Drilling At The Clayton Valley Nevada Project

VANCOUVER - Cypress Development Corp. has commenced drilling on its Clayton Valley Lithium Project, located just east of Albemarle's Silver Peak lithium brine operation in the heart of Clayton Valley. The company plans to drill 12 holes totaling 4,000 feet of NQ-size core. The 2017 fall program will be divided between Cypress' contiguous Glory and Dean claim blocks, which cover an area totaling 4,220 acres and are 100% controlled by Cypress. Drilling will be completed by Morningstar Drilling of Three Forks, Montana. A drill is at the site and the first hole was collared on the Dean claims.

To date, all of Cypress' drilling has been on the Dean claims, where a 9-hole program was completed earlier this year. All nine holes encountered significant values within claystone, which ranged up to 1790 ppm lithium and averaged 900 ppm lithium (or 0.48% Lithium Carbonate Equivalent) throughout the average drill-depth of 243 feet for all nine holes. The program covered a large area, measuring roughly 12,000 feet in length by 4,000 feet in width, and the lithium-bearing claystone is considered open in all directions.

Immediately south of the Dean claim block extensive sampling by Cypress on the Glory claims has identified lithium mineralization in surface exposures of claystone which ranged up to 3,800 ppm over 9,500 feet along the same trend encountered on the adjoining Dean claims.

The company believes its claystone deposit in Clayton Valley has the potential to contain a significant resource of lithium, and may have physical and logistical features that could make it a productive, long-term source of lithium.