SCOTTSDALE, Ariz., March 5, 2013 /PRNewswire/ -- Alex Walsh, CEO of Lithium Exploration Group (OTCQB: LEXG), gives shareholders an update on the progress of the ultrasonic generator project which had previously experienced a few setbacks due to necessary repair work on the shaft.
"As we have reported to our shareholders in recent months, our Pennsylvania technology unit experienced some delays in getting to testing phase of development. We have been working diligently over the past few weeks to find a company that can conduct the custom repair work. I am happy to report that we do have 2 bids being returned today to perform the required services. Upon final decision by the inventor on which bid to accept we will be sending the shaft out immediately for 'reengineering' and will be back to testing as soon as possible," commented Mr. Walsh. "We have spent the past few weeks talking about the funding and development of the new oil upgrading prototype but the water treatment unit in PA is still moving ahead and should not be forgotten."
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.
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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.
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SOURCE Lithium Exploration Group