Cypress Development Announces Changes to Nevada Property Option Agreement with Pasinex Resources
Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
TSX Venture Exchange Symbol: CYP
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
NEWS RELEASE
September 12, 2019
Cypress Development Announces Changes to Nevada Property
Option Agreement with Pasinex Resources
Vancouver, BC - Cypress Development Corp. ( TSX-V: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or “the Company”) announces that it has agreed to
extend the terms of the 2017 earn- in option agreement with Pasinex Resources
Limited (CSE: PSE) (FSE: PNX) (“Pasinex”) and Caliber Minerals Inc. (formally Silcom
Systems Inc.) on the Spur (formally Gunman) zinc exploration property in Nevada,
USA.
The agreement changes the date of the $100,000 option payment , payable to
Cypress, to December 11th, 2019. It also defers the 2019 exploration obligations into
2020, bringing the exploration obligations to $1,600,000 USD for 2020. The underlying
licenses are in good standing until September 2020.
On September 11, 2019, Cypress received 200,000 shares of Pasinex as part of the
2017 earn-in option agreement.
For further clarification on the original earn -in option agreement , refer to the news
release dated December 7th, 2017.
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 has discovered a world- class resource of
lithium-bearing claystone adjacent to Albemarle's Silver Peak mine, North America's
only lithium brine operation. The size of the resource makes the Clayton Valley Project
a premier target that has the potential to impact the future supply of lithium for the fast-
growing global lithium-ion battery market.
Cypress Development Corp. has approx. 81.6 million shares issued and outstanding.
To find out more about Cypress Development Corp. (TSX -V: CYP), visit our website
at www.cypressdevelopmentcorp.com.
2
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: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
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 stat ements 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.