Alset Insiders in First Tranche of Private Placement

684 Squier Street, Thunder Bay ON P7B 4A8 Tel: 807-475-7474 Fax: 807-475-7200 www.alsetenergy.ca TSX-V: ION

ALSET INSIDERS IN FIRST TRANCHE OF PRIVATE PLACEMENT

October 14, 2016

Thunder Bay, Ontario: Alset Energy Corp. (TSXV: ION) (“Alset” or “the Company”) announces that it has received TSX-Venture Exchange approval for the first tranche of its previously announced re-priced private placement (the “Financing”) (See PRs dated October 6, 2016 and October 13, 2016). Gross proceeds from the tranche totaled $207,940 consisting of 256,667 flow-through units (“Flow-Through Units”) for $30,800 and 1,771,400 non flow-through units (“Non Flow-Through Units”) for $177,140.

The Company is relying on the exemption under MI 61-101 5.7 (1)(a) for the participation of the following insiders in the Financing:

Stephen Stares – 47,500 FT Units Clint Barr – 79,167 FT Units Benton Resources Inc. – 1,000,000 Non Flow-Through Units

About Alset Energy

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.,

"Stephen Stares"

Stephen Stares, President

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

For further information contact Stephen Stares @:

684 Squier Street, Thunder Bay, ON P7B 4A8 Phone (807)475-7474 Fax (807)475-7200 www.alsetenergy.ca

Investor Relations:

Daniel Boase Phone (416)566-2673