Cypress Development Corporate Update
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
December 11, 2018
Cypress Development Corporate Update
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or the “Company”) is pleased to provide an update on
the Company’s Clayton Valley Lithium Project in Nevada. Cypress is making progress
on the work towards the prefeasibility study (PFS) outlined in its recently completed
Preliminary Economic Assessment (see news release Oct. 1 st), inc luding an infill
drilling program, further metallurgical testing, and the initiation of baseline studies.
“Cypress is continuing to work on steps to de-risk the project and complete the
prefeasibility study in the first quarter of 2019. Metallurgical test s are underway and
focused on optimizing conditions of the process flowsheet. ” stated Bill Willoughby,
CEO. “As we enter 2019, we anticipate further progress as we complete infill drilling
in the pit area outlined in the PEA and Cypress obtains additional material for larger-
scale tests."
Infill Drill Program
Cypress has prepared an application to modify its existing drilling permit for its infill
program. The program is planned for up to 1 500 meters of drilling within the area
between previous holes GCH-06 and DCH-10, which is identified as the higher-grade
center of the deposit. Drilling is expected to begin in early 2019, and will provide
information to upgrade resource categories, further define a production schedule for
the PFS, and provide additional material for further metallurgical tests.
Metallurgical testing for the PFS is already underway using sample material from the
existing drill core. The metallurgical program is focused on o ptimizing leaching
conditions with respect to acid concentration, residence time, and other parameters,
and subsequent steps in concentrating lithium in the leach solutions leading to the
production of lithium carbonate. A s more material is obtained from infill drilling, tests
will focus on composite samples of the individual clay units within the pit area, and on
larger composites representative of the PFS production schedule.
Cypress is working on other steps related to the project and completion of the PFS,
including preparation of a Plan of Operations and the initiation of environmental
baseline studies.
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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.
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: 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 Co mpany 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 d evelopments 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 co uld 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. Plea se see the public filings of the Company at www.sedar.com for further
information.