Cypress Development Completes Purchase of Permit FOR Water Rights IN Clayton Valley, Nevada
NEWS RELEASE TSXV: CYP | OTCQB: CYDVF
CYPRESS DEVELOPMENT COMPLETES PURCHASE OF PERMIT FOR WATER RIGHTS
IN CLAYTON VALLEY, NEVADA
December 8, 2021 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to report it has completed the purchase of
Permit 44411 and Certificate 13631 (the “Permit”) from Intor Resources Corp., a subsidiary of Nevada
Sunrise Gold Corp. (“Nevada Sunrise”). The remaining cash purchase consideration of US$2,000,000 and
the title deed were released from escrow to the respective parties, along with Cypress shares in the value
of US$850,000 issued to Nevada Sunrise, as the final component of the purchase consideration. The
Permit is an essential piece of Cypress’ strategy to develop its Clayton Valley Lithium Project in Nevada.
“Water resources in Nevada are limited, therefore the acquisition of this Permit by Cypress represents a
milestone which will secure a majority of the Project’s future water requirements” stated Bill Willoughby,
President and CEO of Cypress.
The Permit allows for the appropriation of the public waters of the State of Nevada in the amount of 1,770
acre-feet of groundwater per year for mining, milling and domestic applications. This amount represents
the largest single volume of permitted water available in the Clayton Valley, which is a fully appropriated
hydrogeographic basin.
About Cypress Development Corp
Cypress Development Corp. is a Canadian advanced stage lithium exploration company, focused on
developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress
led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver
Peak mine, North America's only lithium brine operation. A positive Pre-Feasibility Study for the Clayton
Valley Lithium Project was published in March 2021. Cypress Development trades on the TSX Venture
Exchange under the symbol CYP, and on the OTCQB under the symbol CYDVF.
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
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email [email protected]
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www.cypressdevelopmentcorp.com
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Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". Forward-looking
statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,”
“estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. 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.