SCOTTSDALE, Ariz., Feb. 12, 2013 /PRNewswire/ -- Lithium Exploration Group (OTCBB: LEXG) (OTCQB: LEXG) announced today that they are in discussion with an Energy consulting group in Canada to assist in the development of the oil asset roll-up strategy previously announced. It is expected that the team will assist in identifying immediate acquisition targets from their vast client base, as well as bring the required capital to fund said acquisitions.
In early February, the Company announced that it is in development of a new technology to refine Canadian crude oil and as a consequence of this announcement the new interest that was created recently brought forth an LOI between the consultants and LEXG.
"We were thrilled with the response to our announcement that we have entered the Oil & Gas R&D sector with the development of the crude refining technology and especially pleased with the quick and efficient response by the Consultants. The agreement we are working on will be performance based allowing us to preserve our capital while we bring in new partners," CEO Alex Walsh said. "We anticipate that this new association will bring us closer to achieving the pinnacle for all juniors, revenue."
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.
Shanon Chilson (480)-641-4790 or:
Tom Nelson (480)-326-8577 / email: firstname.lastname@example.org
SOURCE Lithium Exploration Group