Wealth Minerals Ltd. (TSX-V: WML) (OTCQX: WMLLF) (SSE: WMLCL) (Frankfurt: EJZ), announces it has closed an initial tranche of their non-brokered private placement previously announced on March 22, 2019.  On April 11, 2019, a total of 3,960,911 units were issued under the Placement at a price of $0.40 per Unit for gross proceeds of $1,584,364.40.  Each Unit consists of one common share in the capital of the Company and one‑half of one common share purchase warrant, with each whole warrant  entitling the holder to acquire one additional Share at a price of $0.75 per Share for a period of up to two years, expiring on April 11, 2021.  In the event that the closing price of the Shares on the TSX Venture Exchange is at least $1.50 per Share for a period of 10 consecutive trading days commencing four months and one day after the closing of the Placement, the Company may accelerate the expiry date of the Warrants by providing notice to the shareholders thereof and, in such case, the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

All securities issued by the Company pursuant to the Placement will have a four month and one day hold period in Canada ending on August 12, 2019.  In connection with the Placement, the Company paid aggregate finder’s fees of 24,710 Units, which Units were issued to Canaccord Genuity Corp. and 53,865 Broker Warrants, which Broker Warrants issued to Canaccord Genuity Corp., Haywood Securities Inc. and BMO Nesbitt Burns, each Broker Warrant entitles the holder to purchase one common share at a price of $0.40 for one year.  The Units issued as finder’s fees have the same terms and conditions as the Units issued under the Placement, provided that the Warrants forming part of the Units issued as finder’s fees are non‑transferable.  The Company also paid an aggregate $11,620.00 in cash finder’s fees to Haywood Securities Inc. and BMO Nesbitt Burns.

The Company also reports that it is extending the final closing of the Placement to May 3, 2019.

The net proceeds from the Placement are intended to fund option payments on the Company’s mineral property options, costs for the review and assessment of potential lithium mineral property acquisitions in South America, exploration work on the Company’s existing mineral projects and for general and administrative expenses and working capital purposes.

None of the foregoing securities have been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements.  This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 and development of lithium projects in South America. To date, the Company has positioned itself to develop the Quisquiro Salar in Chile (the Trinity Project), as well as to work alongside existing producers in the prolific Atacama Salar, where the Company has a substantial licenses package. The Company has also positioned itself to play a role in asset consolidation in Chile with various lithium properties throughout the country.

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.