Lithium Exploration Group Inc. (fka LEXG)

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Lithium Exploration Group Explores Expanded Oil and Gas Opportunity

November 29, 2016 - InvestorsHub Newswire - Phoenix, AZ - Lithium Exploration Group Inc. (OTCPINK: LEXG) announced today that it is exploring an expanded role in the McKean County oil and gas project. The company has already funded one well, which is to be drilled, but there are two other wells, which were required to be funded by another group, before drilling can begin. Due to the other groups inability to fund the final two wells, Lithium Exploration Group has the opportunity to take control of the additional wells.

We are in an interesting position: the inability of one group to fund their wells has unexpectedly caused a gift to fall in our lap. This is an amazing opportunity caused by the distress in the oil markets, commented CEO Alex Walsh. Two years ago, and two years from now, this type of investment would have been significantly more expensive. I have been in discussion with a few different funding sources that have interest, pending an independent engineering analysis of the project. I hope to have that process complete by the end of this week. This is a significant opportunity for LEXG.