PHOENIX, January 5, 2017 /PRNewswire/ --
Lithium Exploration Group Inc. (LEXG) today released an online, on demand presentation detailing the Company's refinement and augmentation of an existing, in-house proprietary technology solution intended to reduce the cost of harvesting lithium while at the same time accelerating the delivery of lithium to a raw lithium constrained battery market. The rollout of LEXG's updated technology solution coincides with Tesla's production launch of its new Gigafactory for producing electric car batteries to meet its own high demand in a market otherwise not capable of meeting Tesla 's car battery requirements.Tesla's Gigafactory illustrates a market wide demand for an increased supply of raw lithium.
Credit Suisse has published research that suggests multiple small lithium brine harvesting operations may present a CAPEX and return on investment (ROI) scenario more attractive to investors than backing a single large scale mining operation.
The presentation published today details LEXG's strategy to create a unique ROI opportunity for its shareholders by offering a cornerstone technology solution especially valuable to the Credit Suisse anticipated proliferation of small-cap lithium brine harvesting companies.
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 testing its SonCav Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is traded on the OTC Markets under the symbol LEXG.
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.