Lithium Exploration Group Prepares For 21 Percent Anticipated
Growth In Lithium Battery Market Next Year In Sector Named By
Goldman Sachs As The New Gasoline
Lithium Exploration Group Disruptive Ultrasonic Cavitation
Technology
Changes Lithium Production
Phoenix, AZ -- December 28, 2016 -- InvestorsHub NewsWire --
Lithium Exploration Group Inc. (OTCPINK:
LEXG) announced that it has established itself as an early
adopter of a disruptive technology within the burgeoning lithium
industry. Lithium Exploration Group has partnered with Sonic
Cavitation Ltd to test and commercialize a proven lithium
extraction technology that is anticipated to make the Lithium
Exploration Group a recognized brand name in the rapidly evolving
and expanding lithium industry. Goldman Sachs has labeled the
lithium battery as the new gasoline with lithium battery sales
expected to grow by 21% next year as a result of the growing demand
from both the electric car market and the consumer electronics
market.
CEO Alex Walsh updates shareholders on company activities:
As we transition into 2017, it is important to update the market
on our strategic planning for 2017. This month we completed the
independent validation testing of the Sonic Cavitation Ltd oil
unit. We have been testing the unit ourselves since August, but
recently brought in two independent groups to take samples and
witness the power consumption, temperature increase, and other
operational variables of the unit. Along with our partners at Sonic
Cavitation Ltd, we are now ready to start showing those performance
results to potential customers and start to customize a solution
for their specific needs.
This execution will be part of our ongoing activity, but it is
also important to note that we are still very focused on utilizing
the technology for lithium extraction. In the very near future our
partners at Sonic Cavitation Ltd will begin to initiate the testing
of brine and other salt water feedstock and begin collecting
performance data on the flash evaporation of suspended solids.
Obviously this application can be used for water purification and
other industrial purposes, but we will be very focused on how it
can be used in the mining industry specific to the expedited
extraction of lithium from brine.
We have had a lot of inbound calls and emails from our
shareholders and companies in the mining industry about when we
will be able to bring this to their market and our answer is soon.
Certainly they will need to be patient as we conduct testing of
various brines, but we know that we will be able to bring them a
solution very soon in the same way that we are bringing the oil
unit solution to the energy industry.
The lithium industry is positioned to boom over the next three
decades as hybrid vehicles continue to gain market share and as
companies like Tesla turn their attention to the much-needed bulk
energy storage application for massive rechargeable lithium
batteries. Presently the most economical way to extract lithium is
from shallow brine in arid climates where the producers use solar
evaporation to turn the brine into a moist cake. That process takes
almost 18 months to get lithium carbonate to market. Our hope is to
be able to show producers that, with this technology, they can
produce that same moist cake byproduct in other geographies and in
other climates. This dewatering step is critical for the entire
industry and we plan to explore joint ventures with companies that
are close to producing lithium and will look to sell units to other
operators, just as we are poised to do in the oil and gas
industry.
We have the exclusive distribution rights to this technology for
the mining industry in Canada and plan to exploit that as much as
possible.
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 testing its SonCav Technology and the
acquisition of oil and gas related assets in Western Canada.
Lithium Exploration Group is traded on the OTCPINK 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