VANCOUVER, British Columbia, May 04, 2016 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) (“Cypress” or the “Company”) is pleased to announce that the Company has acquired, via staking, an additional 12 placer claims as a compliment to Cypress’ existing land package located in the heart of the Clayton Valley, Nevada lithium brine exploration area.
Cypress Clayton Valley Lithium Project, Nevada location map:
Cypress' 1520 acre Clayton Valley Project is located on the south flank of "Angel Island" and immediately southeast of the Albemarle Silver Peak lithium mine. Cypress' Clayton Valley claims share their western boundary with claims controlled by Pure Energy Minerals.
Cypress Clayton Valley Lithium Project, Nevada claims map:
The newly acquired placer claims are ideally located immediately adjacent to the east of Pure Energy Mineral’s CV-4 and CV-5 spudded brine wells that were completed in January and February 2016.
Cypress believes that the 2 new groups of claims will have an impact on the area of influence of any potential lithium brine production from the eastern portion of Clayton Valley south.
The Company will assess all available and pertinent data for this latest land package to be able to determine what exploration programs could be initiated at the same time as Cypress is carrying out its planned Phase 3 drill program targeting lithium brines at the Company's Clayton Valley Project which will also include the drilling of shallow auger holes targeting areas of strongly lithium mineralized claystones recently discovered at surface.
Cypress Clayton Valley Project Proposed Drill Hole Locations:
Robert Marvin, P.Geo., Exploration Manager for 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-silver exploration company developing projects in Nevada, U.S.A.
Cypress Development Corp. has approx. 24.1 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.
DONALD C. HUSTON
For further information contact myself or:
Cypress Development Corp.
Toll Free: 800-567-8181
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.
Source:Cypress Development Corp