Wealth Options Harry Project to United Lithium Corp.
Suite 2300 – 1177 West Hastings Street, Vancouver, BC Canada V6E 2K3
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
NR20-15 November 2, 2020
WEALTH OPTIONS HARRY PROJECT TO UNITED LITHIUM CORP.
FOR IMMEDIATE RELEASE....Vancouver, British Columbia: Wealth Mi nerals Ltd.
(the “Company” or “Wealth”) - (TSXV: WML; OTCQX: WMLLF; SSE: WM LCL; Frankfurt:
EJZN), announces that they have entered into an earn-in agreeme nt (the “ Agreement”) with
United Lithium Corp. (“ULTH”) pursuant to which ULTH has been g ranted the exclusive option
to acquire, in multiple phases, an up to seventy percent (70%) interest in the Harry Project (the
“Harry Project”). The Company may also acquire up to one-hundred percent (100%) interest in
of the Vapor Project (the “ Vapor Project” and together with the Harry Project, the “ Projects”)
which is approximately 4,200 hectares of area located north near the Chile-Bolivia border.
Michael Dehn, CEO of ULTH, commented: “The announcement of this option agreement is a key
milestone in our business plan. The team looks forward to furth er developing both properties as
they are located in the highly sought-after Lithium Triangle.”
Key Terms of the Agreement
ULTH can earn an initial fifty-one percent (51%) ownership interest in the Vapor Project
and a seventy percent (70%) inte rest in the Harry Project by: m aking a cash payment to
Wealth in the aggregate amount of $200,000; making certain share payments to Wealth in
the aggregate amount of 1,250,000 co mmon shares in the capital of the ULTH; funding
expenditures of $1,250,000 towards development of the Properties over the next two years;
and maintaining the Project’s mineral licenses in good standing (Phase 1).
Subject to completion of Phase 1 by the ULTH, ULTH can earn an additional forty-nine
percent (49%) in the Vapor Project by: making certain share pay ments to Wealth in the
aggregate amount of 250,000 common shares in the capital of the ULTH; funding
expenditures of $1,000,000 towards development of the Vapor Property; and maintaining
the Vapor Project’s mineral licenses in good standing (Phase 2).
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 lith ium projects in South America.
To date, the Company has positioned itself to develop the Quisq uiro salar in Chile (the Trinity
project), as well as to work al ongside existing producers in the prolific Atacama salar, where the
Company has a substantial license s package. The Company has al so positioned itself to play a
role in asset consolidation in Chile with various lithium properties throughout the country.
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
Wealth Minerals Ltd. - 2 - November 2, 2020
NR20-15 – Continued
major beneficiary of this future mismatch of supply and demand. The Company also maintains
and continues to evaluate a portfolio of precious and base metal exploration-stage projects.
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
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 news release.
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, w ithout limitation, the receipt by the Company and the amount of the proceeds from the
Loans, anticipated exploration program results from exploration activities, the Company’s expectation that it will be
able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of
mineral deposits/resources/reserves, future cash and share payments pursuant to the Atacama Option to Purchase
Agreement, 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”, “inten d”, “estimate”, “postulate” and simila r expressions, or are those, which,
by their nature, refer to future events. 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 demand and prices, th e receipt of any necessary permits, li censes and regulatory approvals in
connection with the future development of the Company’s Chilean lithium projects in a timely manner, the availability
of financing on suitable terms for the development, constr uction and continued operation of the Company projects,
and the Company’s ability to comply with environmental, health and safety laws.
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, 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 timing and amount of estimated future production, the costs of production, capital expenditures,
the costs and timing of the development of new deposits, the fact that the Company’s interests in its mineral properties
(including the Atacama Project and Trinity project) are options only and there is no guarantee that the Company’s
interests in same, if earned, will be certain, requirements fo r additional capital, future prices of lithium, changes in
general economic conditions, changes in the financial markets and in the demand and market price for commodities,
lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays
in obtaining governmental approvals, permits or financing or in the comple tion of development or construction
activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the
Company to obtain any necessary permits, consents, approvals or authorizations (including acceptance by the TSXV
for the Loans, the Bonus Warrants and the Acquisitions), the timing and possible outcome of any pending litigation,
Wealth Minerals Ltd. - 3 - November 2, 2020
NR20-15 – Continued
environmental issues and liabilities, and risks related to joint venture operations, 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 Cana dian 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.