November 8, 2017 - 9:07 AM EST
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Lithium Exploration Group Poised to Take Advantage of Saudi Arabian Turmoil and the Impact on Global Oil Markets

PHOENIX, Nov. 08, 2017 (GLOBE NEWSWIRE) -- The CEO of Lithium Exploration Group Inc. (USOTC:LEXG) believes that the recent unrest in Saudi Arabia, the leading OPEC producer, will finally unlock the price increase that the oil market has been waiting on for the past two years.  LEXG has invested in an oil and gas project in Louisiana and is hoping to reap the benefits of the significant increase in oil prices that have occurred over the past few days. 

“We believe that the substantial decline in oil and gas pricing in 2015 went way too far and we believe that the stagnation of pricing in the $50 range for the past 18 months is undervaluing the commodity,” commented CEO Alex Walsh.  “This is an asset class that a mere ten years ago was in the $150 range and lots of very smart analysts thought it would be headed for $200 at the time.  I think that the recent “shock to the system” will get oil prices to $70 very soon and I think they will hold between $60 and $70 for some time.  I don’t see $100 oil in the near future, but the investment we have made in the industry is very profitable at $50 oil so, if the market can hold above $60, this is going to be a huge home run for us.”

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 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.


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
[email protected]

Source: GlobeNewswire (November 8, 2017 - 9:07 AM EST)

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