Cypress Development Enters LOI for the Purchase of Water Rights in Clayton Valley, Nevada - Seite 2

“Groundwater in the southwest U.S. is a limited resource, and it was known early on that acquiring water rights would be a sensitive and critical step for Cypress’ lithium project” said Cypress CEO Bill Willoughby. “We believe the timing is right to enter into this agreement given the advanced stage of our project.”

“The water under this permit will provide a significant portion of the fresh water supply called for under our project’s Prefeasibility Study. We are very conscious, however, of the possible impacts and resources needed to support a new mine and are actively pursuing ways to conserve water. The data collected from our recent testing using a chloride leaching approach, for example. shows a large reduction in water use is possible. This LOI is a major step for Cypress in securing the water needs of the project.”

About Cypress Development Corp.:

Cypress Development Corp. is a publicly traded exploration company focused on developing the Company’s 100%-owned Clayton Valley Lithium Project in Nevada. Exploration and development by Cypress discovered a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only lithium brine operation. The size of the resource makes the Clayton Valley Project a premier American source that has the potential to impact the supply of lithium for the fast-growing energy storage battery market.

Clayton Valley Lithium Project, Nevada Claims Map:
https://www.cypressdevelopmentcorp.com/site/assets/files/3573/cyp_cypr ...

To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com.

CYPRESS DEVELOPMENT CORP.

“Dr. Bill Willoughby”

______________________________
WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer

For further information contact myself or:
Don Myers
Cypress Development Corp.
Director, Corporate Communications
Telephone: [phone]
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [e-mail]

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This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.