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Wealth Minerals' New Subsidiary Kuska Minerals Is Officially Established and Its Board Meets for the First Time
Vancouver, British Columbia--(Newsfile Corp. - July 14, 2025) - Wealth Minerals Ltd. (TSXV: ...
About this update from Wealth Minerals Ltd.
[{"type":"text","content":"Wealth Minerals' New Subsidiary Kuska Minerals Is Officially Established and Its Board Meets for the First TimeVancouver, British Columbia--(Newsfile Corp. - July 14, 2025) - Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the \"Company\" or \"Wealth\") announces the completion of the formation of its subsidiary Kuska Minerals SpA (\"Kuska Minerals\"), in which it has partnered with the Quechua Indigenous Community of Ollagüe (\"Ollagüe Community\") to further advance the development of the Kuska lithium project in the Salar de Ollagüe, Antofagasta Region, Chile (see news release dated May 27, 2025).Along with the formation of the new company, its board of directors was established and held its first meeting. The board is composed of Mr. Hendrik \"Henk\" van Alphen, Mr. Marcelo Awad, Mr. Francisco Lepeley, Mr. Stephen Foot, and Mr. Victor Nina Huanca. The latter is the representative designated by the Ollagüe Community, exercising its right to appoint a member of the Kuska Minerals board.In its first meeting, the board of directors agreed on certain operating rules and elected Mr. Marcelo Awad as chairman. Additionally, the progress of the Kuska project was discussed, as well as all the upcoming tasks the company will undertake. In this regard, the company reports that, according to publicly available information, the Ministry of Mining is leading an indigenous consultation process for Ollagüe and a small number of other locations, where it has decided to prioritize the granting of Special Lithium Operating Contracts (CEOLs) as a precondition for granting such contracts. In the case of Kuska Minerals, the company hopes to have a CEOL in the near-term, in order to complete the second exploration campaign, and initiate the pre-feasibility study and, in parallel, the environmental impact assessment.Regarding the formation of the Kuska Minerals board of directors, Henk van Alphen, Wealth's CEO and Kuska Minerals' board member, stated, \"We are very pleased to see the JV with the Quechua Indigenous Community of Ollagüe become a reality and to share the new board with Víctor Nina. Since our arrival in the Ollagüe territory more than five years ago, we have been planning this joint venture, which will allow us to develop the lithium project with the highest sta...