Wealth Minerals Ltd. announced a non-brokered private placement of up to 6,814,814 flow-through units at a price of CAD 0.27 per unit for gross proceeds of up to CAD 1,840,000 and 2,500,000 non-flow through shares at a price of CAD 0.20 per share for gross proceeds of CAD 500,000 for aggregate gross proceeds of CAD 2,340,000 on October 14, 2022. Each unit consisting of one flow-through common share and one-half of one non-flow-through common share purchase warrant, with each warrant entitling the holder thereof to purchase one non-flow-through common share at an exercise price of CAD 0.40 per warrant share for a period of 24 months. Finder's fees may be payable to arm's length parties that have introduced the company to certain subscribers participating in the flow-through offering.

There are no finder's fees payable pursuant to the non-flow-through. The non-flow-through offering is fully subscribed. All securities issued are subject to a four-month hold period, during which time the securities may not be traded.

The transaction is subject to the approval of the TSX Venture Exchange.