Wealth Minerals Acquires Additional Ground in Ollagüe Salar
#2710 – 200 Granville Street, Vancouver, British Columbia, Canada V6C 1S4
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
NR22-05 May 3, 2022
Wealth Minerals Acquires Additional Ground in
Ollagüe Salar
FOR IMMEDIATE RELEASE....Vancouver, British Columbia: Wealth Minerals Ltd. (the
“Company” or “Wealth”) - (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZN),
reports the Company has signed an agreement with Lithium Chile Inc. (TSXV: LITH) (“Lithium
Chile”) to acquire 1,600 hectares (“New Ollagüe Licenses”) adjacent and near -adjacent to its
existing license position in the Ollagüe basin (the “Transaction”).
Pursuant to the terms of the agreement , the Company is obligated to Lithium Chile , upon the
completion of due diligence, to issue 2,000,000 shares of Wealth Minerals. An additional payment
of 1,000,000 shares is payable by the Company to Lithium Chile if within twelve months Wealth
either establishes within the acquired licenses a resource with an average grade of 300 parts per
million lithium content, or a test well on the acquired licenses that produces material which tests
no less than 300 parts per million lithium content. If Wealth does not conduct work necessary to
potentially determine a resource or does not have a test well to produce material for lithium testing
within twelve months, then Wealth is obligated to pay 500,000 shares to Lithium Chile. If the work
necessary to potentially determine a resource or run a test well is completed, but a resource or test
well does not produce an average grade higher than 300 parts per million lithium, then no further
share payments are due by Wealth to the Seller. The Transaction is subject to TSXV approval.
The New Ollagüe Licenses have historical drilling on them, the highlight results of which are
below in Table 1:
Table 1
Source: Lithium Chile Inc. press releases of August 23, 2018 and October 11, 2018.
The depths of lithium bearing material intersected from the drilling campaign of 2018 coincide
very closely with the main low conductivity zone detected by a transient electromagnetic survey
(“TEM”) completed by Lithium Chile during March 2018 (see Lithium Chile news release of April
3, 2018) which supports Lithium Chile’s interpretation that the lithium bear ing-material in the
salar is open at depth.
Depth
(m) Li mg/l K mg/l Mg mg/l Depth
(m) Li mg/l K mg/l Mg mg/l Depth
(m) Li mg/l K mg/l Mg mg/l Depth
(m) Li mg/l K mg/l Mg mg/l
150 270 2000 2070 150 220 2600 1200 190 210 3000 4460 190 210 2700 3810
170 260 2400 2530 170 230 2800 2520 210 200 2800 4180 210 250 2500 3230
190 370 3500 3505 230 200 2700 3690 230 220 2600 3320
210 360 3400 3400 250 210 2800 3790 250 270 3300 3490
230 380 3600 3600
250 460 4300 4300
270 480 4500 4500
OLL-02-18
Zone open to depth
OLL-01-18 OLL-03-18 OLL-04-18
Zone open to depth Zone open to depth
Base of Zone 290m
Wealth Minerals Ltd. - 2 - May 3, 2022
NR22-05 – Continued
Wealth’s CEO Hendrik van Alphen, commented: “We look forward working with our partners in
the Ollagüe Community to make the Ollague project a success for all stakeholders. This transaction
with Lithium Chile clearly shows our commitment to the area, as well as our conviction that it is
a superb project for Wealth.”
The Ollagüe Project
The Ollagüe Project, after the Transaction, consists of 8,000 hectares located in northern Chile,
Region II, near the Chile -Bolivia border. Lithium Chile conducted a drilling campaign in 2018,
which returned lithium grades up to 480 Li mg/l and earlier surface sampling work returned lithium
grades as high as 1,140 Li mg/l. Readers are cautioned these results are not in any way indicative
of mineral deposits on Wealth’s mineral properties or position in the Ollagüe basin. Wealth
previously conducted a coincident loop Transient Electromagnetic (“TEM”) survey on the Ollagüe
Project, which identified very highly conductive zones (“Zones”) and are interpreted to represent
porous media with high-salinity fluids (potentially lithium-bearing brines) at depth. Testing these
Zones with drilling is the focus of Wealth’s anticipated drilling program for 2022 (see press release
of March 28, 2022). The map below (Map 1) shows the license position of Wealth in the Ollag üe
basin after the completion of the Transaction.
Map 1: Ollagüe Project Map
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico and Chile. The Company’s
main focus is the acquisition and development of lithium projects in South America.
Wealth Minerals Ltd. - 3 - May 3, 2022
NR22-05 – Continued
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.
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.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, 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
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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
Wealth Minerals Ltd. - 4 - May 3, 2022
NR22-05 – Continued
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 authori zations 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 t o 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 fil ings 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.