Lithium Exploration Group (OTCQB: LEXG) announced today that an order has been placed with Sonic Cavitation for a Crude Oil Prototype. The unit will be manufactured by the same partners and with the same design specifications as the Ultrasonic Generator currently being tested for water purification in Texas. It will be delivered to Wardlow, Alberta, and used for testing purposes at Tero Oilfield Services (a subsidiary of Alta Disposal Ltd). The goal is to test the upgrading capabilities of the unit on crude oil and to identify commercial opportunities for future units. The expected delivery date at Tero of the unit is in August, 2014.
"Our partners at Sonic Cavitation have made huge progress with their manufacturing partners in Texas and are moving forward on testing the existing unit for field capabilities in the water purification space. The goal of this prototype will be to initiate parallel testing for crude oil so that both markets can be commercialized as soon as possible," commented CEO Alex Walsh. "We were able to observe the technology in action in February and are eager to see the unit running oil through it at our Tero facility this summer."
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.