Cypress Development Grants Incentive Stock Options

NEWS RELEASE TSXV: CYP | OTCQX: CYDVF

CYPRESS DEVELOPMENT GRANTS INCENTIVE STOCK OPTIONS

April 4, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF)

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

750,000 incentive stock options (the "Options") to an Executive Director and an Officer of the Company

pursuant to the Company’s annual management compensation plan. The Options vest over a three-year

period and are exercisable at $1.84 per share, being the closing share price on the date of grant. The

Options are valid for a five-year period 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 based 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. Cypress is advancing its Clayton Valley Lithium

Project in Nevada towards the production of high-purity lithium hydroxide suitable for battery

construction.

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

2

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS

RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.