SCOTTSDALE, AZ -- Today Lithium Exploration Group Inc. (OTCQB: LEXG) released an update from GD Glottech International ("GDGI") on operational activity and future plans for the technology:
- Over the last six months GDGI has established relationships with strategic partners in the Americas, Europe, and the Middle East, including Argentina, Bolivia, Brazil, Germany, Saudi Arabia, the United Arab Emirates, the United States of America and Venezuela. Within these countries, targeted industries include desalination, mineral extraction/tailings (copper, lithium, and gold), natural gas hydraulic fracturing, and oil (thinning and refining).
- To affect a coordinated global launch, much has been accomplished in creating the ideal Project Team to bring the technology to market. First, one of the world's premier pump engineers was brought out of retirement to lead our engineering division. Next, a Fortune 100 senior global director was enticed to head operations, which have already included high-level discussions with three governments to achieve the most lucrative package possible in selecting our location for manufacturing and assembly. An internationally known pump manufacturer is also already on board, ramping up for what is expected to be a need for 300 pumps per month at full production. And a recognized legal team is being assembled to strengthen and secure the patents.
"We have been impressed with the team that our partners at GDGI have assembled to move the project forward expeditiously. It is important that we keep our shareholders updated on their progress in developing this technology," commented CEO Alex Walsh. "We will be distributors of the technology within Canada and it will also be a critical part of our lithium extraction and disposal business segments, enhancing production capabilities for each."
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.
SOURCE: Lithium Exploration Group, Inc.