Alset Energy Corp.
TSX VENTURE : ION

Alset Energy Corp.

March 23, 2017 10:07 ET

Alset Receives Drilling Permits for La Salada Lithium Project in Zacatecas, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 23, 2017) - Alset Energy Corp. (TSX VENTURE:ION) ("Alset" or "the Company") is pleased to announce that having completed an environmental report and an application for drilling, the Company has received the necessary permits to commence drilling at its La Salada lithium project near Zacatecas, Mexico. The Company is now in the process of securing drill crews and site personnel and is expecting to commence drilling in early April.

In addition to the drilling, the Company will commence a shallow subsurface sampling program. These efforts are designed to better understand the geochemistry and deportment of lithium in subsurface soils and the depth and chemistry of potential brine of the La Salada salar.

Allan Barry Laboucan, President and CEO of Alset Energy said: "This work will form the first part of our exploration program on the lithium salars near Zacatecas, Mexico. The La Salada salar has seen significant historical work and our own chemical analysis and leaching tests are guiding our drilling and sampling program. We are very excited about the ability to now generate our own samples to better understand the lithium potential of the salar and to determine its depth extent. This drilling and sampling program will give us new material for leaching tests and to help direct our future development of this lithium and potassium bearing salar."

Drilling and Sampling Program

Initially, two holes will be drilled to evaluate depth to bedrock and brine potential in the La Salada salar. Material collected during drilling will be sampled and sent in for geochemical analysis to better understand the vertical distribution of lithium and geochemical nature of the salar at depth.

Additionally, Alset will carry out a subsurface sampling program on a 100-meter grid across the entire salar. The primary focus of this work is to enhance the Company's understanding of the near surface chemical composition of the salar infill material and most importantly, its lithium content. Furthermore, Alset intends to resample some locations of the historical grid sampling carried out on the salar as a means to validate historical results.

Alset is also planning to use material collected from the drilling and sampling programs for scoping metallurgical testing to add confidence to previous leaching tests done with La Salada salar materials (see Company news release dated: 2017-03-03).

The technical information contained in this news release has been reviewed and approved by Emily Hanson, PGeo, who is a qualified person as defined under National Instrument 43-101.

About Alset Energy (ION.V)

Alset Energy is a TSX-V listed junior exploration company focused on exploring and acquiring mineral properties containing the metals needed by today's high-tech industries. The Company is actively exploring in Mexico and Canada.

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

Allan Barry Laboucan, President and CEO

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

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections

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