Wealth Minerals Ltd.

WML - TSX.V $1.64

Aguas Calientes Norte

The Puritama Project is located in the Salar de Aguas Calientes Norte (the “Project”), located in Region II, northern Chile.

Exploration concessions at the Salar de Aguas Calientes Norte cover an area of approximately 25km 2, subject to two option agreements between Wealth and the underlying owners.

Historical surface sampling of brines and springs on the Project was completed in 1993 and results are outlined fully in Table 1 below. Results in 1993 suggested a lithium concentration ranging up to 169 mg/l. This initial sampling is broadly in line with independent analysis published by signum BOX (June 2015), which suggests an expected lithium concentration of 205 mg/l to 290 mg/l. The exploration concessions are located 320km from the port of Antofagasta. Access to the Project is via Route 27, a highway located at the western edge of the claim block.

The Property has not yet been explored with modern lithium brine exploration methods and there has been insufficient exploration to define a lithium deposit. The initial program to be carried out by Wealth will consist of prospecting and sampling to determine the existence, grade, and distribution of lithium at the Property.

1993 Sampling Results, Puritama Project Area

Sample Medium K (mg/l) Li (mg/l) Mg (mg/l)
AC1-1 Hot Springs 185 33.0 159.0
AC1-4 Hot Spring 54 8.7 23.1
AC1-6 Lagoon 805 145.0 705.0
AC1-8 Test Pit 1180 169.0 501.0
AC1-11 Hot Spring 13 2.8 25.0

Acquisition Terms

Under the LOI announced April 27, 2016, Wealth has the right to acquire all of the right, title and interest of Minera MyMinerals Limitada, a private Chilean company (“MYM”) in and to an option agreement (“First Option Agreement”) between MYM and Virtud Minerals SpA, a private Chilean company (“VMS”). Under the First Option Agreement, MYM can acquire a 100% royalty-free interest in the Project by making the following payments to VMS:

Date Payment
Upon signing USD 150,000 (paid)
April 18, 2017 USD 500,000
April 18, 2018 USD 1,000,000
April 18, 2019 USD 1,000,000

Under the LOI announced June 22, 2016, Wealth has the right to acquire all of the right, title and interest of the balance of the Project from a private Chilean company in and to an option agreement (“Second Option Agreement”). Under the Second Option Agreement, Wealth can acquire a 100% royalty-free interest in the balance of the Project by making the following payments:

Date Shares to be issued
Upon signing 150,000
6 months after signing 250,000
12 months after signing 250,000
15 months after signing 350,000