http://www.stockwatch.com/Quote/Detail.aspx?symbol=ION&region=C

2016-05-30 09:09 ET - News Release

Mr. Stephen Stares reports

ALSET ENERGY SAMPLES UP TO 6.38% LITHIUM OXIDE AT WISA LAKE

Alset Energy Corp. continues to recover exciting lithium grades from multiple zones at the Wisa Lake property. Recent selective grab samples have returned analyses ranging from 258 parts per million (ppm) to as high as 6.38 per cent lithium oxide (Li2O) on the south zone (SZ) which has been traced for approximately 100 metres on surface before disappearing under overburden cover to the west and into a pond to the east. A single channel sample across two m of the SZ pegmatite returned an average grade of 1.23 per cent Li2O.

Approximately 210 m farther south of the SZ showing, a new lithium-rich pegmatite dike has also been discovered where selective grab samples returned assays ranging from 113 ppm up to 1.44 per cent Li2O and additional selective sampling along a 200 m strike length of the north zone (NZ) returned grades ranging from 283 ppm up to 2.19 per cent Li2O. Intermittent sampling over a 1,500 m strike length west of the NZ has identified highly anomalous tantalum grading from trace up to 477 ppm tantanlum pentoxide (Ta2O5) with very low lithium values. It is unclear at this point whether there is any relationship between the pegmatitic dike with enriched tantalum and the lithium-bearing NZ.

The historical north zone is host to a non-National Instrument 43-101-compliant historical resource of 330,000 tonnes grading 1.15 per cent 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 Canadian Institute of Mining, Metallurgy and Petroleum 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 dikes. The company continues to advance toward permitting for stripping/trenching and diamond drilling.

Alset is well financed with approximately $1-million in cash.

Clinton Barr, PGeo, vice-president, exploration, for Alset Energy, is the qualified person responsible for this release.

We seek Safe Harbor.