Wealth Provides Partnership Update
08 Abril 2020 - 7:00AM
Wealth Minerals Ltd. (the “Company” or “Wealth”) - (TSXV: WML;
OTCQX: WMLLF; SSE: WMLCL; Frankfurt: EJZN), announces an update
regarding the Company’s relationship with state-owned National
Mining Company of Chile (“ENAMI”).
On March 19, 2018 Wealth Minerals signed a
strategic alliance agreement (the “Agreement”) with ENAMI, whereby
the parties agreed to form a partnership (the “JV”) to develop and
commercialize the Company’s project in the Salar de Atacama (see
press release of March 19, 2018). The Agreement provided that the
parties would have 24-months to enter into a definitive agreement
that will govern the formation and operation of the JV. The
Agreement’s 24-month period to form a JV has now expired. The
Board of Directors of ENAMI took the decision to let the Agreement
lapse due to pending Chilean legislation regarding regulations for
lithium production, taxation and various deregulation steps.
Wealth’s CEO, Henk Van Alphen, said, “I note
that in mid-2019 the Chilean government announced legislative steps
to make the regulatory regime for lithium similar to that for gold
and copper, which does not require any special state arrangements.
ENAMI has left the door open for cooperation and we will continue
to bring in all stakeholders – financial, technological, state
actors and indigenous groups – for the advancement of our lithium
projects.”
About Wealth Minerals Ltd.
Wealth is a mineral resource company with
interests in Canada, Mexico and Chile. The Company’s main focus is
the acquisition and development of lithium projects in South
America.
The Company opportunistically advances battery
metal projects, namely copper and nickel, where it has a peer
advantage in project selection and initial evaluation.
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. In parallel with lithium market dynamics, Wealth
believes other battery metals will benefit from similar industry
trends.
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
ofWEALTH MINERALS LTD.
“Hendrik van Alphen”Hendrik van AlphenChief
Executive Officer
For further information, please contact:Marla
Ritchie, Henk van Alphen or Tim McCutcheon
Phone: 604-331-0096 Ext. 3886 or
604-638-3886E-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, anticipated exploration
program results from exploration activities, the Company’s
expectation that it will be able to enter into agreements to
acquire interests in additional mineral properties, the discovery
and delineation of mineral deposits/resources/reserves, the closing
and amount of the Placement, 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. The Company cautions investors that any forward-looking
statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from
those in forward-looking statements as a result of 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, lack of
investor interest in the Placement, 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-V, required for the Placement, the timing and
possible outcome of any pending litigation, environmental issues
and liabilities, and risks related to joint venture operations, and
other risks and uncertainties disclosed in the Company’s latest
interim Management 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.
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