Wealth Provides Partnership Update

Suite 2300 – 1177 West Hastings Street, Vancouver, BC Canada V6E 2K3

Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com

NR20-07 April 8, 2020

Wealth Provides Partnership Update

FOR IMMEDIATE RELEASE....Vancouver, British Columbia: Wealth Mi nerals Ltd. (the

“Company” or “Wealth”) - (TSXV: WML; OTCQX: WMLLF; SSE: WMLCL; Frankfurt: EJZN),

announces an update regarding the Company’s relationship with s tate-owned National Mining

Company of Chile (“ENAMI”).

On March 19, 2018 Wealth Minerals signed a strategic alliance agreement (the “Agreement”) with

ENAMI, whereby the parties agreed to form a partnership (the “JV”) to develop and commercialize

the Company’s project in the Salar de Atacama ( see press release of March 19, 2018 ). The

Agreement provided that the parties would have 24-months to ent er into a definitive agreement

that will govern the formation and operation of the JV. The Agreement’s 24-month period to form

a JV has now expired. The Board of Directors of ENAMI took the decision to let the Agreement

lapse due to pending Chilean legislation regarding regulations for lithium production, taxation and

various deregulation steps.

Wealth’s CEO, Henk Van Alphen, said, “I note that in mid-2019 t he Chilean government

announced legislative steps to make the regulatory regime for l ithium similar to that for gold and

copper, which does not require any special state arrangements. ENAMI has left the door open for

cooperation and we will continue to bring in all stakeholders – financial, technological, state actors

and indigenous groups – for the advancement of our lithium projects.”

About Wealth Minerals Ltd.

Wealth is a mineral resource company with interests in Canada, Mexico 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.

Wealth Minerals Ltd. - 2 - April 8, 2020

NR20-07 – Continued

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 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 Refo rm Act of 1995. All statements, other than statements of historical fact,

included herein including, without limitation, 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, the closing and amount of the

Placement, 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, operating and technical difficulties in connection

with mineral exploratio n 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, requirements for

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 the Placement, 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 to obtain any necessa ry permits, consen ts, approvals or

authorizations, including acceptance by the TSX-V, required for the Placement, 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 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.

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.