Wealth Minerals Ltd (QB)【WMLLF】株式ニュース

Wealth Enters Strategic Alliance with the National Mining Company of Chile - ENAMI

VANCOUVER, British Columbia, March 19, 2018 (GLOBE NEWSWIRE) -- Wealth Minerals Ltd. (the “Company” or “Wealth”) - (TSXV:WML) (OTCQB:WMLLF) (SSE:WMLCL) (Frankfurt:EJZN) announces that it has entered into an agreement (the “Agreement”) with the fully state-owned National Mining Company of Chile (“ENAMI”), whereby the parties have agreed to form a strategic alliance to develop and commercialize the Company’s projects in the Salar de Atacama and Laguna Verde. The Agreement provides that the parties will have 24 months during which to study and assess the aforementioned properties and to form a partnership (the “JV”) for the exploration, development and mining thereof and for the marketing of the products from the projects. The Agreement contemplates that the JV will take the form of an incorporated joint venture company in which ENAMI will own 10% of the JV and have a 10% free-carried interest, while Wealth will own the remaining 90% of the JV. The Agreement provides that the parties will have 24 months to enter into a definitive agreement that will govern the formation and operation of the JV.

Hendrik van Alphen, Wealth’s CEO, stated “We are very happy to have ENAMI as a partner for developing our assets. Not only are we now able to draw upon ENAMI’s experience and knowledge for successfully mining and processing resources in Chile, we have gained a strong state partner that can help fulfill our goals of full scale development to achieve production of lithium and by-products in Chile. This will enable Wealth and ENAMI to meet the world’s growing demand for lithium and secure Chile’s position as a premier player in global lithium markets.”

Background

Under current Chilean law, and since January 1, 1979, lithium cannot be exploited in Chile by regular mining concessions. The Chilean Mining Code establishes that lithium is a strategic mineral and expressly provides that the exploitation of “non-concessible” mineral substances (which includes lithium) can only be performed by:

the Government of the Republic of Chile,
a Chilean state-owned company, or
by means of administrative concessions or special operation contracts that meet the requirements and conditions set forth by the President of the Republic of Chile for each such case.
While a few active licenses in Chile were granted before the current state regulations came into force, the lithium production associated with these licenses represents a small portion of the anticipated lithium supply. The Agreement provides Wealth, along with ENAMI, the ability to apply for the grant of the permits required to explore, develop, produce and export lithium in accordance with the terms of export quotas, in effect from time to time.

Lithium Mining Industry in Chile

Chile is the world’s second largest lithium producer and the largest producer of lithium extracted from high-quality and high-concentration brines, accounting for approximately 35% of the total global production representing 75,800t of lithium carbonate equivalent. Despite this significant footprint in the industry, lithium production in Chile comes exclusively from two operations in a claim owned by CORFO in the Atacama Salar. CORFO (Production Development Corporation), a government body responsible for regional development, has contracted production services to both Albemarle and Sociedad Química y Minera de Chile S.A. or “SQM”. Neither Albemarle nor SQM own the licenses through which they extract lithium, as both companies contract directly with CORFO and not the Chilean state1. As such, all contracts governing the relationship between CORFO, Albemarle and SQM are specific to their operations in the Atacama Salar and are not representative of the current regulatory regime governing the exploitation of resources from lithium licenses generally. In the past year, other companies have begun to enter the lithium space in Chile, most notably CODELCO (National Copper Corporation), Wealth and Lithium Power International, with projects in preliminary stages of development. Chile’s new President, Mr. Sebastián Piñera, and the incoming Minister of Mines, Mr. Baldo Prokurica, have publicly stated their support for Chile’s mining industry and their political platform of attracting foreign and domestic investment to Chile’s natural resource sector.

About ENAMI

ENAMI was established in the 1960s as a state company tasked with promoting the Chilean mining industry, by buying and processing the production of small and medium sized national mining companies. ENAMI is one of two state-owned companies in Chile involved in the mining industry, the other one being CODELCO.

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 Aguas Calientes Norte and Quisquiro Salars in Chile (the Trinity Project), as well as to work alongside existing producers in the prolific Atacama Salar. In addition to the Laguna Verde lithium project acquisition, the Company has also positioned itself to play a role in asset consolidation in Chile with the Five Salars project.

The Company is transitioning from asset acquisition to the development of its current high potential portfolio and, in connection therewith, has already invested more than a year on community engagement and geo-physics work related to its Chilean projects. Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues within 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.

For further details on the Company readers are referred to the Company’s website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of
WEALTH MINERALS LTD.

“Hendrik van Alphen”
Hendrik van Alphen
Chief Executive Officer

For further information, please contact: Marla Ritchie
Phone: 604-331-0096 Ext. 3886 or 604-638-3886
E-mail: info@wealthminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the Company’s expectation that it will be able to enter into a definitive JV agreement with ENAMI, anticipated exploration program results from exploration activities, the Company’s expectation that it will be able to obtain the necessary permits to exploit, develop, produce and export lithium, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained lithium demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s Chilean lithium projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company projects, and the Company’s ability to comply with environmental, health and safety laws.

Forward-looking statements by the Company are not guarantees of future results or performance, and actual results may differ materially from those in forward-looking statements as a result of risks and other various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations (including acceptance by the TSX Venture Exchange) required for the definitive JV agreement, the timing and possible outcome of any pending litigation, environmental issues and liabilities, risks related to joint venture operations, and other risks and uncertainties disclosed in the Company’s latest interim Management’s Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

1 CORFO is a government agency and not a state-owned company such as ENAMI or CODELCO.

Wealth Enters into Exclusive LOI to Negotiate Agreement to Acquire the Advanced-Stage Yanamina Gold Property, West-Central Peru
VANCOUVER, April 1, 2015 /CNW/ - Wealth Minerals Limited. ("Wealth" or the "Company") - (TSXV: WML; Frankfurt: EJZ), announces that it has entered into a letter of intent ("LOI") with Coronet Metals Inc. ("Coronet") to negotiate, on an exclusive basis, an agreement to acquire Coronet's Peruvian subsidiary, which subsidiary holds a 100% interest in the advanced stage Yanamina Gold Project, Peru ("Yanamina"). Yanamina consists of 5 mining concessions located in the Department of Ancash, Peru.

PROPOSED ACQUISITION

Pursuant to the LOI, it is proposed that Wealth will acquire Yanamina through acquisition of Coronet's Peruvian subsidiary, Coronet Metals Peru S.A.C. ("Coronet Peru"), in consideration of Wealth issuing 1,000,000 common shares to Coronet (as to 750,000 shares at closing and 250,000 shares six months later). In addition, Wealth would assume responsibility for Coronet Peru's outstanding debt in an amount of no more than USD 81,000, as well as Coronet's obligations with respect to certain future share issuances and payments to Migme Limited (formerly "Latin Gold Limited") ("LGL") and its subsidiary, Westmag Resources Limited ("WRL"), the former owner of Yanamina (including a 1% gross revenue royalty payable to WRL on all gold produced from Yanamina in excess of 200,000 ounces) relating to Coronet's purchase of Coronet Peru from LGL and WRL in 2011. Production from Yanamina is also subject to a 2% NSR in favour of Barrick Gold Corporation ("Barrick"), which can be purchased outright at any time prior to the commencement of construction for USD 200,000 cash.

Closing of the proposed acquisition is subject to the completion and execution of the appropriate formal documentation with Coronet and LGL/WRL and the acceptance for filing of the transaction by the TSX Venture Exchange on behalf of both Wealth and Coronet. There can be no assurance that the transaction will proceed as proposed or at all.

Wealth has commissioned a NI 43-101 technical report which will incorporate a resource estimate and Preliminary Economic Analysis for Yanamina and which it is anticipated will be completed in time to be filed with the TSX Venture Exchange to support the planned acquisition.

YANAMINA PROJECT

Yanamina is located in the Department of Ancash in northcentral Peru (Figure 1). The Ancash region is bordered by the La Libertad region on the north, the Huanuco and Pasco regions on the east, the Lima region on the south and the Pacific Ocean on the west. Yanamina is located approximately 16 kilometers east of the town of Caraz, which is located approximately 93 kilometres north of Huaraz, the largest city in the region with a population of 150,000 and the capital of Ancash. Huaraz is located approximately 400 kilometres north of Lima.

Yanamina is located on the prolific Ancash Fault Zone. Regionally, intense faulting associated with the Ancash Fault Zone has provided conduits for gold bearing hydrothermal solutions, giving rise to a number of gold occurrences and deposits in the region, from encouraging prospects to former producers and operating mines, including Barrick's formerly producing Pierina Gold Mine and its currently producing Alto Chicama/Lagunas Norte Gold Mine.

The mineralization at Yanamina is an advanced-stage gold deposit, which was originally explored by Arequipa Resources Ltd. ("Arequipa") in the early 1990s. Arequipa completed regional prospecting, rehabilitated several of the historic tunnels, drove three new adits and completed 62 diamond drill holes totaling 2,670 metres. In 2000, Barrick acquired Arequipa and thereby Yanamina. In 2006, LGL/WRL acquired an option to purchase 100% of Yanamina from Barrick, subsequently completing a program of channel sampling and 25 diamond drillholes totalling 1,468 metres. Yanamina was acquired by Coronet in 2011, which has not carried out any further exploration since that time.

COMMUNITY & FUTURE WORK

Yanamina is located partially within the buffer zone of the Huascaran National Park. The Company has been advised that mining operations in the buffer zone can be permitted within the current Peruvian legislative framework, subject to strict compliance with all required environmental standards, including extensive reclamation requirements. The Nueva California Mine, located within the buffer zone 17 km to the south of Yanamina, sets a useful precedent for mining activity in the buffer zone. Previous operators at Yanamina, Arequipa and LGL, were able to secure the issuance of required permits, drilling a total of 87 holes under separate drill permits.

An environmental impact study ("EIS") is a requirement of the exploration work permit application, and a community baseline report ("CBR") is a component of the EIS. Valid work permits for exploration activities at Yanamina were issued as recently as 2007 (expired in 2010). However, due to issues arising from activities apparently carried out by a subsidiary of a major energy company involving water extraction from a local reservoir/lake, the local community of Cruz de Mayo successfully opposed the issuance of a permit for further exploration work applied for by Coronet Peru (then owned by LGL/WRL) in 2010. Wealth believes that the issues arising from this event can be satisfactorily resolved, and that the local communities can be successfully involved in the process of moving the development of Yanamina forward.

Wealth's initial objective is to establish a long term Community Agreement with the Cruz de Mayo community and other surrounding communities that would be affected by operations at Yanamina in order to secure the necessary social license to be able to proceed with application for the required permits. The Company intends to allocate the required time and funding to carry out the work estimated to be necessary to secure the Community Agreement, carry out the EIS and complete the permit applications.

Following the issuance of the required permits, Wealth's initial focus would be to complete resource expansion and definition drilling at Yanamina. Much of the early drilling at Yanamina was focused on the upper zone and was too shallow to intersect the lower zone. Drillholes in the deposit average 61 metres in depth, although drillholes intersecting only the upper zone average only about 30 to 40 metres in depth. Future work will focus on infill drilling in the lower zone in the areas north and south of the known deposit before expansion drilling begins.

Qualified Person

Marian Myers, M.Sc., P.Geo., a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Ms Myers is not independent of the Company, as she is a shareholder and a consultant to the Company.

ABOUT WEALTH MINERALS LTD.

Wealth is an early stage mineral exploration company with listings on the TSX Venture and Frankfurt Stock Exchanges. The planned acquisition of the Yanamina Gold Project is consistent with Wealth's project acquisition policy requiring stable geopolitical project locations, low exploration risk, attractive grade, and potentially low capital requirements. While Wealth is not a development company, management insists that projects to be acquired have a reasonable potential for near-term production. The Company also intends to negotiate partnerships that might open up potential project development routes.

On Behalf of the Board of Directors of
WEALTH MINERALS LTD.

"Hendrik van Alphen"
Hendrik van Alphen
President & CEO

For further details on the Company readers are referred to the Company's web site (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.

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