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Cypress Development Corporate Presentation

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Cypress Development Corporate Presentation

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Cypress Development (TSX.V: CYP) (OTCQX: CYDVF) 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.

Cypress Development (TSX.V: CYP) (OTCQX: CYDVF) 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.

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Cypress Development Corporate Presentation

  1. 1. Corporate Presentation February 2022
  2. 2. 2 Cautionary Statement CYPRESS DEVELOPMENT CORP TECHNICAL INFORMATION Scientific and technical information in this presentation about the Cayton Valley Lithium Project was reviewed and approved by William Willoughby, PhD, PE, Cypress Development Corp.’s President, CEO and Director and a qualified person under National Instrument 43- 101 Standards of Disclosure for Mineral Projects (NI 43-101). More detailed information about the Clayton Valley Lithium Project, including a description of key assumptions, parameters, methods and risks, is presented in the NI 43-101 technical report of Cypress Development Corp. dated effective August 5, 2020 – amended March 15, 2021, titled “NI 43-101 Technical Report Prefeasibility Study Clayton Valley Lithium Project Esmeralda County, Nevada”, available on SEDAR. The Mineral Resource and Mineral Reserve estimates contained in this presentation were prepared in accordance with the requirements of securities laws in effect in Canada, including NI 43-101, which governs Canadian securities law disclosure requirements for mineral properties. NI 43-101 differs significantly from the requirements of the United States Securities and Exchange Commission (SEC) that are applicable to domestic United States reporting companies. Any mineral reserves and mineral resources reported by the Company herein may not be comparable with information made public by United States companies subject to the SEC’s reporting and disclosure requirements. ADDITIONAL REFERENCE MATERIALS This presentation should be read in conjunction with Cypress Development Corp.’s (Company) news releases, latest Management Discussion and Analysis and Financial Statements for the nine months ended September 30, 2021, Technical Reports, Annual Information Form and Management Information Circular, for full details of the information referenced throughout this presentation. These documents are available on the Company’s website at www.cypressdevelopment.com or on SEDAR. FORWARD LOOKING STATEMENTS This document contains forward looking statements and information within the meaning of applicable Canadian and United States securities legislation and readers should read the cautionary notes contained on the slide titled “Forward Looking Statements & Disclaimer” in the Appendix of this document.
  3. 3. 3 WHY Cypress CYPRESS DEVELOPMENT CORP • Large land package • 40+ year life of mine • Multi-million tonne LCE Resources & Reserves ✓ • 20 Acres at Tonopah Airport Industrial Park • Large Facility Permitted for pilot testing • Lionex Direct Lithium Extraction (“DLE”) license purchase with Chemionex inc. • Unique ClorAlkali process • Water Rights Agreement – Completed Dec 2021 • Water resources in Nevada are limited • Essential in developing Clayton Valley Lithium Project Resources Technology Facility Water
  4. 4. 4 2022 Objectives CYPRESS DEVELOPMENT CORP ✓ BOT Deal financing $18.1M ✓ Expanded lease on pilot plant (Amargosa Valley) ✓ Completed 3-, 7-, and 14-day continuous testing ✓ Contracting Feasibility Study consultants ✓ Contracting Environmental consultants for permitting ✓ Additional bulk sampling for continued pilot plant operation ✓ Hydrogeologic work to utilize water permit
  5. 5. 5 CYPRESS DEVELOPMENT CORP Issued & Outstanding 134.1 M Warrants 11.5 M Options 6.3 M Fully Diluted 151.9 M Market Capitalization ~$ 230 M Cash Position* Bought Deal Financing ~$ 22.9 M $18.1 M TSXV 52 Week High – Low OTCQX 52 Week High – Low $2.61 – $0.83 US$2.13 – $0.68 TSXV: CYP OTCQX: CYDVF • As at January 31st, 2022 • Chart Updated February 14th, 2022 • * Cash position does not include funds from Bought Deal Financing • Bought Deal Financing Closed February 4th, 2022
  6. 6. Board of Directors CYPRESS DEVELOPMENT CORP Cassandra Joseph, Esq. CHAIR 20+ years legal experience in mining and metals, environmental and corporate law William Willoughby, PhD, PE PRESIDENT, CEO & DIRECTOR 45+ years of experience in all aspects of natural resources development, production and financing Bryan Disher DIRECTOR 37+ years of experience in corporate finance, retired partner from PwC Canada, CPA, CA Don Myers DIRECTOR 35+ years experience in management and investor relations for resource and technology companies Ken Owen M.Sc DIRECTOR 40+ years experience in mining management including De Beers, Anglo American and SRK James G. Pettit DIRECTOR 30+ years experience in corporate finance, executive management & compliance 6
  7. 7. Management CYPRESS DEVELOPMENT CORP 7 William Willoughby, PhD, PE PRESIDENT, CEO & DIRECTOR 45+ years of experience in all aspects of natural resources development, production and financing Abraham (Braam) Jonker, CPA, CA CHIEF FINANCIAL OFFICER 30+ years experience in natural resources and accomplished financial leader in the mining industry Daniel Kalmbach, CPG MANAGER, GEOLOGY 22+ years experience in natural resources geology and environmental project management Adam Knight, PE PROJECT MANAGER 26+ years experience in management and operations of mining corporations Spiros Cacos, MA VICE PRESIDENT, INVESTOR REALTIONS 20+ years experience in investor relations, ranging from exploration and development to production
  8. 8. 8 Lithium: US “Critical Mineral” CYPRESS DEVELOPMENT CORP ✓ 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
  9. 9. US Policy President Biden Executive Order 146017 Department of Energy (DOE) Advanced battery report (100-day review) Strengthen US manufacturing requirem ents: federally- funded grants, R&D contracts, co-op agreements. Procure stationary battery storage. Financing of advanced battery supply chain for EVs Release National Blueprint for Lithium Batteries. The program has $17 billion in loan authority. Blueprint includes 5 critical goals and key actions, with proposed near-term and long-term objectives. $260 million+ in project investments, including E S S $ 2 0 0 million+ to support battery technology research, development, demonstration. $8 billion+ in climate and energy innovation The Federal Energy Management Program (FEMP) –evaluate opportunities for E S S at federal sites and provide technical assistance. Advanced Technology Vehicles Manufacturing Loan Program (ATVM) –loans to manufac- turers of advanced technology vehicle battery cells & packs The Federal Consortium on Advanced Batteries (FCAB) - 10- year plan to develop a domestic lithium battery supply chain 9 SOURCE: BENCHMARK MINERAL INTELLIGENCE – Q4 2021 Forecast – CYPRESS DEVELOPMENT CORP
  10. 10. Lithium chemicals balance (tonnes LCE) 40,000 20,000 0 -20,000 -40,000 -60,000 -80,000 -100,000 -120,000 -140,000 -160,000 -180,000 -20 0,0 0 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 0 2 4 2 0 2 5 2 0 2 6 2027 2 0 2 8 2 0 2 9 2030 Lithium Hydroxide Lithium Carbonate 6,000,000 5,500,000 5,000,000 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 2018 2038 2025 2015 2020 2016 2022 2040 2017 2019 2021 2023 2024 2026 2027 2032 2028 2029 2039 2030 2031 2033 2036 2034 2035 2037 Demand Lithium Carbonate Lithium Hydroxide SOURCE: BENCHMARK MINERAL INTELLIGENCE – Q4 2021 Forecast – CYPRESS DEVELOPMENT CORP 10
  11. 11. * Adjoining Cypress Nevada Lithium Projects CYPRESS DEVELOPMENT CORP Host COMPANY PROJECT PROJECT STATUS Brine Albemarle * Silver Peak Operation Producing Schlumberger/ Pure Energy * Clayton Valley PEA, Pilot Plant, Permitted Clay / Claystone Ioneer Rhyolite Ridge Feasibility, Pilot Plant Lithium Americas Thacker Pass PFS, POO, Pilot Plant Cypress Development Clayton Valley PFS, Pilot Plant Iconic Bonnie Claire PEA Noram Lithium * American Lithium Enertopia * Spearmint * Zeus Tonapah Clayton Valley McGee PEA Resource Estimate Resource Estimate Resource Estimate 11
  12. 12. 12 Project Location CYPRESS DEVELOPMENT CORP Clayton Valley Lithium Project Amargosa Valley Pilot Plant ✓ 100% owned ✓ 6,500 acres federal BLM claims ✓ 3% NSR ✓ Option to buy-down to 1% for $2M
  13. 13. 13 Pilot Plant CYPRESS DEVELOPMENT CORP Amargosa Valley Site ✓ Permitted for operation ✓ Existing facility ✓ Management and operators in place
  14. 14. 14 Resources CYPRESS DEVELOPMENT CORP INDICATED Tonnes (Million) Li ppm Tonnes LCE (million) 1,304 905 6.3 Reserves PROBABLE RESERVE Tonnes (Million) Li ppm Tonnes LCE (Million) 213 1,129 1.28 Note: See footnotes on determination of Resources and Reserves in the Appendix and the Prefeasibility Study; effective date August 5, 2020 - amended March 15, 2021.
  15. 15. 15 Deposit Features CYPRESS DEVELOPMENT CORP ✓ Extensive flat-lying deposit ✓ Lithium in illite and montmorillonite clays to depth of at least 150m below surface ✓ Minimal gravel overburden ✓ Soft clay, requires no drilling & blasting ✓ Leachable clay, low acid consumption ✓ Potential by-products, including REEs
  16. 16. 16 Pre-Feasibility Study Results * CYPRESS DEVELOPMENT CORP 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) * Effective Date August 5, 2020 Amended March 15, 2021
  17. 17. 17 PFS Design Assumptions CYPRESS DEVELOPMENT CORP ✓ Operating rate of 15,000 tpd ✓ 5.5 million tpy mill feed @ 1100 ppm Li ✓ 40-year mine life ✓ < 0.3 : 1 strip ratio (O/B to feed) ✓ Conveyor from pit to leach plant ✓ 2,500 tpd sulfuric acid plant on site ✓ Agitated tank leaching followed by DLE recovery of Lithium ✓ Production of Lithium Hydroxide on-site ✓ Production estimate of 27,400 tonnes LCE TAILINGS PIT Waste PLANT Low grade
  18. 18. 18 Processing Options CYPRESS DEVELOPMENT CORP Mining Feed Preparation Leaching Filtration Lithium Recovery Lithium Product Tailings Acid Plant Process Water Return to Process Water Mining Feed Preparation Leaching Filtration Lithium Recovery Lithium Product Tailings Acid Plant Process Water Return to Process Water Sulfuric Acid (H2SO4) Sulfur (trucked to site) Electric Power (No Co-Gen) Hydrochloric Acid (HCl) Co-Gen Power NaCl (brine) Easier Filtration = Better Washing of Tailings Higher Slurry Density = Less Process Water Required Sulfuric Acid Plant Minimizes External Power Note: PFS Base Case HCl H2SO4 NaOH ✓ Greener Alternative
  19. 19. 19 Pilot Plant Configuration CYPRESS DEVELOPMENT CORP Sample Feed Leach Tank Thickener Tailings Thickeners Belt Filter Primary & Secondary Impurity Removal Lionex Lithium Recovery Tertiary Impurity Removal Tank Tank Tank Tank Tailings Bag Tank
  20. 20. 20 Pilot Plant Objectives CYPRESS DEVELOPMENT CORP PLANT AREA OBJECTIVE Overall ✓ Optimize lithium extraction Leaching ✓ Feed size, time and conditions Tailings ✓ Washing, moisture content Solution Treatment ✓ PIR/SIR/TIR performance Lionex Process ✓ Efficiency, optimize costs LiOH Product ✓ Quality of product ClorAlkali ✓ Purity of solution
  21. 21. 21 Initial Progress Results CYPRESS DEVELOPMENT CORP ✓ Leaching performing as expected • Solution grades of 350 to 700 ppm lithium ✓ The DLE process functioning well • Yielding a return solution back to leach of less than 10 ppm lithium ✓ Combined Primary and secondary impurity removal stages to improve efficiency • Delivering low impurity solutions to the DLE process ✓ Solids-liquid separation and washing of the tailings performing very well ✓ Operating improvements are being tested
  22. 22. 22 Extraction Testing of Lithium-Bearing Claystone CYPRESS DEVELOPMENT CORP
  23. 23. 23 Pilot Plant Photos CYPRESS DEVELOPMENT CORP
  24. 24. 24 Environmental & Social Governance CYPRESS DEVELOPMENT CORP ✓ Initial baseline studies completed ✓ Project design considers minimizing environmental impact ✓ Opportunities for renewable energy to be also considered ✓ Focus on effective water and land management ✓ Commitment to working with local communities for a safe and sustainable operation ✓ Additional ESG consultant/advisor being selected
  25. 25. 25 Summary CYPRESS DEVELOPMENT CORP ✓ Advanced stage lithium clay project ✓ Large resource ✓ Water Rights Agreement in place The Project ✓ Strong treasury $ 22.9 M ✓ Additional $ 18.1 M from Bough Deal Financing ✓ Experienced management The Company Pilot Plant Program ✓ Testing underway ✓ Initial results slowly coming in ✓ Advancing to Feasibility Study Permitting ✓ Favourable location ✓ Potential for minimal impacts
  26. 26. 26 Upcoming Catalysts CYPRESS DEVELOPMENT CORP PILOT PLANT Extraction testing of lithium underway Initial Results - Positive Final Results Q1 FEASIBILITY STUDY Commencing in Q1 INFRASTRUCTURE & PERMITTING Ongoing
  27. 27. 27 Appendix CYPRESS DEVELOPMENT CORP
  28. 28. 28 Appendix CYPRESS DEVELOPMENT CORP
  29. 29. Portable electronics Demand growth rates from portable electronics have gradually slowed since the mid-2000s. While growth will continue from these markets the rate will be limited due to the maturity of key application markets. The stability, density and availability of the LCO cathode means this will remain the primary chemistry choice in these markets, although some high-nickel chemistries are being deployed in power tools and powerpack application. Benchmark Minerals forecasts a 4.02% C AG R in this market over the next 10 years. 29% Mobile phones 13% Power tools 5 8 % Other portable 2021 80 % 13 % LC O NCM Other SOURCE: BENCHMARK MINERAL INTELLIGENCE – Q4 2021 Forecast – CYPRESS DEVELOPMENT CORP 29
  30. 30. Stationary storage Growth of lithium-ion battery demand from stationary storage applications is expected to accelerate through to the mid-2020s when growth rates will slow as markets become more mature. The cost and quality improvements in battery chemistry for EV applications will facilitate high penetration levels in a range of residential and commercial markets, despite lithium ion not necessarily being the most efficient technology to use in these areas. Benchmark Minerals forecasts stationary storage demand to grow at a CAGR of 35%, over the next 10 years, overtaking portable electronic demand by 2025. 0 % 10% 20% 30% 40 % 50 % 60 % 70 % 80 % 90 % 10 0 % 110 % 120 % 130 % 40 0,0 0 0 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 MWh Demand Growth rate (%) 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Grow th Stationery 30 SOURCE: BENCHMARK MINERAL INTELLIGENCE – Q4 2021 Forecast – CYPRESS DEVELOPMENT CORP
  31. 31. Electric Vehicle adoption rates will have the biggest impact on lithium ion battery demand over the forecast period. According to Rho Motion, EV sales are expected to reach 16.8m units by 2025, which would equate to a 16.4% penetration rate. Our demand model includes upside/downside cases to this base assumption. Benchmark Minerals’ base case forecasts EV demand to increase by 43% from 2021 to 2022 and a CAG R of 24% over the coming 10 years. Passenger/Light Duty EVs A total of 8 5 m vehicles are expected to be sold in 2021 according to Rho Motion, around 6.3m of which will be electric, rising to over 16m by 2025. Medium & Heavy Duty The use of lithium ion batteries for heavy duty vehicles has been a major growth driver in EV demand and e-bus and e-trucks continue to experience healthy growth rates, with unit sales set to climb 3 0 % from 2021 to 2022 Battery Packs The size of battery packs continues to increase with improvements in pack technology. The average pack size for passenger and light duty vehicles is expected to reach an average of 41 kwh in 2021, rising to 49.4 kwh by 2025. Electric vehicles 31 SOURCE: BENCHMARK MINERAL INTELLIGENCE – Q4 2021 Forecast – CYPRESS DEVELOPMENT CORP
  32. 32. Governments have reaffirmed EV support in post-COVID stimulus efforts 0 200 40 0 60 0 80 0 1,0 0 0 0 .1 B illion US D 2.2 2.5 4.3 8.8 853 220 220 148 110 • The chart below outlines COVID-19 stimulus funds, highlighting specific EV measures as share of the fund. China: State Subsidies extend ed to 20 22. Plan to expand total charging network by 50%. 10 cities also released new subsidy schemes. Spain: Rescue package focusing on renewing the fleet through electric adoption. Tax incentives and aids for research and innovation. France: Subsidy increased by €1,000 for first 200,0 0 0 vehicles. Extension of ADVENIR program providing financing for EV charging infrastructure. Germany: Subsidy increased by €3,000. VAT cut by 16-19%. Tax system to be realigned from 2021 to increase ICE vehicles tax. Total Amount Specific EV funding UK: Industrial Strategy Challenge Fund driving the electric revolution challeng e – support for business research. France U K C hina S pain Germ any SOURCE: BENCHMARK MINERAL INTELLIGENCE – Q4 2021 Forecast – CYPRESS DEVELOPMENT CORP 32
  33. 33. 33 Lithium Deposit Types CYPRESS DEVELOPMENT CORP 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
  34. 34. 34 Sedimentary Hosted Lithium Projects CYPRESS DEVELOPMENT CORP | Project Clayton Valley (TSXV:CYP) Operating Cost ~$3,400 / tonne LCE Development Stage PFS Market Cap (C$) ~300 M Project Thacker Pass (TSX:LAC) Operating Cost ~$2,600 / tonne LCE Development Stage PFS, POO Market Cap (C$) ~4.8 B *Argentina + Nevada Assets *Majority of MC due to Brine Project Rhyolite Ridge (ASX:INR) Operating Cost ~$2500 / tonne LCE Development Stage FS Market Cap (C$) ~1.2 B Project Sonora (AIM:BCN) Operating Cost ~$3,400 / tonne LCE Development Stage FS Market Cap (C$) ~383 MM 4800 1200 380 300 0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 Lithium Americas (TSX:LAC) Ioneer Ltd (ASX:INR) Bacanora Lithium (AIM:BCN) Cypress Development (TSXV:CYP) Market Capitalization (CAD)
  35. 35. 35 Capital Cost Estimate CYPRESS DEVELOPMENT CORP | 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
  36. 36. 36 Operating Cost Estimate CYPRESS DEVELOPMENT CORP 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
  37. 37. Contact Spiros Cacos Vice President, Investor Relations T +1 604 764 1851 info@CypressDevelopmentCorp.com TSXV CYP | OTCQX CYDVF CypressDevelopmentCorp.com

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