Wealth Minerals Ltd. (the "Company" or "Wealth") - (TSX
VENTURE:WML)(OTCQX:WMLLF)(FRANKFURT:EJZ) is pleased to report, the
acquisition of an option to acquire the Valsequillo Silver project,
southern Chihuahua state, Mexico. The property is located
approximately 40 kilometres southeast of the city of Hidalgo Del
Parral within the pre-eminent Altiplano Polymetallic Belt of
north-central Mexico. Initial reconnaissance work has identified
two significant northwest trending structural corridors
characterized by extensive artisanal workings, en echelon and
segmented precious and base metal bearing vuggy quartz-sulphide
(pyrite, galena, sphalerite and chalcopyrite) veins and a broad
colour anomaly (gossan). The mineral-alteration system(s)
identified to date remain open for expansion in all directions
(Figure 1).
To view Figure 1, visit:
http://media3.marketwire.com/docs/wml209_F1.pdf.
Analysis indicates that the large 3,000 hectares property covers
the uppermost portion of a Tertiary porphyry/subvolcanic system
with potential for high grade and/ or bulk tonnage,
polymetallic-precious metal type mineralization analogous to the
setting at the Levon Resources Cordero project (located 50
kilometres to the north) or Goldcorp's Penasquito project (located
about 350 kilometres to the southeast) within the Altiplano
Polymetallic Belt. The property is unexplored by modern methods and
can be rapidly and cost-effectively brought to the drill stage in a
timely manner. Access and infrastructure are excellent, topography
is moderate with elevations averaging 1,700 metres and water is
readily available.
PREVIOUS WORK
Past artisanal mining activity was concentrated on a number of
epithermal, Zn-Pb-Cu-Ag veins and/or stock-work and silicified
zones. The majority of the mineral occurrences are predominantly
concentrated within two northwest-trending corridors along the
eastern and western margins respectively of an elongate color
anomaly (gossan) occupying the bulk of the property (Figure 1).
There is no evidence of modern exploration having occurred on the
property.
During the course of the present property examination a total of
33 rock samples were taken. These samples could be described as
character samples as they were generally grab samples from dump
material at some of the many old workings on the property. Assay
values varied from 0.005 to 2.68 ppm (g/t) gold; 0.4 to 629 ppm
(g/t) silver; 11 to 66,400 ppm (6.64%) copper; 10 to 165,500 ppm
(16.55%) lead and 43 to 63,800 ppm (6.38%) zinc.
WESTERN CORRIDOR
At the western edge of the gossan, a NNW trending corridor up to
200 metres wide can be traced for at least 1,200 metres and is
still open in both directions along strike. Within this corridor,
there are at least three and possibly as many as six veins or
faulted vein segments. The veins dip steeply east, consist
predominantly of vuggy, epithermal quartz with varying amounts of
calcite and barite as well as scattered clots of base metal
sulfides, secondary iron oxides and minor sulfosalts. Base metals
predominate, but copper and silver values are significantly higher
than those present in the "eastern vein corridor". Grades as high
as 499 g/t Ag and 6.6 % Cu were obtained from dump samples. Near
the south end of the western corridor (as presently known) the
veins appear to coalesce and form a continuous zone of veining,
stockwork and silicification at least 50 metres wide. There is also
evidence for the presence of one or more veins west of the
presently defined "corridor".
EASTERN CORRIDOR
At the eastern edge of the gossan, a series of en-echelon quartz
veins/shear zones can be traced for approximately 3,000 metres
along strike. This structural zone or corridor is at least 400
metres wide and contains a number of mineralized
quartz-calcite-barite-sulphide veins which vary from 1 to 5 metres
wide. In unoxidized material, sulfides approximate 5 to 10 % of the
vein material and grades average 5% combined lead-zinc, 0.5 %
copper, 30 g/t silver and 20 to 100 ppb gold. Locally there are
shoots of higher grade material which returned values up to 10 %
combined Pb-Zn, 1% Cu and 100 to 150 g/t Ag. Gold grades are
generally subdued but selected samples have returned values in the
1 to 2 g/t range.
OPTION AGREEMENT
Subject to TSX Venture Exchange acceptance, Wealth has an option
to acquire a 100% interest in the Valsequillo property from a
private Mexican family for a total consideration of $6.65 million
over a 54-month period. Details of the option agreement are as
follows (all values are US Dollars):
-- Signing: $ 150,000 (paid)
-- 12 Months: $ 200,000
-- 24 Months: $ 400,000
-- 30 Months: $ 400,000
-- 36 Months: $ 500,000
-- 42 Months: $ 500,000
-- 48 Months: $1,500,000
-- 54 Months: $3,000,000
ABOUT WEALTH MINERALS
Wealth is a Canadian based mineral exploration company with
listings on the TSX Venture, OTCQX and Frankfurt Stock
Exchanges.
For further details on the Company readers are referred to the
Company's web site (www.wealthminerals.com) and its Canadian
regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of WEALTH MINERALS LTD.
Hendrik Van Alphen, President & CEO
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements of
historical fact, included herein including, without limitation,
statements regarding the anticipated content, commencement and cost
of exploration programs, anticipated exploration program results,
the discovery and delineation of mineral
deposits/resources/reserves, business and financing plans and
business trends, 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 or any of its joint
venture partners 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, but not limited to, variations in the nature, quality
and quantity of any mineral deposits that may be located,
variations in the market price of any mineral products the Company
or its joint venture partners may produce or plan to produce, the
inability of the Company or any of its joint venture partners to
obtain any necessary permits, consents or authorizations required
for its or their activities, the inability of the Company or any of
its joint venture partners to produce minerals from their
properties successfully or profitably, to continue its projected
growth, to raise the necessary capital or to be fully able to
implement their respective business strategies, 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.
Caution Regarding Adjacent or Similar Mineral Properties
This news release contains information with respect to adjacent
or similar mineral properties in respect of which the Company has
no interest or rights to explore or mine. The Company advises US
investors that the mining guidelines of the US Securities and
Exchange Commission (the "SEC") set forth in the SEC's Industry
Guide 7 ("SEC Industry Guide 7") strictly prohibit information of
this type in documents filed with the SEC. Readers are cautioned
that the Company has no interest in or right to acquire any
interest in any such properties, and that mineral deposits on
adjacent or similar properties are not indicative of mineral
deposits on the Company's properties.
This press release is not, and is not to be construed in any way
as, an offer to buy or sell securities in the United States.
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 press release, which has been prepared by
management.
Contacts: Wealth Minerals Ltd. Dean Linden 604-331-0096 Ext.
1429 or 604-638-1429info@wealthminerals.com
www.wealthminerals.com
Wealth Minerals (QB) (USOTC:WMLLF)
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