Alset Closes Private Placement

ALSET CLOSES PRIVATE PLACEMENT

October 26, 2017

Vancouver, British Columbia: Alset Energy Corp. (TSXV: ION) (“Alset” or “the Company”)

announces that it has closed its private placement financing previously announced October 10,

2017. On TSX Venture Exchange approval the Company will issue 2,500,000 Units at $0.08

per Unit, each Unit consisting of 1 common share and 1 common share purchase warrant, each

warrant being exercisable at $0.10 for 12 months from closing, for total proceeds of $200,000.

All securities issued pursuant to this financing will be subject to a four (4) month hold period

commencing on the date of issuance of the Units.

The Company will use the proceeds of this private placement for general working capital

purposes and to advance its lithium projects in Mexico.

The financing and associated terms are subject to TSX Venture Exchange approval.

ON BEHALF OF THE BOARD OF DIRECTORS

About Alset Minerals Corp. (ION.V)

Alset Minerals Corp. is a TSX-V listed junior exploration company focused on exploring and

development of a group of high-grade lithium and potassium projects in the Central Mexican

Plateau. The Company is actively exploring in Mexico and has a growing por tfolio of 100%

mineralized lithium-SO4-potassium salars in the states of San Luis Potosi and Zacatecas, two

prolific mining jurisdictions.

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

"Allan Barry Laboucan"

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,

ALSET MINERALS CORP.

Suite 1400 – 1040 West Georgia Street

Vancouver, BC V6E 4H8

Tel: 604-505-4753

www.alsetenergy.ca

objectives, assumptions or future events or performance are not statements of historical fact

and may be "forward-looking statements."

For further information contact Allan Barry Laboucan @:

Phone (604) 505-4753

www.alsetminerals.com