Wealth Minerals Provides Corporate Update Closes Flow-Through Financing
Suite 2300 – 1177 West Hastings Street, Vancouver, BC Canada V6E 2K3
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
NR19-24 November 12, 2019
Wealth Minerals Provides Corporate Update
Closes Flow-Through Financing
FOR IMMEDIATE RELEASE....Vancouver, British Columbia: Wealth Mi nerals Ltd. (the
“Company” or “Wealth”) - (TSXV: WML; OTCQX: WMLLF; SSE: WMLCL; Frankfurt: EJZN),
provides a corporate update the status of its assets and the Co mpany’s corporate development, as
well as announces the closing of its recently announced flow-through financing (the “Offering”).
Henk van Alphen, Wealth’s CEO, stated, “I take this opportunity to reach out to all of our
stakeholders to provide an overview and update with respect to the assets and business activities
of our Company. The development of any major project, in our case the Atacama project, has many
moving parts that require coordination with one another in orde r for the project to progress. I am
very happy that we now have what we believe are the critical co mponents for advancing as a
serious lithium player in the sector, particularly at a time wh ere industry observers increasingly
see a lithium supply deficit looming on the horizon. Wealth is exceptionally well placed to
capitalize on this and, despite the recent civil unrest in Chile, we firmly believe that Chile remains
a premier mining jurisdiction. The country is deeply tied to the fortunes of the mining industry in
general and is well endowed with valuable mineral opportunities. We expect that the recent unrest
is likely to stimulate the government to be more efficient as it seeks to better the quality of life for
its citizens and make the country more attractive for foreign investment.”
Mr. van Alphen continued, “The team at Wealth is working dilige ntly to maximize opportunities
for the Company. Wealth Copper’s launch as a public company lis ted on the TSX Venture
Exchange (the “TSXV”) is progressing and expected to be imminen t, we are realizing value for
non-core assets such as the Yanamina gold project, and we have been tenacious in advancing the
Valsequillo silver project. There is a lot happening for Wealth , and given the Company’s recent
progress, I am confident that t he market will soon begin to tak e notice. I invite stakeholders to
listen to an interview that our P resident, Tim McCutcheon recen tly gave
(https://audioboom.com/posts/7416441-president-of-wealth-minerals-tim-mccutcheon-is-
featured-on-the-stock-day-podcast).”
Atacama Project
Wealth is currently working with Uranium One Group (“Uranium One”) to complete due diligence
in connection with the strategic memorandum of understanding (the “MOU”) entered into by the
Company with Uranium One (see press release of October 15, 2019 ). Significant due diligence
work has already been completed and both sides have identified specific steps required to
successfully close the transaction contemplated by the MOU. Ma nagement believes that the
involvement of Uranium One is one of the last important steps in the long-awaited push to advance
the Atacama project, as Uranium O ne would be a large, financial ly capable partner with the
expertise required to advance the operational side of the project.
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Uranium One’s sorption technolog y and operational experience is e x p e c t e d t o a i d W e a l t h i n
meeting stakeholders’ expectations regarding the sustainable development of the Atacama project.
The technology allows for specifi c planning regarding what the Atacama project operation can
look like and, thus, allows for specific modeling of costs, geological work, and the ultimate above-
ground footprint of producing lithium. Wealth’s relationship wi th ENAMI (see press release
March 19, 2018) is also anticipated to be strengthened by the involvement of Uranium One at the
Atacama project, as both ENAMI and Uranium One are state-owned companies.
Valsequillo Silver Project
As announced on October 30, 2019, Wealth is working to advance its Valsequillo Silver project,
located in Chihuahua State, Mexico. Wealth has had an interest in the project for some time, but
only recently has surface access been established, allowing the Company to execute a long-planned
geological work program. The work program is expected to have phased stages that are anticipated
to have a short implementation time, be low cost, and provide a high impact due to numerous peer
group benchmarks and industry interest. Management believes the re is a deficit of silver projects
globally, and discussions have already begun with various partners to assist in development of the
Valsequillo project, while retaining financial upside potential for Wealth’s shareholders.
Wealth Copper
Wealth Copper Ltd. (“Wealth Copper” ), a subsidiary of the Compa ny, is in the process of
completing a business combination with Allante Resources Ltd. ( TSXV: ALL.H) and, subject to
TSXV and other required regulator y approvals, is anticipated to be a public company by the end
of 2019 (the “Going-Public Transaction”). Management has assist ed in raising capital market
awareness of Wealth Copper and se veral strategic portfolio investors have either taken an equity
position or are considering investment in Wealth Copper (see pr ess release September 27, 2019).
Management believes that the current macro backdrop of the copper industry will be very positive
for capital market interest in Wealth Copper once the Going-Public Transaction is complete.
Flow-Through Closing
On November 6, 2019, the Company closed the Offering, whereby i t issued a total of 750,000
flow-through common shares at an offering price of $0.40 per share for total proceeds of $300,000.
All securities issued by the Company pursuant to the Offering are subject to a four month and one
day hold period in Canada ending on March 7, 2020. Subject to TSXV approval, the Company has
agreed to pay finder’s fees (the “Finder’s Fee”) to GloRes Capi tal Inc. (Ritu Gupte), an arm’s
length finder, consisting of $18,000 cash and 45,000 non-transf erable finder’s warrants, each
warrant entitling the finder to purchase of one common share of the Company at a price of $0.40
per share for a period of one year.
The net proceeds from the Offering will be used to fund exploration and development of Wealth’s
Kootenay project in British Columbia.
Investor Outreach
In addition to Managements’ outreach activity for investors and other stakeholders, Wealth
announces that Henk van Alphen, CEO , will be visiting investors on the U.S. East Coast
throughout November, with stops in New York and Boston on Novem ber 18 – 20, as well as
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NR19-24 – Continued
participating in the Florida Capital Investment Conference on N ovember 21 – 23
(https://www.capitalevent.ca/conferences/florida-capital-investment-conference/).
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico, Peru and Chile. The
Company’s main focus is the acquisition and development of lithium projects in South America.
The Company opportunistically advances battery metal projects, namely copper and nickel, 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. Wea lth 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 Compa ny 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, Henk van Alphen or Tim McCutcheon
Phone: 604-331-0096 Ext. 3886 or 604-638-3886
E-mail: [email protected]
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 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, statements with respect to anticipated exploration program results from
exploration activities, the Company’s expectation that Wealth will enter into agreements to acquire interests in
additional mineral properties, the disc overy and delineation of mineral deposits/resources/reserves, the exercise of
options to acquire certain of the Company’s projects, the Company’s expectation that it will be able to complete the
transaction with Uranium One, the Company and Wealth Copper’s expectation that Wealth Copper will be able to
complete the Going-Public Transaction and the anticipated business plans and timing of future activities of the
Company are forward-looking statements . Although the Comp any 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: “believes”, “expects”, “antic ipates”, “intends”, “estim ates”, “plans”, “may”,
“should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar
expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be
Wealth Minerals Ltd. - 4 - November 12, 2019
NR19-24 – Continued
taken or achieved. In making the forward-looking statements in this news release, the Company has applied several
material assumptions, including without limitation, that market fundamentals will result in sustained lithium, copper,
cobalt, nickel and precious metals demand and prices, that the transaction contemplated by the MOU will close and
that Uranium One’s technology can be successfully applied to the Company’s lithium projects, that the Company and
Wealth Copper will receive the necessary permits, licenses a nd regulatory approvals to conduct their the future
business activities, including, with respect to the Going-P ublic Transaction and the payment of the Finder’s Fee, as
applicable, the availability of financing on suitable terms for the development, construction and continued operation
of the Company and Wealth Copper’s projects and the Company and Wealth Copper’s ability to comply with
environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company and Wealth Copper to differ materially from any future
results, performance or achievements expressed or implied by the forward-looking information. Such risks and other
factors include, among others, operating and technical difficulties in connection with mineral exploration and
development activities, actual results of exploration activities, the estimation or realization of mineral reserves and
mineral resources, the fact that certain of the Company’s and Wealth Copper’s property interests are options only
and there is no guarantee that such interests, if earned, will be certain, the timing and amount of estimated future
production, the costs of production, ca pital expenditures, the costs and timing of the development of new deposits,
requirements for additional cap ital, future prices of lithium, copper, c obalt, nickel and precious metals, changes in
general economic conditions, changes in the financial markets and in the demand and market price for commodities,
accidents, 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 policies
affecting mining operations, title disputes, the inability of the Company and Wealth Copper to obtain any necessary
permits, consents, approvals or authorizations, includi ng final acceptance by the TS XV of the Offering and the
payment of the Finder’s Fee, and TSXV approval of the pr oposed transaction with Uranium One, the acquisition of
additional mineral projects and the Going-Public Transaction, as applicable, the timing and possible outcome of any
pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks
and uncertainties disclosed in the Company’s Managements’ Discussion and Analysis and filed with the Canadian
Securities Authorities. 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.