28.

9% TREO in Initial Sampling Confirms Presence of High-Grade Rare Earth Elemen

t Mineralization at Wealth's Rodeo de los Molles Project, Argentina
Highlights include 8.7 metres at 1.34% TREO; 2.2 metres at 3.53% TREO; and 3.2 m
etres at 3.06% TREO.
Vancouver, British Columbia, April 21, 2011 -- Wealth Minerals Ltd. (the "Compan
y" or "Wealth") - (TSX VENTURE:WML) (FRANKFURT:EJZ) announces that the initial r
esults from its Phase I surface exploration at its Rodeo de los Molles (Rodeo) R
are Earth Element (REE) Project in San Luis Province, Argentina confirm the pres
ence of outcropping high-grade REE mineralization.
Additionally, 136 selected rock grab samples collected from outcrop and material
quarried by the previous operator average 1.70% Total Rare Earth Oxide (TREO) w
ith values ranging from detection limits to 28.9% TREO.
Following a highly successful recent property visit by Wealth's ( http://www.wea
lthminerals.com ) specialist REE expert advisory committee comprised of Dr. Tony
Mariano, Alastair Neill, and Dr. Raul Lira, the Company has decided to signific
antly increase the planned exploration and resource definition work on this exci
ting new discovery. Specifically, the advisory board commented on the well-devel
oped near-site infrastructure, large land-package including outcropping potentia
l REE mineralization (confirmed by this initial sampling program) and anticipate
d favourable metallurgical or recovery characteristics of the mineralization (te
st-work is currently in progress).
Commenting on these results, President and CEO Henk Van Alphen stated: "The resu
lts returned from this initial phase of work at Rodeo confirm the existence of t
he high-grade REE mineralization reported by previous operators. While one of ou
r primary objectives is to establish the presence of a National Instrument 43-10
1 estimated resource, the presence of high grade REE mineralization outside the
historic deposit areas is especially encouraging and these targets will be teste
d during the upcoming drill program, which is anticipated commence in the very n
ear future."
Results
Channel samples, cut with a portable rock saw, were systematically collected fro
m surface exposures both peripheral to and from within the two main zones, 'La J
uli' and 'Mina Norte', as well as the under-explored 'El Rulo' zone. The final r
esults (Table 1) successfully confirm the tenor of REE mineralization present at
Rodeo and highlight the potential for additional discovery.
Representative grab samples of quarried material from the La Juli zone stockpile
s (~250 meter diameter) averaged 2.02% TREO from 61 samples. Similarly, 38 selec
ted grab samples collected from stockpiles at the Mina Norte zone (~400 metres b
y ~150 metres), averaged 1.55% TREO.
Click Here for Table ( http://www.marketwire.com/press-release/Wealth-Minerals-L
td-Initial-Sampling-Confirms-Presence-High-Grade-Rare-Earth-Element-TSX-VENTURE-
WML-1425541.htm )
Average Composition
The average composition of individual REE's from the 136 grab rock samples is su
mmarized in Table 2.
Click Here for Table ( http://www.marketwire.com/press-release/Wealth-Minerals-L
td-Initial-Sampling-Confirms-Presence-High-Grade-Rare-Earth-Element-TSX-VENTURE-
WML-1425541.htm )
Looking Ahead
The Company will commence Phase II of its aggressive exploration program upon co
mpletion of the detailed surface work, the aim of which is to increase the known
mineralization and define a NI 43-101 compliant resource. The field portion of
Phase II will begin with approximately 2,000 metres of diamond drilling (20 to 3
0 holes) and include additional mapping, sampling and prospecting and metallurgi
cal work. The program is expected to cost approximately $450,000 and take approx
imately two months to complete. The Company anticipates commencing the drilling
portion of the program once the on-going drill program at the Company's Bororo N
uevo uranium property is complete (anticipated to be on or about the middle of M
ay, 2011).
To view maps associated with this release, please visit the following link: medi
a3.marketwire.com/docs/wml411d.pdf.
Rodeo de los Molles Rare Earth Deposit Overview
The Rodeo de los Molles ("Rodeo") rare earth deposit is the largest undeveloped
Rare Earth Element project in Argentina with an historical resource of 5.6Mt at
2.1% total rare element oxide. The historical geologic resource estimate for Rod
eo was prepared in 1992 (including metallurgical testwork) and is based on appro
ximately 6,000 metres of RAB drilling. This historical resource estimate is cons
idered relevant by the Company given the global concerns regarding secure future
supplies of REEs and for the purposes of the Company's decision to acquire the
property and to guide the Company in formulating an exploration program for the
property. However, the Company cautions that the resource estimate was prepared
before the introduction of NI 43-101, and is therefore historical in nature and
the Company is not treating such resource as a current resource under NI 43-101.
Investors are further cautioned that a qualified person has not yet completed s
ufficient work to be able to verify the historical resources, and therefore they
should not be relied upon.
Historical exploration at the Rodeo deposit has only tested REE mineralization t
o very shallow depths of approximately 35 to 50 vertical metres. The mineralizat
ion discovered to date remains open for expansion in all directions, including a
t depth.
The Rodeo property may be worked all year round and infrastructure is excellent
a paved road is within 2 kilometres of the deposit and power and water are withi
n 8 kilometres.
Qualified Person & QA/QC Controls
R. Scott Heffernan, M.Sc., P.Geol., Wealth's Vice-President, Exploration, and a
qualified person as defined by National Instrument 43-101, has supervised the pr
eparation of the scientific and technical information that forms the basis for t
his news release. Mr. Heffernan is not independent of Wealth by virtue of being
an officer and shareholder and a holder of incentive stock options.
Wealth's activities to date at Rodeo have been supervised by R. Scott Heffernan,
P.Geol., Wealth's Vice-President Exploration, and Diego Charchaflie, P.Geo, Pri
ncipal of LPF Consulting SA, who are responsible for all aspects of the work, in
cluding the quality control/quality assurance program. On-site personnel at the
project rigorously collect and track samples which are then sealed and shipped t
o the Activation Laboratorios Ltda. laboratory facilities in Coquimbo, Chile for
preparation and then forwarded to Activation Laboratories Ltd. ("Actlabs") of A
ncaster, Ontario for geochemical analysis by '8-REE Assay Package by Fusion ICP
& ICP/MS'. Actlabs' Quality System is accredited to international quality standa
rds through the International Organization for Standardization/International Ele
ctrotechnical Comission (ISO/IEC) 17025. Analytical accuracy and precision are m
onitored by the analysis of reagent blanks, reference material and replicate sam
ples. Quality control is further assured by the use of international and in-hous
e standards.
About Wealth Minerals Ltd.:
Wealth is an early stage mineral exploration company with approximately 47.3 mil
lion shares issued and listings on the TSX Venture and Frankfurt Stock Exchanges
. The Company's focus is the acquisition and exploration of prospective uranium
and rare earth element properties, primarily in Argentina and Peru. In addition
to ongoing work programs on its existing properties, it continues to actively ev
aluate new potential uranium and rare earth projects in these and other countrie
s.
For further details on the Company readers are referred to the Company's web sit
e (wealthminerals.com) and its Canadian regulatory filings on SEDAR at sedar.com
.
On Behalf of the Board of Directors of:
WEALTH MINERALS LTD.
Hendrik Van Alphen, President & CEO
Press & Media Contact:
John Kocela
Wealth Minerals Ltd.
Suite 2300 - 1177 West Hastings Street
Vancouver, BC - V6E 2K3 Canada
604-638-3281
info@wealthminerals.com
http://www.wealthminerals.com