Wealth Minerals announces $1 million private placement offering

Wealth Minerals Ltd. (TSXV: WML) announced a non-brokered private placement offering of up to 12.5 million units at $0.08 per unit for gross proceeds of up to $1 million.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at an exercise price of $0.12 per warrant share for 24 months.

Insiders may participate in the offering and finders' fees may be payable to qualified finders. All securities issued are subject to a four-month hold period during which time the securities may not be traded. Closing of the offering requires approval from the TSX Venture Exchange.

The company stated proceeds from the offering are expected to advance the CEOL process and for general working capital. CEO Hendrik van Alphen said the company's CEOL application has been accepted and the company is moving to complete the CEOL contract.

Wealth Minerals is a mineral resource company with interests in Canada and Chile. The company focuses on the acquisition and development of lithium projects in South America and is working to diversify its asset base to include precious metal projects.

The securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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