LITHIUM EXPLORATION GROUP ANNOUNCES INITIAL FINANCING OF WHITE TOP DEVELOPMENT PROGRAM
August 21 2017 - 8:33AM
InvestorsHub NewsWire
Phoenix, AZ – August
21, 2017 -- Lithium Exploration Group Inc. (USOTC: LEXG) announced today that its partners
at White Top Oil and Gas have raised $1.4M in capital to be
contributed to their development program in Louisiana. A
portion of the funds is an equipment contribution and the remainder
is cash to pay vendors. The goal is to drill a handful of the
predetermined locations by the White Top geophysical team prior to
the completion of the seismic. This raise and the wells that
come from it are a starting point for a much more substantial
project. Most of the larger development drilling will take
place upon completion of the seismic shoot that is in
process.
“My team and I were in
Louisiana last week overseeing the completion of the seismic
shoot. The seismic team out there is working diligently to
complete their work so that the larger seismic data can be utilized
for the next round of drilling,” commented CEO Alex Walsh.
“These first few wells are merely to get the groundwork laid for
the future, but are important to show that White Top can identify
and drill successful wells on this property.”
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 the
Sonic Cavitation Ltd. technology and the acquisition of oil and gas
related assets in the US and Canada. Lithium Exploration Group is
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