Wealth Minerals Ltd. (TSX-V:WML) (OTCQB:WMLLF) (SSE:WMLCL) (Frankfurt: EJZ), announces that it has closed a non-brokered private placement of 3,704,845 shares of the Company at a price of $1.10 per Share for gross proceeds of $4,075,329.50.  The financing closed in two tranches.  Under the first tranche, which closed on October 26, 2016, 1,185,000 Shares were issued at $1.10 per Share for gross proceeds of $1,303,500 and in respect of which the Company paid cash finder’s fees of $53,900.00 to Haywood Securities Inc.  The second and final tranche closed on November 2, 2016 and resulted in the issuance of 2,519,845 Shares at $1.10 per Share for gross proceeds of $2,771,829.50.  The Company paid paid cash finder’s fees totaling $160,545.00 to Haywood Securities Inc., Canaccord Genuity Corp. and RBC Dominion Securities Inc. in connection with the second tranche.

The net proceeds from the Placement are intended to be used to fund the initial option payment on the Atacama Lithium Project (details of which are set out in a press release issued by the Company on August 4, 2016), the costs for the review and assessment of additional potential lithium mineral property acquisitions in South America, and for general and administrative expenses and working capital.

Wealth continues to assess additional potential lithium mineral property acquisitions in South America.

Completion of the Placement is subject to receipt of applicable regulatory approvals, including acceptance by the TSX Venture Exchange.  The Shares will be issued pursuant to applicable prospectus and registration exemptions, and in Canada will be subject to a four month and one day hold period.

This press release does not constitute an offer of sale of any of the foregoing securities in the United States.  None of the foregoing securities have been and will not be registered under the U.S. 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 press 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 of lithium projects in South America.  To date the Company has positioned itself to develop the Aguas Caliente Norte, Pujsa and Quisquiro Salars in Chile (the Trinity Project), as well as to work with existing producers in the prolific Atacama Salar.  The Company continues to aggressively pursue new acquisitions in the region.  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.