Wealth Minerals and the Quechua Indigenous Community of Ollagüe Sign Agreement to Jointly Develop the Kuska Lithium Project
#1570 - 200 Burrard Street, Vancouver, British Columbia, Canada, V6C 3L6
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
NR25-15 February 3, 2025
Wealth Minerals and the Quechua Indigenous Community of Ollagüe
Sign Agreement to Jointly Develop the Kuska Lithium Project
FOR IMMEDIATE RELEASE…Vancouver, British Columbia: Wealth Minerals Ltd. (the “Company” or
“Wealth”) – (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; FSE: EJZN) and the Quechua Indigenous
Community of Ollagüe (“CIQO”), collectively the “Parties”, have agreed (the “Agreement”) to form a joint
venture company (the “JV”) to develop the Kuska Lithium Project (“Kuska”) on the territory of the Ollagüe
Salar.
The Agreement considers that CIQO will make their best efforts to promptly work with the Wealth team to
establish a Chilean legal entity to serve as the JV, and CIQO will own a 5% free- carried interest in the JV
and have the right to one of five director seats on the Board of Directors of the JV. Both Wealth and CIQO
believe this structure is the right balance to bring Kuska to production and ensure the highest standards of
community participation and transparency. The Parties have also discussed the JV developing new projects
in the CIQO general area of interest where there may be synergies with Kuska.
The Kuska Project is located in the Ollagüe Salar, Antofogasta region , northern Chile , and is presently
100% owned by Wealth Minerals and royalty- free. The maiden resource report published by Wealth
Minerals Ltd. (see press release January 17, 2023 and Technical Report of January 13, 2023 “Estimated
Lithium Resources Ollagüe Project” posted on SEDARPlus) estimates 741,000 tons Lithium Carbonate
Equivalent (“LCE”) indicated resources grading 175 mg/L (plus 701,000 tons LCE inferred resources
grading 185 mg/L) with an average indicated lithium grade of 175mg/l. On January 4, 2024, Wealth
announced the key highlights of a PEA produced by DRA Global Limited. The PEA describes the Kuska
Project development towards a 20,000 metric tpa LCE output and an anticipated Life of Mine (“LOM”) of
20 years. The Kuska Project in the PEA estimates a Pre-Tax NPV10% of US$1.65 bn and a 33% IRR. The
PEA was filed on SEDARPlus on February 16, 2024.
On September 30, 2024, the Government of Chile announced that the Strategic Council of the Lithium and
Salt Flats Committee (“Strategic Council”) had approved a first group of six locations for the development
of lithium projects in Chile, which included the Ollagüe Salar. The decision was based on all six locations
having favorable conditions for the feasibility of a lithium operation. The decision of the Strategic Council
means that Kuska will be prioritized to receive a special lithium operation contract (“CEOL”) by the State
of Chile (see press release of September 30, 2024).
Regarding the Agreement, Henk van Alphen, CEO of Wealth Minerals Ltd. commented : “We have been
working on the base of this agreement for several years and we are confident that the only way to do mining
is by effectively incorporating communities in to the business and project activities. We plan to continue
advancing the development of Kuska, indeed to now accelerate the pace, so that we can soon build a lithium
production operation at Ollagüe.”
For his part, Víctor Nina Huanca, President of the Quechua Indigenous Community of Ollagüe, indicates
“The association with Wealth Minerals for the Kuska project will allow the Community to be involved in
the development of the project, making decisions and guiding the care and protection of the most vulnerable
sectors of our territory, ensuring that everyt hing is done with the highest standards. Respect for our
Wealth Minerals Ltd. - 2 - February 3, 2025
NR25-15 – Continued
#1570 - 200 Burrard Street, Vancouver, British Columbia, Canada, V6C 3L6
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
worldview and the environment will be key to carrying out this process. We trust that we will be able to
continue moving forward together for the good of Chile, the Antofagasta Region and the Community of
Ollagüe. This JV initiative, the first of its kind in Chile, gives the Quechua Community of Ollagüe important
leadership in the new development agenda of the indigenous peoples of Chile, in which the community acts
empowered, directly managing its territory.”
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada and Chile. The Company’s focus is the
acquisition and development of lithium projects in South America.
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.sedarplus.ca.
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
Follow Us:
Facebook – https://www.facebook.com/WealthMineralsLtd
Linkedin – https://www.linkedin.com/company/wealth-minerals
Twitter – https://www.twitter.com/WealthMinerals
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.
Wealth Minerals Ltd. - 3 - February 3, 2025
NR25-15 – Continued
#1570 - 200 Burrard Street, Vancouver, British Columbia, Canada, V6C 3L6
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
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 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.