Cypress Development Enters into Water Rights Purchase and Sale Agreement IN Clayton Valley, Nevada
NEWS RELEASE TSX.V: CYP | OTCQB: CYDVF
CYPRESS DEVELOPMENT ENTERS INTO WATER RIGHTS PURCHASE AND SALE AGREEMENT
IN CLAYTON VALLEY, NEVADA
September 8, 2021 - Vancouver, Canada - Cypress Development Corp. (TSX.V: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to report that it has entered into a Water
Rights Purchase and Sale Agreement (the “Agreement”) with Intor Resources Corp oration (“Intor”), a
wholly owned U.S. subsidiary of Nevada Sunrise Gold Corp oration (“Nevada Sunrise”), for the purchase
of Intor’s Water Rights Permit in Clayton Valley, Nevada (the “Permit”). The Permit allows for 1,770
acre-feet of water per year for mining, milling, and domestic use.
“With the completion of the Agreement, Cypress is a big step closer to securing water rights for our
Clayton Valley Lithium Project”, stated Bill Willoughby, President & CEO of Cypress. “ Cypress and
Nevada Sunrise are now moving forward to complete the parties’ obligations under the Agreement. For
Cypress’ lithium project, this is a meaningful development because water is a vital resource to the
project. This purchase has the potential to secure the Project’s future water requirements.”
Terms of the Agreement
The purchase price for th e Permit is US$3 million to be paid in a combination of cash and Cypress
common shares. The purchase price includes an i nitial non -refundable cash payment of US$150,000
(paid), and a f inal payment of US$2.85 million on receipt of all necessary approvals and transfer of the
Permit to Cypress (“Closing Payment”) . The Closing Payment comprises US$2 million in cash and the
issuance of Cypress common shares to the value of US$850,000 (“Share Issuance”).
The Agreement is subject to terms and conditions customary for a transaction of this nature , including
TSX Venture Exchange approval of the Share Issuance. The Parties are now working toward s obtaining
the approvals required for the transfer of the Permit, expected during the fourth quarter of 2021.
About Cypress Development Corp:
Cypress Development Corp. is a Canadian advanced stage lithium 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. The results of a positive Pre-Feasibility Study for the
Clayton Valley Lithium Project were announced by Cypress Development in June 2020. Cypress
Development trades on the TSX Venture Exchange under the symbol CYP, and on the OTCQB under the
symbol CYDVF.
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ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & CEO
For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Mobile: +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". All statements in
this release, other than statements of historical facts, that address events or developments that management of
the Company expects, are forwa rd-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 m aterially 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.