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2016-09-08

Cypress Development Corp: Cypress Acquires 2nd Lithium Project Adjacent to Silver Peak Mine in Clayton Valley, Nevada

VANCOUVER, British Columbia, Sept. 08, 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 entered into an Option Agreement to
acquire a 100% interest in a second Lithium Brine/Clay Project situated in
the heart of Clayton Valley, Esmeralda County, Nevada.

Dean Claims and Cypress' Clayton Valley Claims, Nevada map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Dean-Claims-2016.jpg

Cypress' new 2,700 acre "Dean" property (35 association placer claims) is
located immediately adjacent to Albemarle's Silver Peak lithium mine on the
west boundary, Pure Energy Minerals project on its southwest boundary and
Cypress' existing Clayton Valley project on its southern boundary.

Cypress' highly prospective Dean property is located within 400 metres east of
current and past producing lithium brine wells belonging to the Silver Peak
Mine operated by Albemarle. The Dean property also abuts the Northern
Resource Area of Pure Energy Minerals (see Pure Energy's NI 43-101 Technical
Report of July, 2015). The Pure Energy Minerals potential production wells
SPD 9, CV1, CV3 are located only 500 metres from the southwest area of the
Dean claims. The Dean claims are also tied onto the immediate north of
Cypress' existing Clayton Valley Lithium Clay/Brine Project where a detailed
aggressive work program is starting immediately. Cypress recently announced
an Option Agreement (see news release August 24, 2016) with Pure Energy
Minerals for its existing Clayton Valley Project whereby Cypress will remain
the operator of the Project until Pure Energy earns a 51% interest. The
Agreement allows Cypress to advance its existing Clayton Valley Project while
working with and utilizing the geological expertise of the Pure Energy team.

Pure Energy's South Project&Cypress' Existing Clayton Valley Project map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP_Clayton_Valley_South_Cy...

Cypress' Clayton Valley "Dean" claims are situated in a very active area of
Nevada for ongoing lithium brine production and lithium exploration.
Infrastructure such as power, roads, accessibility and exploration resources
are all readily available.

The Albemarle Silver Peak Lithium Mine is the only operating brine-based
lithium mine in North America. The Silver Peak Mine began operations in 1967
to mine lithium from abundant lithium bearing Main Ash brine aquifers known
in the Clayton Valley. The company has drilled hundreds of bore holes across
the Clayton Valley desert floor to mine the lithium by low cost evaporation
ponds for several decades.

Cypress has compiled and reviewed available geological data relating to the
Dean claims. The data appears to indicate very favorable lithium brine
exploration targets on the property. Several first order targets exist on the
property which include extensive outcroppings of altered green claystones and
the presence of paleo hot spring vents leading Cypress to believe that
additional lithium bearing brine aquifers could be localized at the water
table below the claystones and potentially also localized along structures
cutting across these units.

The Esmeralda geological formation is the known host rock unit for both
lithium brine production and for lithium mineralized evaporate rocks
currently being explored by Cypress in Clayton Valley. Known structures on
the Dean claims include the dominant Angel Island Fault, a district-scale
strike slip fault which trends through strongly fractured surrounding rock
units. This zone of pervasive fracturing is being targeted as a pathway for
brines to invade the underlying ash layers and also as a zone of high
porosity which itself could host lithium brine zones along strike.
Deformation along the Angel Island Fault is a complicated, but highly
prospective zone for the existence of structural traps for lithium brines.

Don Huston, President, commented, "Cypress has been working diligently in the
central Clayton Valley since late
2015 with the Company's main objective being the assembling of prospective
land packages with lithium-rich exploration potential concentrated on ground
immediately adjacent to current lithium brine production as well as tied on
to the best advanced stage exploration projects undergoing active development
of new lithium brine resources in the basin. The acquisition of the Dean
claims is the latest result in this effort and continues Cypress' strategy of
acquiring key acreage in the central Clayton Valley with a high potential for
near-term lithium resource development."

Terms of the Option Agreement for Cypress Development to purchase a 100%
interest in the Clayton Valley Dean claims are;

Year 1. $30,000 USD cash and 250,000 shares of Cypress
Year 2. $30,000 USD cash and 250,000 shares of Cypress
Year 3. $30,000 USD cash and 250,000 shares of Cypress
Year 4. $50,000 USD cash and 300,000 shares of Cypress

The Optionor will retain an NSR (net smelter return) of 3% with Cypress having
the right to purchase 2/3 (66.6%) of the NSR for $1,000,000. There is no work
commitment attached to this Option Agreement.

Cypress has already initiated a detailed surface and sub-surface sampling
program on the Dean claims. Initial assay results for lithium from the
abundant, green evaporite rich volcanoclastic claystone exposure on the
property will help direct the Company on expanding its work program in the
near future.

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 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 properties for both a lithium-brine resource,
and expanding exploration relating to the potential for lithium that exists
within the recently discovered "claystones", that has seen recent high grade
lithium assays recovered from these same "claystones".

Cypress Development Corp. has approx. 25.6 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.

"Don Huston"

DONALD C. HUSTON
President

For further information contact myself or:
Don Myers
Director
Cypress Development Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@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.

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.

---------------------------------------

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cypress Development Corp via Globenewswire

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