WML.V · 2025-04-23 12:00:00

Wealth Minerals Provides Update on Kuska Permitting

Permits & Approvals

#1570 - 200 Burrard Street, Vancouver, British Columbia, Canada, V6C 3L6

Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com

NR25-05 April 23, 2025

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: Wealth Minerals Ltd. (the “Company” or

“Wealth”) – (TSXV: WML; OTCQ B: WMLLF; SSE: WMLCL; FSE: EJZN) announces that its initial

application for its Kuska lithium project to receive a special lithium operation contract (“CEOL”) by the

State of Chile has been declined under the Fast-Track permitting policy announced on September 30, 2024.

The Company is evaluating its alternatives for obtaining the CEOL, either by appealing through regular

channels to the recent resolution of the Ministry of Mining, or by applying for a CEOL under the regular

permitting procedures available to all lithium projects.

On September 30, 2024 the Government of Chile announced the Strategic Council of the Lithium and Salt

Flats Committee (“Strategic Council”) approved a first group of six locations for the development of lithium

projects in Chile (the “Fast-Tracked salars”), which included t he Ollagüe Salar, the location of Wealth’s

Kuska Project, to be prioritized to receive a special lithium operation contract (“CEOL”) by the State of

Chile. The decision was based on all six locations having favorable conditions for the feasibility of a lithium

operation (see press release of September 30, 2024). Subsequent to the September 30, 2024 announcement,

the Government of Chile set rules to any and all potential applicants for the Fast -Tracked salars’ CEOLs.

A key issue in the rules was the establishment of a “ referential Polygon”, an arbitrary coordinate area

overlain the salars , whereby the Strategic Council declared any Fast -Track applicant must have mining

concessions for no less than 80% of the territory within the Polygon. In the case of Kuska, Wealth was not

able to complete 80% of the Polygon with its mining concessions, despite the fact that it is the largest holder

of mining concessions in the Ollagüe area. Wealth management applied for the CEOL in good faith despite

this issue, under the assumption that the State permitting authorities would consider all factors, including

Wealth’s progress of the Kuska project to date plus the empowerment of the Quechua Indigenous

Community of Ollagüe with a 5% carried interest in Kuska (see press release of February 3, 2025), when

granting CEOLs.

The Company still has the opportunity to appeal within five business days to the resolution of the Fast Track

program and/or to apply for a CEOL in a regular process, outside the Fast -Track program announced in

September 30, 2024. Management is working with its advisors to execute the appropriate next steps.

Regarding the Fast-Track CEOL decline, Henk van Alphen, CEO of Wealth Minerals Ltd. commented: “It

is unfortunate that one of the several conditions established for the Fast Track mechanism opened for the

first group of six prioritized locations , was in the case of Ollagüe impossible to meet for Wealth or any

other potential participant. We maintain our options open and will follow the best alternatives we have in

front of us to qualify for a CEOL in due time and develop the Kuska project togethe r with the Indigenous

Quechua Community. Based on the technical work and the economic analyzes we have conducted for

Kuska, the project offers significant value, both economic and social, to all stakeholders, including not only

Wealth shareholders, but also the local community and the Chilean State. Thus, we remain committed to

move this project forward and expect that with the appropriate sense of urgency, things can move faster.”

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 SEDAR+) estimates 741,000 tons Lithium Carbonate

Wealth Minerals Ltd. - 2 - April 23, 2025

NR25-05 – Continued

#1570 - 200 Burrard Street, Vancouver, British Columbia, Canada, V6C 3L6

Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com

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 demonstrates a Pre-Tax NPV10% of US$1.65 bn and a 33% IRR.

The PEA was filed on SEDAR+ on February 16, 2024.

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

Facebook – https://www.facebook.com/WealthMineralsLtd

Linkedin – https://www.linkedin.com/company/wealth-minerals

Twitter – https://www.twitter.com/WealthMinerals

Wealth Minerals Ltd. - 3 - April 23, 2025

NR25-05 – Continued

#1570 - 200 Burrard Street, Vancouver, British Columbia, Canada, V6C 3L6

Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com

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 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.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with

respect to the Company’s mineral properties.

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