Cypress Development Delivers Solution from Pilot Plant FOR Testing Production of Lithium Carbonate and Lithium Hydroxide

NEWS RELEASE TSXV: CYP | OTCQX: CYDVF

CYPRESS DEVELOPMENT DELIVERS SOLUTION FROM PILOT PLANT FOR TESTING

PRODUCTION OF LITHIUM CARBONATE AND LITHIUM HYDROXIDE

June 13, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF)

(Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to report that the Company’s Lithium

Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada continues to operate successfully, reaching

a milestone in the delivery of concentrated lithium solution to two laboratories in Canada for further

testing in the production of lithium products.

“The Company is very pleased to have reached this significant milestone. About 4,000 liters of

concentrated lithium chloride solution have been delivered from the Pilot Plant to two Canadian

laboratories. Each laboratory is now working to further treat the solutions, one to produce lithium

carbonate, and the other, lithium hydroxide, as the final end product,” commented Bill Willoughby,

President and CEO of Cypress Development. “These results will then be used to determine what additional

steps are needed, if any, to attain battery-grade standards and evaluate the alternatives for producing

these products in the ongoing Feasibility Study.”

Pilot Plant

Cypress’ Lithium Extraction Facility in Amargosa Valley, Nevada marked its sixth month of operation with

the completion of 11 separate continuous tests conducted on a 24-hour per day basis, over periods

ranging from 3 to 14 days. Processing conditions and equipment arrangements in the areas of leaching,

filtration, impurity removal, and the Direct Lithium Extraction (DLE) system during the testing periods have

been varied to determine the effect of changes. The Pilot Plant will continue to operate during the summer

with a work schedule of 7-days on, 5-days off.

“The Pilot Plant operates very well and requires minimal time for start-up,” stated Todd Fayram, President

of Continental Metallurgical Services and Qualified Person who oversees process engineering and

operations at the Pilot Plant. “For the most part we are using standard equipment with well-established

methods in mineral processing. This allows us to efficiently examine changes and reconfigure the process

as required.”

The Company is pleased with the progress and results to-date. Recoveries in the Pilot Plant remain as

expected, with lithium extraction from claystone in the 80 to 85% range. Tailings testing has preliminarily

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identified characteristics that will allow for dry stacking with minimal water entrainment. The Pilot Plant

is also focused on minimizing water usage and has operated successfully with an emphasis on 100%

recycling of all process water streams within the facility.

Qualified Person

Todd Fayram, MMSA-QP is a Qualified Person as defined by National Instrument 43-101 and has approved

of the technical information in this release.

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

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.

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.