VANCOUVER, B.C., June 21, 2017 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) (“Cypress” or the “Company”) is pleased to announce that Dr. Bill Willoughby, PE, has agreed to join Cypress’ Technical Advisory Board. Dr. Willoughby will assist Company management in the ongoing exploration and development of its 100% held Dean Lithium Project in Nevada, as Cypress moves towards a resource estimate and economic studies of the project.
Cypress Clayton Valley, Nevada Lithium Projects location map:
Dr. Willoughby is a mining engineer with 38 years of experience in all aspects of mining projects, including underground and surface mining operations, process development, technical studies, permitting and financing. Since 2014, he has been principal, owner of Idaho-based consulting firm Willoughby & Associates, PLLC. Prior to forming Willoughby & Associates, he was President & COO of International Enexco Ltd., which was acquired by Denison Mines in 2014, and was a mining engineer with Teck/Cominco since 1989. Dr. Willoughby has been a Professional Engineer since 1985, and received his Doctorate in Mining Engineering & Metallurgy from the University of Idaho in 1989.
Don Huston, President of Cypress Development stated, “Bill Willoughby is an excellent addition to the advisory board of Cypress. He brings a wealth of mineral knowledge and professionalism to the Cypress exploration team. Dr. Willoughby’s experience with metallurgy and surface mining operations will be a great asset to the Company moving forward with its new discovery of Lithium on our Clayton Valley, Nevada project.”
In other news Cypress announces, pursuant to its stock option plan, it has granted incentive stock options to its directors, officers, employees and consultants to purchase up to an aggregate of 260,000 common shares in the capital stock of the Company, exercisable for a period of five years, at a price of $0.10 per share. The Company's 10% rolling stock option plan was approved by the shareholders at the Annual General Meeting of the Company held on June 08, 2016.
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 is very active in Clayton Valley, Nevada with its team committed to systematically exploring its Dean and Glory properties for both a lithium-brine resource and expanding exploration relating to a lithium resource that exists within the large area of non-hectorite “claystone” discovered at surface that has seen recent high lithium assays recovered from these same “outcropping claystone”.
Cypress Development Corp. has approx. 35.0 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