VANCOUVER, British Columbia–(Newsfile Corp. – April 24, 2023)- Wealth Minerals Limited (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (“Company” or “Wealth”) is a new Chilean company on the lithium industry announced last Friday by Gabriel Boric. I believe in policy.The Chilean president is an important step towards developing a lithium asset in Chile and a major factor in how the global lithium industry will play out for decades. To produce lithium, we are developing the wholly-owned Ollagüe and Atacama Projects, a combined licensing package of over 50,000 hectares in size (“Atacama Project” and “Ollagüe Project”, collectively referred to as “Projects”). see for www.wealthminerals.com).
Wealth CEO Hendrik Van Alphen said: Ambiguity over government policy. No doubt, the announcement will be noticed by multiple lithium consumers around the world who have so far been reluctant to enter Chile as a strategic partner with developers like Wealth Note Chile’s enormous lithium potential. ¨
For seven years, we have been in dialogue with the previous two governments and have gotten off to a false start many times to reach this point of clarity with the Borik government. President Boric has articulated a clear policy that companies like Wealth will work with government agencies to advance lithium projects in a responsible manner, benefiting both private owners and public stakeholders. I was. The main points of the new policy are:
- Initially, Chile’s state-owned copper mining company, CODELCO or ENAMI, will serve as the national partner in the 51/49% ownership structure of the public-private partnership to develop lithium projects.
- A new national lithium company will be established to be the future partner or sole developer of future lithium projects.
- The existing operations in Atacama Salah (i.e. those by Sociedad Kimica y Minera de Chile and Albemarle Corporation) will have to negotiate a new operating contract when their current contracts with state-owned developer CORFO expire (SQM 2030, Albemarle expires in 2043).
- An explicit ban on all solar evaporative capture methods for future projects.
- Government Guidance on Indigenous and Local Community Involvement in Lithium Project Development.
Regarding wealth specifically to the above points:
- Wealth has strong relationships with CODELCO and ENAMI and believes they are well positioned to be cooperative partners. As for the Atacama project, his Codelco expertise in large scale projects in this type of business environment will be beneficial to us. With regard to the Ollagüe project, CODELCO owns approximately 4,600 hectares adjacent to Wealth’s 8,200 hectares of land, with clear development synergies available in partnership.
- The new national lithium company, which also has downstream value-adding goals, could make Chile a hub for all aspects of lithium production and use, from lithium extraction to the manufacture of complex chemicals to the manufacture of final battery products. increase. This can open up new business opportunities for wealth.
- Wealth’s Management has always believed that the development of projects using solar evaporation could not start. Wealth was a first mover on the non-use of solar evaporation, as evidenced by his MOU in 2019 with Uranium One, which specifically called for his DLE (Direct Lithium Extraction) technology (October 2019 (See press release dated 15th). Additionally, Ollagüe’s cooperation agreement with the indigenous Quechua community only specifically mentions the use of DLE (see press release dated March 28, 2022).
- Wealth has always acted as a good corporate citizen in the communities in which it operates and has maintained an open dialogue with indigenous peoples at Project Salar. Having government guidance on how businesses and indigenous peoples interact is a welcome development away from the stopgap process of the past.
We have a long and successful history of working and negotiating with Chilean government agencies and communities. Now, with clear government policy, management plans to accelerate outreach to successfully close the partnership deal.
Management Investor Outreach Trip – Europe
Wealth will be at the German Gold Messe on May 5th and 6th at The Westin Grand Frankfurt. A member of the Wealth Management team will be at the conference throughout the day, and on May 5th he will also be present at 3:30 CET.th to an audience of European investors. Investors can register to attend at: https://deutschegoldmesse.online/investor-registration/.
Wealth Management will also participate in the 121 Mining Investment Summit in London on May 9th.th and 10th 133 Houndsditch, at the London Hall. For more information, see: https://www.weare121.com/121mininginvestment-london/.
About Wealth Minerals
Wealth is a mineral resources company with interests in Canada and Chile. The Company’s focus is on the acquisition and development of lithium projects in South America.
We are opportunistically pursuing battery metal projects that have advantages over our peers in project selection and initial evaluation. The lithium market dynamics and rapidly rising metal prices are the result of significant structural challenges for the industry to meet anticipated future demand. Wealth will be the main beneficiary of this future supply and demand mismatch. Alongside lithium market dynamics, Wealth believes other battery metals will benefit from similar industry trends.
For more information about our readers, please visit our website (www.wealthminerals.com) and SEDAR can be found at: www.sedar.com.
On behalf of the Board of Directors
Wealth Minerals Co., Ltd.
“Hendrik Van Alphen”
Hendrik Van Alphen
chief executive officer
For more information, please contact:
Mara Richie, Michael Pound, Henk Van Alphen
Phone: 604-331-0096 or 604-638-3886
For all IR-related inquiries, please contact the following.
John Rebiakis
Liviakis Financial Communications Co., Ltd.
Phone: 415-389-4670
For all public relations inquiries, please contact:
Nancy Thompson
Volticom Inc.
Office: 212-532-2208 | Mobile: 917-371-4053
follow us:
Facebook – https://www.facebook.com/Wealth Minerals Ltd
Link in – https://www.linkedin.com/company/wealth-minerals
twitter – https://www.twitter.com/WealthMinerals
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this press release made by the Administrator.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and US securities laws (collectively, “forward-looking statements”). All statements other than statements of historical fact contained herein include the anticipated content, commencement, timing and cost of an exploration program, anticipated results of an exploration program, discoveries and descriptions of deposits/resources/reserves; Our expectation that we will be able to enter into agreements to acquire additional mineral project interests and the timing of our anticipated business plans and future activities are forward-looking statements. While we believe such statements to be reasonable, there can be no assurance that such expectations will prove correct. Forward-looking statements are generally identified by the following words: believe, expect, predict, intend, estimate, assume and similar expressions or, by their nature, predict future events. to mention. The Company advises investors that forward-looking statements made by the Company are not guarantees of future results or performance and that actual results may differ materially from the forward-looking statements as a result of a variety of factors. be warned. Financial market conditions for our stock securities, general commodity market conditions, fluctuations in the nature, quality and quantity of mineral deposits discovered, fluctuations in market prices for mineral products we may produce; planned activities; the inability of the company to obtain the necessary permits, consents or approvals for its planned activities, to raise the necessary capital or its business strategy; In order to fully enable the execution of the Company’s financial statements and other risks and uncertainties, the Company’s most recent interim management discussions and analyzes have been disclosed and filed with certain Canadian securities commissions. All of our Canadian public disclosure documents can be accessed by: www.sedar.com Readers are encouraged to review these materials, including technical reports submitted regarding our mineral properties.
