Wealth Minerals' Participation in Successful Consortium License Permitting Bid

Rhea-AI Summary

Wealth Minerals Ltd. (WMLLF) has announced its participation in a successful Consortium bid for a CEOL (Special Lithium Operating Contract) application to develop the Quillagua Este Salar lithium project in Chile's Antofagasta Region. The Consortium qualified for the fast-track process by meeting key criteria: controlling over 80% of the applicable area, demonstrating mining experience, and showing financial capacity. Wealth holds a 3% stake in the Consortium and will provide strategic advice based on its Chilean operations experience. The next steps involve Indigenous consultations, state negotiations, and obtaining a Presidential decree. CEO Henk van Alphen highlighted that this success demonstrates the navigability of Chile's regulatory system and government support for private lithium projects. The project's proximity to Wealth's Kuska project (120 km northeast) is seen as strategically beneficial.

Positive

• Successful CEOL application approval demonstrates ability to navigate Chilean regulatory system
• Project location is strategically positioned 120 km from company's Kuska project
• Consortium meets all key qualification criteria including 80% polygon control
• Demonstrates Chilean government support for private lithium projects

Negative

• Company holds only a minimal 3% stake in the Consortium
• Quillagua Este Salar project lacks established resource estimates and feasibility study
• Multiple regulatory steps still required including Indigenous consultations and Presidential decree

Vancouver, British Columbia--(Newsfile Corp. - June 5, 2025) - Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") announces that a Consortium to develop the Quillagua Este Salar in the Antofagasta Region, Chile, of which Wealth is a member, has successfully submitted a CEOL (Special Lithium Operating Contract) application under the fast-track process announced by the Chilean Government in September 2024 (see press release of September 30, 2024) and expanded in December 2024. The application was admitted by the Chile licensing authorities due to the application Consortium: having more than 80% of the applicable polygon, demonstrating relevant mining experience, and demonstrating financial capacity to fund a mining project. For reference about the CEOL fast-track process, please see press release of April 23, 2025. Next steps, as per the CEOL process, are the conclusion of Indigenous consultations, negotiations with the State organs as to specific operating terms and a Presidential decree establishing the CEOL based on the application.

Wealth participated with three other local partners in a joint bid (the "Consortium") to extract lithium from the Quillagua Este Salar and is to provide strategic advice and know-how to the Consortium from its long operating experience in Chile. Wealth has a 3% stake in the Consortium. The CEOL application calls for lithium production from the Quillagua Este Salar, although presently the Quillagua Este Salar lithium project of the Consortium does not have an established resource or feasibility study.

Regarding the Consortium's success, Henk van Alphen, CEO of Wealth Minerals Ltd., said, "While Wealth's stake in this endeavor is modest, this news does show that the Chilean regulatory regime can be successfully navigated, while also demonstrating that the Chilean authorities support the development of new lithium projects fully privately owned. Our success working with a group to make this CEOL application further underscores our commitment to permitting our Kuska project, which is only 120 km away to the northeast of the Quillagua Este Salar."

About Wealth Minerals Ltd.

Wealth is a mineral resource company with interests in Canada and Chile. The Company's focus is the acquisition and development of lithium projects in South America.

The Company opportunistically advances battery metal projects 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.

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.sedarplus.ca.

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, Michael Pound or Henk van Alphen
Phone: 604-331-0096 or 604-638-3886

For all Investor Relations inquiries, please contact:
John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670

For all Public Relations inquiries, please contact:
Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053

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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 press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. 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, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral projects, 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, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, 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.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254618

FAQ

What is Wealth Minerals' (WMLLF) stake in the Quillagua Este Salar lithium project?

Wealth Minerals holds a 3% stake in the Consortium that submitted the successful CEOL application for the Quillagua Este Salar lithium project.

What are the next steps for the CEOL application process in Chile?

The next steps include completing Indigenous consultations, negotiating with State organs regarding specific operating terms, and obtaining a Presidential decree establishing the CEOL.

How far is the Quillagua Este Salar project from Wealth Minerals' Kuska project?

The Quillagua Este Salar project is located 120 km southwest of Wealth Minerals' Kuska project.

What criteria did the Consortium meet for the CEOL fast-track process?

The Consortium qualified by having control of more than 80% of the applicable polygon, demonstrating relevant mining experience, and showing financial capacity to fund a mining project.

Does the Quillagua Este Salar project have an established resource estimate?

No, the Quillagua Este Salar lithium project currently does not have an established resource or feasibility study.