Wealth Closes $4 Million Non-Brokered Private Placement

VANCOUVER, Nov. 2, 2016 /CNW/ - Wealth Minerals Ltd. (the "Company" or "Wealth") - (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZ), announces that it has closed a non-brokered private placement (the "Placement") of 3,704,845 shares (the "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.

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"
Hendrik van Alphen
Chief Executive Officer

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.

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 United States securities legislation.  All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, timing and cost of exploration programs; anticipated exploration program results; the proposed completion of the Placement; the proposed use of the proceeds from the Placement (including as same relate to the Atacama Lithium Project); the Company's expectation that it will be able to enter into agreements to acquire interests in additional lithium or other mineral projects; the discovery and delineation of mineral deposits/resources/reserves; and the anticipated business plans and timing of future activities 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 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 the Company to obtain any necessary permits, consents or authorizations required, including TSX Venture Exchange acceptance for its planned 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 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.

Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.  The forward-looking statements included in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

SOURCE Wealth Minerals Limited

For further information: Marla Ritchie, Phone: 604-331-0096 Ext. 3886 or 604-638-3886, E-mail: info@wealthminerals.com

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Wealth Minerals Limited

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