Century Lithium Corp. — Capital/Financing Update 2021

Nov 24, 2021

Form 51-102F3 Material Change Report

1. Name and Address of Company

Cypress Development Corp.

Suite 1610 - 777 Dunsmuir Street Vancouver, BC, Canada, V7Y 1K4 (the “Company”)

2. Dates of Material Change(s)

November 22[nd] , 2021

3. News Release(s)

A news release was issued on November 23[rd] , 2021 and disseminated by Globe Newswire pursuant to section 7.1 of National Instrument 51–102.

4. Summaries of Material Changes

CYPRESS DEVELOPMENT GRANTS INCENTIVE STOCK OPTIONS

5. Full Description of Material Changes

News Release dated November 23[rd] , 2021– See Schedule “A”.

6. Reliance on subsection 7.1(2) or (3) of National Instrument 51-102

Not applicable.

7. Omitted Information

No information has been omitted.

8. Executive Officer

Mr. William Willoughby, President & CEO of the Company, is knowledgeable about the material change contained herein and may be reached at (604) 6873376.

9. Date of Report

This report is dated November 24[th] , 2021

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SCHEDULE “A”

to the Material Change Report dated November 24[th] , 2021

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NEWS RELEASE TSXV: CYP | OTCQB: CYDVF

CYPRESS DEVELOPMENT GRANTS INCENTIVE STOCK OPTIONS

November 23, 2021 - Vancouver, Canada - Cypress Development Corp. ( TSXV: CYP ) ( OTCQB: CYDVF ) ( Frankfurt: C1Z1 ) (“Cypress” or “the Company”) announces that the Company has granted an aggregate 1,945,000 incentive stock options (the "Options") to officers, directors, consultants and employees of the Company. The Options vest over variable periods up to three years and are exercisable at $2.26 per share, being the five-day volume-weighted average price. The Options are valid for variable periods up to five years from the date of grant. The Options have been granted under and are governed by the terms of the Company's long term incentive plan and are subject to the policies of the TSX Venture Exchange.

About Cypress Development Corp

Cypress Development Corp. is a Canadian 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. The results of a positive Pre-Feasibility Study for the Clayton Valley Lithium Project were announced by Cypress Development in August 2020. Cypress Development trades on the TSX Venture Exchange under the symbol CYP, and on the OTCQB under the symbol CYDVF.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.

WILLIAM WILLOUGHBY, PhD., PE President & Chief Executive Officer

For further information, please contact:

Spiros Cacos | Vice President, Investor Relations Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email scacos@cypressdevelopmentcorp.com www.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.

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