Wealth Minerals Corporate Update

Continuing to Build Value

VANCOUVER, British Columbia, April 01, 2020 (GLOBE NEWSWIRE) -- Wealth Minerals Ltd. (the “Company” or “Wealth”) - (TSXV: WML; OTCQX: WMLLF; SSE: WMLCL; Frankfurt: EJZN), provides the public and its shareholders with a corporate update.

A Message from Wealth’s CEO:

“I write this message in order to reach out to all of our stakeholders during this difficult time. The team and management at Wealth continues to work tirelessly, although remotely, and remains optimistic that the Company will exit this current situation strong and with great promise. By providing this update, I trust it will give our stakeholders a better understanding of the tasks the Company has before it, as well as to provide a reminder of the work that has been completed by the Company to set up the next stage of its development” stated Henk van Alphen, CEO of Wealth.

Lithium Overview:

Wealth has been focused on the acquisition and development of premier lithium assets in Chile for the past four years. In that time, the Company has assembled a Chilean team of employees and consultants that are highly qualified to advance the selected lithium projects. Wealth previously acquired a large license position of 46,200 hectares in the Atacama salar, a project that is highly prospective and is the Company’s core lithium asset (the “Atacama Project”). To address in-country regulatory issues, and foster a strong state partnership, Wealth entered into an agreement to form a strategic alliance with the state-owned National Mining Company of Chile (“ENAMI”). Additionally, in order to optimize our lithium extraction technology and move towards sustainable and environmentally friendly future production with a strong operating partner, Wealth recently entered into an MOU (as defined below) with Uranium One Group (“Uranium One”), a global mining company.

Over the last two years, Wealth has conducted regular meetings and forums with the indigenous people located in the Atacama salar area, building trust and dialogue. On December 3, 2019, the Reuters news agency published an article on the Chilean lithium industry, wherein ENAMI’s Chairman, Baldo Prokuriça, who also serves as Mining Minister for Chile, “…told Reuters on a trip to the Atacama region [that] the government had asked state-owned copper giant CODELCO and smaller state miner National Mining Company, ENAMI, to forge ahead with lithium projects in the region.” In reference to additional local salar regions, Mr. Prokuriça also stated that “…if his company moved to exploit the [Aguilar region], it would look to tie up with Canadian-listed Wealth Minerals Ltd.”