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Cypress Development Corp.

Cypress Development Corp.

Sector: Gold Ores Region: Canada


: | TSX Venture Exchange: CYP


Cypress Development Corp. (TSX-V: CYP) 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' flagship project is located immediately east of Albemarle’s Silver Peak mine, North America’s only lithium brine operation, which has been in continuous operation since 1966. Recent exploration by Cypress has discovered an extensive deposit of lithium-bearing claystone adjacent to the brine field to the east and south of Angel Island, an outcrop of Paleozoic carbonates protruding up through the lakebed sediments.

Drilling in 2017 encountered values averaging 921 ppm Li over an average thickness of 77 meters in 14 holes drilled. Mineralization occurs within montmorillonite clays throughout the sediments to a depth of at least 112 meters. Drilling is ongoing and a resource estimate is expected in Q1-2018. Metallurgical tests so far have shown the claystone is weak acid leachable with lithium extractions ranging up to 80% in agitated leach tests using sulfuric acid. These high extractions indicate the dominant lithium-bearing minerals present are not hectorite, a refractory clay mineral which requires roasting to liberate the lithium.

Cypress believes these features, along with favorable geographical setting and apparent size of the deposit makes Clayton Valley a premier target that has the potential to impact the future of lithium production in North America. With mineralization tested by drilling over a seven kilometer trend, Cypress’ Clayton Valley deposit could develop into a significant long-term source of supply in a politically stable and favorable mining jurisdiction.

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September 2018

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Executives

Donald C. Huston, Chairman, President
Don Huston serves as Chairman of the Board and President of Cypress Development Corp. Mr. Huston has been associated with the mineral exploration industry for over 30 years and has extensive experience as a financier and in-field manager of numerous mineral exploration projects in North America. He was born and raised in Red Lake, Ontario and spent 15 years as a geophysical contractor with C.D. Huston & Sons Ltd. as mineral exploration consultants in northern Ontario, Manitoba and Saskatchewan. Mr. Huston serves as a director of four Canadian public resource companies.
William Willoughby, PhD, PE, Director, C.E.O.
Bill Willoughby, PhD, PE serves as a Director and Chief Executive Officer for Cypress Development Corp. Dr. Willoughby is a mining engineer with 38 years of experience in all aspects of natural resources development. Since 2014, he has been principal and owner of consulting firm Willoughby & Associates, PLLC. Prior to that, he was President and COO of International Enexco Ltd., which was acquired by Denison Mines in 2014. He previously held various positions with Teck (Cominco). Dr. Willoughby has been a Professional Engineer since 1985 and received his Doctorate in Mining Engineering & Metallurgy from the University of Idaho in 1989.
James G. Pettit, Director, CFO
Jim Pettit serves as a Director and acting Chief Financial Officer of Cypress Development Corp. Mr. Pettit is currently serving on the board of directors of five publicly traded companies and offers over 25 years of experience within the industry specializing in finance, corporate governance, executive management and compliance. Jim was previously Chairman and CEO of Bayfield Ventures Corp. which was bought by New Gold Inc. in January 2015.
Donald G. Myers, Director
Don Myers serves as a Director of Cypress Development Corp. He has over twenty years of experience in public company management and corporate communications working with companies listed on the TSX Venture, NASDAQ, and Toronto Stock Exchanges. Mr. Myers background includes holding the position of Director and Officer of several junior public companies listed on the TSX Venture Exchange.
Amanda Chow, CMA, Director
Amanda Chow serves as an independent Director of Cypress Development Corp. Ms. Chow is a Certified Management Accountant (CMA) and a graduate of Simon Fraser University where she earned her Bachelor of Business Administration degree. She began working with public companies in 1999.
Robert Marvin, P.Geo, CPG., Director, VP of Exploration
Bob Marvin, P.Geo., serves as a Director and as V.P. of Exploration and Community Relations for Cypress Development Corp. and is a Qualified Person. Mr. Marvin has been involved in mineral exploration and evaluation of lithium, gold, copper, zinc and uranium deposits throughout the Americas as an employee and as an independent consultant. He graduated from the University of New Mexico with a Bachelor of Science degree in geology in 1984.

A third generation Nevada resource geologist, Bob has learned the business from the field starting at an early age. Always keen to explore high grade deposits, Bob has been involved in several successful gold-silver projects in Canada, most recently with Bayfield Ventures in the Rainy River gold district in Ontario but also at Meliadine and in the Committee Bay Belt of the far north.

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