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ORIGINAL: Wealth Receives Key Document from Chilean Environmental Agency Regarding Work at the Atacama Project

2019-08-15 08:00 ET - News Release

VANCOUVER, British Columbia, Aug. 15, 2019 (GLOBE NEWSWIRE) -- Wealth Minerals Ltd. (the “Company” or “Wealth”) - (TSXV: WML; OTCQX: WMLLF; SSE: WMLCL; Frankfurt: EJZN), announces it has received from the Chilean Environmental Agency an initial work program review affidavit, known as a Pertinencia (the “Pertinencia”). The Pertinencia is a key document as part of the stakeholder inclusion process for the Company’s development of the Atacama Project. While not specifically a drilling permit, the Pertinencia is evidence that the government regulatory bodies have reviewed the exploration plans of Wealth and concluded, based on the information presented, that the program does not require either an Environmental Impact Declaration or an Environmental Impact Study for the completion of the exploration works. A specific drill permit is not required by the Company to work on the Atacama Project. The receipt of the Pertinencia is a major milestone in Wealth’s outreach efforts with local communities near the Atacama Project, who stand to benefit together with the Company in the development of the northern part of the Atacama salar.

Henk Van Alphen, Wealth’s CEO, states: “We now have the Pertinencia, and the way is open for the exploration of our Atacama Project beyond initial geophysical work. It also is a sign of the government’s inclusion in the development process, as both our team and the regulatory bodies put significant work into the review and dialog behind the issuance of the document. I would also like to mention that Chile is a mining friendly and stable jurisdiction, and for large projects such as ours (Atacama Project), this stability is the bedrock of long-term smooth operations and asset success. Wealth continues to work with potential development partners and technology providers to ensure the Atacama gets developed using the best the industry has to offer.”

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 lithium projects in South America. To date, the Company has positioned itself to develop the Atacama Project alongside existing producers in the prolific Atacama region, where the Company has a substantial licenses package. The Company has also 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. Wealth is positioning itself to be a 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 Company 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
E-mail: info@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 news release.

https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aWML-2797…
 
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