Cypress Development Progress ON Feasibility Study
NEWS RELEASE TSXV: CYP | OTCQX: CYDVF
CYPRESS DEVELOPMENT PROGRESS ON FEASIBILITY STUDY
June 15, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to provide an update on the progress of the
ongoing Feasibility Study for the Company’s Clayton Valley Lithium Project, in Nevada, USA. The Feasibility
Study is under the direction of Wood PLC ("Wood") and Global Resource Engineering (“GRE”) and all
related work is proceeding well, and it remains on track for completion in late 2022.
Activity Highlights:
• Geotechnical study in progress
• Continued operation of the Pilot Plant
• 500-ton bulk sample collected for further metallurgical material
• Sonic drill program completed consisting of 580 meters in eight drill holes
• Resource model updated with data from recently acquired property
Geotechnical Program
Wood personnel conducted on-site visits in supervising the collection of geotechnical data for the
foundation design of the Company’s processing plant site and tailings storage facility. The samples
collected for Wood’s geotechnical program were shipped to materials testing laboratories, and additional
on-site work is planned in the next month.
GRE personnel conducted site visits in preparation to work on the Project’s resources and reserves. GRE
personnel supervised the collection of a suite of large-diameter core samples for assay and geotechnical
testing, which will provide further information for GRE’s work on the mine design.
Lithium Extraction Facility (“Pilot Plant”)
Testing continues at Cypress’ Pilot Plant in Amargosa Valley, 100 miles southeast of the Clayton Valley
Lithium Project site. The Pilot Plant is now working in its 12th cycle of continuous 24-hr per day testing.
2
The tests are ongoing to examine efficiencies in processing, testing various configurations in equipment
and operating conditions, and the plant continues to produce concentrated lithium solutions for use in
downstream product testing.
Wood’s process engineering team is working with Continental Metallurgical Services and the data from
the Pilot Plant, to develop mass balance and equipment sizing. Wood’s engineers are also working on the
overall project infrastructure, including selection and design of access roads, plant equipment, power, and
water supplies.
Bulk Sample
To support continued testing, a 500-tonne sample of claystone was excavated in late April from an
engineered test-pit and transported to the Company’s operations headquarters at the Tonopah airport,
where it will be crushed, screened, and bagged in preparation for treatment at the Company’s Pilot Plant.
The sample was collected near DCH-1, and in the vicinity of the planned starter-pit for mining in the
Feasibility Study.
“We are pleased with the bulk sampling work. The size of the bulk sample may be larger than necessary
for the Pilot Plant to provide adequate information for the Feasibility Study” said President and CEO Bill
Willoughby. “This sample, however, allows us to examine lithium grade and other properties in the
claystone over a larger volume. It also ensures we have material on hand, should we need it, for future
tests or continued operations.”
Sonic Drill Program
Cypress is continuing to log and sample core from a sonic drill program which commenced and was
completed in May. The purpose of the drill program was to obtain large-diameter (6-inch) continuous
core. Eight locations were selected for metallurgical, geotechnical, lithological purposes. Each hole yielded
1.9 to 2.3 tonnes of claystone which will be used in metallurgical testing at the Company’s Pilot Plant to
examine if there are any variations in performance due to depth, location, or material type in the deposit.
Four of the holes (CSV-1 through CVS-4) were completed in the central portion of the project in the vicinity
of the proposed starter-pit and the 500-tonne bulk sample. Four other holes (CVS-5 through CVS-8) were
completed in the northeast portion of the project on and near the parcel of property recently acquired
from Enertopia Corporation (“Enertopia”). In addition to providing metallurgical sample material, these
latter four holes will provide confirmation of the data from Enertopia’s previous drilling.
“The drilling program proceeded better than expected and was very successful in this first application of
sonic drilling in Clayton Valley” stated Daniel Kalmbach, Cypress Manager, Geology and QP. “The quality
of the large-diameter core samples are excellent and will provide further valuable data for the Feasibility
Study.”
Resource Model
The recent addition of land acquired from Enertopia (see news release dated May 5, 2022) resulted in the
addition of five core holes which were drilled by Enertopia in 2018. This property comprises 17 unpatented
mining claims totaling 160 contiguous acres immediately adjacent to Cypress’s Project. A March 2020 NI
43-101 compliant technical report (published by Enertopia) on the property shows an Indicated resource
of 82 million tonnes (mt) of 1,121 parts per million (ppm) Li and an Inferred resource of 18 mt of 1,131
ppm Li using a cutoff grade of 400 ppm Li. Cypress has not independently confirmed the resource
indicated in the March 2020 NI 43-101 report.
3
All data received from the property acquisition has been incorporated into the project database and is
expected to be used by GRE to generate the resource and reserve estimates and develop the mine plan
for the Feasibility Study
Qualified Person
Daniel Kalmbach, CPG, is the qualified persons as defined by National Instrument 43-101 and have
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.