Cypress Development Provides Update on Pilot Plant and Lithium Extraction Process for Clayton Valley Lithium Project, Nevada

Rhea-AI Summary

Cypress Development Corp. (TSXV: CYP | OTCQB: CYDVF) has successfully initiated a pilot plant start-up for lithium extraction at its Clayton Valley Lithium Project in Nevada. After 72 hours of continuous operation, initial results indicate promising lithium grades between 350 to 700 ppm. The Lionex Direct Lithium Extraction process is functioning effectively, with low impurity solutions being produced. Final assay results are pending, expected to provide further insights into operational efficiency.

Positive

• Successful pilot plant start-up for lithium extraction.
• Initial results show lithium grades of 350 to 700 ppm.
• Lionex DLE process demonstrated effective functioning.
• Low impurity solutions produced during initial tests.

Negative

• None.

TSXV: CYP | OTCQB: CYDVF

VANCOUVER, BC, Dec. 7, 2021 /PRNewswire/ - Cypress Development Corp. (TSXV: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) ("Cypress" or "the Company") Cypress Development is pleased to report a successful pilot plant start-up for extraction testing of lithium-bearing claystone from the Company's 100% owned Clayton Valley Lithium Project in Nevada. The first full test was completed with 72 hours of continuous operation. The Company expects testing to continue as it awaits final results from assays.

"The progress so far has been positive, and we are pleased with the initial results" stated Bill Willoughby, President and CEO of Cypress Development.

During this first test, sampling was conducted at six-hour intervals. Analyses of solution samples at various points throughout the plant were conducted using the ICP unit on-site. These preliminary results are encouraging, with expected to better-than-expected values. Final results are pending assays of these solution samples along with the samples of residues and precipitates, which have been sent to ALS Global.

Performance within areas of the Pilot Plant:

• Leaching performed as expected, yielding solution grades of 350 to 700 ppm lithium.
• Lithium grades increased and decreased based on material addition to leach.
• The Lionex Direct Lithium Extraction ("DLE") process appears to be functioning well, yielding a return solution back to leach of less than 10 ppm lithium.
• The primary and secondary impurity removal stages were combined to improve efficiency and are delivering low impurity solutions to the DLE process.
• Solids-liquid separation and washing of the tailings appears to be performing very well.
• Operating improvements are being implemented.

Qualified Person

Todd Fayram, MMSA-QP, 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 advanced stage lithium exploration company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only lithium brine operation. The results of a positive Pre-Feasibility Study for the Clayton Valley Lithium Project were announced by Cypress Development in August 2020. Cypress Development trades on the TSX Venture Exchange under the symbol CYP, and on the OTCQB under the symbol CYDVF.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.

WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

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 recent update on Cypress Development Corp's lithium extraction project?

Cypress Development Corp has reported a successful pilot plant start-up for lithium extraction, indicating promising early results with lithium grades between 350 to 700 ppm.

What are the results from Cypress Development Corp's pilot plant tests?

Initial tests from Cypress Development's pilot plant show lithium grades between 350 to 700 ppm, with the Lionex Direct Lithium Extraction process functioning effectively.

When did Cypress Development Corp announce the start-up of its pilot plant?

Cypress Development Corp announced the pilot plant start-up on December 7, 2021.

What is the significance of the lithium grades reported by Cypress Development Corp?

The reported lithium grades of 350 to 700 ppm are encouraging and could indicate a viable extraction potential for the company.