July 31, 2013 - Scottsdale, AZ / Lithium Exploration Group Inc. (OTCQB: LEXG.OB) yesterday closed the initial tranche of capital to fund the disposal well owned by Blue Tap Resources of Calgary, AB. The initial tranche of $150,000 will be used to bring the disposal well to operational status.  The goal is to get the facility operational in short order and, once the regulators have approved the facility, to return to operations. The second tranche of $150,000 will be funded once the regulators have approved the facility to return to operations.  The second tranche will be used to increase capacity at the facility and return it to Class 1a status.   

Due diligence has been completed by LEXG’s local counsel, which led to the closing of this initial tranche.  Teams from Blue Tap and LEXG have met weekly since late June to set in place plans for the operations, marketing, and support of this facility. Both parties are excited to get to work with the goal of restarting the facility in August. 

“We began our due diligence in May, executed our agreement to acquire the company in June, and, as planned, have closed on the due diligence and initial funding in July.  We are all very excited about what we have accomplished so far and what the future holds.  We will continue to build infrastructure in Calgary to support Blue Tap and are currently forming a team which will seamlessly support additional acquisitions that we hope to make in the near future,” commented CEO Alex Walsh.

About Lithium Exploration Group

Lithium Exploration Group is a US-based exploration and development company focused on the acquisition and development potential of lithium brines and other precious metals that demonstrate high probability for near-term production. Currently the company is focused on its Western Canada lithium assets, testing its Ultrasonic Generator Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is a fully reporting company traded on the OTCQB under the symbol LEXG. Website: www.lithiumexplorationgroup.com.
 
Safe Harbor Statement

This news release contains "forward-looking statements". Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to the completion, testing, transportation, and final installation of the unit.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of lithium prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.

Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
 
Contact Info
Shanon Chilson
480-641-4790
info@lithiumexplorationgroup.com