FOR IMMEDIATE RELEASE….Vancouver, British Columbia: Wealth Minerals Ltd. (the “Company” or “Wealth”) – (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZ), provides an end of year shareholder update.
“2016 has been a transformative year for Wealth; a year during which the Company has emerged as a significant player in the lithium space in Chile. Wealth has acquired multiple high-quality lithium brine projects in Chile including its flagship Atacama Project, and now controls more than 55,000 hectares in total. These acquisitions have been supported by $11.6 million of equity financing during the year,” stated Henk van Alphen, Wealth’s CEO. “Positive lithium market conditions throughout 2016 have corroborated Wealth’s business decision. Stock performance has reflected the change in commodity focus and successful business development as the Company moved from a $6 million market capitalization in January to a peak of approximately $98 million in September. Wealth’s team has been introducing the Company to all the corresponding authorities in Chile linked with the Mining Sector and also companies involved in the mining and lithium business, such as The Mining Council, various think tanks and lithium producers.”
Mr. van Alphen continued, “Strengthening the management team was a key focus in 2016, with Marcelo Awad being appointed Executive Director of Wealth Chile and Tim McCutcheon being appointed President of Wealth. As 2016 draws to a close, I would like to thank all of our stakeholders for their support throughout the year and to wish everyone happy holidays and a very prosperous 2017.”
Mr. McCutcheon, Wealth’s President, added, “Wealth still has its sights set on additional acquisitions in Chile, but the focus in 2017 will be on exploration and moving our projects forward. Shareholders can look forward to brine sampling, geophysics and most importantly drilling, initially focussed on the Atacama Project. We look forward to providing regular updates throughout 2017.”
Atacama Project – The Atacama Project is Wealth’s flagship lithium brine project. The Company is finalizing plans for Phase I exploration at the project. Exploration will begin with transient electromagnetic and magneto-telluric geophysical surveys, before commencing an initial drill program of up to 2,000 meters. Initial work will be carried out under a Pertinencia, a permit in Chile under which low-impact exploration activities can be carried out.
Laguna Verde Project – In Q1 2017, Wealth will initially focus on upgrading the historical inferred resource at the Laguna Verde Project to a current NI 43-101 resource estimate. The project was previously the subject of a NI 43-101 Technical Report in 2010.
Trinity Project – The Trinity Project consists of three neighbouring salars. The Company plans to undertake initial surface brine sampling at the three salars (Aguas Calientes Norte, Pujsa and Quisquiro Salars) comprising the project.
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 of lithium 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 producers in the prolific Atacama Salar. The Company continues to aggressively pursue new acquisitions in the region. 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.
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:
Phone: 604-331-0096 Ext. 3886 or 604-638-3886
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, 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, 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, issues raised during the Company’s due diligence, 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, 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, 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 necessary permits, consents or authorizations required, including TSX-V acceptance, 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.