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TICKERS: CYP; CYDVF; C1Z1

Lithium Developer Achieves Goal with Infill Drilling at Nevada Project
News Update

Source:

The new assay results will be incorporated into a prefeasibility study and resource estimate update, both underway.

Cypress Development Corp. (CYP:TSX.V; CYDVF:OTCQB; C1Z1:FSE) announced in a news release new assays from six infill holes drilled at its Clayton Valley lithium project in Nevada. Specifically, results are from the southwest part of the initial pit.

As for highlight intervals, GCH-12 demonstrated 112 meters (112m) of lithium (Li) grading 1,127 parts per million (1,127 ppm), including 80m Li grading 1,252 ppm.

Hole GCH-08 encountered 109m of Li grading 1,127 ppm, including 85m of Li grading 1,226 ppm.

GCH-07 showed 140m of Li grading 1,032 ppm, including 88m Li grading 1,189 ppm.

"The program demonstrated consistent results from hole to hole and achieved our goal of obtaining better-than-average grade intervals within the target area," CEO Bill Willoughby said in the release.

Drilling was undertaken to define an area of higher-grade lithium, upgrade the resources and provide tonnage for the prefeasibility study mine plan and production schedule.

The resource estimate is now being updated, and the prefeasibility study is in process, the company reported.

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