SCOTTSDALE, AZ –February 27, 2014- Lithium Exploration Group Inc. (OTCQB: LEXG) today announces that Alta Disposal's Morinville disposal facility has obtained documentation for expanded approvals. The expanded approvals allow for the disposal of specified Class 1a waste streams. This designation allows for the acceptance of almost all fluids generated from oil and gas operations as well as a limited list of non-oilfield waste streams. Many of these fluids command a higher fee structure which will allow the opportunity to generate more revenue from the same volumes. Alta Disposal will continue to expand the facility's infrastructure to receive approval to handle the full range of Class 1a liquid wastes.
"This approval expands the list of streams that we released last week to encompass just about every aspect of fluid disposal to the oil and gas industry. We have spent the past 6 months meeting with local and regional producers and trucking companies in preparation for this approval and are ready to aggressively capture market share," commented CEO Alex Walsh.
About Alta Disposal
Alta Disposal is a wholly owned subsidiary of Lithium Exploration Group. Its corporate offices are in Calgary, Alberta and it holds the company's interest in oilfield disposal facilities in Western Canada. More information about Alta Disposal can be found at www.altadisposal.com.
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 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.
SOURCE: Lithium Exploration Group, Inc.