VANCOUVER, B.C., Feb. 21, 2018 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) (“Cypress” or the “Company”) is pleased to announce, further to its news release on February 7th, that the Company has filed a National Instrument 43-101 Technical Report on SEDAR for its 100%-owned Dean Clayton Valley Lithium Project in Nevada.
Clayton Valley Project Location Map:
The Technical Report on the geology and drilling of the Dean Project has been completed and filed on SEDAR at www.sedar.com and is titled DEAN LITHIUM PROJECT NATIONAL INSTRUMENT 43-101 TECHNICAL REPORT, dated February 3, 2018, and prepared by Robert Marvin, B.Sc., PGeo.
The Report has also been posted on Cypress Development’s web site and can be viewed here: https://www.cypressdevelopmentcorp.com/site/assets/files/3731/final-final-feb-17-2018-tech-report-dean-project.pdf
Robert Marvin, B.Sc., PGeo, VP of Exploration and Director of Cypress Development Corp., is the qualified person as defined by National Instrument 43-101 and has prepared and approved of the technical information in this report.
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded exploration company focused on developing the Company’s 100%-owned Clayton Valley lithium project in the State of Nevada, U.S.A.
Cypress' Dean & Glory Lithium Project is located immediately east of Albemarle’s Silver Peak mine, North America’s only lithium brine operation. Recent exploration by Cypress has discovered an extensive deposit of lithium-bearing claystone adjacent to the brine field. With mineralization tested by drilling over a seven-kilometer trend, the apparent size of the Dean & Glory deposit makes Clayton Valley a premier target that has the potential to impact the future of lithium production in North America.
Cypress Development Corp. has approx. 54.5 million shares issued and outstanding.
CYPRESS DEVELOPMENT CORP.
DONALD C. HUSTON
For further information contact myself or:
Cypress Development Corp.
Director, Investor Relations
Toll Free: 800-567-8181
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This release includes certain statements that may be deemed to be "forward-looking statements". 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.