TSX.V: CYP | OTCQB: CYDVF Cypress Development Corp. is pleased to report that it has entered into a Water Rights Purchase and Sale Agreement with Intor Resources Corporation a wholly owned U.S. subsidiary of Nevada Sunrise Gold Corporation , for the purchase of Intor’s Water Rights Permit in Clayton Valley, Nevada . The Permit allows for 1,770 acre-feet of water per year for mining, milling, and domestic use. …
TSX.V: CYP | OTCQB: CYDVF
Cypress Development Corp. (TSXV: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to report that it has entered into a Water Rights Purchase and Sale Agreement (the “Agreement”) with Intor Resources Corporation (“Intor”), a wholly owned U.S. subsidiary of Nevada Sunrise Gold Corporation (“Nevada Sunrise”), for the purchase of Intor’s Water Rights Permit in Clayton Valley, Nevada (the “Permit”). The Permit allows for 1,770 acre-feet of water per year for mining, milling, and domestic use.
“With the completion of the Agreement, Cypress is a big step closer to securing water rights for our Clayton Valley Lithium Project”, stated Bill Willoughby , President & CEO of Cypress. “Cypress and Nevada Sunrise are now moving forward to complete the parties’ obligations under the Agreement. For Cypress’ lithium project, this is a meaningful development because water is a vital resource to the project. This purchase has the potential to secure the Project’s future water requirements.”
Terms of the Agreement
The...
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