SCOTTSDALE, Ariz., May 14, 2013 /PRNewswire/ -- Lithium Exploration Group, Inc. (OTCQB: LEXG) today updated shareholders on progress on the ultrasonic generator. Forensic engineering on the shaft has been completed at the facilities of Rhoades Inc. in Philadelphia. Key components will be rebalanced, the generator will be re-assembled and testing is expected to resume shortly thereafter. The technology's inventor, Dr. Victor Glotov, is returning to the United States to personally oversee testing alongside his senior US-based engineers.
"In addition to the forward progress in resumption of technology testing, we are excited to pass on Glottech's report of the technology having been extremely well-received at the Offshore Technology Conference, last week in Houston, Texas," added CEO Alex Walsh.
The Offshore Technology Conference brings together energy professionals to create a comprehensive, peer-selected technical program. OTC also showcases an exhibition of the latest products and services. OTC offers a diverse portfolio of events that are tailored to the offshore energy industry's unique regional and technical needs.
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, Inc.