Lithium Exploration Group Inc. (OTCQB: LEXG) has initiated the application process (under Directive 58 of the Alberta regulations) to bring its Morinville facility to full 1b oilfield waste and 1a industrial waste classifications. Lithium Exploration Group acquired a controlling interest in the facility in October of 2013. It was returned to active status in December of 2013. The disposal well is grandfathered for disposal of both 1b and 1a waste streams, but the surface facility needs to be expanded with ground sensors, a runoff pond, additional tankage, and laboratory facilities in order to accept a full suite of waste streams from the local market. The company has been in communication with the regulators and is engaging engineering firms and consultants to assist with the facility planning so that it will meet all of the regulatory standards to move the project forward. Presently the facility is disposing of produced water in the area north of Edmonton, Alberta.
"We believe this facility has the opportunity to be the preeminent Class 1a facility for Edmonton and the surrounding area. A massive amount of industrial waste is coming out of the region, a byproduct of the oil sands projects in Alberta, and this waste cannot be disposed of at traditional Class 1b licensed facilities. The well that we have is in great shape and we plan to develop this as a long term asset so that we can assist in the disposal of waste streams for decades," commented CEO Alex Walsh. "We have a solid customer base now and have been in communication with the groups in the area that are in need of a reliable facility to dispose of their Class 1a fluids."
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.
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SOURCE: Lithium Exploration Group, Inc.