Wealth Minerals and the Quechua Indigenous Community of Ollague Form Kuska Minerals Joint-venture to Develop the Kuska Project in the Salar De Ollague

Core Viewpoint - Wealth Minerals Ltd. has formed a joint venture, Kuska Minerals SpA, with the Quechua Indigenous Community of Ollagüe to develop the Kuska Project in the Salar de Ollagüe area, emphasizing community involvement and sustainable practices [1][6]. Company Structure and Ownership - Kuska Minerals is structured with 95% ownership held by Wealth Minerals and 5% by the Quechua Community, which includes preferential rights such as anti-dilution protection and the right to appoint one director to the board [2][3]. - The board of directors for Kuska Minerals includes five members, with Víctor Nina Huanca, the president of the Quechua Community, being one of the appointed directors [3]. Project Details - The Kuska Project spans over 10,200 hectares in the Salar de Ollagüe area and has undergone two exploration campaigns since Wealth began its development in 2019 [7]. - The project has an initial resource estimate of 741,000 tonnes of Lithium Carbonate Equivalent (LCE) with an average concentration of 175 mg/L, and inferred resources of 701,000 tonnes of LCE with an average grade of 185 mg/L [7]. - A preliminary economic assessment indicated an Internal Rate of Return (IRR) of 33% and a Net Present Value (NPV) of approximately US$1.65 billion for a project producing 20,000 tonnes of LCE per year over a 20-year mine life [7]. Future Steps and Community Involvement - The next steps for the Kuska Project include obtaining a Special Lithium Operating Contract (CEOL) and conducting an environmental impact assessment [4][5]. - The partnership is noted as a pioneering model for community involvement in mining projects in Chile, aligning with the National Lithium Strategy [5][7].