Wealth Signs Non-Binding LOI To Acquire ‘Five Salars’ Project in Chile
Suite 2300 – 1177 West Hastings Street, Vancouver, BC Canada V6E 2K3
Tel 604.331.0096 Fax 604.408.7499 www.wealthminerals.com
NR17-11 April 18, 2017
Wealth Signs Non-Binding LOI To
Acquire ‘Five Salars’ Project in Chile
FOR IMMEDIATE RELEASE....Vanc ouver, British Columbia: Wealth Minerals Ltd. (the
“Company” or “Wealth”) - (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZN),
announces that it has executed a non-binding Letter of Intent (the “LOI”) to enter into an option
agreement giving it the right to acquire a 100% royalty-free interest in a portfolio of exploration
concessions, comprising approximately 10,500 hectares located in Regions I, II and II in northern
Chile (the “Concessions”). The Concessions are divided into five projects, namely: Ascotan,
Piedra Parada, Huasco, Lejia, and Siglia (collectively, the “Five Salars Project”).
Wealth Minerals intends to maintain its core focus on its flagship Atacama Project over the coming
12 to 24 months. While doing so, the Company has been acquiring an extensive position in other
potentially lithium-bearing salars throughout northern Chile. With this latest acquisition, Wealth’s
lithium project land position totals approximate ly 64,940 hectares, making Wealth one of the
largest holders of lithium brine projects in South America (Table 1 and Figure 1).
Henk van Alphen, Wealth’s CEO, commented “The acquisition of the Five Salars Project is a key
piece of our ongoing strategy at W ealth. Atacama represents our core project, but with past
acquisitions and now the Five Salars Project, we have a front row seat to multiple lithium
development projects in Chile. Consolidation of projects throughout South America is underway
and we have positioned the Company to be a decisive player in the Chilean lithium industry.
Table 1: Wealth Lithium Brine Projects
Project Salar Hectares
Atacama Project Atacama 46,000
Trinity Project
Pujsa 1,600
Calientes Norte 2,000
Quisquiro 2,400
Laguna Verde Laguna Verde 2,440
Five Salars Project
Ascotan 1,300
Piedra Parada 1,900
Lejia 400
Siglia 1,600
Huasco 5,300
Wealth Minerals Ltd. - 2 - April 18, 2017
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Figure 1: Location of Wealth Minerals Lithium Properties in northern Chile. The properties labelled
in yellow are existing properties. The properties labelled in red are new acquisitions comprising the
Five Salars Project and the subject properties of this news release.
The lithium-bearing salars in which Wealth currently has land positions includes the Salar de
Atacama, which is the only current lithium-producing salar in Chile, which accounts for up to 35%
of global lithium production. Servicio Naciona l de Geología y Minería (Sernageomin) compiled
a list of 14 salars with high pot ential to contain and produce lithium (2014) and Wealth has
Wealth Minerals Ltd. - 3 - April 18, 2017
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acquired lithium projects in three of these; Salars de Pujsa, Aguas Calientes Norte, and Quisquiro
(together the “Trinity Project”). With the acquisition of the Five Salars Project, Wealth is adding
more value to its property portfolio with a pack age of five strategic land positions, which are
described in more detail below.
Ascotan Project
The Concessions include approximately 1,300 hectares in the west portion of the Salar de Ascotan
(Figure 2) comprising the “Ascotan Project.” Por tions of the Salar de Ascotan were historically
exploited by Sociedad Quimica y Minera de Chile S.A. (“SQM”) for boron and has existing rail
and road infrastructure in place. There are no current mining operations in the salar. The Salar de
Ascotan is located 165km north of Wealth’s Atacama Project in the Salar de Atacama.
Figure 2: Wealth Minerals Ascotan Property, located in the northern portion of the Salar de Ascotan.
Wealth’s Ascotan Project is contiguous with Quiborax’s land position in the Salar de Ascotan.
Quiborax is a Chilean mining company with operati ons in the Salar de Surire, producing a range
of boron products including boric acid, boron granules, fertilizers and insecticides. Corporation
Nacional del Cobre de Chile (“Codelco”) has a land position located east of the Quiborax position.
Readers are cautioned that the Quiborax’s and Codelco’s projects are adjacent properties and that
Wealth Minerals has no interest in or right to acqui re any interest in any pa rt of either project.
Mineral deposits on adjacent or similar properties are not in any way indicative of mineral deposits
on Wealth’s Ascotan Project.
Wealth Minerals Ltd. - 4 - April 18, 2017
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Piedra Parada Project
The Concessions also include approximately 1,900 hectares in the Salar de Piedra Parada (Figure
3) comprising the Piedra Parada Project that is contiguous to the Salares 7 Project (“Seven Salars”),
a 50/50 joint venture between Talison Lithium Pty Ltd. (“Talison”) and a group of local Chilean
entrepreneurs.
Talison’s interest in the Seven Salars was acqui red by way of acquiring Salares Lithium Ltd. (a
TSX-V company) in 2010 for C$58.0 million. Talison’s two lithium assets are the Greenbushes
hard rock lithium mine in Western Australia and a 50% interest in the Seven Salars lithium brine
project. Sichuan Tianqi Lithiu m Industries Inc. (“Tianqi”) owns a controlling 51% interest in
Talison and is also the sole distributer of technical-grade lithium concentrate for Talison in China.
Readers are cautioned that the Seven Salars Project is an adjacent property and that Wealth has no
interest in or right to acquire any interest in a ny part of the Seven Salars Project and that mineral
deposits on adjacent or similar properties are no t in any way indicative of mineral deposits on
Wealth’s Piedra Parada Project.
Figure 3:Wealth Minerals Piedra Parada Project and the adjacent
property, which forms part of the Seven Salars Project
Huasco Project
The Concessions include approximately 5,300 h ectares in the Huasco Salar, comprising the
Huasco Project. Wealth’s land position is contig uous with claims held by notable major mining
companies including Freeport McMoRan Inc (“ Freeport”), BHP Billiton (“BHP”) and Codelco
(Figure 4).
Readers are cautioned that the properties he ld by Freeport, BHP and Codelco are adjacent
properties and that Wealth has no in terest in or right to acquire any interest in any part of the
properties and that mineral deposits on adjacent or similar properties are not in any way indicative
of mineral deposits on Wealth’s Huasco Project.
Wealth Minerals Ltd. - 5 - April 18, 2017
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Figure 4: Huasco Project showing adjacent properties
Siglia and Lejia Projects
The Concessions include approximately 1,600 hectares in the Siglia Salar and 400 hectares in the
Lejia Salar (Figure 1).
Option Terms
The terms of the LOI provide that, subject to the completion of certain conditions, including TSX
Venture Exchange acceptance and entry into a definitive option agreement, Wealth (or a subsidiary
of Wealth) would be granted the exclusive option to acquire a 100% royalty-free in terest in the
Concessions comprising the Five Salars Proj ect, free and clear of all liens, charges and
encumbrances from an arm’s length privat e Chilean company (the “Vendor”) by making the
following payments, and issuing the following fully paid and non-assessable Wealth common
shares to the Vendor:
Date Cash Payment (USD) Share Issuance
Upon Signing Definitive Option Agreement 1,000,000 1,000,000 shares
6 months after signing 1,000,000 1,000,000 shares
12 months after signing 1,000,000 1,000,000 shares
18 months after signing 1,000,000 1,000,000 shares
24 months after signing 2,000,000 2,000,000 shares
28 months after signing 2,000,000 2,000,000 shares
Total 8,000,000 8,000,000 shares
Wealth Minerals Ltd. - 6 - April 18, 2017
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About Wealth Minerals Ltd.
Wealth is a mineral resource company with inte rests in Canada, Mexico, Peru and Chile. The
Company’s main focus is the acquisition of lith ium projects in South America. To date, the
Company has positioned itself to develop the Aguas Calientes Norte, Pujsa and Quisquiro Salars
in Chile (the Trinity Project), as well as to work alongside existing pr oducers in the prolific
Atacama Salar, in addition to the Laguna Ve rde lithium project acquisition. The Company
continues to aggressively pursue new acquisitions in the region, the latest of which is the Five
Salars Project. Lithium market dynamics and a rapidly increasing metal price are the result of
profound structural issues with the industry meeting anticipa ted future demand. Wealth is
positioning itself to be a major beneficiary of this future mismatch of supply and demand. The
Company also maintains and continues to eval uate a portfolio of precious and base metal
exploration-stage projects.
For further details on the Company, reader s 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, without limitation, statements regarding the anticipated content, commencement, timing
and cost of exploration programs in respect of the Five Salars Project and otherwise, anticipated results from the
exploration activities, the discovery and delineation of mineral deposits/resources/reserves on the Five Salars Project,
the anticipated business plans and timing of future activities of the Company, the successful negotiation and execution
of a definitive option agreement for the Five Salars Project and the Company’s expectation that it will be able to enter
into agreements to acquire interests in additional mineral properties, 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, issues raised during the Company's due diligence on the Five Salars Project,
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, requireme nts for additional cap ital, future prices of lith ium and precious metals,
Wealth Minerals Ltd. - 7 - April 18, 2017
NR17-11 – Continued
changes in general economic conditions, changes in the financial markets and in the demand and market price for
commodities, 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 in ability of the Company to obtain any necessary permits,
consents or authorizations required, including TSX-V accept ance of any current or future property acquisitions or
financings and other planned activities, the timing and poss ible outcome of any pendi ng 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.
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