Alset Clarifies Previous News Release and Provides Update on Sampling Program in Mexico

THUNDER BAY, ONTARIO, Oct 04, 2016 (Marketwired via COMTEX) — THUNDER BAY, ONTARIO–(Marketwired – Oct 4, 2016) – Alset Energy Corp. (ION) (“Alset” or “the Company”) would like to provide further clarification and detail related to its press release dated October 3, 2016.

In May 2016 (see PR dated May 10, 2016), the Company executed a letter of intent to acquire up to 10 mineral concessions covering 16 known Lithium, Potassium and Boron-rich salars located in the States of Zacatecas and San Luis Potosi, Mexico. Upon review of the technical data including a property examination by the Company and its advisors, the Company elected to acquire 4 large concessions containing the 7 top priority salars (see PR dated July 13, 2016) which include Caliguey, La Doncella, Colorada, La Salada, Santa Clara, Saldivar and Chapala and several smaller earlier-stage salars. The Company selected these salars due to their attractive lithium, potassium and boron values from limited shallow sampling of the unconsolidated material down to a depth of five metres. Of particular interest is the La Salada salar where preliminary and unaudited analyses of samples from the southern half of the salar returned grades frequently exceeding 1500 mg/l with occasional values over 2000 mg/l lithium, 8% potassium and 60 mg/l boron. The depth and grade beneath 5m is unknown at this time but preliminary geophysical surveys indicate a possible depth of 70 metres.

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