Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCBB: CYDVF) (Frankfurt: C1Z1) ("Cypress" or the "Company") is pleased to announce that it held its annual general meeting on June 08, 2016. The Company reports that Donald C. Huston, James Pettit, Donald G. Myers and Amanda Chow were re-elected directors of the Company. Shareholders also re-appointed Davidson & Company, Chartered Accountants, as auditors and approved the renewal of the Company's Incentive Stock Option Plan.
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded lithium and zinc-silver exploration company advancing projects in the State of Nevada, U.S.A.
Cypress' Clayton Valley Lithium Project is located in the heart of the Clayton Valley lithium brine exploration area of Esmeralda County, Nevada. The Company's 1520 acre Clayton Valley Project is located within 0.5 mile south of lithium brine wells belonging to the Albemarle Silver Peak Mine and the property shares its western boundary with Pure Energy's Northern Resource Area. 2016 sampling results show 2 kilometers of north-south strike of outcropping claystones that assay approximately 1,100 ppm Li on average and include a 1.0 kilometer strike length zone that averages 1350 ppm Li. The outcropping claystones are believed to represent uplifted portions of the stratigraphy within which the lithium brines of the basin are found and produced. A planned drilling program targeting lithium brines at Cypress' Clayton Valley Project will also include shallow holes targeting the wide areas of lithium rich claystones discovered at surface.
Cypress Clayton Valley Lithium Project, Nevada location map:
To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com.
Cypress Development Corp. has approx. 24.1 million shares issued and outstanding.
CYPRESS DEVELOPMENT CORP.
DONALD G. MYERS
For further information contact myself or:
President & CEO
Cypress Development Corp.
Toll Free: 800-567-8181
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.