Mr. Hendrik van Alphen reports

WEALTH APPOINTS TIM MCCUTCHEON AS PRESIDENT

Wealth Minerals Ltd. has appointed Timothy McCutcheon as president of the company, effective immediately. Henk van Alphen has resigned as president, but will remain as the chief executive officer.

"We are excited to welcome Tim into Wealth's executive management team as we lay the groundwork for Wealth's next phase of growth in the lithium space," stated Mr. van Alphen, Wealth's chief executive officer. "He brings many years of financial and administrative expertise that will be invaluable as the company grows."

Mr. McCutcheon commented: "I am extremely excited to join the Wealth's team and help move the company forward as it seeks to complete lithium project acquisitions. The lithium space is undergoing profound positive change, and Wealth is well positioned to capitalize on increasing demand and expanding applications for lithium."

Mr. McCutcheon

Mr. McCutcheon is a mining and finance professional with over 20 years of international business experience. He has led several mining development companies with assets in Russia, Slovakia and Ghana. Additionally, Mr. McCutcheon has served as an adviser to a wide range of natural resource companies, playing key roles in administration and capital market strategy.

Prior to moving to the mining sector, Mr. McCutcheon worked in multiple financial institutions such as Bear Stearns, Aton Capital and Pioneer Investments as an award-winning metals and mining sector analyst and as an investment banker. He also was a founder/partner of DBM Capital Partners Ltd., a leading boutique metals finance institution which managed the mining fund Sayan Investments Ltd., and advised multiple base- and precious-metal mining companies active in Europe and Asia. Mr. McCutcheon has a BA and MBA from Columbia University, New York, United States.

Non-brokered private placement

The company also announces that it has arranged a non-brokered private placement of five million common shares of the company at a price of 40 cents per share, for gross proceeds of up to $2-million. All shares issued in the placement will have a hold period in Canada of four months from the closing of the placement.

The net proceeds from the placement are intended to be used to finance the costs related to the continuing discussions with Li3 Energy Inc., pursuant to the letter of intent with Li3 announced on Feb. 1, 2016 (NR16-01), including to carry out and complete the required due diligence on Li3 and the Maricunga lithium project, for the review and assessment of additional potential lithium mineral property acquisitions in South America on which the company is actively negotiating and the preparation of related formal documentation for any such acquisition(s), for property payments and work programs on the company's existing mineral properties, and for general and administrative expenses and working capital.

Completion of the placement is subject to the acceptance for filing thereof by the TSX Venture Exchange.

Stock options

Pursuant to the company's 2004 incentive stock option plan, the company has granted incentive stock options to directors, officers, employees and consultants of the company and its affiliates to purchase up to an aggregate of 1.4 million common shares in the capital stock of the company. The options are exercisable on or before June 6, 2018, at a price of $1.05 per share.

We seek Safe Harbor.