Mr. Hendrik van Alphen reports

WEALTH MINERALS ACQUIRES ADDITIONAL GROUND AT KUSKA PROJECT, OLLAGUE SALAR

Wealth Minerals Ltd. has, via claim, acquired 2,500 hectares of new licence area adjacent to the Kuska project in the Ollague salar in Chile. Although, to date, these new licences have not been investigated for lithium, lithium brine resource methodology puts this new ground within statistically relevant distance to existing drill and data points. This new ground is not included in the resource estimate of the Kuska project preliminary economic assessment (PEA) (see press release of Jan. 4, 2024).

Hendrik van Alphen, chief executive officer of Wealth Minerals, said: "This new land positions further strengthens our development plans for the Kuska project and brings our total licence holdings in the Ollague salar to 10,500 hectares. We strive to have the best possible lithium operation for Kuska and this acquisition is a part of that process."

Kuska project

The Kuska project is located in the Ollague salar, Antofogasta region, and is 100 per cent, royalty-free, owned by Wealth Minerals. The maiden resource report published by Wealth Minerals (see press release dated Jan. 17, 2023, and technical report of Jan. 13, 2023, entitled "Estimated lithium resources Ollague project," posted on SEDAR+) estimates a 741,000 tons lithium carbonate equivalent (LCE) indicated resources grading 175 milligrams per litre (mg/L) (plus 701,000 tons LCE inferred resources grading 185 mg/L) with an average indicated lithium grade of 175 mg/L. On Jan. 4, 2024, Wealth announced the key highlights of a PEA produced by DRA Global Ltd. The PEA describes the Kuska project development toward a 20,000-metric-tonne-per-annum (tpa) LCE output and an anticipated life of mine (LOM) of 20 years. The Kuska project in the PEA demonstrates a pre-tax net present value (NPV) at a 10-per-cent discount of $1.65-billion (U.S.) and a 33-per-cent internal rate of return (IRR). The PEA was filed on SEDAR+ on Feb. 16, 2024.

Qualified person

Michael J. Rosko, MS, PG, an independent consultant to Wealth Minerals and vice-president of E. L. Montgomery & Associates Inc., is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed the scientific information that forms the basis for this news release, and has approved the disclosure herein.

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.

We seek Safe Harbor.