Wealth Discovers Additional High-Grade Uranium Occurrences at the Bororo Nuevo Project, San Jorge Basin, Argentina

Wealth Minerals Ltd. announce the results from additional sampling at its Bororo Nuevo Project (BNP) in southern Argentina.

Sampling and prospecting at the Theta zone (13 samples) has highlighted an area measuring 110 metres by 30 metres averaging 5.16 lbs/ton U3O8 (0.219% uranium) and ranging from 0.21 lbs/ton U3O8 (0.009% uranium) to 44.4 lbs/ton U3O8 (1.88% uranium) (Figure 1). At the Iota zone, fifteen samples averaged 1.49 lbs/ton U3O8 (0.063% uranium), and ranged from 32 ppm uranium to a maximum of 6.44 lbs/ton U3O8 (0.273% uranium) (Figure 1).

Additional sampling at the recently discovered Eta zone (see NR08-05) combined with previous results (36 samples total) average 1.41 lbs/ton U3O8 (0.060% uranium) and range from below detection (10 ppm uranium) to 11.7 lbs/ton U3O8 (0.497% uranium).

The new Theta and Iota zone discoveries bring the total to nine zones of untested high-grade uranium mineralization within a uranium fairway measuring 9 kilometres by up to 7 kilometres. Mineralization remains open in all directions. To date, the Company has collected a total of 608 surface samples at BNP, which average 2.40 lbs/ton U3O8 (0.102% uranium) and less than 12% of the property has been explored in systematic fashion, indicating the excellent potential for further new discoveries.

Mineralization at BNP is typical of sandstone-type uranium deposits, such as those in Niger and the central U.S., which globally account for approximately 30% of worldwide uranium resources. The continued success of surficial exploration programs at BNP clearly highlights the uranium-rich and underexplored nature of the San Jorge Basin.

Environmental permits have been approved and the Company is currently awaiting the necessary permits and approvals to conduct both the initial drill testing of known showings and a detailed HiRAM (High-Resolution Radiometrics and Magnetics) survey designed to rapidly prospect the remaining 90% of the BNP area. Timing for the issuance of the applicable permits, and hence the commencement of such work programs, is unknown at this time.

Bororo Nuevo Project Overview

Located in southern Argentina, the BNP is one of the Company’s flagship properties and forms the core part of the Company’s extensive 355 square kilometre land-holdings targeting high-grade uranium mineralization in the productive San Jorge Basin, host to the past-producing Cerro Condor and Los Adobes uranium deposits as well as the 10.3 million pound U3O8 Cerro Solo uranium deposit.