Wealth Minerals Ltd.

Wealth Minerals Ltd.

November 14, 2008 12:32 ET

Wealth Closes Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2008) -


Wealth Minerals Ltd. (the "Company" or "Wealth") (TSX VENTURE:WML)(FRANKFURT:EJZ) is pleased to announce the closing, on November 12, 2008, of the non-brokered private placement announced on September 25, 2008 and revised on October 9, 2008. The Company issued 2,802,000 units at a price of $0.25 per unit for gross proceeds of $700,500. Each unit consisted of one common share and one transferable common share purchase warrant. Each warrant is exercisable to acquire one additional common share until November 12, 2010 at an exercise price of $0.40. If, at any time during the period from March 14, 2009 until November 12, 2010, the daily volume-weighted average trading price of the Company's common shares on the TSX Venture Exchange exceeds $1.50 for at least 10 consecutive trading days, the Company may, within 30 days of such occurrence, give an expiry acceleration notice to the holders of warrants and, if it does so, the warrants will, unless exercised, expire on the 30th day after the expiry acceleration notice is given.

All securities issued in connection with the private placement and any shares issued upon the exercise of the warrants will have a hold period in Canada until March 13, 2009.

The net proceeds from the Offering are intended to be used to fund exploration programs on the Company's uranium exploration projects in Argentina, for ongoing mineral property investigations and potential acquisitions, and for general working capital.

This press release does not constitute an offer to sell, or a solicitation of an offer to sell, any of the foregoing securities in the United States. None of the foregoing securities have been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Wealth Minerals Ltd.

Wealth is an early stage mineral exploration company with approximately 29.9 million shares issued and listings on the TSX Venture and Frankfurt Stock Exchanges. The Company's focus is the acquisition and exploration of prospective uranium properties, primarily in Argentina and Peru. In addition to ongoing work programs on its existing properties, it continues to actively evaluate new potential uranium projects in these and other countries.

For further details on the Company readers are referred to the Company's web site (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of WEALTH MINERALS LTD.

Hendrik Van Alphen, President & CEO

This press release contains forward-looking statements within the meaning of Canadian Securities Law and Section 27A of the U.S. Securities Act and Section 21E of the U.S. Exchange Act. Such statements include, without limitation, statements regarding the anticipated use of the net proceeds of the private placement, the timing of future activities by the Company and the anticipated business plans of the Company. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the uranium markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, the Company's ability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's recent most annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company's page on SEDAR at www.sedar.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release, which has been prepared by management.

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