Alset Energy Samples Up to 6.38% Lithium Oxide at Wisa Lake

THUNDER BAY, ONTARIO--(Marketwired - May 30, 2016) - Alset Energy Corp. (TSX VENTURE:ION) ("Alset" or "the Company") is pleased to announce that the Company continues to recover exciting lithium grades from multiple zones at the Wisa Lake property. Recent selective grab samples have returned analyses ranging from 258ppm to as high as 6.38% lithium oxide ("Li₂O") on the South Zone ("SZ") which has been traced for approximately 100m on surface before disappearing under overburden cover to the west and into a pond to the east. A single channel sample across 2.0m of the SZ pegmatite returned an average grade of 1.23% Li₂O.

Approximately 210m further south of the SZ showing, a new lithium-rich pegmatite dyke has also been discovered where selective grab samples returned assays ranging from 113ppm up to 1.44% Li₂O and additional selective sampling along a 200m strike length of the North Zone ("NZ") returned grades ranging from 283ppm up to 2.19% Li₂O. Intermittent sampling over a 1500m strike length west of the NZ has identified highly anomalous tantalum grading from trace up to 477ppm Ta₂O₅ with very low lithium values. It is unclear at this point whether there is any relationship between the pegmatitic dyke with enriched tantalum and the lithium bearing NZ.

The historical North Zone is host to a non-NI 43-101 compliant historical resource of 330,000 tonnes grading 1.15% Li₂O (Lexindin Gold Mines Ltd., Manager's Report, 1958 (as referenced in Ontario Geological Survey, Open File Report 6285, Report of Activities 2012)). It should be noted that this historical resource estimate for the deposit was calculated prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon.

The Company continues to be encouraged by positive early results of the known lithium showings and the discovery of new lithium bearing pegmatitic dykes. The Company continues to advance towards permitting for stripping/trenching and diamond drilling.

Alset is well funded with approximately $1 million in cash.

Clinton Barr (P.Geo.), V.P. Exploration for Alset Energy Corp, is the qualified person responsible for this release.

On behalf of the Board of Directors of Alset Energy Corp,

Stephen Stares, President

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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