May 17, 2018 - 11:06 AM EDT
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Higher Oil Prices Spark Activity and Demand in Canadian Oil Markets

PHOENIX, May 17, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- Lithium Exploration Group (USOTC:LEXG) is already benefiting from oil price increases from turmoil in the Middle East.  The company is seeing a substantial increase in oil and gas activity in Western Canada which has led to several new discussions regarding commercial orders for the SonCav ultrasonic generator to be used as a heat treater to separate the oil, gas, and water. 

“The Canadian oil patch has been hit pretty hard over the past few years but at $70 a barrel for oil there is a lot of wells coming back on line and a lot of new drilling activity in Alberta and the surrounding provinces,” commented CEO Alex Walsh.  “These producers are motivated to get something in place before winter and we are exploring options on how they could make orders now and take delivery in the fall.”

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 sales and distribution of the Sonic Cavitation Ltd. technology and the acquisition of oil and gas related assets in the US and Canada. Lithium Exploration Group is traded on the OTC Markets 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
[email protected]

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Source: GlobeNewswire (May 17, 2018 - 11:06 AM EDT)

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