Alset Appoints Tim Oliver as New President and CEO

THUNDER BAY, ONTARIO–(Marketwired – Aug. 10, 2016) – Alset Energy Corp. (TSX VENTURE:ION) (“Alset” or “the Company”) is pleased to announce the appointment of Mr. Timothy S. Oliver, PE, P.Eng. as President and Chief Executive Officer of Alset Energy Corp. In addition, Mr. Oliver will be joining the Board of Directors. Mr. Stephen Stares will step down as the current President and CEO in order to focus his efforts as President and CEO of Benton Resources Inc. but will remain a director of the Company.
As previously announced (see Alset PR May 26, 2016), Mr. Oliver has extensive experience not only in Mexico but also in the lithium space having served as VP of Project Development for Lithium X Energy Corp. until February of this year.
Stephen Stares, co-founder and outgoing President and CEO stated, “Tim initially joined our team to lead the Mexican Lithium Salar project development. His vast experience, perspective and ability to quickly assess and analyze the project was quite apparent and it was clear that Tim possessed the necessary skills to lead Alset moving forward. Tim’s extensive and multifaceted career in mining as well as his experience with lithium brines makes him an ideal CEO for Alset and we feel very fortunate that he has agreed to assume this role. We feel confident that Alset is in good hands and are excited for Tim to lead us to success in the future.”
Tim Oliver commented, “I am thrilled to assume this leadership position at Alset. Given both my passion for the lithium space and my experience operating in Mexico, developing a completely new lithium brine district in the Central Mexican Plateau is an exciting prospect. The promise of potash production adds further potential shareholder value given the current lack of domestic supply in Mexico. In addition, the spodumene-rich Wisa Lake lithium project has significant potential and a targeted shallow diamond drill program should allow us to not only start delineating tonnage on the original showing but begin to present a third dimension to the other lithium-rich zones as well. Stephen and his team have done a tremendous job acquiring very attractive assets in Alset thus far and I look forward to strategically advancing these prospects towards development in the future.”
Pursuant to Mr. Oliver’s appointment to the Board of Directors of the Company, Mr. Michael Stares has resigned from the Board and will remain in an advisory role with the Company. Mr. Stares has been instrumental as a director of the Company since its inception. Alset would like to thank Michael for his past service and wishes him success in the future.
Alset is well funded and recently announced a non-brokered private placement to raise up to $2 million (see PR July 29, 2016).
On behalf of the Board of Directors of Alset Energy Corp,
Stephen Stares, President
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