News release

NR10-03 3 O October 19, 2010

Wealth R W Retains A Axon Co ommunic cations I Inc. to P Provide Inv vestor Re elations Services s

New CF N FO Appo ointed

Option ns Gran nted

FOR IM MMEDIATE RELEASE.

......Vancouv ver, British Columbia: Wealth M Minerals Ltd. . (the “Compan ny” or “We ealth”) - (TS SX Venture e Exchange: WML, Fra ankfurt: EJZ Z), is please ed to announce e that the C Company ha as entered i into an agre eement to r retain the services of A Axon Commun nications Inc c., of Vancou uver, BC, to

• provide inv vestor relatio ons services to the Comp pany,

commenc cing immedi iately. The Company a also announc ces that Mr. David Cros ss CGA has been , 2010, to fill the vacanc cy created b appointed d Chief Fina ancial Office er, effective October 15, by the resignatio on of Mr. M Michael Kinle ey CA.

Investor Relations A Agreement w with Axon Co ommunicati ions Inc.

The Pres sident and o owner of A Axon, Mr. Jo ohn Kocela, , has extens sive experie ence in corp porate communications and d private equ uity capital. Mr. Kocela has worke ed in the are ea of shareh holder and inve ns for over 15 years fo estor relation or companie es listed on the TSX an nd TSX Ve enture Exchanges. He is t the Presiden nt of Da Vin nci Venture Fund Ltd., a private C Canadian ho olding company

y. He was a also co-foun nder of ACS S Manageme ent Group In nc., a Vanco ouver based d firm that prov vided regula atory, and el lectronic fili ing services for over 80 0 public com mpanies list ted in Canada a and the Unite ed States.

Axon will assist Wealth in public dissemina ation of con nsistent and t timely corpo orate inform mation to shareh holders, pote ential investors and fina ancial profes ssionals, as well as develop an effe ective investor r relations stra ategy for the e Company w within the in nvestor and b brokerage co ommunities.

The agre eement is for r an initial term of one year, and is terminable on 90 days’

’ notice by e either Axon will be paid a fee o Mr. Kocela has been granted party. A of $10,000 p per month. I In addition, M Incentive Stock Option Plan. 200,000 incentive stock options pursuant to

• the Compa any’s 2004 I

In accord dance with T TSXV requir rements, thes se options w will vest over r a period of f 12 months, , with 12.5% ve esting on gra ant, 12.5% a after three m months and th he balance o of 75% as to

• 25% on ea ach of

the 6, 9 a and 12 month anniversa aries of the d date of gran nt. The gran nt of the options is subje ect to TSXV ac cceptance of f the agreem ment with Ax xon. Neithe er Axon nor r Mr. Kocela a presently h holds any secur rities of the Company.

Suite 1920 0 – 1188 West G Georgia Street, Vancouver, B BC Canada V6E E 4A2 Tel 604.331.0096 Fax 60 04.408.7499 www w.wealthminerals.com

New Chief Financial Officer

Effective October 15, 2010, the Company has appointed Mr. David Cross as its Chief Financial Officer to replace Mr. Michael Kinley, who resigned as CFO in order to devote more time to other issuers of which he is also the Chief Financial Officer. The Board would like to take this opportunity to thank Mr. Kinley for his many years of exceptional service as the Company’s CFO.

Mr. Cross is a Certified General Accountant and has a strong accounting background. Currently, he is a partner in the firm of Cross Davis & Company. His past experience consists of senior management positions, including five years at Davidson & Company LLP as Manager. Prior to that, he spent six years with Canadian Communication Products Inc. as its Assistant Controller. The Board welcomes Mr. Cross to the Company’s management team

Grant of Options

The Company announces that, pursuant to its 2004 Incentive Stock Option Plan, it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase up to an aggregate of 500,000 common shares in the capital stock of the Company (including the options granted to Mr. Kocela, as noted above). The options are exercisable on or before October 18, 2012 at a price of $0.50 per share.

About Wealth Minerals Ltd.

Wealth is an early stage mineral exploration company with approximately 40.3 million shares issued and listings on the TSX Venture and Frankfurt Stock Exchanges. The Company’s focus is the acquisition and exploration of prospective uranium and rare earth element properties, primarily in Argentina and Peru. In addition to ongoing work programs on its existing properties, it continues to actively evaluate new potential uranium and rare earth element projects in these and other countries.

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

On Behalf of the Board of Directors of

WEALTH MINERALS LTD.

“Henk Van Alphen”

Hendrik Van Alphen President & CEO

For further information, please contact: John Kocela, Manager of Investor Relations Phone: 604-331-0096/888-331-0096 E-mail: [email protected]

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 proposed investor relations program, the timing of future activities by the Company and the anticipated business plans 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, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, including the acceptance of the agreement with Axon by the applicable regulatory authorities, the Company’s inability 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. The reader is referred to the Company’s recent most annual and interim Management’s Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company’s page on SEDAR at www.sedar.com. 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.

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