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Wealth Reports New Simplified Procedure for Assigning CEOL in Salar de Ollague
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2025) - Wealth Minerals Ltd. &#...
About this update from Wealth Minerals Ltd.
[{"type":"text","content":"Wealth Reports New Simplified Procedure for Assigning CEOL in Salar de OllagueVancouver, British Columbia--(Newsfile Corp. - September 23, 2025) - Wealth Minerals Ltd.  (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the \"Company\" or \"Wealth\") announces that on September 23, 2025, the Ministry of Mining reported that the Lithium and Salars Committee has resolved to open a new simplified procedure for the assignment of a Special Lithium Operating Contract (\"CEOL\") in the Salar de Ollagüe. According to the information, companies or consortia interested in entering into said CEOL with the State of Chile must have a percentage of mining concessions equivalent to or greater than 80% of the polygon specified for said salar, experience in any stage of the lithium industry and/or mining industry value chain, and financial capacity to develop the project.The ministerial authority stated that \"in the dialogue phase of the CEOL's Indigenous consultation process for the Salar de Ollagüe, a unanimous agreement was reached to modify the polygonal vertices of the contract area proposed by the Ministry, excluding the areas of greatest cultural interest to Indigenous communities and the populated areas that were part of the polygon. Given the magnitude of this modification, the Ministry has decided to open a new procedure for those interested in this salt system, based on the conditions outlined in the first process, which concluded in December 2024.\"In the Salar de Ollagüe territory, Wealth has the Kuska lithium project, which they have been developing since 2019. To this end, on May 23, 2025 (see news release dated May 27, 2025, statement \"Wealth Minerals and the Quechua Indigenous Community of Ollagüe form Kuska Minerals Joint-Venture to develop the Kuska Project in the Salar de Ollagüe\"), the Company established the subsidiary Kuska Minerals SpA (\"Kuska Minerals\"), in which it maintains 95% ownership in association with the Quechua Indigenous Community of Ollagüe, which owns the remaining 5% of the shares. Wealth intends to participate in the announced simplified procedure through its subsidiary Kuska Minerals. Wealth is currently verifying compliance with all the conditions established in Exempt Resolution No. 2263 of the Ministry of Mining, which regulates the process, in order to co...