Cypress Reports 92 meters of 1136 ppm Li from Clayton Valley Lithium Project in Nevada
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
July 2, 2020
Cypress Reports 92 meters of 1136 ppm Li from Clayton Valley Lithium
Project in Nevada
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to report newly received
assays of drill cores which the Company recently acquired . The cores are from four
holes drilled as shown in the figure below and located in an area south of the proposed
mine area in the Company’s May 2020 Prefeasibility Study (NI 43-101 Clayton Valley
Prefeasibility Study Technical Report ). The assay results are summarized in the
accompanying table.
Clayton Valley Lithium Project CM Series Drill
Holes
Drill Hole Depth (m) meters Li ppm From To
CM001 4.9 110.6 105.0 1,065
includes 4.9 97.5 91.9 1,136
CM002 1.5 85.8 84.3 983
includes 1.5 52.9 51.4 1,130
CM003 5.8 84.4 78.6 996
includes 41.3 69.2 27.9 1,159
CM004 3.0 60.4 57.3 883
CM Series Drill Hole Location Map, Clayton Valley Project, Nevada:
https://cypressdevelopmentcorp.com/site/assets/files/3947/cm_series_drill_hole_ma
p_clayton_valley_project.pdf
HQ-size drill cores from the four holes w ere received intact, properly boxed and in
good condition. All cores were logged, split and sampled by Cypress at ALS in Reno
Nevada, and analyzed by ALS in Vancouver, B.C. Company QA/QC procedures were
followed.
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The assay r esults are significant with three of the holes having continuous intervals
averaging greater than 1,100 ppm Li. The longest is a 92-meter interval of 1,136 ppm
Li in CM001, located 750 meters southeast of the PFS pit limits. The lithium grades
reported here are similar to those of the Probable Reserves in the PFS, estimated at
222.8 million tonnes of 1,141 ppm Li (1.353 Mt LCE) . The results demonstrate the
potential for additional resources within an area of 1,106 acres that were not included
in the PFS resource model.
Qualified Person:
Daniel Kalmbach, CPG, is the qualified person as defined by National Instrument 43-
101 and has approved the technical information in this release.
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 has discovered a world -class resource of
lithium-bearing claystone adjacent to Albemarle's Silver Peak mine, North America's
only lithium brine operation. The size of the resource makes the Clayton Valley Project
a premier target with the potential to impact the future supply of lithium for the f ast-
growing global lithium-ion battery market.
Cypress Development Corp. has approx. 90.3 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 release 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 forwa rd-
looking statements. Although management believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not
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guarantees of future performance, and actual results or developments may differ m aterially
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 filing s of the Company at www.sedar.com for further
information.