Wealth Initiates Lake-Brine Sampling and Evaluation Program at Laguna Verde Lithium Project, Chile Retains Tenova to Complete Processing Test Work and Project Capital and Operating Cost Estimates
Suite 2300 – 1177 West Hastings Street, Vancouver, BC Canada V6E 2K3
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
NR17-08 March 31, 2017
Wealth Initiates Lake-Brine Sampling and Evaluation
Program at Laguna Verde Lithium Project, Chile
Retains Tenova to Complete Processing Test Work and
Project Capital and Operating Cost Estimates
FOR IMMEDIATE RELEASE....Vancouver, British Co lumbia: Wealth Minerals Ltd. (the
“Company” or “Wealth”) - (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt:
EJZN), reports that it has initiated an extens ive lake-brine sampling and project evaluation
program (the “Work Program”) at the Laguna Ve rde Lithium Project in Chile. The Project
comprises 23 exploration mining concessions for a total of 2,438 hectares and is located in
Region III, northern Chile, 193 km east of the re gional capital city of Copiapo, adjacent to
Highway 60 and 15 km west of the border with Argentina.
The Work Program ( Figure 1 ) will include a detailed bathymet ric (water depth) survey, lake-
brine sampling to determine grade distribution, as well as an independent resource calculation
and the preparation of a National Instrument 43-101 (“NI 43-101”) technical report. In addition,
Wealth has retained Tenova Advanced Technologi es (“TAT”) (a division of Tenova S.p.A.) to
complete laboratory testing on the Laguna Verde lake-brine in order to develop
recommendations for process design. An order of magnitude cost estimate study will be used to
evaluate the capital expenditures and operating expenses for producing 20,000 ton per annum lithium
carbonate equivalent (“LCE”) of LiOH·H2O.
“It is extremely exciting to have initiated this comprehensive project evaluation program at
Laguna Verde” stated Henk van Alphen, Wealth’s CEO. “We believe that the project offers a
unique opportunity where known technologies can be applied to a comparatively less complex
lithium deposit.”
Figure 1: Indicative Project Evaluation Timeline
Wealth Minerals Ltd. - 2 - March 31, 2017
NR17-08 – Continued
A discussion of the advantages of lake-brine over conventional aquifer-brine and the details of
the Company's work program are provided below.
Bathymetric Survey
A detailed bathymetric survey is currently unde rway to determine water depth at Laguna Verde
and to map the lake floor in detail. Previous operators at Laguna Verde reported that the lake
was up to 60m in depth with a mean depth of 33 m. The bathymetric survey that Wealth has
initiated will map the depth to the lake floor and the resulting data will allow the total volume of
water to be accurately calculated. Note: in a conventional brine deposit, the quantity of lithium-
bearing brine is estimated from drill hole data. At Laguna Verde, the quantity of water in the
lake can be measured with relative accuracy beca use the water surface is horizontal and the third
dimension can be measured with bathymetry.
Lithium Grade Distribution
Historical water sampling in Laguna Verde was completed only to a maximum depth of 15m due
to technical limitations of the sampling method used. Historical resources were extrapolated to
the mean depth of 33m. Wealth will complete water sampling on a 1,000m by 1,000m
horizontal grid and at depth intervals of 15m belo w surface to the base of the lake. This work
will provide a better understanding of the vertical lithium grade distribution throughout the lake,
including the portion from below 15m to the maxi mum reported depth of 60m, which has never
before been sampled. Note: in a conventional aquifer-brine deposit, lithium grade is determined
by sampling drill holes. At Laguna Verde, sampli ng does not require drilling so the process is
considerably simpler, has a lower regulatory threshold and is much less expensive.
Water Column Survey
While the sampling is being completed, Wealth will also take continuous measurements of
conductivity, temperature and pH from water surface to the lake floor. Using the conductivity
measurements as an example, conductivity is exp ected to be higher because the lake-brine will
be more conductive. The collection of this data will provide qualitative information about
horizontal stratification of lithium grade with depth. Note: This data can be easily and
inexpensively collected in a lake setting and coll ection of multiple vertical profiles through the
lake will provide early indications of potential lithium grade distribution vertically.
Resource Estimate
A NI 43-101 technical report da ted May 5, 2010 prepared by John Hiner for Pan American
Lithium Corp. (the "2010 Report"), disclose d an inferred resource of 512,960 tonnes of LCE”)
and 4,223,123 tonnes of potassium chloride equivalent (the “Historical Resource”). However, as
noted above, the depth of historical water samp ling was limited to 15m below the lake surface
and limited the magnitude of resource estimation, which was extrapolated to only 33m.
The current Work Program is bei ng carried out in part to veri fy and expand upon the Historical
Resource and the Company has retained the author of the 2010 Report to conduct a site visit to
the Project and to supervise a portion of the bathymetric and water sampling program. Note: in a
conventional brine project, the resource estimate must successfully evaluate aquifer geometry,
Wealth Minerals Ltd. - 3 - March 31, 2017
NR17-08 – Continued
specific yield of the aquifer, as well as perm eability, hydraulic conduc tivity, transmissivity,
storativity, and dispersivity. At Laguna Verde, these aspects do not need to be quantified.
The Historical Resource is considered rele vant because it was completed using standards
consistent with CIM guidelines in 2010 as such guidelines related to lithium brine resource
estimation. The Company cautions that the Historic al Resource is historic al in nature and the
Company is not treating such resources as a current mineral resource under NI 43-101. Investors
are further cautioned that a qua lified person has not yet completed sufficient work to be able to
verify the Historical Resource as a current minera l resource, and therefore it should not be relied
upon.
NI 43-101 Technical Report
An independent qualified person (as such term is defined in NI 43-101) will compile an NI 43-
101 technical report, which will include resource estimates as well as a detailed description of
the Laguna Verde Project.
Processing Tests
TAT has developed, with its affiliates, a comprehe nsive liquid-liquid solvent extraction process for
the recovery and production of lithium ( LiSX™ ). Additionally TAT has developed a process for
removal of calcium and magnesium using membranes ( LiP™ ), and an electrolysis process for the
production of highly pure LiOH (LiEL™ ).
The proposed laboratory process testing of the Laguna Verde lake-brine is planned as two stages:
Stage I. LiP™ - removal of alkaline earth elements will be evaluated using the
membrane process.
Stage II. LiSX™ - lithium recovery from the resulting brine will be tested.
TAT deliverables will include results of laboratory tests with analytical data including general
composition of the pretreated and waste streams for the LiP™ (from lab scale tests) as well as
product and raffinate analysis for the LiSX™. Reagent and energy consumption for LiSX™ and
LiP™ respectively will also be quantified and reco mmendations will be made for a scaled-up mini-
pilot configuration.
Capital and Operating Estimates
TAT will complete an order of magnitude cost estimate study for the Laguna Verde Project, which
will evaluate the capital expenditures (“CAPEX”) and operating expenses (“OPEX”) for producing
20,000 ton per annum LCE of LiOH·H O.
CAPEX will be estimated using TAT’s internal database of recent pricing for similar sized
equipment. The OPEX estimate will be based on preliminary consumables list and internal database
prices of SX reagents. Deliverables will include preliminary design criteria, block diagram, general
equipment layout, equipment list as well as the CAPEX and OPEX estimates.
Wealth Minerals Ltd. - 4 - March 31, 2017
NR17-08 – Continued
Qualified Person
Mr. Keith Henderson, PGeo, is a qualified person as defined by NI 43-101. Mr. Henderson has
reviewed the scientific and technical information that forms the basis of this news release and
has approved the disclosure herein.
About Wealth Minerals Ltd.
Wealth is a mineral resource company with inte rests in Canada, Mexico, Peru and Chile. The
Company’s main focus is the acquisition of lith ium projects in South America. To date, the
Company has positioned itself to develop the Aguas Calientes Norte, Pujsa and Quisquiro Salars
in Chile (the Trinity Project), as well as to work alongside existing pr oducers in the prolific
Atacama Salar, in addition to its recently a nnounced Laguna Verde lithium project acquisition.
The Company continues to aggressively pursue new acquisitions in the region. 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. The Company also main tains and continues to
evaluate a portfolio of precious and base metal exploration-stage projects.
For further details on the Company, reader s 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 Prov ider (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 Reform Act of 1995 . All statements, other than statements of historical
fact, included herein including, without limitation, stat ements regarding the anticipat ed content, commencement,
timing and cost of the Work Program and otherwise, anticipated exploration program results from the Work
Program, the discovery and delineation of mineral depos its/resources/reserves on the Project, the anticipated
business plans and timing of future activities of the Company and the Company’s expectation that it will be able to
enter into agreements to acquire interests in additiona l mineral properties, 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
Wealth Minerals Ltd. - 5 - March 31, 2017
NR17-08 – Continued
those in forward-looking statements as a result of various factors, including, issues raised during the Company's
due diligence on the Project, operating and technical difficulties in connection with mineral exploration and
development activities, actual results of exploration activities, including th e Work Program, the estimation or
realization of mineral reserves and mineral resources, th e timing and amount of estimated future production, the
costs of production, capital expenditures, the costs and tim ing of the development of new deposits, requirements for
additional capital, future prices of lithium and precious metals, changes in general economic conditions, changes in
the financial markets and in the demand and market price for commodities, labour disputes and other risks of the
mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of
development or construction activities, changes in laws, regulations and polic ies affecting mining operations, title
disputes, the inability of the Company to obtain any nece ssary permits, consents or authorizations required,
including TSX-V acceptance of any current or future property acquisitions or financings and other planned
activities, the timing and possible outcome of any pendi ng litigation, environmental issu es and liabilities, and risks
related to joint venture operations, 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.
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.
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