Alset Engages Srk Consulting to Undertake Mineral Resource Estimates FOR Three of Its Lithium Salars, Consolidates Share Capital
ALSET ENGAGES SRK CONSULTING TO UNDERTAKE MINERAL
RESOURCE ESTIMATES FOR THREE OF ITS LITHIUM SALARS,
CONSOLIDATES SHARE CAPITAL
February 27, 2018
Vancouver, British Columbia: Alset Minerals Corp. (TSXV: ION) (“Alset” or “the
Company”) is pleased to report that it has engaged SRK Consulting, to perform Mineral
Resource Estimates (MREs) on three of its lithium salars. The salars include: Santa
Clara, La Salada, and Caliguey. Of the salars in the Zacatecas and San Luis Potosi
areas Santa Clara is the largest, La Salada has the highest average lithium grade, and
Caliguey hosts the highest-grade lithium sample and the second highest average lithium
grade.
SRK Consulting has a demonstrated track record in undertaking independent
assessments of resources, reserves, project evaluations and audits. SRK has an office
in Mexico and its staff has significant experience in the compilation of NI 43-101 reports.
SRK’s previous international experience in the lithium mining industry is extensive and
includes work on brines, clays, pegmatites, and volcanic hosted deposits.
President and Chief Executive Officer Allan Barry Laboucan said: “In the past year we
expanded our Mexican portfolio from having six lithium prospective salars, to an
additional 7 salars and then staked nearly one million acres over three very large salars.
All of these salars are 100% owned Alset projects. We look at it as two main project
regions, with a southern cluster of 13 salars in the states of Zacatecas and San Luis
Potosi, and the second much larger northern cluster in the state of Coahuila. The salars
that make up the southern cluster are the most advanced, with enough historical data
and recent work to be able to complete a number of mineral resource estimates. These
are the three mentioned earlier which include our largest salar, the highest-grade lithium
salar, and the salar with the highest-grade lithium sample in the southern cluster. We
are excited to be able to complete initial mineral resource estimates on these three
salars. This work will help provide scope to the tonnage potential of these three salars
and help lead our future work on exploration and development of all our lithium
prospective salars in the southern cluster.”
The Company is also pleased to announce that, further to its January 16, 2018 news
release it has received TSX Venture Exchange approval to consolidate its share capital
ALSET MINERALS CORP.
Suite 1400 – 1040 West Georgia Street
Vancouver, BC V6E 4H8
Tel: 604-505-4753
www.alsetenergy.ca
on the basis of one (new) post consolidation share for each three (old) pre-consolidation
shares (the “Consolidation”). Shares of the Company will commence trading on a
consolidated basis as of February 28, 2018.
The board of directors of the Company believes that the Consolidation is necessary to
better position the Company for future corporate development opportunities and
financing transactions. There will be no name change in conjunction with the
Consolidation.
The Company currently has 58,911,967 common shares issued and
outstanding. Following the Consolidation, it is anticipated that the Company will have
approximately 19,637,322 common shares issued and outstanding, and continue to
trade on the TSX Venture Exchange under the existing stock symbol “ION".
The exercise or conversion price and the number of common shares issuable under any
of the Company's outstanding warrants and stock options will be proportionately
adjusted to reflect the Consolidation in accordance with their respective terms
thereof. No fractional common shares will be issued pursuant to the Consolidation, and
any fractional common shares that would otherwise be issued will be rounded down or
up to the nearest whole number.
Emily Hanson, PGeo, Vice-President of exploration for Alset Minerals Corp., is the
qualified person responsible for the technical content of this release.
About Alset Minerals Corp. (ION.V)
Alset Minerals is a TSX Venture Exchange-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, in November 2017, added nearly one
million acres of lithium prospective salars, through staking. Alset has a growing portfolio
of 100-per-cent-owned lithium prospective salars in the states of San Luis Potosi,
Zacatecas and Coahuila. With the November 2017, staking, the company now has more
than one million acres of lithium prospective salars in mining-friendly Mexico with roads
and power up to the salars.
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, 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 s tudies; 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 pre-feasibility 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 sh ould 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.
For further information contact Allan Barry Laboucan @:
Phone (604) 505-4753
www.alsetminerals.com