Alset Energy Corp., formerlyBenton Capital Corp.,said May 10 that it has entered into a binding letter of intent with to earn a 100%interest in 10 minerals concessions covering 16 known lithium, potassium and boron-richsalars and one gypsum zone in Mexico.

The company will conduct a 30-day due diligence to complete theacquisition of any or all of the concessions by paying any outstanding taxes owed.The company will also pay US$210,000 to the optionor in five years following thedue diligence and signing of a definitive agreement.

The optionor will retain a 2.25% net smelter returns royalty,of which 1 percentage point can be purchased by the company for US$250,000.

In April, the company acquireda 100% interest in an additional 30 units in two claims at its Wisa Lake lithium project in Ontario, through staking.