Cypress Development Grants Incentive Stock Options

NEWS RELEASE TSXV: CYP | OTCQB: CYDVF

CYPRESS DEVELOPMENT GRANTS INCENTIVE STOCK OPTIONS

November 23, 2021 - Vancouver, Canada - Cypress Development Corp. (TSXV: CYP) (OTCQB: CYDVF)

(Frankfurt: C1Z1) (“Cypress” or “the Company”) announces that the Company has granted an aggregate

1,945,000 incentive stock options (the "Options") to officers, directors, consultants and employees of the

Company. The Options vest over variable periods up to three years and are exercisable at $2.26 per share,

being the five-day volume-weighted average price. The Options are valid for variable periods up to five

years from the date of grant. The Options have been granted under and are governed by the terms of the

Company's long term incentive plan and are subject to the policies of the TSX Venture Exchange.

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. The results of a positive Pre-Feasibility Study for

the Clayton Valley Lithium Project were announced by Cypress Development in August 2020. 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]

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.