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Cypress Development Changes NAME to Century Lithium Corp

Corporate Actions

NEWS RELEASE TSXV: CYP | OTCQX: CYDVF

CYPRESS DEVELOPMENT CHANGES NAME TO CENTURY LITHIUM CORP

AND NEW TICKER SYMBOL ‘LCE’ EFFECTIVE JANUARY 30, 2023

January 26, 2023 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF)

(Frankfurt: C1Z1) ( “Cypress” or “the Company”) is pleased to announce that further to its news release

dated January 24, 2023, the TSX Venture Exchange (the “TSXV”) has approved the Company’s name

change from Cypress Development Corp. to Century Lithium Corp. The Company will also change its

trading symbol from ‘CYP’ to ‘LCE’ on the TSXV. The effective date on which the Company will begin trading

under the new name and symbol is January 30, 2023. The CUSIP number is 156615106.

The transfer agent of the Company continues to be Computershare Investor Services Inc. There is no

change in the capitalization of the Company in connection with the change of name and trading symbol

and no action is required by existing shareholders with respect to this matter. Shareholders holding share

certificates of the Company can request a replacement certificate, however new certificates are not

required and will not be automatically issued.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing

its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on

material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study

and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle

and battery storage market.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.

WILLIAM WILLOUGHBY, PhD., PE

President & Chief Executive Officer

For further information, please contact:

Spiros Cacos | Vice President, Investor Relations

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Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email [email protected]

www.cypressdevelopmentcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS

RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.