Wealth Minerals Provides Operational Update

Rhea-AI Summary

Wealth Minerals Ltd. provides an operational update, including participation in the PDAC mining conference, progress on the Kuska Project, and renaming of the Atacama Project to Yapuckuta Project. The company aims to advance its projects and enhance stakeholder engagement.

Vancouver, British Columbia--(Newsfile Corp. - March 1, 2024) - Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") - provides an operation update.

Prospectors & Developers Association of Canada ("PDAC")

Wealth Minerals will host at booth number 3141 during PDAC, the world's largest mining conference to be held in Toronto, Canada from March 3 - 6. Management will be at the booth and ready to meet during the conference.

Kuska Project

In preparation for advancing the Kuska Project past its current Preliminary Economic Assessment stage (See PEA report, as announced on February 16, 2024), the Company has completed a new geophysical survey with data lines both within the existing resource area as well as lines that intersect the new license areas as announced on February 27, 2024. Preliminary analysis suggest that the new geophysical lines demonstrate the continuation of the main Ollagüe geophysical anomaly into the recently acquired licenses. The Company will provide more detail upon final analysis of this geophysical survey in due course.

Yapuckuta Project

Wealth announces that the Atacama Project has been renamed to Yapuckuta Project. "Yapuckuta" means "rich in salt", or "abundant in salt" in the Kunza (Atacameño) language. This was done to better separate the name of the project from the geological feature upon which it sits, to avoid confusion and better accentuate the difference between Wealth's assets and those of our peer group to the south of us in the Atacama Salar.

The state environmental authorities have granted permission to a local indigenous organization in the Atacama Salar, to proceed with the drilling of groundwater monitoring wells covering a vast area that includes the Yapuckuta Project. Local indigenous communities participated in the permitting process and have agreed in moving forward with these activities, that will begin in the short term.

While these monitoring holes will be shallow and are not designed to intersect with what the Company believes will be the main brine reservoir in the Yapuckuta Project, they will provide valuable information about the geology, water levels and how deep and/or shallow brines exist in Wealth's Yapuckuta Project area, information that will be critical for future WML Environmental Assessment Study.

About Wealth Minerals Ltd.

Wealth Minerals (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) is a developer of premier Chilean lithium projects in support of the global energy transition. The Company's flagship Yapuckuta Lithium Project spans 46,200 hectares in the Atacama Salar, a region which contains the world's highest grade and largest producing lithium brine deposits. The Kuska Lithium Project spans 10,500 hectares and maintains an after-tax NPV (10% discount) of US$1.15B per a Preliminary Economic Assessment announced in January 2024.

As the energy transition takes hold, the Company's goal is to advance its project to production and serve as a leading provider of responsibly sourced lithium to North American industry. To learn more, please visit the Company's website www.wealthminerals.com or follow us on LinkedIn, Facebook or Twitter.

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

Investor Relations Contacts:
John Liviakis
Liviakis Financial Communications
(415) 389-4670

or

Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
(949) 259-4987
WML@mzgroup.us
www.mzgroup.us

Public Relations Contact:
Nancy Thompson
Vorticom, Inc.
(212) 532-2208

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, timing and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral projects, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199967

FAQ

What event will Wealth Minerals participate in?

Wealth Minerals will host at booth number 3141 during the PDAC mining conference in Toronto, Canada from March 3 - 6.

What progress has been made on the Kuska Project?

Wealth Minerals completed a new geophysical survey for the Kuska Project, indicating the continuation of the main Ollagüe geophysical anomaly into the new license areas.

Why was the Atacama Project renamed to Yapuckuta Project?

The Atacama Project was renamed to Yapuckuta Project to better differentiate it from the geological feature it sits on and emphasize the distinction from other assets in the region.

What activities are planned for the Yapuckuta Project?

Local indigenous organizations have been granted permission to drill groundwater monitoring wells in the Yapuckuta Project area, with the participation of indigenous communities.