Wealth Minerals Permitting Application for the Kuska Project Accepted

Core Viewpoint - Wealth Minerals Ltd. has received official acceptance for a Special Lithium Operating Contract for the Kuska Project, marking a significant step towards project development and potential profitability in the lithium market [1][2]. Company Overview - Wealth Minerals Ltd. is focused on acquiring and developing lithium projects in South America, with interests in Canada and Chile [4]. - The company aims to diversify its asset base to include precious metal projects while advancing battery metal projects where it has a competitive advantage [5]. Kuska Project Details - The Kuska Project is located in the Salar de Ollagüe, Antofagasta Region, Chile, and has been under development since 2019 [3]. - The project has an estimated resource 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 [3]. - A preliminary economic assessment indicates an Internal Rate of Return (IRR) of 33% and a Net Present Value (NPV) of US$1.65 billion for a 20,000 tonne LCE per year project with a 20-year mine life [3]. Market Context - Global prices for Lithium Carbonate Equivalent have recently recovered, exceeding US$16,000 per tonne, which enhances the project's attractiveness [2]. - The lithium market is experiencing structural issues that may lead to a mismatch between supply and demand, positioning Wealth Minerals to benefit from future trends [5].