Wealth Minerals Engages Francisco Lepeley as CEO Wealth Minerals Chile SpA

Suite 2710 – 200 Granville Street, Vancouver, BC Canada V6C 1S4

Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com

NR23-07 May 16, 2023

Wealth Minerals Engages Francisco Lepeley as CEO

Wealth Minerals Chile SpA

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: Wealth Minerals Ltd. (the

“Company” or “Wealth”) – (TSXV: WML; OTCQB : WMLLF; SSE: WMLCL; F SE: EJZN)

announces that starting June 1, 2023 it has engaged Francisco Lepeley to be CEO of Wealth

Minerals Chile SpA. Mr. Lepeley has a long track record of top management experience at leading

Chilean companies, having served for nine years as CFO for several of Antofagasta PLC mines in

Chile, four years as CFO of the world’s second largest salmon farming company ($1.4B in annual

revenue), and most recently as CFO of CAP S.A., Chile’s leading iron ore and steel producer. Mr.

Lepeley will lead Wealth’s in-country expansion as the Company ramps up activity at its Ollagüe

and Atacama Projects. Marcelo Awad remains as Executive Director of Wealth Minerals Chile

SpA.

Hendrik van Alphen, Wealth’s CEO, commented: “We are honor ed to have someone of

Francisco’s caliber join our Company. We are at the stage where we need a more robust presence

inside Chile and need Francisco’s entrepreneurial and project development skills , and his

experience in large M&A, equity and debt transactions . Now that Chile has a clear policy for

lithium asset development (see press release of April 24, 2023) our team is working in overdrive

to advance our Ollagüe and Atacama Projects both operationally with planned field work, and

strategically with financial and development partners. Francisco is just the person to ensure Wealth

capitalizes on this new phase of our Company’s path.”

Marcelo Awad, Executive Director of Wealth Minerals Chile SpA, noted: “I have known Francisco

for many years and can attest to his professionalism and skill at managing challenging situations

to emerge with successful outcomes. I look forward to him joining the Wealth team as the new

Chilean lithium policy gives new impetus to our work.”

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.

Wealth Minerals Ltd. - 2 - May 16, 2023

NR23-07 – Continued

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

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.

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 authorizations required, including TSXV acceptance, for its planned

activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue

Wealth Minerals Ltd. - 3 - May 16, 2023

NR23-07 – Continued

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.