Cypress Development and Lilac Solutions Demonstrate High Lithium Recoveries from Clayton Valley Clay Project in Nevada

Vancouver, BC – Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) and Lilac Solutions (“Lilac”) are pleased to announce the successful demonstration of high lithium recoveries for Cypress’ 100% held Clayton Valley Project in Nevada utilizing extraction processes developed by Lilac Solutions.  Lilac Solutions is a lithium extraction technology company based in Oakland, California.  Cypress’ Clayton Valley Project is located 215 miles southeast of Reno, Nevada and features a large clay-hosted lithium deposit with 3.8 million tonnes of lithium carbonate equivalent in a NI 43-101 Indicated Resource category (see PEA NI 43-101 Technical Report).

Today, most lithium is produced from lithium brine resources in South America or hard-rock resources in Australia.  Clay resources offer a potential new third branch of the lithium resource base and include large domestic United States resources such as Cypress’ Clayton Valley project. However, to date, clay resources have not achieved commercial lithium production due to technical challenges associated with lithium extraction.  Cypress and Lilac are addressing these challenges together with a highly efficient and modern mining process.

“Cypress has established one of the largest lithium resources in the United States and Lilac is excited to work with the Cypress team to move this domestic resource towards commercial production,” said David Snydacker, CEO and founder of Lilac Solutions. “The United States is home to a variety of important players in the electric vehicle sector and is an epicenter for innovation. This Nevada project has the potential to deliver the critical raw material needed by every North American automaker to compete over the next decade.”

Cypress has developed an innovative leaching process which reduces the quantity of sulfuric acid needed to leach lithium from clay. After the lithium is leached into a sulfate solution (the “leachate”), Lilac can extract lithium from the leachate to produce a high-purity lithium solution (the “eluate”), which can be fed into conventional process equipment to produce a high-purity lithium carbonate or lithium hydroxide product.

Lilac extracted lithium from the clay leachate using Lilac’s patented ion exchange process. Following initial engineering work on the Cypress leachate, Lilac was able to recover 83% of lithium from the leachate while simultaneously rejecting greater than 99% of sodium, potassium, and magnesium impurities. The remaining lithium in the leachate can then be recycled back to the leaching stage to effectively allow further recovery of the lithium.

“Lilac’s results are promising and offers us another path forward to effectively recover lithium from our process solutions” said Cypress’ CEO Dr. Bill Willoughby. “Our project is a significant potential source of domestic lithium and we are pleased to be working with Lilac in applying their ion exchange technology.”

Cypress and Lilac plan to advance engineering work towards a pilot plant and commercial development. Cypress is now completing a Pre-Feasibility Study which incorporates the Lilac process.

About Lilac Solutions

Lilac Solutions is a lithium extraction technology company based in Oakland, California. Lilac has developed a patented ion exchange technology that facilitates production of lithium from brine resources with high efficiency, minimal cost, and ultra-low environmental footprint. Lilac’s mission is to scale global lithium production to support the electric vehicle industry and energy transition.

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