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Cours Or & Argent
Wealth Enters Into LOI to Sell Argentinean Uranium Projects to Crosshair Energy Corporation
Published : October 25, 2012
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Mots clés associés :   Canada | Uranium |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2012) - Wealth Minerals Ltd. (the "Company" or "Wealth") - (News - Market indicators)(OTCQX:WMLLF)(FRANKFURT:EJZ), announces that it has entered into a Letter of Intent ("LOI") with Crosshair Energy Corporation, a public company headquartered in Vancouver, BC, to sell Crosshair all of Wealth's prospective uranium properties in Argentina.

The consideration for the sale of the properties is payments to Wealth of CAD 1.0 million in cash (less the amount of any outstanding liabilities associated with the sale properties and assumed by Crosshair) and the issuance to Wealth of one million Crosshair common shares. The cash payments and share issuances will be done over a two year period, with CAD 300,000 and 750,000 Crosshair shares due on closing. In addition, Wealth retains a 1% yellowcake royalty on all uranium production and a 1% NSR royalty on all other minerals.

Henk Van Alphen, Wealth's Chief Executive Officer and President, stated "The sale to Crosshair will allow us to focus our efforts on growing Valsequillo and acquiring additional silver projects, while still retaining participation in the upside of our prior work in Argentina through our shares of Crosshair and the royalty."

Completion of the transaction is subject to a number of conditions, including Toronto Stock Exchange and NYSE MKT acceptance on behalf of Crosshair, the completion of due diligence on the properties by Crosshair and the negotiation and execution of a definitive agreement. There can be no assurance that the transaction will be completed as proposed or at all.

The Company also reports that Jeffrey Pontius has submitted his resignation as a director of the Company, effective October 31, 2012, in order to devote the time necessary in his position as CEO of Corvus Gold Inc. The Board would like to take this opportunity to thank Mr. Pontius for his years of service on behalf of the Company.

About Wealth Minerals Ltd.

Wealth is an early stage 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, the terms of and proposed completion of the sale to Crosshair, the timing of future activities by the Company, the potential for the Company to acquire additional silver properties and the anticipated business plans of the Company, 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, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, 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 may produce or plan to produce, the inability of Crosshair to secure the required regulatory acceptances to complete the acquisition of the Argentina properties, the inability of the Company to obtain any necessary permits, consents or authorizations required for its activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its 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.

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.

Wealth Minerals Ltd.
Dean Linden
604-331-0096 Ext. 1429 or 604-638-1429
info@wealthminerals.com
www.wealthminerals.com
Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Wealth Minerals Ltd.

EXPLORATEUR
CODE : WML.V
ISIN : CA9468851006
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Wealth Min. est une société développant des projet miniers de lithium basée au Canada.

Wealth Min. détient divers projets d'exploration en Argentine.

Ses principaux projets en exploration sont AMBLAYO, LAS CAPILLAS (EL CUCHO), SAN JORGE BASIN (BORORO NUEVO), DIAMANTE - LOS PATOS, PAMPA CORIA, BORONO NOVO et RODEO DE LOS MOLLES en Argentine et MACUSANI au Perou.

Wealth Min. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 7,0 millions CA$ (5,1 millions US$, 4,6 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 6,12 CA$, et son plus bas niveau récent le 07 novembre 2014 à 0,03 CA$.

Wealth Min. possède 77 660 000 actions en circulation.

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2008 Annual Report
2006 Annual report
Financements de Wealth Minerals Ltd.
11/03/2013Closes Non-Brokered Private Placement
11/03/2013Closes Non-Brokered Private Placement
21/01/2013Arranges Non-Brokered Private Placement and Debt Settlement
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30/09/2009Arranges Non-Brokered Private Placement
10/09/2009Closes Non-Brokered Private Placement
12/08/2009Arranges Non-Brokered Private Placement
14/11/2008Closes Non-Brokered Private Placement
25/09/2008Announces Non-Brokered Private Placement
Projets de Wealth Minerals Ltd.
03/06/2011(Rodeo De Los Molles)Commences Drilling on Its Rodeo de los Molles Rare Earth Ele...
23/03/2011(Borono Novo)Commences Discovery Drilling Campaign on Its Bororo Nuevo Ur...
19/09/2008(Pampa Coria)Discovers Outcropping Copper-Gold Porphyry and Uranium Syste...
17/09/2008(San Jose)Discovers Additional High-Grade Uranium
09/09/2008(Macusani)(Revised) Discovers Outcropping Uranium Mineralization
02/05/2008(San Jose)Discovers New Zone of High-Grade Uranium
01/05/2008(Diamante - Los Patos)New Drilling Results at the Bingo Zone
15/04/2008(San Jose)Defines Large Copper Target at San Jose Property
30/01/2008(Diamante - Los Patos)Drilling Continues to Intersect Broad Zones of Uranium
05/12/2007(Diamante - Los Patos)Intersects Large, Potential Bulk Tonnage at Diamante-Los Pat...
25/10/2007(Diamante - Los Patos) Commences 10,000 metre drilling campaign on its Diamante-Lo...
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22/06/2016Wealth Signs LOI to Acquire Balance of Salar de Aguas Calien...
16/06/2016Wealth Signs LOI to Acquire Pujsa Lithium Project, Salar de ...
08/06/2016Wealth Closes Financing of $2,000,000
07/06/2016Wealth Appoints Tim McCutcheon as President Arranges Non-Bro...
31/05/2016Wealth Completes Listing on OTCQB® Exchange
27/04/2016Wealth Signs LOI to Acquire Puritama Project Salar de Aguas ...
21/04/2016Wealth Closes $1,000,000 Financing
18/04/2016Wealth Announces Appointment of Marcelo A. Awad as Executive...
02/02/2016U.S. lithium firm Albemarle plans to more than double Chile ...
01/02/2016Wealth Enters into Exclusive LOI to Negotiate Agreement to A...
30/12/2015Wealth Closes $540,000 Non-Brokered Flow-through Private Pla...
29/12/2015Wealth Closes $540,000 Non-Brokered Flow-through Private Pla...
17/12/2015Wealth Outlines Coronado Plans
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09/10/2015Wealth Grants Stock Options
08/10/2015Wealth Closes Acquisition of Yanamina Gold Project, Peru
17/08/2015Wealth Completes $450,000 Non-Brokered Private Placement
05/08/2015Wealth Appoints Tang Chief Operating Officer & Director
27/07/2015Wealth Signs Definitive Agreement for Option to Acquire up t...
13/07/2015Wealth Shares Listed on the Foreign Securities Market of the...
24/06/2015Wealth Grants Stock Options
07/04/2015Wealth Grants Stock Options
01/04/2015Wealth Enters into Exclusive LOI to Negotiate Agreement to A...
31/03/2015Wealth Closes $720,000 Non-Brokered Private Placement
27/02/2015Wealth Closes $750,000 Non-Brokered Private Placement
23/02/2015Wealth Arranges $720,000 Non-Brokered Private Placement
02/02/2015Wealth Options N1/N2 Gold Project from Balmoral Resources Lt...
02/02/2015Balmoral Options N1-N2 Project to Wealth Minerals
21/01/2015Wealth Completes Share Consolidation and Debt Settlement
09/07/2013Crosshair Terminates Letter of Intent with Wealth Minerals
04/07/2013Amends Option Grant of 3,150,000
21/06/2013Grants 3,150,000 Options
25/10/2012Enters Into LOI to Sell Argentinean Uranium Projects to Cros...
02/10/2012Confirms Potential for Bulk-Tonnage Silver at Valsequillo Pr...
13/09/2011Tue. Sep. 13/11
07/07/2011Surface Sampling Expands Known Zones of High-Grade Rare Eart...
04/05/2011Intersects Potentially Large, Bulk Tonnage, Uranium System a...
11/04/20114/11/11
11/04/2011Initial Sampling Confirms Presence of High-Grade Rare Earth ...
23/03/2011News Release
27/05/2010Signs Option to Acquire Argentina’s Largest Rare Earth Eleme...
02/09/2008Vientos Property Hosts Large Outcropping Uranium Zone
26/04/2008FILES FORM 15 TO VOLUNTARILY TERMINATE U.S. REGISTRATION
09/04/2008EXPLORATION UPDATE
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TSX-V (WML.V)FRANKFURT (EJZ.F)
0,090+12.50%0,0070
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