Wealth Minerals Acquires Additional Ground at Kuska Project, Ollagüe Salar

Vancouver, British Columbia–(Newsfile Corp. – February 27, 2024) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the “Company” or “Wealth”) announces it has via claim acquired 2,500 ha of new license area adjacent to the Kuska Project in the Ollagüe Salar in Chile. Although to date these new licenses have not been investigated for lithium, lithium brine resource methodology puts this new ground within statistically relevant distance to existing drill and data points (see Figure 1). This new ground is not included in the resource estimate of the Kuska Project Preliminary Economic Assessment (“PEA”) (see press release of January 4, 2024).

Hendrik van Alphen, CEO Wealth Minerals, said, “This new land positions further strengthens our development plans for the Kuska Project and brings our total license holdings in the Ollagüe Salar to 10,500 ha. We strive to have the best possible lithium operation for Kuska and this acquisition is a part of that process.”

Figure 1: New License Area

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Note 1: These are the resource estimate boundaries that were defined in the Technical Report of January 13, 2023 “Estimated Lithium resources Ollagüe Project” for the drill holes OC-01 and OC-04, where the 3.5 km boundary closest to the well was used to estimate an Indicated resource, while the area between the 3.5 km boundary and a second 5 km boundary was used as the areal extent to estimate an Inferred resource.

Kuska Project

The Kuska Project is located in the Ollagüe Salar, Antofogasta region, and is 100%, royalty-free owned by Wealth Minerals. The maiden resource report published by Wealth Minerals Ltd. (see press release January 17, 2023 and Technical Report of January 13, 2023 “Estimated Lithium resources Ollagüe Project” posted on SEDARPlus) estimates 741,000 tons Lithium Carbonate Equivalent (“LCE”) indicated resources grading 175 mg/L (plus 701,000 tons LCE inferred resources grading 185 mg/L) with an average indicated lithium grade of 175mg/l. On January 4, 2024 Wealth announced the key highlights of a PEA produced by DRA Global Limited. The PEA describes the Kuska Project development towards a 20,000 metric tpa LCE output and an anticipated Life of Mine (“LOM”) of 20 years. The Kuska Project in the PEA demonstrates a Pre-tax NPV10% of US$1.65 bn and a 33% IRR. The PEA was filed on SEDARPlus on February 16, 2024.

Qualified Persons

Mr. Michael J. Rosko, MS PG, an independent consultant to Wealth Minerals and Vice President of E. L. Montgomery & Associates Inc. is a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed the scientific information that forms the basis for this news release, and has approved the disclosure herein.

About Wealth Minerals Ltd.

Wealth is a mineral resource company with interests in Canada and Chile. The Company’s focus is the acquisition and development of lithium projects in South America.

The Company opportunistically advances battery metal projects where it has a peer advantage in project selection and initial evaluation. Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. In parallel with lithium market dynamics, Wealth believes other battery metals will benefit from similar industry trends. On January 13, 2021, and ending March 2, 2025, Liviakis Financial Communications, Inc. (LFC) was retained by Wealth Minerals LTD in various consulting capacities including strategic management planning, investor relations and other business development responsibilities.  LFC is compensated CAD 20 thousand dollars per month in cash or stock equivalent.   Officers and employees of LFC will buy or sell shares in Wealth Minerals LTD prior, during or after this release.  LFC advises Wealth Minerals LTD but does not provide investment advice.  LFC is not a registered investment advisor or broker-dealer.  All material provided regarding Wealth Minerals LTD including, but not limited to its history, corporate status, and other developments was prepared using information approved and signed off by Wealth Minerals LTD management as approved for public dissemination.  Although the information contained herein is believed to be reliable, LFC makes no warranties as to the accuracy of the description of any of the content herein and accepts no liability for how readers may choose to utilize it.

For further details on the Company readers are referred to the Company’s website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedarplus.ca.

On Behalf of the Board of Directors of

WEALTH MINERALS LTD.

“Hendrik van Alphen”
Hendrik van Alphen
Chief Executive Officer

For further information, please contact:
Marla Ritchie, Michael Pound or Henk van Alphen
Phone: 604-331-0096 or 604-638-3886

For all Investor Relations inquiries, please contact:
John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670

For all Public Relations inquiries, please contact:
Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053