Cypress Development to Collaborate on Lithium Research Projects
Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
TSX Venture Exchange Symbol: CYP
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
NEWS RELEASE
September 23, 2020
Cypress Development to Collaborate on Lithium Research Projects
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or “the Company”) , developer of a world class lithium
claystone deposit in Nevada, announced today, the Company, as an industrial partner
with several high tech research entities, has been encouraged along with its partners
in full project proposal submissions to the Department of Energy (DOE), Office of
Energy Efficiency and Renewable Energy (EERE). This has culminated in the recent
formal submittal of two lithium project proposals for research to be conducted over the
next three years.
The first project is in collaboration with the University of Utah, Colorado School of
Mines, and Cornell University, and is titled "Highly Selective Resource Independent
Lithium Extraction Processes ." This technology will demonstrate the use of Next
Generation Lithium Ion Sieve Technology (NGLIST) as an innovative and low-impact
processing method for recovering lithium including lithium contained in clay minerals.
The second project will be done in partnership with the University of Utah, Pacific
Northwest National Laboratory (PNNL), and Cornell University, and is titled "Novel and
Adaptive Amino Acid Looping Strategy for Directing Lithium Carbonate Synthesis by
Using CO2 (NASCENT)."
"We are pleased to have the EERE encourage these two research efforts in
partnership with the University of Utah, Colorado School of Mines, PNNL, and Cornell
University" said Todd S Fayram, Chief Metallurgist for Cypress . "Successful
completion of either project will allow for more efficient utilization and lower cost
recovery of lithium including from the claystone resource s in Cypress’ depos it in
Clayton Valley, Nevada”.
On May 19, 2020, Cypress announced positive results of a Prefeasibility Study for the
Clayton Valley Lithium Project in Nevada (May 2020 Prefeasibility Study) prepared by
Continental Metallurgical Services (CMS) of Butte, Montana and Global Resource
Engineering (GRE) of Denver, Colorado. On August 11, 2020, Cypress announced a
55% increase in the Measured and Indicated Mineral Resources at the Clayton Valley
Project to 929.6 million tonnes averaging 1,062 ppm Li (5.2 Mt LCE) based on a cut -
off grade of 900 ppm Li, utilizing the same economic and mining parameters found in
the Company's May 2020 Prefeasibility Study.
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About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded exploration company focused on
developing the Company’s 100%-owned Clayton Valley Lithium Project in Nevada.
Exploration and development by Cypress discovered a world-class resource of lithium-
bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only
lithium brine operation. The size of the resource makes the Clayton Valley Project a
premier source that has the potential to impact the supply of lithium for the fast-growing
global energy storage battery market.
Cypress Development Corp. has approximately 94.7 million shares issued and
outstanding.
To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website
at www.cypressdevelopmentcorp.com.
CYPRESS DEVELOPMENT CORP.
“Dr. Bill Willoughby”
WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer
For further information contact myself or:
Don Myers
Cypress Development Corp.
Director, Corporate Communications
Telephone: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
This rele ase 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 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 diffe r 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.