Wealth Enters Strategic Alliance with the National Mining Company of Chile - ENAMI
LC103981-2
Suite 2300 – 1177 West Hastings Street, Vancouver, BC Canada V6E 2K3
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
NR18-05 March 19, 2018
Wealth Enters Strategic Alliance with the National Mining
Company of Chile - ENAMI
FOR IMMEDIATE RELEASE....Vancouver, British Columbia: Wealth Mi nerals Ltd.
(the “Company” or “Wealth”) - (TSXV: WML; OTCQB: WMLLF; SSE: WM LCL; Frankfurt:
EJZN) announces that it has enter ed into an agreement (the “Agr eement”) with the fully state-
owned National Mining Company of Chile (“ENAMI”), whereby the parties have agreed to form
a strategic alliance to develop and commercialize the Company’s projects in the Salar de Atacama
and Laguna Verde. The Agreement provides that the parties will have 24 months during which to
study and assess the aforementioned properties and to form a pa rtnership (the “JV”) for the
exploration, development and mining thereof and for the marketi ng of the products from the
projects. The Agreement contemplates that the JV will take the form of an incorporated joint
venture company in which ENAMI will own 10% of the JV and have a 10% free-carried interest,
while Wealth will own the remaining 90% of the JV. The Agreement provides that the parties will
have 24 months to enter into a definitive agreement that will g overn the formation and operation
of the JV.
Hendrik van Alphen, Wealth’s CEO, stated “We are very happy to have ENAMI as a partner for
developing our assets. Not onl y are we now able to draw upon EN AMI’s experience and
knowledge for successfully mining and processing resources in C hile, we have gained a strong
state partner that can help fulfill our goals of full scale dev elopment to achieve production of
lithium and by-products in Chile. This will enable Wealth and ENAMI to meet the world’s growing
demand for lithium and secure Chile’s position as a premier player in global lithium markets.”
Background
Under current Chilean law, and since January 1, 1979, lithium c annot be exploited in Chile by
regular mining concessions. The Chilean Mining Code establishes that lithium is a strategic
mineral and expressly provides that the exploitation of “non-co ncessible” mineral substances
(which includes lithium) can only be performed by:
the Government of the Republic of Chile,
a Chilean state-owned company, or
by means of administrative conc essions or special operation con tracts that meet the
requirements and conditions set forth by the President of the R epublic of Chile for each
such case.
While a few active licenses in Ch ile were granted before the cu rrent state regulations came into
force, the lithium production associated with these licenses re presents a small portion of the
anticipated lithium supply. The Agreement provides Wealth, alon g with ENAMI, the ability to
Wealth Minerals Ltd. - 2 - March 19, 2018
NR18-05– Continued
apply for the grant of the permits required to explore, develop , produce and export lithium in
accordance with the terms of export quotas, in effect from time to time.
Lithium Mining Industry in Chile
Chile is the world’s second largest lithium producer and the la rgest producer of lithium extracted
from high-quality and high-concentration brines, accounting for approximately 35% of the total
global production representing 75,800t of lithium carbonate equ ivalent. Despite this significant
footprint in the industry, lithium production in Chile comes ex clusively from two operations in a
claim owned by CORFO in the Atacama Salar. CORFO (Production De velopment Corporation),
a government body responsible for regional development, has con tracted production services to
both Albemarle (NYSE: ALB) and Sociedad Química y Minera de Chile S.A. or “SQM” (NYSE:
SQM). Neither Albemarle nor SQM own the licenses through which they extract lithium, as both
companies contract directly with CORFO and not the Chilean stat e1. As such, all contracts
governing the relationship between CORFO, Albemarle and SQM are specific to their operations
in the Atacama Salar and are not representative of the current regulatory regime governing the
exploitation of resources from lithium licenses generally. In t he past year, other companies have
begun to enter the lithium space in Chile, most notably CODELCO (National Copper Corporation),
Wealth and Lithium Power International, with projects in prelim inary stages of development.
Chile’s new President, Mr. Sebastián Piñera, and the incoming M inister of Mines, Mr. Baldo
Prokurica, have publicly stated th eir support for Chile’s minin g industry and their political
platform of attracting foreign and domestic investment to Chile’s natural resource sector.
About ENAMI
ENAMI was established in the 1960s as a state company tasked with promoting the Chilean mining
industry, by buying and processing the production of small and medium sized na tional mining
companies. ENAMI is one of two state-owned companies in Chile involved in the mining industry,
the other one being CODELCO.
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico, Peru and Chile. The
Company’s main focus is the acquisition of lithium projects in South America. To date, the
Company has positioned itself to develop the Aguas Calientes Norte and Quisquiro Salars in Chile
(the Trinity Project), as well as to work alongside existing producers in the prolific Atacama Salar.
In addition to the Laguna Verde lithium project acquisition, the Company has also positioned itself
to play a role in asset consolidation in Chile with the Five Salars project.
The Company is transitioning from asset acquisition to the deve lopment of its current high
potential portfolio and, in conne ction therewith, has already i nvested more than a year on
community engagement and geo-physics work related to its Chilea n projects. Lithium market
dynamics and a rapidly increasing metal price are the result of profound structural issues within
the industry meeting anticipated future demand. Wealth is posit ioning itself to be a major
beneficiary of this future mismatch of supply and demand. The C ompany also maintains and
continues to evaluate a portfolio of precious and base metal exploration-stage projects.
1 CORFO is a government agency and not a state-owned company such as ENAMI or CODELCO.
Wealth Minerals Ltd. - 3 - March 19, 2018
NR18-05– Continued
For further details on the Compa ny readers are referred to the Company’s website
(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.
“Hendrik van Alphen”
Hendrik van Alphen
Chief Executive Officer
For further information, please contact: Marla Ritchie
Phone: 604-331-0096 Ext. 3886 or 604-638-3886
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 news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-
looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United
States Private Securities Litigation Refo rm Act of 1995. All statements, other than statements of historical fact,
included herein including, without limitation, the Company’s expectation that it will be able to enter into a definitive
JV agreement with ENAMI, anticipated exploration pr ogram results from exploration activities, the Company’s
expectation that it will be able to obta in the necessary permits to exploit, develop, produce and export lithium, and
the anticipated business plans and timing of future ac tivities 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. In making the forwar d-looking statements in this news re lease, the Company has applied several
material assumptions, including without limitation, that market fundamentals will result in sustained lithium demand
and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future
development of the Company’s Chilean lithium projects in a timely manner, the availability of financing on suitable
terms for the development, construction and continued operation of the Company projects, and the Company’s ability
to comply with environmental, health and safety laws.
Forward-looking statements by the Company are not guarantees of future results or performance, and actual results
may differ materially from those in forward-looking statements as a result of risks and other various factors, including,
operating and technical difficulties in connection with mineral exploration and development activities, actual results
of exploration activities, the estimation or realization of mineral reserves and mineral resources, the timing and
amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the
development of new deposits, requiremen ts for additional capital, future pr ices of lithium, changes in general
economic conditions, changes in the financial markets and in the demand and market price for commodities, accidents,
labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or
financing or in the completion of development or construc tion activities, changes in laws, regulations and policies
affecting mining operations, title dis putes, the inability of the Company to ob tain any necessary permits, consents,
approvals or authorizations (including acceptance by the TSX Venture Exchange) required for the definitive JV
agreement, the timing and possible outcome of any pending litigation, environmental issues and liabilities, risks
related to joint venture operations, and other risks and uncertainties disclosed in the Company’s latest interim
Management’s 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.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no
obligation to update any of the forward-looking statements in this news release or incorporated by reference herein,
except as otherwise required by law.