Aug 24 (Reuters) - Cypress Development Corp:
* Cypress options 1,520-acre lithium property in Clayton Valley, Nevada to Pure Energy Minerals
* Parties shall enter into a joint venture agreement for further exploration of property, and Pure Energy shall serve as operator
* New option agreement grants Pure Energy Minerals right to acquire up to 70% undivided interest in 1,520-acre package Source text for Eikon: Further company coverage: CYP.V