Mr. Hendrik van Alphen reports

WEALTH MINERALS' NEW SUBSIDIARY KUSKA MINERALS IS OFFICIALLY ESTABLISHED AND ITS BOARD MEETS FOR THE FIRST TIME

Wealth Minerals Ltd. has completed the formation of its subsidiary Kuska Minerals SpA, in which it has partnered with the Quechua Indigenous Community of Ollague to further advance the development of the Kuska lithium project in the Salar de Ollague, Antofagasta region, Chile (see news release dated May 27, 2025).

Along with the formation of the new company, its board of directors was established and held its first meeting. The board is composed of Hendrik van Alphen, Marcelo Awad, Francisco Lepeley, Stephen Foot and Victor Nina Huanca. The latter is the representative designated by the Ollague Community, exercising its right to appoint a member of the Kuska Minerals board.

In its first meeting, the board of directors agreed on certain operating rules and elected Mr. Awad as chairman. Additionally, the progress of the Kuska project was discussed, as well as all the upcoming tasks the company will undertake. In this regard, the company reports that, according to publicly available information, the Ministry of Mining is leading an indigenous consultation process for Ollague and a small number of other locations, where it has decided to prioritize the granting of special lithium operating contracts (CEOLs) as a precondition for granting such contracts. In the case of Kuska Minerals, the company hopes to have a CEOL in the near term, in order to complete the second exploration campaign and initiate the prefeasibility study and, in parallel, the environmental impact assessment.

Regarding the formation of the Kuska Minerals board of directors, Mr. van Alphen, Wealth's chief executive officer and Kuska Minerals' board member, stated: "We are very pleased to see the JV with the Quechua Indigenous Community of Ollague become a reality and to share the new board with Victor Nina. Since our arrival in the Ollague territory more than five years ago, we have been planning this joint venture, which will allow us to develop the lithium project with the highest standards of participation and transparency, thus ensuring that the community directly benefits from the project in several ways."

Meanwhile, Victor Nina Huanca, president of the Quechua Indigenous Community of Ollague and new director of Kuska Minerals, said: "Not only are we making history by being the first mining project or operation in Chile to integrate the community into its property, but this association format and my participation on the board of directors will allow us to ensure that the project is carried out with due respect and care for the environment of our territory, always keeping in mind the principles of our Cosmovision. Our community supports the execution of this project and hopes that the required permits, including the CEOL, are granted in a timely manner."

About the Kuska project

The Kuska project is located on 10,200 hectares in the Salar de Ollague area, Antofagasta region, Chile. Wealth Minerals began developing the project in 2019 and has completed two exploration campaigns to date, which also led to the publication of an initial resource estimate ("Estimated Lithium Resources Ollague Project" published on SEDAR+ on Jan. 13, 2023) under Canadian National Instrument 43-101 standards. The study estimates indicated resources of 741,000 tonnes of lithium carbonate equivalent (LCE) with an average concentration of 175 mg/L (milligrams per litre), in addition to inferred resources of 701,000 tonnes of LCE with an average grade of 185 mg/L. Additionally, the company has advanced the study of various direct lithium extraction (DLE) technologies and published a preliminary economic assessment (PEA) in February, 2024, prepared by DRA Global Ltd., which yielded very attractive profitability values (IRR (internal rate of return) of 33 per cent and an NPV (net present value) at 10-per-cent discount of $1.65-billion (U.S.), pretax in both cases) for a 20,000-tonne LCE per year project with a 20-year mine life. In September, 2024, the Chilean government announced that Ollague had been selected as part of an initial shortlist of salt flats being prioritized for CEOLs. It has opened application processes for this project, in which Wealth participated. From now on, the new company, Kuska Minerals, will take ownership and control of the project. The Kuska project has been an example of mining project development with community involvement, which will be reinforced with the formation of the new company.

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.