Wealth Minerals cheers simplified process for CEOL

Executive Summary

• The Chilean Ministry of Mining announced a new simplified procedure for assigning a special lithium operating contract (CEOL) in the Salar de Ollagüe.
• Wealth Minerals intends to participate through its 95 % owned subsidiary, Kuska Minerals SpA, and is confirming compliance with the required criteria.
• CEO Hendrik “Henk” van Alphen highlighted that the new process moves Wealth closer to advancing a prefeasibility study and environmental impact assessment for the Kuska lithium project.

Key Details

• Procedure Announcement: Ministry of Mining (Chile) resolved on 2025‑09‑23 to open a simplified CEOL assignment procedure for the Salar de Ollagüe lithium and salars committee.
• Eligibility Requirements: Applicants must hold ≥ 80 % of mining concessions within the defined polygon, possess experience across any stage of the lithium/mining value chain, and demonstrate sufficient financial capacity.
• Polygon Modification: Indigenous consultation led to removal of culturally sensitive and populated areas from the contract polygon, prompting the new procedure.
• Wealth’s Position: Wealth Minerals’ Kuska Project (developed since 2019) is held by subsidiary Kuska Minerals SpA (95 % Wealth, 5 % Quechua Indigenous Community).
• Compliance Efforts: Wealth is reviewing Exempt Resolution No. 2263 to ensure it meets all procedural deadlines and conditions.
• Strategic Intent: Participation aims to secure the CEOL, enabling progression to a prefeasibility study and environmental impact assessment for the Kuska lithium project.

Notable Quotes

“The implementation of this simplified process for obtaining a CEOL at the Salar de Ollagüe is great news for Wealth and brings us one step closer to realizing our lithium project.” – Hendrik “Henk” van Alphen, CEO, Wealth Minerals Ltd.