Lithium Exploration Group provides update on the Ultrasonic Cavitation
SCOTTSDALE, Ariz., April 2, 2013
SCOTTSDALE, Ariz., April 2, 2013 /PRNewswire/ --Two weeks ago, Lithium
Exploration Group (OTCQB: LEXG) purchased a pump and had drawings commissioned
to be used to develop the second UCG. This week it will be moved to GD
Glottech International's (GDGI) facility to complete the modifications,
assembly, and testing. After review by GDGI's industry experts the rebuilding
of the shaft on the initial unit is underway and testing is expected to resume
in 4 to 6 weeks.
"Our partners at GDGI have a new state-of-the-art 40,000ft^2 facility that is
ideal for machining, assembly, and testing of the next UCG and all future
orders. This facility has a yield of 60 UCG's per month at full capacity.
GDGI reports the next Unit will be ready for field testing in early July,"
commented CEO Alex Walsh. "We have experienced delays with the testing of the
first unit in Pennsylvania but the testing performed in November and December
of 2012 has produced important feedback on correcting the problems and
improving the design of the second unit."
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
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
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