PHOENIX, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- Lithium Exploration Group (USOTC:LEXGD) announced today that it has engaged Bitcoin and Blockchain pioneer Ben Kraus to evaluate entry into the Bitcoin mining space. The company is evaluating establishing mining operations in Arizona and will utilize Mr. Kraus and his industry knowledge to ensure that it is making appropriate strategic and operational decisions as it enters the market.
"Lithium Exploration Group has always been looking to pioneer innovative concepts and technologies. Bitcoin and cryptocurrency will become another one of our ventures to complement the oil and gas investments we have made, and the distribution of the SonCav technology," commented CEO Alex Walsh. "Based on our research, Phoenix, Arizona could be the new Silicon Valley of cryptocurrency mining. We feel that we are in a position to take advantage of our geographic location and market conditions to provide enhanced shareholder value by entering the market. We also feel that we are in great hands with Mr. Kraus and his industry expertise guiding the way."
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.