TSXV: CYP | OTCQX: CYDVF
VANCOUVER, BC, Feb. 28,
2022 /CNW/ - Cypress Development Corp. (TSXV:
CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1)
("Cypress" or "the Company") is pleased
to announce that Wood PLC ("Wood") and Global Resource Engineering
("GRE") will be conducting the work required to complete a
Feasibility Study ("FS") in accordance with Canadian Securities
National Instrument 43-101 ("NI 43-101") on the Company's Clayton
Valley Lithium Project located in Nevada,
USA.
Since the establishment of NI 43-101 in 2001, Wood has been
responsible for, or involved in, the preparation of more than 300
such reports. Wood, as the lead consultants, will bring together
and author the overall report, including direct responsibility for
infrastructure, process design, processing facilities, tailings and
waste facilities, and environmental stewardship. GRE, which
completed the Preliminary Economic Assessment and Pre-Feasibility
Study on the Project, will be responsible for the geologic model,
estimation of resources and reserves, and compilation of mine plan
and mining production schedule. The financial model and market
studies will be mutually developed drawing upon data from
established research and investment firms.
Wood has completed numerous studies for mining projects in
Nevada as well as relevant studies
for various lithium projects globally, having just been awarded an
agreement last month with Green Lithium, the mineral processing
company, to be its Owner's Engineer to build and operate the UK's
first large-scale commercial lithium refinery.
Wood's extensive mining expertise and ability to provide
solutions across the complete asset lifecycle, enables
its clients to navigate the ever complex and changing sector
landscape, responsibly enabling the securement of
integral metals and minerals needed to resource the energy
transition.
About Wood
Wood is a global leader in consulting and engineering across
energy and the built environment, helping to unlock solutions to
some of the world's most critical challenges. We provide
consulting, projects, and operations solutions in more than 60
countries, employing around 40,000 people.
www.woodplc.com
About Global Resource Engineering
GRE is a multifaceted engineering firm specializing in the
mining industry. GRE's focus is to add value to a project and
company by understanding the client's needs by employing innovative
ideas and applying sound engineering practices, while maintaining
an economically driven approach.
www.global-resource-eng.com
About Cypress Development Corp
Cypress Development Corp. is a Canadian based advanced-stage
lithium exploration 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. Cypress is advancing
its Clayton Valley Lithium Project in Nevada towards the production of high-purity
lithium hydroxide suitable for tier one battery usage.
ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking
Statements
This release includes certain statements that may be deemed
to be "forward-looking statements". Forward-looking statements
are subject to risks, uncertainties and assumptions and are
identified by words such as "expects,"
"estimates," "projects," "anticipates," "believes," "could,"
"scheduled," and other similar words. 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.
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SOURCE Cypress Development Corp.
