Cypress Development Corp. (TSX.V: CYP) (OTCQX: CYDVF) is a Canadian advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only lithium brine operation. The results of a positive Pre-Feasibility Study for the Clayton Valley Lithium Project were announced by Cypress Development in June 2020. Highlights of Pre-Feasibility Study: • Average annual production of 27,400 tonnes per year LCE. • Mine life for PFS of +40 years. • Lithium Carbonate price of $9,500 per tonne. • Industry-low cash cost of US$3,387 per tonne LCE. • US$1.03 billion NPV at 8% discount rate, after-tax basis. • After-tax internal rate of return (IRR) of 25.8% • Capex payback period of 4.4 years. • Production based on Probable Mineral Reserve of 213 million tonnes averaging 1,129 ppm Li (1.28 Mt LCE) based on cut-off grade of 900 ppm Li. • Reserves and production plan derived from an Indicated Mineral Resource of 1,304 million tonnes averaging 905 ppm Li (6.28 Mt LCE) based on a cutoff grade of 400 ppm Li. The PFS report supports further work with the recommendation to conduct a pilot plant study and initiating a feasibility study and permitting. Cypress Development is advancing its Clayton Valley Lithium Project in Nevada towards the production of high-purity lithium hydroxide (LiOH) suitable for tier one battery usage.