PHOENIX, AZ, United States, via ETELIGIS INC., 12/02/2014 – – Lithium Exploration Group, Inc. (OTC PINK: LEXG) (PINKSHEETS: LEXG), today gave an update to shareholders on progress with the SonCav technology units. The water unit is on track for full field unit completion later this month. It will initially be tested in-house, and then will go to the field for demonstration testing to prospective customers in Texas.
A team from LEXG visited the machine shop in Houston last week to get a progress update on assembly of the oil unit. Final modifications are being made and it is expected that the unit will be ready to be shipped for testing in early January 2015. The team at Tero is already making preparations to receive the unit, so that testing of oil can begin immediately. Testing and data collection will take place on-site, working closely with the SonCav team and their manufacturing partner to analyze the performance of the unit at various intervals and temperatures.
“We are extremely excited to be where we are today. The successful testing of the water unit earlier this year was a huge step for the development of this technology, but now we are ready to send both units to the field and see them in action. It is beneficial that SonCav will be gathering performance data on both the water unit and the oil unit at the same time,” commented CEO Alex Walsh. “It has been a long road for us and for our partners at SonCav, but we have all known that this day was coming and we have never wavered from our confidence in this technology, which will certainly be disruptive and dynamic across many applications. It is a testament to the devotion of inventor Dr. Glotov and his partners that we have come this far and are collectively ready to take a huge step forward in 2015.”
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 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.
SOURCE: Lithium Exploration Group, Inc.