VANCOUVER , July 21, 2016 /CNW/ – Wealth Minerals Ltd. (the “Company” or “Wealth”) – (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZ), announces that its Chilean subsidiary has entered into a formal option agreement giving it the right to acquire a 100% royalty-free interest in the Pujsa 1 to 7 exploration concessions located in the Pujsa Salar (the “Property”), Region II, northern Chile (see NR16-14, June 16 , 2016).  The Company also provides a corporate update regarding the proposed acquisition of Li3 Energy, as announced February 1, 2016 .

Pujsa Salar

The concessions comprising the Property cover an area of approximately 1,600 hectares located 83km from the town of San Pedro de Atacama.  Access to the Property is via Route 27, a highway located to the north of the claim block, and then south by gravel road to the Property.

Wealth Chile and the property owner have now executed the formal option agreement, which has been submitted for registration with the Mining Registry of Calama.  The initial USD 200,000 payment was made upon the execution of the formal documents.  The remaining payments are as follows:

The transaction was accepted for filing by the TSX Venture Exchange on June 24 , 2016.  Wealth is now in the process of formulating an initial program of work consisting of prospecting and sampling to determine the existence, nature, extent and distribution of lithium at the Property.

Wealth continues to have active and ongoing discussions with respect to the acquisition of interests in a number of prospective salars in Chile , as well as discussions with a number of potential industry partners.

Update on Li3 Energy Transaction

Wealth’s team continues to conduct due diligence on Li3 Energy and its underlying assets and continues to be in close dialog with Li3 Energy’s management.  The recently announced transaction between Li3’s local Chilean partner, Minera Salar Blanco , and an Australian company contemplates the addition of a new partner on the operating side of the Salar de Maricunga project and a much-needed cash injection to move the project forward.  A transaction of this type was expected and while it does not impact the LOI between Li3 and Wealth, it does effect the interest of Li3 in that project.  As a result, Wealth will now be conducting a review of the terms of the proposed transaction and evaluating its effect on the initially proposed terms of the transaction with Li3.

About Wealth Minerals Ltd.

Wealth is a mineral resource company with interests in Canada , Mexico , Peru and Chile.  The Company’s main focus is the acquisition of lithium projects in South America .  To date the company has positioned itself to develop the Calientes, Pujsa and Maricunga Salars in Chile .  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.  The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.

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