Wealth Reports New Simplified Procedure for Assigning CEOL in Salar de Ollague
Wealth Minerals (OTCQB: WMLLF) announces a new simplified procedure for obtaining a Special Lithium Operating Contract (CEOL) in Chile's Salar de Ollague region. The Ministry of Mining has established key requirements including ownership of 80% or more mining concessions within the specified polygon, industry experience, and financial capacity.
The Company plans to participate through its subsidiary Kuska Minerals SpA, in which it holds a 95% stake, with the remaining 5% owned by the Quechua Indigenous Community of Ollague. The new procedure follows a successful Indigenous consultation process that resulted in modifications to exclude culturally significant areas from the contract zone.
Wealth Minerals (OTCQB: WMLLF) annuncia una nuova procedura semplificata per ottenere un Contratto di Operazione Speciale sul Litio (CEOL) nella regione Salar de Ollague in Cile. Il Ministero dell'Energia Mineraria ha stabilito requisiti chiave tra cui la proprietà dell'80% o più delle concessioni minerarie all'interno del poligono specificato, esperienza nel settore e capacità finanziaria.
L'azienda intende partecipare tramite la sua controllata Kuska Minerals SpA, in cui detiene una partecipazione del 95%, con il restante 5% assegnato alla Comunità Indígena Quechua di Ollague. La nuova procedura segue un processo di consultazione indigena di successo che ha portato a modifiche per escludere aree culturalmente significative dalla zona del contratto.
Wealth Minerals (OTCQB: WMLLF) anuncia un nuevo procedimiento simplificado para obtener un Contrato Especial de Operación de Litio (CEOL) en la región Salar de Ollague de Chile. El Ministerio de Minería ha establecido requisitos clave que incluyen la titularidad del 80% o más de las concesiones mineras dentro del polígono especificado, experiencia en la industria y capacidad financiera.
La empresa planea participar a través de su subsidiaria Kuska Minerals SpA, en la que posee un 95% de participación, y el restante 5% pertenece a la Comunidad Indígena Quechua de Ollague. El nuevo procedimiento sigue a un proceso exitoso de consulta indígena que resultó en modificaciones para excluir áreas culturalmente significativas de la zona del contrato.
Wealth Minerals (OTCQB: WMLLF)는 칠레 옐라게 염전(Salar de Ollague) 지역에서 특별 리튬 운영 계약(CEOL)을 얻기 위한 새로운 간소화 절차를 발표합니다. 광업부는 지정 다각형 내에서 광업 허가의 80% 이상 소유 등 핵심 요건을 확립했으며 업계 경험과 재무 능력을 포함합니다.
회사는 자회사인 Kuska Minerals SpA를 통해 참여할 계획이며, 이 자회사는 95%의 지분을 보유하고 있고 남은 5%는 Ollague의 케추아 원주민 공동체가 보유합니다. 신규 절차는 원주민 협의 과정을 성공적으로 거쳐 계약 구역에서 문화적 중요 지역을 제외하도록 수정된 결과에 따른 것입니다.
Wealth Minerals (OTCQB: WMLLF) annonce une nouvelle procédure simplifiée pour obtenir un Contrat d'Exploitation du Lithium Spécial (CEOL) dans la région Salar de Ollague au Chili. Le ministère des Mines a établi des exigences clés comprenant la possession de 80 % ou plus des concessions minières dans le polygone spécifié, l'expérience industrielle et la capacité financière.
La société prévoit de participer par l'intermédiaire de sa filiale Kuska Minerals SpA, dans laquelle elle détient une participation de 95 %, le reste étant détenu par la Communauté indigène Quechua d'Ollague. La nouvelle procédure fait suite à un processus de consultation indigène fructueux qui a entraîné des modifications visant à exclure les zones culturellement significatives de la zone du contrat.
Wealth Minerals (OTCQB: WMLLF) kündigt ein neues vereinfachtes Verfahren zur Erlangung eines Spezial-Lithium-Betriebsvertrags (CEOL) in der Salar de Ollague-Region in Chile an. Das Bergbauministerium hat wichtige Anforderungen festgelegt, darunter Eigentum an 80% oder mehr der Bergbaulizenzen innerhalb des genannten Polygons, Branchenerfahrung und finanzielle Leistungsfähigkeit.
Das Unternehmen plant, durch seine Tochtergesellschaft Kuska Minerals SpA teilzunehmen, in der es eine 95% Beteiligung hält, während die verbleibenden 5% der Quechua-Indigenen-Gemeinschaft von Ollague gehören. Das neue Verfahren folgt einem erfolgreichen indigenen Konsultationsprozess, der zu Änderungen geführt hat, um kulturell bedeutende Gebiete aus dem Vertragsgebiet auszuschließen.
Wealth Minerals (OTCQB: WMLLF) يعلن عن إجراء مبسط جديد للحصول على عقد تشغيلي ليثيوم خاص (CEOL) في منطقة Salar de Ollague بجمهورية تشيلي. حددت وزارة التعدين شروطاً رئيسية تشمل ملكية 80٪ أو أكثر من امتيازات المناجم ضمن المضلع المحدد، وخبرة صناعية، وقدرة مالية.
تخطط الشركة للمشاركة من خلال شركتها التابعة Kuska Minerals SpA، التي تملك فيها حصة 95%، بينما تمتلك المجتمع الأصلي Quechua في Ollague 5٪ المتبقية. يتبع الإجراء الجديد عملية استشاريّة أصلية ناجحة أفضت إلى تعديلات لاستبعاد المناطق ذات الأهمية الثقافية من منطقة العقد.
Wealth Minerals (OTCQB: WMLLF) 宣布在智利 Salar de Ollague 地区获得特种锂运营合同（CEOL）的简化新程序。矿业部已确立关键要求，包括 在指定多边形内拥有80%或以上的矿产开采权、行业经验和财务能力。
公司计划通过其子公司 Kuska Minerals SpA 参与，其持有 95% 的股权，其余5%由 Ollague 的 Quechua 原住民社区拥有。新程序是在一次成功的原住民协商过程中推进的，结果对合同区域内的文化重要区域进行了排除的修改。
- Strategic partnership with Quechua Indigenous Community through 95% ownership in Kuska Minerals SpA
- Company meets preliminary qualification for CEOL with established presence since 2019
- Simplified procedure potentially accelerates lithium project development timeline
- Project still requires completion of pre-feasibility study and environmental impact assessment
- Final CEOL approval not guaranteed despite meeting initial requirements
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2025) - Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") announces that on September 23, 2025, the Ministry of Mining reported that the Lithium and Salars Committee has resolved to open a new simplified procedure for the assignment of a Special Lithium Operating Contract ("CEOL") in the Salar de Ollagüe. According to the information, companies or consortia interested in entering into said CEOL with the State of Chile must have a percentage of mining concessions equivalent to or greater than
The ministerial authority stated that "in the dialogue phase of the CEOL's Indigenous consultation process for the Salar de Ollagüe, a unanimous agreement was reached to modify the polygonal vertices of the contract area proposed by the Ministry, excluding the areas of greatest cultural interest to Indigenous communities and the populated areas that were part of the polygon. Given the magnitude of this modification, the Ministry has decided to open a new procedure for those interested in this salt system, based on the conditions outlined in the first process, which concluded in December 2024."
In the Salar de Ollagüe territory, Wealth has the Kuska lithium project, which they have been developing since 2019. To this end, on May 23, 2025 (see news release dated May 27, 2025, statement "Wealth Minerals and the Quechua Indigenous Community of Ollagüe form Kuska Minerals Joint-Venture to develop the Kuska Project in the Salar de Ollagüe"), the Company established the subsidiary Kuska Minerals SpA ("Kuska Minerals"), in which it maintains
Pursuant to the Ministry of Mining's announcement, Hendrik "Henk" van Alphen, CEO of Wealth Minerals Ltd., stated, "The implementation of this simplified process for obtaining a CEOL at the Salar de Ollagüe is great news for Wealth and brings us one step closer to realizing our lithium project. We hope to meet all application requirements so that we can move forward as soon as possible with a pre-feasibility study and environmental impact assessment for the project."
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/267623
FAQ
What is the new CEOL procedure announced for Wealth Minerals (WMLLF) in Salar de Ollague?
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