Lithium Exploration Group Updates Progress on Ultrasonic Generator
SCOTTSDALE, Ariz., Nov. 15, 2012 /PRNewswire/ -- Last week a team from Lithium Exploration Group (OTCBB: LEXG) (OTCQB: LEXG) traveled to Pennsylvania to inspect the ultrasonic generator. The unit is undamaged from the hurricane that battered the New York and New Jersey coastline a few weeks ago. The team oversaw the installation of the new variable frequency drive and prepared the unit for the resumption of testing. A power generator will arrive for installation on Monday, November 19, and testing on the unit will resume on November 27 upon the arrival of the inventor and his team from Russia.
"We have a wonderful relationship with GD Glottech International, and in particular, the inventor, Victor Glotov. It is exciting to be back to work and we look forward to updating shareholders on our progress in the coming weeks," commented CEO Alex Walsh.
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 property. Lithium Exploration Group is a fully reporting company traded on the OTCBB under the symbol LEXG. Website: www.lithiumexplorationgroup.com. Lithium Exploration Group is also on Facebook, LinkedIn and Twitter @LEXG_OTCBB.
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, including but not limited to the completion, testing, transportation, and final installation of the unit.
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