Lithium Exploration Group CEO Distributes November 2016 Letter to Shareholders

PHOENIX, AZ / ACCESSWIRE / November 16, 2016 / Lithium Exploration Group Inc. (OTCPINK: LEXG) CEO Alex Walsh updates shareholders on company activities.

Dear Shareholders,

We have spent the past few weeks preparing for the next round of testing on the SonCav oil unit. Just after the Thanksgiving holiday, we plan to have an independent firm join us to witness our testing and take its own samples to verify the work we are doing. We are going to make some slight modifications to the system to allow for more accurate data collection, but in general we have everything ready to go.

The intent here is to have someone not affiliated with LEXG or SonCav witness and gather tests so that, as we take the next steps in development, there is no question about the validity or accuracy of the results we are reporting. The information gathered will include sample tests of the initial feedstock, sample tests of the treated feedstock, measurement of time and volumes to gather flow rate data, and measurement of power consumption. These are all important inputs for the broader business case and will help us as we continue our testing and start to initiate discussions with potential customers.

Over the past few months, we have also identified, in discussion with field owners and other industry folks, a handful of other uses for the SonCav oil unit. In colder climates, paraffin build up in produced oil can become a huge issue and it is resolved by heating tanks, which require an inefficient use of natural gas and fuel oil. Our system should be able to efficiently circulate the oil and add the heat by running it through the electronically-powered SonCav generator. We are going to use the data we have collected to add that to our business case as we go to market.

Needless to say, we have been very encouraged by our testing to date, and look forward to this next step in the process and further development efforts.

Unfortunately, the drilling of our well in Pennsylvania has been delayed due to it being part of a larger drilling program that has not yet commenced. I hope to have resolution on this ASAP because our goal is to be able to drill many more of these wells next year, so that we can look at potentially deploying SonCav oil units at the site to improve the profitability of the produced oil.

Sincerely,

Alex Walsh
CEO
Lithium Exploration Group

About Lithium Exploration Group

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 testing its SonCav Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is traded on the OTCPINK under the symbol LEXG. Website: www.lithiumexplorationgroup.com.

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 testing of the ultrasonic technology.

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.

Contact Info

Shanon Chilson
480-641-4790
info@lithiumexplorationgroup.com

SOURCE: Lithium Exploration Group

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