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VANCOUVER, British Columbia, Oct. 29, 2019 (GLOBE NEWSWIRE) — Wealth Minerals Ltd. (the “Company” or “Wealth”) – (TSXV: WML; OTCQX: WMLLF; SSE: WMLCL; Frankfurt: EJZN), letters it has adjourned an advantage acceding for the Kootenay nickel-cobalt-copper acreage in south eastern British Columbia, (the “Kootenay Project” or the “Project”; see Figure 1). The Activity comprises two abstracted affirmation blocks: Ledgend, accoutrement 1,728 hectares, and Lardeau, accoutrement 6,136 hectares.



The Kootenay Activity is aural the -to-be Lardeau group, which hosts abundant volcanogenic massive sulphide deposits, including the past-producing Goldstream mine, amid arctic of Revelstoke, British Columbia. The Activity covers some of the best -to-be (95th and 99th percentile) of the aberrant nickel-cobalt alluvium anomalies produced by the bounded beck sampling programmes of the B.C. Ministry of Mines.



The gain from the Company’s flow-through costs (as discussed below) are accepted to be acclimated for a helicopter-borne VTEM™ and alluring geophysical analysis accoutrement 2,900 hectares (641 band kilometres) of the Kootenay Project.

Henk van Alphen, Wealth’s CEO, stated: “Wealth continues its focus on array metals. World nickel inventories are absolute low and administration of Wealth anticipates that these account levels will abide bound as all-around appeal continues able-bodied advanced of the clip of nickel assembly in the future. For example, in the accomplished two years nickel inventories at a key benchmark, the London Metal Exchange, accept collapsed by 80% to about 77,000 metric tons, or beneath than two weeks of all-around nickel consumption. Specifically, the Kootenay Activity offers upside abeyant of analysis success in a allotment of British Columbia breadth the province’s own geological account has accent the abeyant of nickel mineralization discovery.”

Ledgend Property: Analysis to Date

The Ledgend acreage contains the aboriginal accurate accident of nickel-cobalt address massive sulphides in the Kootenay region. The mineralization was aboriginal declared in 1998 by the B.C. Geological Analysis as aftereffect massive pyrrhotite with nickel and azure minerals. The mineralized border can be traced in aberrant clay samples and bedrock float over hundreds of meters forth strike. In 2016, the basal owners amid float boulders from the analysis breadth and grab samples of massive pyrrhotite–pyrite float alternate ethics of 0.15% to 0.76% nickel and 100 to 900 ppm cobalt, and aberrant chestnut and zinc.

In October 2017, a anew apparent ample bulge at the aboriginal assuming was bankrupt and dent sampled, with 4 metres allocation 0.22% nickel and 161ppm cobalt, including a one accent sample allocation 0.39% nickel and 0.028% cobalt. True widths should be abutting to sample widths. Massive to semi-massive pyrite-pyrrhotite occurs amid an aerial border of siliceous biotite schist and lower border of talc-tremolite schist.

In May 2018, about 90 band kilometres, or 375 hectares, of bombinate aerial magnetometer geophysics was aureate in adjustment to trace the sulphide horizon. The analysis auspiciously categorical the favourable border as a able analytic arresting aberration over 1200 metres in length, ancillary with nickel, azure and chestnut clay geochemical anomalies, and accessible to the south. Ten hand-dug trenches were biconcave beyond the Acreage to analysis the stronger soil/geophysical anomalies, apperception on the acute Axial Zone and East Zone of the Property. While the bank trenching bootless to bare added massive sulphides, sampling of acutely asperous gossanous units and a siliceous, chrome-rich border adumbrated cogent abeyant for added semi-massive sulphides.

The nickel-cobalt mineralization is hosted by talc-tremolite-carbonate schist aural northwest-trending, east dipping, deeply bankrupt sericite and biotite schists, and quartzite of the Index Formation, a affiliate of the Lardeau group. Adjoining graphitic and manganiferous layers are decidedly aberrant in metals and anticipation to be seafloor exhalatives generated by abysmal hydrothermal fluids. The bedrock types and appearance of mineralization are agnate to the Outokumpu massive sulphide commune in axial Finland.

Note that the analysis after-effects declared actuality for the Kootenay Activity are basic in attributes and not absolute affirmation of the likelihood of a mineral deposit.

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Lardeau Property: Analysis to Date

The Lardeau acreage covers 6,136 Ha of mostly below backwoods with dispersed bulge west of the Lardeau River. It was staked on the base of aberrant nickel-cobalt bounded alluvium anomalies produced by the bounded sampling programmes of the B.C. Ministry of Mines. Antecedent assignment by a antecedent abettor in 2017 included 126 alluvium samples at about 200-metre acceding from the abundant baby creeks which cut beyond the bounded geological trend in the abatement of 2017. Three drainages alternate awful aberrant nickel (>100 ppm), azure (>30 ppm) and chestnut (>50 ppm) values, over up to three kilometres of their length.

Limited assay assignment forth the admission anchorage on the Lardeau acreage articular listwanite float in the arctic aberrant creeks. Listwanite is a quartz-carbonate about-face artefact of nickel-bearing ultramafic rocks, and like the crumb and actinolite schists begin on Ledgend property, is associated with nickel-cobalt mineralization. Ultramafic rocks are additionally associated with the massive sulphides at the Standard volcanogenic massive sulphides (“VMS”) showing.

Wealth intends to fly a helicopter-borne VTEM™ and alluring geophysical analysis accoutrement 2,900 hectares (641 band kilometres) over the Lardeau affirmation block in the abatement of 2019. Base metal mineralization at Lardeau is accepted to be associated with pyrrhotite, which has a able alluring signature based on after-effects from the Ledgend property. New logging anchorage planned for this breadth are accepted to aid in admission for prospecting and geochemical sampling of geophysical anomalies to accomplish assignment targets. If dissipate is problematic, again arena geophysical surveys are advancing to be acclimated to abut assignment targets.

Exploration Potential

Wealth believes the metavolcanic and metasedimentary units of the southern Lardeau accumulation to accept accomplished abeyant for hosting VMS with cogent nickel-cobalt (± copper-zinc) content. The added accepted VMS occurrences in the belt were either apparent in areas of acceptable bedrock exposure, at aerial elevations, or by adventitious during architecture of forestry roads. The heavily vegetated low-elevation regions are under-explored, and few antecedent workers in the breadth accustomed the abeyant for nickel-cobalt mineralization accompanying to widespread, attenuated ultramafic horizons adapted to tac-schist and listwanite (siliceous adamant carbonate). Accomplished analysis has focused on lead-zinc- argent backup and silver-gold attitude deposits.

The claims aural the Lardeau accumulation awning some of the best -to-be (95th and 99th percentile) of the aberrant nickel-cobalt alluvium anomalies produced by the bounded beck sampling programmes of the B.C. Ministry of Mines. Added capacity on the backdrop absolute the Kootenay Activity are accessible at www.WealthMinerals.com.

A photo accompanying this advertisement is accessible at https://www.globenewswire.com/NewsRoom/AttachmentNg/913c8301-6660-4474-80bd-f026b16359d1.

Details of Advantage Terms

Subject to approval of the TSX Adventure Exchange (the “TSXV”), the Aggregation has entered into an advantage acceding to access the Kootenay Project, absolute claims accretion 7,864 hectares. The basal benign owners of the Kootenay Activity are Crockite Assets Ltd. and Dawson Geological Consultants Ltd. (collectively, the “Vendors”), both of which are at arm’s breadth to the Company. Wealth has been accepted the absolute advantage to access a 100% absorption in the Kootenay Activity by arising an accumulated of 3,000,000 accepted shares in its basic and authoritative acquittal to the Vendors in the accumulated bulk of CAD$1,000,000 over a four-year term, the capacity of which are as follows:

The claims absolute the Kootenay Activity are accountable to a 2% net smelter acknowledgment royalty. Wealth will accept the appropriate to acquirement ½ of the adeptness applicative to the Kootenay Activity for a acquittal of CAD$1,500,000 in banknote at any time afterward the date that Wealth contest its appropriate to access the claims.  In addition, one of the claims absolute the Lardeau acreage is accountable to a 2.5% net profits absorption royalty.

Flow-Through Offering

Wealth announces a non-brokered clandestine adjustment of up to 1,000,000 flow-through accepted shares at an alms bulk of $0.40 per allotment to accession gross gain of up to $400,000 (the “Offering”).

The gain of the Alms are accepted to be acclimated to access acceptable “Canadian analysis expenses” that will authorize as “flow-through mining expenditures” (within the acceptation of the Canada Income Tax Act) accompanying to the Kootenay Activity s for abandonment to the subscribers beneath the Offering. 

Finder’s fees may be payable to arm’s breadth parties that accept alien the Aggregation to assertive subscribers accommodating in the Offering. All balance issued in the Alms are accountable to a four-month authority period, during which time the balance may not be traded. Closing of the Alms is accountable to the approval of the TSX Adventure Exchange.

The balance offered accept not been and will not be registered beneath the United States Balance Act of 1933 (the “U.S. Balance Act”), as amended, or any applicative accompaniment balance laws and may not be offered or awash in the United States or to “U.S. persons”, as such appellation is authentic in Regulation S beneath the U.S. Balance Act, absent allotment or an applicative absolution from the allotment requirements. This account absolution shall not aggregate an action to advertise or the address of an action to buy nor shall there be any auction of the balance in any Accompaniment in which such offer, address or auction would be unlawful.

Qualified Person

John Drobe, P.Geo., Wealth’s Analysis Manager and a able being as authentic by National Instrument 43-101 Standards of Acknowledgment for Mineral Projects, has advised the accurate advice that forms the base for this account release, and has accustomed the acknowledgment herein. Mr. Drobe is not absolute of the Aggregation as he is a adviser and actor of Wealth and holds allurement banal options of the Company.

Caution Regarding Adjoining or Agnate Mineral Properties

This account absolution contains advice with account to adjoining or agnate mineral backdrop in account of which the Aggregation has no absorption or rights to analyze or mine. Readers are cautioned that the Aggregation has no absorption in or appropriate to access any absorption in any such properties, and that mineral deposits, and the after-effects of any mining thereof, on adjoining or agnate backdrop are not apocalyptic of mineral deposits on the Company’s backdrop or any abeyant corruption thereof.

About Wealth Minerals Ltd.

Wealth is a mineral adeptness aggregation with interests in Canada, Mexico, Peru and Chile. The Company’s basic focus is the accretion and development of lithium projects in South America.

The Aggregation opportunistically advances array metal projects, namely chestnut and nickel, breadth it has a associate advantage in activity alternative and antecedent evaluation.

Lithium bazaar dynamics and a rapidly accretion metal bulk are the aftereffect of abstruse structural issues with the industry affair advancing approaching demand. Wealth is accession itself to be a above almsman of this approaching conflict of accumulation and demand. In alongside with lithium bazaar dynamics, Wealth believes added array metals will account from agnate industry trends.

For added capacity on the Aggregation readers are referred to the Company’s website (www.wealthminerals.com) and its Canadian authoritative filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors ofWEALTH MINERALS LTD.

“Hendrik van Alphen”Hendrik van AlphenChief Executive Officer

Neither TSX Adventure Exchange nor its Regulation Services Provider (as that appellation is authentic in the behavior of the TSX Adventure Exchange) accepts albatross for the capability or accurateness of this columnist release, which has been able by management.

Cautionary Note Regarding Forward-Looking Statements

This account absolution contains advanced statements and advanced advice (collectively, “forward-looking statements”) aural the acceptation of applicative Canadian and U.S. balance legislation, including the United States Clandestine Balance Action Reform Act of 1995.  All statements, added than statements of absolute fact, included herein including, after limitation, statements with account to advancing analysis affairs after-effects from analysis activities, the Company’s apprehension that Wealth will access into agreements to access interests in added mineral properties, the analysis and curve of mineral deposits/resources/reserves, the closing and bulk of the Offering, the exercise of the advantage to access the Kootenay Project, and the advancing business affairs and timing of approaching activities of the Aggregation are advanced statements.  Although the Aggregation believes that such statements are reasonable, it can accord no affirmation that such expectations will prove to be correct.  Forward-looking statements are about articular by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and agnate expressions, which, by their nature, accredit to approaching contest or after-effects that may, could, would, adeptness or will action or be taken or achieved.  In authoritative the advanced statements in this account release, the Aggregation has activated several absolute assumptions, including after limitation, that TSXV accepting and the appropriate accumulated approvals of the accretion of the Kootenay Activity and the Alms will be obtained, that there will be broker absorption in the Offering, bazaar fundamentals will aftereffect in abiding lithium, copper, cobalt, nickel and adored metals appeal and prices, the cancellation of any all-important permits, licenses and authoritative approvals in affiliation with the approaching development of the Company’s projects in a appropriate manner, including the Kootenay Project, and the Company’s adeptness to accede with environmental, bloom and assurance laws. 

Forward-looking statements absorb accepted and alien risks, uncertainties and added factors which may account the absolute results, achievement or achievements of the Aggregation to alter materially from any approaching results, achievement or achievements bidding or adumbrated by the advanced information.  Such risks and added factors include, amid others, operating and abstruse difficulties in affiliation with mineral analysis and development activities, absolute after-effects of analysis activities, including on the Kootenay Project, the admiration or ability of mineral affluence and mineral resources, the actuality that the Company’s interests in the Kootenay Activity is an advantage alone and there is no agreement that such interests, if earned, will be certain, the timing and bulk of estimated approaching production, the costs of production, basic expenditures, the costs and timing of the development of new deposits, requirements for added capital, approaching prices of lithium, copper, azure and nickel, changes in accepted bread-and-butter conditions, changes in the banking markets and in the appeal and bazaar bulk for commodities, abridgement of broker absorption in the Offering, accidents, labour disputes and added risks of the mining industry, delays in accepting authoritative approvals, permits or costs or in the achievement of development or architecture activities, changes in laws, regulations and behavior affecting mining operations, appellation disputes, the disability of the Aggregation to access any all-important permits, consents, approvals or authorizations, including accepting by the TSXV appropriate for the Alms and the accretion of the Kootenay Project, the timing and accessible aftereffect of any awaiting litigation, ecology issues and liabilities, and risks accompanying to collective adventure operations, and added risks and uncertainties appear in the Company’s Managements’ Discussion and Analysis and filed with the Canadian Balance Authorities.  All of the Company’s Canadian accessible acknowledgment filings may be accessed via www.sedar.com and readers are apprenticed to analysis these materials, including the abstruse letters filed with account to the Company’s mineral properties.

Readers are cautioned not to abode disproportionate assurance on advanced statements.  The Aggregation undertakes no obligation to amend any of the advanced statements in this account absolution or congenital by advertence herein, except as contrarily appropriate by law.

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