SOURCE: Lithium Exploration Group, Inc.

August 12, 2013 09:00 ET

Lithium Exploration Group Seeks to Fill Void in Canadian Refinery Market

SCOTTSDALE, AZ--(Marketwired - Aug 12, 2013) - Lithium Exploration Group Inc. (OTCQB: LEXG) today updated shareholders on the deployment strategy for GD Glottech International's ultrasonic technology. Since establishing North American operations in Houston, TX, GD Glottech International has received direct expressions of interest from four of the ten largest global oil and gas companies. The company has also engaged in high-level discussions with one of the world's largest players in desalination.

Private demonstrations of the technology are planned for September, at which time the first wave of field units will be deployed for testing in the prospective customers' fields to ensure operations are performed to industry standards. GD Glottech International's financial projections are based on leasing 400 units in 2014, and it is expected that the second customer (the first being Lithium Exploration Group Inc.) will come from this group of five interested prospects mentioned above. Conservative estimates for the first order placed could amount to more than 1,000 units.

The initial test unit of the technology is for water purification, but the technology also has the capability to refine hydrocarbons by utilizing the ultrasonic reaction to crack the hydrocarbon chain, thus taking crude oil and developing it into products such as diesel, benzene, or jet fuel, depending on the desired output. When performing oil upgrading, one unit should have the capacity to treat over 550 barrels of crude oil daily. This type of oil refining technology could mean millions of dollars per year in savings for small oil and gas operators who depend on larger operators to get their crude oil to market.

"We have established a sales team in Calgary to execute on our Canadian distribution rights as soon as we are given the green light by our partners at GD Glottech International. The team is already in discussions with some local operators about taking units for both water and oil upgrading," commented CEO Alex Walsh. "Initial efforts by our partners in Houston and our team in Calgary indicate that this technology is going to be a huge success and will benefit the users, our partners at GD Glottech International, and our shareholders."

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 on its Western Canada lithium assets, testing its Ultrasonic Generator Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is a fully reporting company traded on the OTCQB 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, 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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