PHOENIX, AZ, United States, via ETELIGIS INC., 03/12/2015 – – Lithium Exploration Group Inc. (OTC Pink: LEXGD) (PINKSHEETS: LEXGD) (OTC Pink: LEXG) (PINKSHEETS: LEXG), received word yesterday that the Ultrasonic Generator successfully underwent a two-hour pressure test at the facility in Spring, TX, where it is being inspected for damage. The test was run to evaluate the overall condition of the unit after last month’s accident outside of Corsicana, TX. The next step is to completely disassemble the unit, which is expected to be completed by the end of the week.
“This is a huge weight off of our shoulders because it means that the integrity of the unit is still intact. Our remaining concerns at this stage in the disassembly process are the condition of the shaft, bearings, and seals on the interior of the unit,” commented CEO Alex Walsh. “The good thing is that any of the parts that could have damage to them at this stage are replaceable, and we are confident that we will not have to replace the entire unit which would have caused many months of delay.”
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: http://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.