Phoenix, AZ - October 28, 2014 - InvestorsHub NewsWire - Lithium
Exploration Group, Inc. (OTCQB:
LEXG) announced today that it is in discussions with a
Texas-based company with a proprietary chemical additive that will
assist in the oil treatment process. The chemical company has
developed a proprietary blend of additives to treat paraffin and
lighten the specific gravity of the oil. Lithium Exploration
Group will ship samples of the oil treated at its Tero facility to
Texas. A team will be heading there in a few weeks to assess the
results of the tests and discuss this potential partnership.
“We are expanding the Tero facility to offer custom treating to
local customers. There is demand for the service in the area,
but we also plan to expand the facility so that we can get field
testing data from the Ultrasonic Technology that we have already
ordered to be operated at Tero. If this additive does what we
think it can do, it could help speed up the oil treatment process,
making it both more efficient and more profitable,” commented CEO
Alex Walsh. “Our thesis on the oil treatment business is
that, if we can use proprietary techniques to improve the process
and make it more profitable, then we can replicate that process and
become a major competitor in the space. I will be in Texas in
mid-November to oversee the progress on the SonCav oil unit, and
will be meeting with the additive company to see the results of the
testing they complete on the oil we are sending there now. I
will send an update one way or another on the results, but will not
be disclosing the name of the company until after we have
formalized our relationship.”
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 OTC Markets 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
testing of the ultrasonic technology.
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