Wealth Minerals Extends Cooperation Agreement with the Indigenous Quechua Community of Ollagüe for a Second Drilling Campaign
#2710 – 200 Granville Street, Vancouver, BC Canada V6C 1S4
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
NR23-08 July 18, 2023
Wealth Minerals Extends Cooperation Agreement with the Indigenous
Quechua Community of Ollagüe for a Second Drilling Campaign
FOR IMMEDIATE RELEASE…Vancouver, British Columbia: Wealth Minerals Ltd. (the
“Company” or “Wealth”) – (TSXV: WML; OTCQB : WMLLF; SSE: WMLCL; F SE: EJZN)
announces the Company has signed an agreement with the Indigenous Quechua Community of
Ollagüe (Ollagüe Community), setting the terms of cooperation between the two parties as an
extension of the original cooperation agreement signed previously (see press release March 28,
2022). Wealth remains committed to respect community rights and traditions and to be open and
transparent in all activities regarding the Ollagüe Project.
The two parties have agreed that Wealth may drill up to twelve holes in the Ollagüe salar basin,
designed to maximize information to improve and potentially increase the resource estimate for
the Ollagüe Project (see press release January 17, 2023). The data collected, including from flow-
test wells, will also allow the Company to advance towards a prefeasibility study proceeding from
the pending preliminary economic assessment (“PEA”). Wealth management expects the PEA to
be completed and announced by the end of Q3-2023.
A fundamental part of the Company’s drill program is the minimization of its footprint in the area
by using existing roads and having as unobtrusive presence as possible so as to minimize the
impact on Ollagüe residents and the surrounding environment. During the course of Wealth’s
drilling program, the Company will prioritize local service providers for transport, vehicles, food
and lodging, as well as contracting Ollagüe Community members to monitor the drilling activities
as part of our commitment to transparency and participation. The Company has also committed to
advance the Ollagüe Project with an end-goal of using only Direct Lithium Extraction technology
(“DLE”) and not water-wasteful solar evaporation.
Wealth’s CEO Hendrik van Alphen commented “This agreement with the Quechua Community is
yet another significant step in the progression of our Ollagüe Project, including work we are doing
in parallel on DLE technology development and testing. The agreement is also a demonstration of
our capacity to partner effectively with communities and to continue building trust for the future
development of Wealth’s operations. I would like to thank again all the leaders of the Indigenous
Quechua Community of Ollagüe for their guidance and support in reaching this important
agreement, and also to reaffirm that all of our activities during this drilling campaign , and any
future development and operation of the lithium project, will minimize any effects on the land and
environment. We firmly believe that this agreement with the Quechua Community will be
transformed in the future into a stronger and more lasting association as strategic partners to
develop this project together”.
Wealth Minerals Ltd. - 2 - July 18, 2023
NR23-08 – Continued
Ollagüe Project
The Ollagüe Project consis ts of 8,000 hectares located in northern Chile, Region II. Wealth
Minerals announced a maiden lithium carbonate equivalent (“LCE”) resource estimate for the
Ollagüe project, with highlights including an indicated resource of 741,000 tonnes LCE grading
175 mg/l and an inferred resource of 701,000 tonnes LCE grading 185 mg/l. Based on the results
of exploration conducted by third parties and the 2022 drilling program completed by Wealth, four
tentative hydrogeologic units were defined. These hydrogeologic uni ts have medium to high
permeability and are amenable for recovering brine to surface (see NI 43 -101 report “Results of
Year 2022 Exploration Activities, and Estimated Lithium Resources Ollagüe Project ” dated
January 13, 2023). Wealth’s engineering partner, FLSmidth (see press release of August 9, 2022)
is drafting development plans with an exclusive focus on DLE for the Ollagüe Project.
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.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
Wealth Minerals Ltd. - 3 - July 18, 2023
NR23-08 – Continued
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 contain s 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 inc luding, 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 ex pectation 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 tho se 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
its projected growth, to raise the necessary capital or to be fully able to implement its business s trategies, 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.