CYPRESS DEVELOPMENT CONFIRMS PRODUCTION OF BATTERY GRADE LITHIUM CARBONATE

Rhea-AI Summary

Cypress Development Corp. (TSXV: CYP | OTCQX: CYDVF) announced a milestone by producing 99.94% lithium carbonate (Li₂CO₃) from its Clayton Valley Lithium Project in Nevada. This lithium was generated from an intermediate concentrated lithium solution at the Amargosa Valley pilot plant. The independent analyses confirmed the product exceeds battery-grade specifications, marking a significant achievement in their feasibility study. Cypress aims to enhance domestic lithium production for the growing electric vehicle market.

Positive

• Achieved production of 99.94% lithium carbonate from pilot operations.
• Exceeds battery-grade specifications essential for electric vehicle applications.
• Positive validation from independent analyses by SGS Canada, confirming high purity.

Negative

• None.

 TSXV: CYP | OTCQX: CYDVF

VANCOUVER, BC, Sept. 19, 2022 /PRNewswire/ - Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (Cypress or Company) is pleased to report it has achieved a significant milestone with the production of 99.94% lithium carbonate (Li₂CO₃) made from lithium-bearing claystone from the Company's 100%-owned Clayton Valley Lithium Project in Nevada, USA (Project). The Li₂CO₃ was derived from the intermediate concentrated lithium solution produced at Cypress' Lithium Extraction Facility in Amargosa Valley, Nevada (Pilot Plant). Following direct lithium extraction (DLE) at the Plant, Saltworks Technologies Inc. (Saltworks) completed the processing system design and pilot work to make the Li₂CO_3.

"These are excellent results for the initial iteration of testing and will be incorporated into our on-going Feasibility Study on the Project" stated Bill Willoughby, Cypress President, and CEO. "We are pleased to receive comprehensive assays validating the extraction process we have designed for our Project. Exceeding the standard for battery grade lithium carbonate checks-off an important goal for the Company and its further development of the Project."

Cypress executed pilot operations through to production of 'three nines' Li₂CO₃ that exceeds the standard battery grade specifications below. All processing was completed with material from the Company's Project in an end-to-end automated pilot plant that represents full scale production. Independent analyses of product samples were completed by SGS Canada Inc., with the results showing greater than 99.9 weight-percent (wt%) purity in a scalable representative process.

Constituent	Concentration	Battery Grade Spec -Li2CO3	Cypress Li2CO3
Li2CO3	wt%	>99.5%	99.94 %
H2O	wt%	<0.5%	0.01 %
Na	wt%	<0.05%	0.02 %
Ca	wt%	<0.04%	0.02 %
Al	Wppm	<10	6
Cu	Wppm	<5	<4
Ni	Wppm	<6	<5
Zn	Wppm	<5	<5
Cl	wt%	<0.01%	0.008 %

Notes: wt% (weight percent), wppm (weight parts per million)

"Our team is pleased with the outcome at Saltworks, and their support of our Project," stated Bill Willoughby. "Cypress has engaged Saltworks to integrate their designs into our pilot plant program and look forward to their continued work on the Project."

The final product surpasses industry requirements for standard battery grade Li₂CO₃ and has achieved industry requirements for enhanced battery grade Li₂CO₃ for xEV use. It is common practice for lithium battery manufactures to have specific requirements for Li₂CO₃ used in their products dependant on application.

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 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

 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.

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SOURCE Cypress Development Corp.

FAQ

What is the latest achievement of Cypress Development Corp (CYDVF)?

Cypress Development Corp (CYDVF) recently produced 99.94% lithium carbonate, marking a significant milestone in its Clayton Valley Lithium Project.

How pure is the lithium carbonate produced by Cypress Development Corp (CYDVF)?

The lithium carbonate produced by Cypress Development Corp (CYDVF) has a purity level of 99.94%, which exceeds standard battery-grade specifications.

What project is Cypress Development Corp (CYDVF) focused on?

Cypress Development Corp (CYDVF) is focused on the Clayton Valley Lithium Project located in Nevada, USA.

What are the significance and implications of the lithium carbonate production for Cypress Development Corp (CYDVF)?

The production of high-purity lithium carbonate positions Cypress Development Corp (CYDVF) favorably within the rapidly expanding electric vehicle and battery storage market.