Cypress Development Appoints Bill Willoughby CEO, Drilling Permit Received for Dean Lithium Project in Nevada, Private Placement Financing Announced
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 13, 2017
Cypress Development Appoints Bill Willoughby CEO,
Drilling Permit Received for Dean Lithium Project in Nevada,
Private Placement Financing Announced
Vancouver, BC - Cypress Development Corp. (TSX -V: CYP) (OTCBB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or the “Company”) is pleased to announce that Bill
Willoughby, PhD, PE, has joined Cypress' Board of Directors and will serve as Chief
Executive Officer for the Company.
Dr. Willoughby is a mining engineer with 38 years of experience in all aspects of
natural resources development . Since 2014, he has been principal and owner of
consulting firm Willoughby & Associates, PLLC. Prior to that, he was President and
COO of International Enexco Ltd., which was acquired by Denison Mines in 2014. He
previously held various positions with Teck (Cominco) . Dr. Willoughby has been a
Professional Engineer since 1985 and received his Doctorate in Mining Engineering
& Metallurgy from the University of Idaho in 1989.
Don Huston has been appointed Chairman of the Board of Cypress Development
and will continue with his role as President of the Company.
Don Huston, President of Cypress Development commented, “The addition of Bill as
the Chief Exec utive Officer and Director of Cypress Development will be a great
asset to the Company . His expertise in mineral project development will provide
guidance in advancing Cypress’ Lithium Project in Nevada, which consists of its key
assets, the 100% -held Dean and Glory properties. Ongoing exploration has
demonstrated consistent distribut ion of lithium across a large area controlled by
Cypress in the Clayton Valley. Cypress is proceeding with further laboratory testing
and Bill’s direction will focus on the development of an economic process for
extracting the lithium from the Clayton Valley mudstones. Bill and Cypress’ VP of
Exploration Robert Marvin will make a great team in the continued development of
the Cypress Clayton Valley Lithium Project and moving the Company forward.”
Cypress is also pleased to announce the Company has received an Area of
Disturbance Permit from the U.S. Bureau of Land Management (BLM) Nevada for
Cypress’ Dean Lithium Project in Clayton Valley, Nevada . The BLM Permit allows
Cypress to move forward with a second s eries of diamond drill holes on the Dean
Project using NQ diamond drill core methods of approximately 2 inch diameter core.
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Morningstar Drilling of Three Forks, Montana will complete the drilling with drilling
expected to commence by the end of September 2017.
Cypress Clayton Valley, Nevada Lithium Projects location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-topo-satalite-small.jpg
In other news, Cypress announces a non -brokered private placement of up to
7,500,000 Units at a price of $0.10 per Unit to raise gross proceeds of up to
$750,000. Each Unit will consist of one share and one share purchase W arrant
entitling the holder to purchase an additional common share at a price of $0.13 for a
period of two years. Finder's fees in the amount of 7% cash and 7% warrants may be
paid in connection with part of this private placement offering. The private pla cement
is subject to TSX Venture Exchange acceptance.
About Cypress Development Corp.:
Cypress Development Corp . is a publicly traded lithium and zinc exploration
company that continues to acquire and develop potentially viable mineral projects in
the State of Nevada, U.S.A.
Cypress Development Corp. has approx. 35.5 million shares issued and outstanding.
To find out more about Cypress Development Corp. (TSX -V: CYP), visit our website
at www.cypressdevelopmentcorp.com.
CYPRESS DEVELOPMENT CORP.
“Don Huston”
DONALD C. HUSTON
President
For further information contact myself or:
Don Myers
Director
Cypress Development Corp.
Telephone: 604-687-3376
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 even ts 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
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successes, continued availability of capital and financing, and general e conomic, market or
business conditions. Please see the public filings of the Company at www.sedar.com for
further information.