Mr. William Willoughby reports

CYPRESS DEVELOPMENT CONFIRMS PRODUCTION OF BATTERY GRADE LITHIUM CARBONATE

Cypress Development Corp. has achieved a significant milestone with the production of 99.94-per-cent lithium carbonate (Li2CO3) made from lithium-bearing claystone from the company's 100-per-cent-owned Clayton Valley lithium project in Nevada, United States. The Li2CO3 was derived from the intermediate concentrated lithium solution produced at Cypress's lithium extraction facility in Amargosa Valley, Nev. Following direct lithium extraction (DLE) at the plant, Saltworks Technologies Inc. completed the processing system design and pilot work to make the Li2CO3.

"These are excellent results for the initial iteration of testing and will be incorporated into our ongoing feasibility study on the project," stated Bill Willoughby, Cypress president and chief executive officer. "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-per-cent purity in a scalable representative process.

"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 (international electric vehicle) 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; he has approved the technical information in this release.

About Cypress Development Corp

Cypress Development is a Canadian-based, advanced-stage lithium company, focused on developing its 100-per-cent-owned Clayton Valley lithium project in Nevada, U.S. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing toward 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.

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