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Wealth Executes Letter of Intent for Option to Acquire up to 100% of Noyell Property, Located East of N2 Property, Quebec
VANCOUVER , June 15, 2015 /CNW/ - Wealth Minerals Limited.  ("Wealth") ") - (TS...
About this update from Wealth Minerals Ltd.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, June 15, 2015 /CNW/ - Wealth Minerals Limited.  (\"Wealth\") \") - (TSXV: WML; Frankfurt: EJZ), announces that it has executed an LOI to secure an exclusive option (the \"Option\") to acquire up to 100% of the Noyell Property (the \"Property\" or \"Noyell\") from Brionor Resources Inc. (\"Brionor\") through issuance of the Company's common shares valued at $850,000 over four years.  The Property is contiguous with the Company's N2 property in Quebec (Figure 1).  Wealth now has 30 days to complete due diligence and finalize the formal option agreement.\n\nNoyell Property Detail\n\nThe known gold mineralization trend on the N2 property extends for approximately 7 kilometers (\"km\") in an east-west orientation.  The Noyell Property is contiguous with the Company's N2 property and represents a potential extension of 5 km for a total strike length of 12 km (Figure 1).  The Noyell Property contains two known zones of mineralization (Zone 1 and Zone 2) defined through historical drilling.  \n\nAcquisition of the Noyell Property is premised on the interpretation that there is considerable potential to verify and expand historically defined mineralization and to discover new mineralized zones.  Linear magnetic highs, shown as bright purple trends on Figure 1, define potentially mineralized structural zones, such as the one associated with the former producing Vezza Gold Deposit and those associated with known mineralization on N2 and Noyell.\n\nAt Noyell, the main magnetic high, located immediately south of Zones 1 and 2, has not been significantly tested by drilling and remains open for discovery of additional mineralization.  In addition, historical data defines an induced polarization (\"IP\") anomaly immediately east of Zone 2 that is also untested.\n\nTransaction Details\n\nWealth may earn up to a 100% interest in three option stages through issuance of common shares valued at $850,000 over four years (Table 1).  The Option does not require any cash payments and there are no exploration work commitments.\n\nIf Wealth exercises the first option and acquires the initial 49% interest but thereafter elects not to exercise the second option for 26%, then the Option will terminate and Brionor will have an option (the \"Re-Purchase Option\") to acquire Wealth's 49% interest...