SOURCE: Lithium Exploration Group, Inc.

May 17, 2012 09:00 ET

Lithium Exploration Group Is Pleased to Announce Additions to Executive Team

SCOTTSDALE, AZ--(Marketwire - May 17, 2012) - Lithium Exploration Group (OTCBB: LEXG) (OTCQB: LEXG) announces key additions to the management team: COO Alex Koretsky and CFO Bryan Kleinlein. Koretsky has a degree in Business Administration from the University of Southern California and was previously the Director of Investor Relations and a member of the Board of Directors for TCS Bank (Russia) where he spearheaded a campaign to raise over $200 million in capital for the bank. Koretsky's role will be to advance the strategic planning begun by CEO Alex Walsh and to manage all outside studies being produced to support the company's future plans. Kleinlein has an undergraduate degree in Finance from Illinois State University and an MBA in International Management from Thunderbird School of Global Management. Kleinlein was previously the Director of International Finance and Treasury with FreeLife International where he provided management and guidance on all financial operations and strategic matters for the company. He will coordinate all quarterly and annual financial statements for the company along with developing financial models to support the business plan moving forward.

"The testing of our technology unit in Pennsylvania was the catalyst for hiring these executives to assist in moving the company to the next stage in its growth. Alex Koretsky has been involved with the company as a consultant since February of 2011 and has been part of developing all of the strategies that we have for the future of the company. He is fluent in Russian, having worked in Moscow, Russia at TCS. This has been a huge asset in communicating with and building a relationship with Victor Glotov, the inventor of the ultrasonic generator we are currently testing. There are a lot of exciting developments and now it's 'all hands on deck' to execute on the multi-faceted approach that we are taking with Lithium Exploration Group," commented CEO Alex Walsh.

About Us

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: Lithium Exploration Group is also now 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.

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