Wealth Minerals Provides Update on Proposed Andacollo Oro Gold Project Acquisition

On October 29, 2025, Wealth Minerals announced that it has terminated the binding letter agreement to acquire the Andacollo Oro Gold Project in Chile, which was originally announced on September 25, 2025. The company cited "Canadian regulatory requirements combined with new Chilean banking compliance delays" as the reason for being unable to make the necessary payments within the required timeframe. The CEO stated the company will now refocus on its portfolio of lithium projects in Chile.

The termination of the Andacollo Oro Gold Project acquisition is a materially negative event that severely damages management's credibility and unravels the company's recent strategic direction.

Just over one month ago, on September 25, 2025, the company announced a major pivot from lithium to gold, touting the Andacollo project's large historical resource. This news, combined with a proposed $5 million financing and share consolidation, ignited a speculative rally, driving the stock up over 200% from its base.

The abrupt failure of this cornerstone transaction represents a significant strategic misstep. The stated reasons—regulatory and banking delays—are concerningly vague for a transaction of this magnitude. A competent management team should anticipate and navigate such procedural hurdles. This failure suggests either poor execution and a lack of foresight, or it could be masking more serious issues, such as an inability to secure the required financing or the discovery of fatal flaws during due diligence.

With the collapse of the gold pivot, Wealth Minerals is forced back to its original identity as a struggling lithium junior. The investment thesis now reverts entirely to its Chilean lithium assets, primarily the Kuska project. However, Kuska itself faces significant uncertainty, having had its key operating permit (CEOL) application declined in April 2025 due to failing to meet land requirements. While the company expressed optimism in September 2025 about a revised, simplified process, there is no guarantee of success.

The associated $5 million financing, intended to fund the acquisition, is now presumably cancelled. This leaves the company in a precarious financial position. Given its cash balance of only $125,278 as of May 31, 2025, and a consistent cash burn, the $1.02 million raised in September will not last long. The company will be forced to raise capital again soon, but from a position of weakness following this public failure.

This event completely erases the positive momentum from September and returns the company to a state of high uncertainty, both strategically and financially.

Wealth Minerals Ltd. is a junior mineral exploration company primarily focused on lithium projects in Chile. Its flagship asset is the Kuska lithium project located in the Salar de Ollagüe. The project has an NI 43-101 compliant resource estimate (Jan 2023) and a positive Preliminary Economic Assessment (Feb 2024).

The company's key challenge has been permitting. Its initial application for a Special Lithium Operating Contract (CEOL) was declined in April 2025. The company's future now depends on a newly announced "simplified" permitting process. The company has a joint venture on the Kuska project with the local Quechua Indigenous Community, which holds a 5% free-carried interest.

For a brief period in September-October 2025, the company attempted to pivot to gold with the proposed acquisition of the Andacollo Oro project, but this transaction has now been terminated.