Wealth Minerals – Annual Filings Update

VANCOUVER, British Columbia, March 30, 2020 (GLOBE NEWSWIRE) -- Wealth Minerals Ltd. (the “Company” or “Wealth”) - (TSXV: WML; OTCQX: WMLLF; SSE: WMLCL; Frankfurt: EJZN), is providing an update on the status of the filing of its annual financial statements and accompanying management’s discussion and analysis, and related CEO and CFO certifications for the financial year ended November 30, 2019 (collectively “the Annual Filings”), which were required to be filed by today under National Instrument 51-102.

On March 18, 2020, the Canadian Securities Administrators (“CSA”) announced that they will provide issuers with a 45-day filing extension for filings required on or before June 1, 2020 to allow issuers the time needed to focus on the many other business and financial reporting implications of COVID-19.  Wealth will rely on this exemption with respect to the Annual Filings in accordance with BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements.

The Company is continuing to work diligently and expeditiously with its auditors to file the Annual Filings on or around April 9, 2020 and no later than April 17, 2020.  In the interim, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company confirms that since the filings of its interim unaudited consolidated financial statements for the nine months ended August 31, 2019, there have been no material business developments other than those disclosed through news releases.

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. 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.