Mr. Hendrik van Alphen reports

WEALTH MINERALS ANNOUNCES GEOPHYSICAL SURVEY RESULTS AT KUSKA PROJECT, OLLAGUE SALAR

Wealth Minerals Ltd. has released the analysis results of geophysical work in the Kuska project area. Wealth conducted in fourth quarter 2023 multiple magnetotelluric (MT) and coincident-loop transient electromagnetic (TEM) geophysical surveys, which delineated conductive features consistent with a porous media saturated with high-salinity fluids and is considered prospective for lithium-bearing brines at depth.

Hendrik van Alphen, chief executive officer, Wealth Minerals, said: "This analysis is a key part of our company's development of the Kuska project located within the Ollague salar. On the back of our successful preliminary economic assessment announced earlier this year, we acquired new licence ground to expand the Kuska project's footprint. This announced geophysical survey results show our new ground in the Ollague salar has the potential to increase the value of the Kuska project (see press release Feb. 27, 2024)."

The geophysical surveys were conducted by Southernrock Geophysics, and consisted of 10 survey lines with 283 TEM sites using a contiguous 250-square-metre coincident-loop configuration and 37 sites of MT spaced 500 m along three line-segments. Data were processed according to standard methodologies with 1-D inversion modelling providing compiled resistivity sections.

Geophysical survey results

The transient electromagnetic (TEM) surveys identified highly conductive zones, which are interpreted to represent porous media with high-salinity fluids (potentially lithium-bearing brines) at depth. Multiple anomalies are identified within the survey area with several potential drill targets. Inversion modelling has defined a generalized three-layer geoelectric structure with an upper resistor, an intermediate conductive layer and an underlying moderately conductive environment. The upper resistive layer increases in thickness to over 200 m in the topographically elevated peripheries of the salar areas with the upper contact of the underlying low resistivity encountered at a consistent elevation of 3,600 to 3,650 masl (metres above sea level) throughout the surveyed area. The main zones of sub-one-ohm-metre resistivity are imaged in the eastern and southeastern areas of the survey.

On the basis of TEM data, line L2-4 represents the highest-priority target with the highest-tenor conductivity (lowest resistivity) suggesting potentially greater saturation and/or potentially higher salinity. The section clearly shows the geophysical anomaly, resistivities less than one ohm-m and previously shown to be geological formations with lithium-bearing brine (see press release Jan. 17, 2023, and technical report of Jan. 13, 2023, "Estimated Lithium resources Ollague Project" posted on SEDAR+), continues into the recently acquired mining claims (see press release Feb. 27, 2024) and appears to be open beyond the eastern end of the lines.

Based on the results of the geophysical surveys, further geophysics and initial drilling are warranted to investigate the south and eastern part of the recently acquired claims.

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.