Wealth Minerals Ltd. (TSX-V:WML) (Frankfurt:EJZ) is pleased to announce that they have received TSX Venture Exchange acceptance to close the non-brokered private placement announced on March 23, 2016.

Today, on the closing of the placement, the Company will issue a total of 7,780,000 common shares at a price of $0.20 per share.  All shares issued by the Company will have a four-month hold period in Canada ending on August 7, 2016.  A total of $64,820.00 in cash will be paid in finder’s fees to Haywood Securities Inc., Canaccord Capital Corporation, Canfarm Investments Inc. and two individuals.

The Company also reports that they have arranged an additional financing of up to 4,000,000 shares at a price of $0.25 per share.

Additional Non-brokered Private Placement

The Company has arranged an additional non-brokered private placement of common shares consisting of up to 4,000,000 common shares at a price of $0.25 per share to raise gross proceeds of up to $1,000,000.  All shares issued in the Placement will have a hold period in Canada of four months from the closing of the Placement.  Finder’s fees may be paid on a portion of the Placement.

The net proceeds from the Placement are intended to be used to fund the costs related to the ongoing discussions with Li3 Energy, Inc. (“Li3”) pursuant to the letter of intent with Li3 announced on February 1, 2016 (NR16-01), including to carry out and complete the required due diligence on Li3 and the Maricunga Lithium Project, for the review and assessment of additional potential lithium mineral property acquisitions and the negotiation of related formal documentation for any such acquisition(s), for property payments and work programs on the Company’s existing mineral properties and for general and administrative expenses and working capital.

In addition to the ongoing discussions with Li3 under the LOI, the Company is currently also involved in the review and evaluation of a number of prospective lithium mineral projects in South America for possible acquisition.  However, no agreements with respect to the acquisition of any such mineral projects has yet been entered into, and there can be no assurance that the Company will, in fact, be successful in entering into any such agreements or acquiring interests in any additional mineral properties.

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’s strategy is to acquire undervalued projects with low exploration risk, attractive grades and potentially low capital requirements.  Management insist that projects be located in stable and development-friendly geopolitical jurisdictions and that capital required for development is not excessive within the context of each commodity.  The focus over the past few years has been on the acquisition of precious metals projects.  The proposed acquisition of Li3 offers a new kind of opportunity where helping to meet emerging lithium demand is expected to create additional value for shareholders.  The Company will also continue to move forward with its existing precious metals projects, such as Yanamina (Peru) and Valsequillo (Mexico).