Cypress Development Provides Results of Annual General Meeting

NEWS RELEASE TSXV: CYP | OTCQX: CYDVF

CYPRESS DEVELOPMENT PROVIDES RESULTS OF ANNUAL GENERAL MEETING

October 31, 202 2 - Vancouver, Canada - Cypress Development Corp. (TSXV: CYP) ( OTCQX: CYDVF)

(Frankfurt: C1Z1) (“Cypress” or “the Co mpany”) is pleased to report that all proposed resolutions were

passed by requisite majority at its Annual General Meeting, held on October 28, 2022, via virtual webcast.

Shareholders voted in favour of setting the number of directors at 6, and Cassandra Joseph, William

Willoughby, James Pettit, Donald Myers, Bryan Disher, and Ken Owen were re-elected to the Board.

Shareholders also approved the adoption of the Company's Long Term Incentive Plan, and the

appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year.

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 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 & CEO

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

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