Gryphon Resources Inc. (OTC Bulletin Board: GRYO) today announced it has acquired exploration rights to 11 mineral properties in south-eastern Arizona, USA commencing stage one of Gryphon's new lithium exploration program.
President and CEO Alan Muller said: "Following our Board and management changes mid-year, Gryphon undertook a strategic review of how best to deploy resources to yield the greatest returns for our shareholders. This strategic review indicated that lithium exploration projects currently have excellent potential based on the recent dramatic increase in worldwide demand for lithium due auto industry product innovations and other related technologies." Mr. Muller continued: "The acquisition of exploration rights to these eleven Arizona properties fits well into this strategic plan and we expect to move forward quickly with implementation of a composite exploration operational plan."
Source: Gryphon Resources Inc.