Wealth Minerals’ Ollagüe Salar Selected by Chilean Government to be Among the First Group of Six Salars Considered for Lithium Production Licenses
#1570 – 200 Burrard Street, Vancouver, British Columbia, Canada V6C 3L6
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
NR24-14 September 30, 2024
Wealth Minerals’ Ollagüe Salar Selected by Chilean Government
to be Among the First Group of Six Salars Considered for
Lithium Production Licenses
Vancouver, British Columbia – September 30 , 2024 – Wealth Minerals Ltd. (the “Company” or
“Wealth”) – (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; FSE: EJZN) announces the Company will
apply for a CEOL for the Kuska Project - located in the Ollagüe Salar.
The Government of Chile has announced today that the Strategic Council of the Lithium and Salt Flats
Committee (“Strategic Council”) has approved, for private investors, a first group of locations for the
development of lithium projects in Chile. The Ollagüe Salar is one of these six locations that have been
selected, based on its conditions for the feasibility of a lithium operation. A ccording to the Government’s
publication, the six locations selected in this first group share key conditions, such as having strong interest
from developing parties as collected in the recent RFI process conducted by the Ministry of Mining,
favorable geological characteristics and sound environmental conditions for the awarding of a Special
Lithium Opera tion Contract (“CEOL” ) and the execution of lithium projects . The Strategic Council
publication also indicated that the Mining Ministry would only grant one CEOL in each location.
The Government has announced that the award of CEOLs will be a competitive tender process. However,
the first six locations announced by the Strategic Council will be subject to a simplified CEOL allocation
process, which will consider the experience of the applicant in any part of the lithium production value
chain, its financial strength to develop the proposed project and its holding of at least 80% of the mining
concession in the respective area (referred to in Government material as a “ polygon” which has yet to be
defined). More specific rules for this simplified process will be published by the Mining Ministry in the
upcoming weeks so that applicants can submit CEOL requests before the end of the year. In parallel, the
Mining Ministry will run indigenous consultation processes in the six selected locations and provide certain
CEOL draft templates to the applicant, which could be signed if both the Government and the applicant are
in agreement as soon as the respective indigenous consultation is completed.
Additionally, the Government announced that a second group of prioritized locations will be announced
during the last quarter of this year, further indication of the desire to stimulate lithium project development
in the country.
Henk van Alphen, CEO of Wealth, comments “The whole team is very excited to see Ollagüe as one of the
six locations selected by the Government of Chile in this first wave of CEOL grants. This confirms the
quality and potential of our Kuska project. The Company has already performed much work to prepare for
a CEOL application, and now with the Strategic Council news w e will be able to submit an excellent
package of information to obtain a CEOL for Kuska.”
Francisco Lepeley, CEO of Wealth Minerals Chile , also commented “This is an important step in the
implementation of the National Lithium Strategy and is well oriented to increase lithium production in
Chile. Chile has the most competitive conditions in the world for lithium production, and our Kuska project
has the potential to be within the first and second quartile of the cash cost curve globally. In short, it is a
great project in a great area. On the ground here in Chile, the team has conducted significant technical work,
Wealth Minerals Ltd. - 2 - September 30, 2024
NR24-14 – Continued
#1570 – 200 Burrard Street, Vancouver, British Columbia, Canada V6C 3L6
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
both in exploration and in direct lithium extraction technology reviews, to satisfy the most discerning
project reviewer. Also, we have built a close relationship with the local indigenous community on the basis
of trust, transparency and win-win project approach.”
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
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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
Wealth Minerals Ltd. - 3 - September 30, 2024
NR24-14 – Continued
#1570 – 200 Burrard Street, Vancouver, British Columbia, Canada V6C 3L6
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
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.