VANCOUVER, British Columbia, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) (“Cypress” or the “Company”) is pleased to report results from the first four core holes on the Glory claims at the Company’s 100% held  project in Clayton Valley, Nevada. The drilling extends the trend of lithium mineralization by more than 2 kilometers south and west from the Dean claims, where, as previously reported, 14 drill holes in 2017 encountered lithium-bearing claystone over an area averaging 4 kilometers by 2 kilometers and averaging 78 meters in depth.  The four holes reported today represent the first drilling on the Glory claims. All four holes encountered lithium values averaging from 600 to 900 ppm Li from surface to depths up to 60 meters.    

Clayton Valley Project Location Map: 
https://www.cypressdevelopmentcorp.com/site/assets/files/3548/cyp-clayton-topo-satalite-small.jpg

Highlights:

• Lithium values were encountered in all 4 core holes at Glory, including 47.5 meters of 927ppm Li in GCH-04
• The results extend the trend of mineralization by more than 2 kilometers south and west of Dean, further demonstrating the large lateral extents of the lithium-bearing claystone
• Given success of its drill program, Cypress will recommence drilling shortly with details forthcoming
• An independent resource estimate is underway

Drill Hole Location Map:
https://www.cypressdevelopmentcorp.com/site/assets/files/3573/cyp_dean_and_glory_geology_mapsm.jpg

TABLE. Summary of Glory Drill Holes GCH-1 to GCH-4:

Notes: Li=Lithium Metal, ppm=parts per million, m=meters, Average is weighted value by sample length. All samples were submitted to Bureau Veritas in Reno, Nevada, for analysis. Blind sample blanks were inserted into the sample sequences at a rate of approximately 1 per 20 samples.

New Technical Report and Upcoming Drill Program at Clayton Valley Project:

In related activity, the Company has engaged Global Resource Engineers, of Denver, Colorado, to prepare a resource estimate for the Dean property. A NI 43-101 Technical Report on the geology and drilling of Dean has been completed and will be filed on SEDAR. Metallurgical testing, as reported in a previous press release on January 9th, has shown the lithium in Dean core is soluble in a solution of sulfuric acid. Testing is continuing at two independent labs, using Dean core from holes DCH-2 and DCH-5. Further results are expected to be reported this month.       

Given the success of this recently completed drill program, the Company will recommence drilling shortly on Dean. Further details of this upcoming drill program are forthcoming.

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 approved of the technical information in this release.

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 Development Corp. has approx. 54.5 million shares issued and outstanding.

To find out more about Cypress Development Corp. (TSX-V:CYP), visit our website at www.cypressdevelopmentcorp.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

VANCOUVER, British Columbia, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) (“Cypress” or the “Company”) is pleased to announce results from two more core holes from the Company’s Clayton Valley, Nevada drill program. Today’s results include an intersection of 107 meters of 1134 ppm Li within hole DCH-13 and 76 meters of 733 ppm Li within hole DCH-14, both located on the Dean property. Hole DCH-13 represents one of the longest and higher grade drill results from the property to date as Cypress continues to expand the lithium mineralized zone.

Cypress Clayton Valley, Nevada Lithium Project location map: 
https://www.cypressdevelopmentcorp.com/site/assets/files/3548/cyp-clayton-topo-satalite-small.jpg

Drilling Highlights:

• The intersections reported are the weighted average of all core recovered in each hole, from surface to the end of the hole. The results continue to demonstrate the presence of lithium mineralization over a large thickness of claystone.
• The two holes are located in between the fence of holes in DCH-10, -11 and -12, to the southwest and DCH-09, to the northeast, and support the observed continuity of mineralization over a long northeast trend, extending approximately 4 kilometers in length and 2 kilometers in width across the Dean property.
• In DCH-13, the lithium values increased at depth, starting 24.8 meters below surface, and averaging 1206 ppm Li over 88.4 meters.
• DCH-13 ended in 3.0 meters of 912 ppm Li. The hole was terminated due to operating constraints and remains open at depth.
• The grade increase was observed coincident with a redox boundary, where material above the boundary is oxidized and light grey in color, and material below the boundary it is reduced and dark grey and green to black in color. This redox boundary has been observed at similar depth from surface in other drill holes.
• Drilling in the fall 2017 program has been completed, with 4 holes drilled on the Glory property to the south. Results from these holes are anticipated later in the month.

2017 Dean & Glory Projects, Clayton Valley, Nevada drill hole map:
https://www.cypressdevelopmentcorp.com/site/assets/files/3573/cyp-dean-and-glory-drillingsm.jpg

TABLE. Summary of Dean Drill Holes DCH 13 and 14

Notes: ppm=parts per million, m=meters, Avg=average weighted value by sample length.

Laboratory Test Work

Extraction studies are underway to determine the solubility of the lithium and other mineral constituents within the claystone. Representative samples of oxidized and reduced material from DCH-05 were delivered to SGS in Lakefield, Ontario. These initial bench-scale scoping tests revealed moderate extractions of lithium in sulfuric acid solution, increasing to 74% in both sample types with increasing temperatures. The extractions were achieved with relatively low additions of sulfuric acid for lithium-bearing claystone deposits, measured at a rate of 140 kg to 170 kg of acid per tonne of material. The results are encouraging and clearly indicate that the extractions and acid consumptions of the Cypress’ Clayton Valley claystone are significantly better than seen in refractory claystone deposits. Further test work is underway to improve the results by refining the leach conditions, checking for any mineralogical variability across the properties, and determining methods of recovery of the lithium from the leach solutions.

Samples were ground to minus-10 mesh and leached with a solution of 5% sulfuric acid for 4 hours at 10% solids. The leach solution was monitored but no additional sulfuric acid was required to maintain the pH below 1.0. The mixture was then filtered and rinsed and residue and solutions submitted for assay. 

Resource Definition

The Company is reviewing drill results. Additional holes are planned for the first quarter of 2018 to infill and connect the Dean and Glory areas of drilling. The Company anticipates the further work will support a resource estimation and preliminary economic assessment (PEA) upon completion of the drilling, metallurgical studies and gathering necessary economic data.

Cypress believes its lithium-bearing claystone deposit in Clayton Valley, which is located due east of Albemarle’s Silver Peak lithium brine operation, has the potential to become a significant source of lithium. The Company is working to advance the project into development by following its program of exploration drilling and metallurgy. Cypress is very active in Nevada, with its geological team focused on systematically exploring its properties for lithium.

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 approved of the technical information in this release.

About Cypress Development Corp.:

Cypress Development Corp. is a publicly traded lithium and zinc exploration company that continues to acquire and develop potentially viable mineral projects in the State of Nevada, U.S.A.

Cypress Development Corp. has approx. 54.5 million shares issued and outstanding.

To find out more about Cypress Development Corp. (TSX-V:CYP), visit our website at www.cypressdevelopmentcorp.com.

CYPRESS DEVELOPMENT CORP.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

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.