Mr. Hendrik van Alphen reports

WEALTH SIGNS LOI TO ACQUIRE PURITAMA PROJECT SALAR DE AGUAS CALIENTES, CHILE

Wealth Minerals Ltd. has executed a letter of intent to acquire an option agreement giving it the right to acquire a 100-per-cent royalty-free interest in the Puritama 1 to Puritama 8 exploration concessions located in the Salar de Aguas Calientes, located in Region II, northern Chile.

"This acquisition is one of several potential acquisitions that Wealth management has been negotiating in the past weeks. The acquisition of this interest in the Salar de Aguas Calientes gives Wealth a real foothold in Chile, outside of the recently announced proposed transaction with Li3 in the Salar de Maricunga," stated Henk van Alphen, Wealth's president and chief executive officer. "Wealth's aim is to continue seeking quality acquisitions over the coming weeks."

Property details

The Salar de Atacama is currently the only salar in Chile which produces lithium. Chile's Sernageomin (Servicio Nacional de Geologia y Mineria) has published a list of 15 other high-potential Chilean salars, and the Aguas Calientes Norte salar is included in this list.

Exploration concessions at the Salar de Aguas Calientes cover an area of approximately 25 square kilometres with 20 square kilometres subject to the option agreement to be acquired by Wealth and the remaining four square kilometres held by Sociedad Quimica y Minera de Chile (SQM), which is the largest lithium producer in Chile. The exploration concessions are in the process of being constituted and have preferential rights over the area that they cover. Once constituted, they will be valid for two years and may be extended for an additional two years upon relinquishment of 50 per cent of the area. Wealth anticipates that the concessions will be finally issued within the next 60 days to 75 days.

Historical surface sampling of brines and springs on the property was completed in 1993, and results are outlined fully in the attached table. Results in 1993 suggested a lithium concentration ranging up to 169 milligrams per litre. This initial sampling is broadly in line with independent analysis published by signum BOX (June, 2015), which suggests an expected lithium concentration of 205 milligrams per litre to 290 milligrams per litre. The exploration concessions are located 320 kilometres from the port of Antofagasta. Access to the property is via Route 27, a highway located at the western edge of the claim block.

The company is treating the property as a greenfields exploration project. Although the limited earlier work noted here suggests that the property has potential to host a lithium deposit, the property has not, to the knowledge of the company, yet been explored with modern lithium brine exploration methods, and there has been insufficient exploration to define a lithium deposit, and it is therefore uncertain if further exploration will result in a lithium deposit being delineated on the property. Accordingly, the initial program to be carried out by the company will consist of a program of prospecting and sampling to determine the existence, nature, extent and distribution of lithium at the property.

    1993 SAMPLING RESULTS, PURITAMA PROJECT AREA

Sample       Medium   K (mg/L)   Li (mg/L)   Mg (mg/L)

AC1-1    Hot spring       185        33.0       159.0    
AC1-4    Hot spring        54         8.7        23.1     
AC1-6        Lagoon       805       145.0       705.0    
AC1-8      Test pit     1,180       169.0       501.0    
AC1-11   Hot spring        13         2.8        25.0      

Acquisition terms

Under the LOI, Wealth has the right to acquire all of the right, title and interest of Minera MyMinerals Ltda. (MYM), a private Chilean company, in and to an option agreement dated April 18, 2016, between MYM and Virtud Minerals SpA (VMS), a private Chilean company. Under the option agreement, MYM can acquire a 100-per-cent royalty-free interest in the project by making the payments shown in the attached table to VMS.

Date                           Payment
           
Upon signing     $150,000 (U.S.) (paid)
April 18, 2017          $500,000 (U.S.)      
April 18, 2018        $1,000,000 (U.S.)     
April 18, 2019        $1,000,000 (U.S.)     

Subject to satisfactory due diligence by Wealth, which will be completed within 60 days, Wealth and MYM will execute an assignment agreement whereby MYM will assign all of its rights under the option agreement in consideration of reimbursement of the $150,000 (U.S.) initial payment and issuance to MYM of 100,000 Wealth shares. There are no work commitments under the option agreement. VMS has agreed to provide continuing mining property consultancy services in order to secure the completion of the constitution process of the concessions comprising in the property, and keep them valid and in good standing throughout the option period for a monthly fee of $2,000 (U.S.).

The completion of the acquisition of an interest in the option agreement by Wealth is subject to the acceptance for filing thereof by the TSX Venture Exchange.

Qualified person

Keith J. Henderson, EurGeol, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release, and has approved the disclosure herein. Mr. Henderson is a consultant to Wealth, but does hold common shares and incentive stock options in the company.

We seek Safe Harbor.