Clayton Valley Lithium Project PFS Shows Positive Economics

Clayton Valley Lithium Project
Basic Shares
Outstanding:
121.0 m
FD Shares
Outstanding:
147.5 m
Market
Capitalization:
C$133 m
CYP (TSX-V) | CYDVF (OTCQB) | C1Z1 (Frankfurt)
May 2021

2
Forward Looking Statements
Some of the statements in this document may be deemed to be
"forward-looking statements." All statements in this document,
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.
Qualified Person as defined by National Instrument 43-101 and
supervised the preparation of the technical information in this
presentation is William Willoughby, PhD, PE, Director and CEO
of Cypress.
CYPRESS DEVELOPMENT CORP

3
Cypress Capital Structure
Basic Shares Outstanding 121.0 million
FD Shares Outstanding * 147.5 million
Market Capitalization C $ 133 million
Cash Position C $ 20 million
Trading Symbols
TSX Venture Symbol CYP
US OTCQB Market CYDVF
Frankfurt Exchange Symbol C1Z1
* Warrants 21.4 million
* Options 5.8 million

4
Management & Directors
William Willoughby, PhD, PE
CEO, DIRECTOR
Doctorate in Mining Engineering & Metallurgy
from University of Idaho (1989)
Registered Professional Engineer (since 1985)
SME Registered Member (since 2015)
Cypress CEO (Since 2017)
Founder & CEO Caliber Minerals (since 2017)
Owner Willoughby & Associates (since 2015)
International Enexco (2007-2014)
Teck (Cominco) (1989-2007)
Donald C. Huston
PRESIDENT, CHAIRMAN
Cypress Chairman and President, 35 years
experience in financing and operating mineral
exploration projects including 15 years in
geophysical contracting, Director for four
publicly traded Canadian companies.
James G. Pettit
DIRECTOR
Non-executive Director, 30 years experience in
corporate finance, executive management &
compliance. Present CEO of Aben Resources,
Director for five publicly traded Canadian
companies.
Donald Myers
DIRECTOR
Non-executive Director, Audit Committee
35 years experience in management,
communications and investor relations of
Canadian and US listed resource and
technology companies.
Amanda Chow, CPA, CMA
INDEPENDENT DIRECTOR
Chartered Professional Accountant (CPA, CMA)
Bachelor of Business Administration from
Simon Fraser University, 21 years experience in
corporate finance.
Braam Jonker, CPA
CFO
Cypress CFO. Accomplished financial leader in the
mining industry, 30 years of experience
Overseen raising of $750 mil in financing
Registered Chartered Accountant in British
Columbia, (Canada), England, Wales and South
Africa

5
Advisors & Consultants
Corby Anderson, PhD, PE
Technical Advisor, Metallurgy
Doctorate in Mining Engineering & Metallurgy
from University of Idaho (1989)
Harrison Western Professor in the Kroll Institute
for Extractive Metallurgy as part of the Mining
and George S. Ansell Department of
Metallurgical and Materials Engineering at the
Colorado School of Mines
Todd Fayram, MMSA-QP
Consultant, QP Metallurgy
Master of Science in Metallurgical Engineering
from Montana Tech of the University of Montana
Owner Continental Metallurgical Consultants
Daniel Kalmbach, CPG
Consultant, QP Geology
Bachelor of Science in Geology from University
of Idaho, Certified Professional Geologist
American Institute of Professional Geologists.
22 years experience in exploration, mine
geology and environmental management
VP Exploration for Caliber Minerals
Adam Knight, PE
Consultant, Project Manager
Bachelor of Science in Mining Engineering
University of Nevada, Professional Engineer,
Nevada, 26 years experiences in management
and operations of mining companies
VP Operations for EMC Metals
William Breen, PGeo
Consultant, Land Manager
Bachelor of Science in Geology from University
of Idaho, Registered Member SME
Professional Geologist, Wyoming
Licensed Geologist, Washington
Donald Mosher
Advisor, Corporate Development
Simon Dyakowski, CFA, MBA
Advisor, Capital Markets

6
Investment Highlights
A designated U.S. strategic mineral forecast
for significant growth in demand
In top 3 most favorable mining jurisdictions (Fraser
Institute 2017-2019) 3 hours from the Tesla Gigafactory
First Drill Hole - February 2017
Preliminary Economic Study - October 2018
Positive Prefeasibility Study - August 2020
Extensive surface deposit in unique setting
adjoining Albemarle’s Silver Peak brine operation
Lithium Nevada
Claystone Advanced Project

7
Lithium: US “Critical Mineral”
• US Government designated Lithium as a “Critical
Mineral” of strategic importance in December
2017. (Executive Order 13817 – A Federal Strategy
to Ensure, Secure and Reliable Supplies of Critical
Minerals)
• “Critical Mineral” designation favours domestic
sources of Lithium across the supply chain
• Section 3 of the policy calls for identification of new
sources of the minerals, increasing exploration
mining and processing and streamlining permitting

Lithium-ion Battery Demand by End Use Sector
8
This chart outlines the key drivers of demand for lithium-ion batteries over the forecast period. The major
growth area is EVs, followed by stationary (grid) applications. In our base case scenario we expect
demand will be 135,000 MWH in 2018, reaching 760,000 MWH by 2025, and 4M MWH by 2035.
SOURCE: BENCHMARK MINERAL INTELLIGENCE – CYPRESS DEVELOPMENT CORP – AUGUST 2018
0.0
1.0
2.0
3.0
4.0
5.0
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Stationary
Other
Electric Vehicles
EV Downside
EV Upside

9
Nevada Location
100% owned Property
3% NSR royalty
Option to buy-down to 1% for $2 million
U.S. Federal BLM Lands
Project Area covering 5,430 acres (formerly Dean and Glory Projects)
North Geothermal Lease 640 acres
Cypress
Project
Las Vegas
Tesla
Factory
Cypress
Geothermal
Lease
Cypress
Claims
Albemarle
Silver Peak
Brine Operation
Cypress
Project

10
Lithium Deposit Types
Sedimentary Brine Hardrock
Mine Product
Lithium Carbonate
(Li2CO3)
Lithium Carbonate
(Li2CO3)
Spodumene Concentrate
(6% Li2O)
Typical Grade 1,000-3,000 ppm Li 500-1,000 ppm Li 4,500-7,000 ppm Li
Production Steps
Mining
Acid Leaching
Evaporation
Crystallization
Pumping of Brine
Evaporation
Crystallization
Mining
Crushing and Grinding
Roasting
Acid Leaching
Evaporation/Crystallization
Estimated Cash Costs
($/tonne Li2CO3 )
$3,387
*Cypress PFS
$2,500 – 4,000 ** +$6,000 **
** Industry and company reports

11
Prefeasibility Study Results (August 2020)
25.8%
Internal Rate of Return (IRR)
$1.03 billion
Net present value (NPV 8%)
4.4 years
Payback Period
15,000 tpd for 40 years
Operating Rate
$493 million over 2 years
Capital Cost Estimate
83%
Net Lithium Recovery
$9,500/tonne
Base case price for lithium carbonate
27,400 tonnes
Average production lithium carbonate
$3,387/tonne
Operating Cost for Lithium
After-Tax Cash Flow Analysis (US Dollars)

12
Clayton Valley Highlights
CYPRESS DEVELOPMENT CORP |
Multi-million tonne LCE resources and reserves
Large Size
Next to Albemarle’s Silver Peak brine operation
Accessible Location
First drill hole February 2017
Rapidly advancing, PFS completed August 2020
New Discovery
Easy Mining
Flat deposit, no overburden
Soft clay, no drill & blast
Leachable clay, low acid consumption
Potential by-products, including REEs
Low-Cost Processing

13
Sedimentary Hosted Lithium Projects
Project
Clayton Valley
(TSXV:CYP)
Operating Cost
~$3,400 / tonne
LCE
Development
Stage
PFS
Market Cap (C$) 127 MM
Project
Thacker Pass
(TSX:LAC)
Operating Cost
~$2,600 / tonne
LCE
Development
Stage
PFS
Market Cap (C$)
2,393 MM
*Argentina + Nevada Assets
*Majority of MC due to Brine
Project
Rhyolite Ridge
(ASX:INR)
Operating Cost
~$2500 / tonne
LCE
Development
Stage
FS
Project
Sonora
(AIM:BCN)
Operating Cost
~$3,400 / tonne
LCE
Development
Stage
FS
2393
754
252
127
0
500
1000
1500
2000
2500
3000
Lithium Americas
(TSX:LAC)
Ioneer Ltd (ASX:INR) Bacanora Lithium
(AIM:BCN)
Cypress Development
(TSXV:CYP)
Market Capitalization (CAD)

14
History
Albemarle Corporation
(NYSE:ALB) acquires
Rockwood Holdings and
Silver Peak brine operation in
Clayton Valley
2014 2016 2018 2020
2015 2017 2019
Tesla Motors breaks ground on
$5 B Gigafactory in Sparks
Nevada
Cypress acquires claims in
Clayton Valley, begins surface
exploration
Cypress begins drilling and
metallurgical tests, identifies
sulfuric acid leaching as means
to extract lithium from Clayton
Valley claystone
Preliminary Economic
Assessment shows positive
results in leaching with sulfuric
acid
In-fill drilling, metallurgical and
processing- related testing,
permitting and due diligence
studies with interested parties
Prefeasibility Study completed
Pilot plant recommended
Elon Musk at Battery Day
makes comments on leaching
Nevada clay with salt

15
Clay Deposit
• Extensive volcanic-derived
claystone east and south of brine
field and Angel Island
• Lithium in illite and montmorillonite
clays to depth of at least 150 m
below surface
• Layer-cake-like geometry with
lithium-bearing claystone
outcropping at surface

16
Resources
Indicated
Tonnes (Million) Li ppm Tonnes LCE (million)
1,304 905 6.3
1.The effective date of the Mineral Resource Estimate is August 5, 2020. The
QP for the estimate is Ms. Terre Lane of Global Resource Engineering Ltd.
and is independent of Cypress.
2.The Mineral Resources were determined at a cutoff grade of 400 ppm Li and
specific gravity of 1.505.
3.The Mineral Resource estimate was prepared with reference to the 2014
Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition
Standards (2014 CIM Definition Standards) and the generally accepted
Canadian Institute of Mining’s (CIM) “Estimation of Mineral Resources and
Mineral Reserves Best Practice Guidelines. (November 29, 2019).
4. Cautionary statements regarding Mineral Resource estimates: Mineral
Resources are not Mineral Reserves and do not have demonstrated economic
viability. There is no certainty that all or any part of the Mineral Resource will
be converted into Mineral Reserves. Inferred Mineral Resources are the part
of a Mineral Resource for which quantity and grade or quality are estimated on
the basis of limited geological evidence and sampling. Geological evidence is
sufficient to imply but not verify geological and grade or quality continuity.
CVLP view northwest from near DCH-7

17
Reserves
Probable Reserve
Tonnes (Million) Li ppm Tonnes LCE (Million)
213 1,129 1.28
1. The effective date of the Mineral Reserve Estimate is August 5, 2020. The
QP for the estimate is Ms. Terre Lane of Global Resource Engineering Ltd.
and is independent of Cypress. 2. The Mineral Reserve estimate was
prepared with reference to the 2014 Canadian Institute of Mining, Metallurgy
and Petroleum (CIM) Definition Standards (2014 CIM Definition Standards)
and the with generally accepted Canadian Institute of Mining’s (CIM)
“Estimation of Mineral Resources and Mineral Reserves Best Practice
Guidelines (November 29, 2019). 3. Mineral Reserves are reported within the
pit design at a mining cutoff of 900 ppm. 4. The cutoff of 900 ppm is an
optimized cutoff selected for the mine production schedule. 5. The Mineral
Reserves are derived from and not separate from the Mineral Resources. 6.
Mineral Reserves are estimated based on delivery to the mill stockpile. 7. No
Inferred Resources are included in the Mineral Reserves or given value in the
economic analysis
Silver Peak Highway with Angel Island in center looking west

18
PFS Design Assumptions
• Operating rate of 15,000 tpd
• (5.5 million tpy claystone )
• Production of 27,400 tonnes LCE
• Plant site on flank of Angel Island
• Conveyor from pit to leach plant
• 2,500 tpd sulfuric acid plant on site

19
Mining
• Soft material, no drilling and blasting
• Mining by excavator to feeder breaker
• Shallow long surface cut allows all-
conveyor transport to mill
• Negligible stripping, < 0.29 tonne of
waste per tonne of mill feed
• Mine plan for 15,000 tpd mill feed
• 5.475 million tpy average 0.11% Li
Processing
• 2,500 tpd sulfuric acid plant on-site
• Clay feed to attritor and agitated tank
leaching, heated to 50-70°C
• Solid-liquid separation in filtration plant
• Leach solution treated in lithium
recovery plant by proprietary process
to remove Ca, Mg, Fe, and Al
• Lithium concentrate solution treated by
evaporation and electrolysis to produce
lithium hydroxide on-site

20
Process
Flow Diagram
Mining
Feed
Preparation
Leaching Filtration
Lithium
Recovery
Lithium
Product
Tailings
Acid
Plant
Process
Water
Return to
Process Water

21
Facilities
Arrangement

22
Capital Cost
Estimate
Area $ x 1,000
Facilities 5,891
Mine 34,768
Plant 306,855
Infrastructure 25,907
Owners Costs 24,992
Contingency & Working Capital 94,704
Total Capital Cost 493,115
Area $ x 1000
Feed Preparation 10,731
Leaching 14,358
Filtration 32,211
Tailings Handling 3,589
Li Recovery 44,930
Acid Plant 102,585
Construction Directs 56,858
Total Direct 265,262
Indirect 41,593
Total Plant 306,855

23
Operating Cost
Estimate
Area
Avg Annual
$ x 1000
Mill Feed
$/t
Mining 10,787 1.98
Processing 77,758 14.27
G&A 3,550 0.65
Total 91,925 16.90

24
Economic
Model

25
Path to Production
H1 - 2021
Complete Study on Chloride Leach
Conduct Pilot Plant Test Program
- Basis for Feasibility Study
- Demonstrate Customer Acceptance
Produce lithium product marketing samples
2022
Submit Plan of Operations
Begin Environmental Impact Statement
H2 - 2021
Secure Water Source
Complete Feasibility Study
Prepare Plan of Operations
2023
Obtain Record of Decision
Begin Project Construction

26
Appendix: Lithium Market Fundamentals

Current Lithium Supply and Breakdown by End-Use
248,583
122,068
126,515
Battery
Demand
Other
Demand
27
Lithium
Carbonate
(54%)
Lithium
Hydroxide
(46%)
NCA
(14%)
NCM
(29%)
LCO
(30%)
Other
LTO (1%)
LFP (22%)
LMNO
LMO (3%)
Stationary
grid storage
(3%)
Electric
Vehicles
(61%)
Other (36%)
Metallurgy (9%)
Lubricant &
Grease (17%)
Class &
Ceramics (37%)
Medical (5%)
Air Treatment (7%)
Other (25%)
Total
Lithium
Demand
in
2018
(LCE
tonnes)

85,000
125,000 125,000 125,000
30,000
31,500 31,500 31,500
28,000
28,000 28,000 28,000
184,500
2030
184,500
2018
184,500
2035
2023
143,000
Talison
Galaxy Resource
Neometals
28
Brownfield Lithium Capacity Forecast to 2035
Albemarle SQM
2018 2023
94,000
2030
155,000
155,000
2035
125,000
55,000 70,000 85,000 85,000
39,000
55,000
70,000 70,000
FMC Orocabre
14,000
30,000 35,000 35,000
18,000
27,000
30,000 30,000
65,000
65,000
2035
2023
2018 2030
57,000
32,000
3,000 3,000 3,000 3,000
Albemarle
2035
2018 2023 2030
2,000 2,000 2,000 2,000
1,000 1,000 1,000 1,000
2035
2023
2018
3,000
2030
3,000
3,000 3,000
Arqueana de Minérios e Metals Ltda.
Companhia Brasileira de Litio
5,000 5,000 5,000 5,000
2,000 2,000 2,000 2,000
2030
2018
7,000
2023 2035
7,000
7,000 7,000
Sociedade Mineira de Pegmatites
Bikita Minerals
6,000
10,000 10,000 10,000
4,000
6,000 6,000 6,000
3,000
3,000 3,000 3,000
3,000
3,000 3,000 3,000
23,000
2018
17,000
23,000
2035
2023 2030
23,000
Jiangxi Special Electric
Yichun Tani
Fozhao Lanke
Tibet Mineral Development
Qinghai Lithium
Brine
Hardrock
Brine and Hardrock
‘000 LCE tonnes

Greenfield Lithium Capacity Forecast to 2035
Tawana Resources (Pos)
Core Exploration Ltd (Pos)
Kidman Resources SQM (Pos)
Altura Mining (HP)
Pilbara Minerals (HP)
20,000
75,000 80,000 80,000
30,000
40,000 40,000
30,000
30,000 30,000
12,000
30,000
30,000 30,000
20,000
20,000 20,000
185,000
2035
2030
2018
200,000
2023
200,000
32,000
China Minmetals (Pos)
Chinese Producers (Pos)
Chinese Producers (Prob)
15,000
25,000 25,000
20,000
20,000 20,000
10,000
10,000 10,000
5,000
2018 2023
55,000
2030 2035
45,000
55,000
2,000
25,000 25,000
20,000
20,000 20,000
12,000
18,000
9,000
9,000
9,000
9,000
84,000
2018 2023 2030 2035
48,000
58,000
Rio Tinto - Serbia (Pos)
Savannah - Portugal (Pos)
Grupo Mota - Portugal (Pos)
Keliber - Finland (Pos)
Birimian Limited - Mali (Pos)
Desert Lion Energy - Namibia (Prob)
25,000 25,000
25,000
25,000 25,000
20,000 20,000
15,000
20,000 20,000
8,000
10,000 10,000
2023 2030 2035
100,000
56,000
100,000
Argosy (Pos)
Galaxy Resource (HP)
LSC (Pos)
Millennial Lithium (Pos)
Lithium Americas (Pos)
45,000
60,000
27,000
27,000
10,000
17,000
17,000
20,000
30,000
119,000
144,000
2035
2030
21,000
2023
Galaxy Resource (Pos)
Pure Energy Minerals (Pos)
Nemaska Lithium (HP)
Piedmont Lithium (Pos)
Global Geoscience (Pos)
Lithium Americas (Pos)
Brine
Hardrock
Brine and Hardrock
2018 2035
2030
2023
5,000
25,000 25,000 25,000
20,000
35,000 35,000
Bacanora Minerals Ltd (Pos)
AMG (HP)
‘000 LCE tonnes
HP – Highly probable
Prob – Probable
Pos – Possible
29

Lithium Capacity Forecast to 2035
30
0.20
0.70
0.10
0.80
0.00
0.30
0.40
0.50
0.90
0.60
1.00
2030 2035
2029
2019
2015
Million LCE tonnes
2016 2017 2018 2020 2021 2022 2023 2034
2024 2025 2026 2027 2028 2031 2032 2033
Operational supply
Highly Probable additonal tonnes
Possible additonal tonnes
Probable additonal tonnes

Lithium Demand-Supply Balance, 2015-2035
31
0.0
4.0
5.0
2030 2035
2029
2019
2015
Million LCE tonnes
2016 2017 2018 2020 2021 2022 2023 2034
2024 2025 2026 2027 2028 2031 2032 2033
For the supply forecast we have divided the forecast into three main phases, which
reflect the development of the market over time, these are:
Phase 1, 2015-2018:
In this phase the supply-demand balance is very tight, with demand growing faster than
new capacity expansions. New supply is largely from development of brownfield sites at
operating producers
Demand - Upside
Demand - Base
Possible additonal tonnes
Demand - Downside
Unplanned necessary capacity - Base Case
Probable additonal tonnes
Operational supply
Highly Probable additonal tonnes
Phase 2, 2019-2025:
Phase two sees new supply start to come online from greenfield projects, as well as
expansions at existing producers. The market moves into a period of relative oversupply
by the end of the period
Phase 3, 2026-2035:
Towards the latter part of the forecast period there is a marked requirement for further
as yet announced lithium capacity to come on-stream to meet rising demand. We expect
that prices will remain in a range needed to stimulate this new investment, given that
geological constraints are not an issue.
3.0
2.0
1.0

Contact
William Willoughby, PhD, PE
DIRECTOR, CHIEF EXECUTIVE OFFICER
Donald C. Huston
CHAIRMAN, PRESIDENT
Don Myers
CORPORATE COMMUNICATION
info@cypressdevelopmentcorp.com
www.cypressdevelopmentcorp.com
Suite 1610, 777 Dunsmuir Street
Vancouver, BC, V7Y 1K4, CANADA
Tel: (604) 687-3376
Fax: (604) 687-3119

Clayton Valley Lithium Project PFS Shows Positive Economics

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