Wealth Minerals Ltd.

Wealth Minerals Ltd.

September 17, 2008 09:15 ET

Wealth Discovers Additional High-Grade Uranium Occurrences at the Bororo Nuevo Project, San Jorge Basin, Argentina

Theta zone returns grade of 44.4 lbs/ton U3O8 (1.88% uranium)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2008) - Wealth Minerals Ltd. (the "Company" or "Wealth") (TSX VENTURE:WML)(FRANKFURT:EJZ) is pleased to announce the results from additional sampling at its Bororo Nuevo Project (BNP) in southern Argentina.

Sampling and prospecting at the Theta zone (13 samples) has highlighted an area measuring 110 metres by 30 metres averaging 5.16 lbs/ton U3O8 (0.219% uranium) and ranging from 0.21 lbs/ton U3O8 (0.009% uranium) to 44.4 lbs/ton U3O8 (1.88% uranium) (Figure 1). At the Iota zone, fifteen samples averaged 1.49 lbs/ton U3O8 (0.063% uranium), and ranged from 32 ppm uranium to a maximum of 6.44 lbs/ton U3O8 (0.273% uranium) (Figure 1).

(To view Figure 1 please click the following link: http://media3.marketwire.com/docs/wml917.jpg)

Additional sampling at the recently discovered Eta zone (see NR08-05) combined with previous results (36 samples total) average 1.41 lbs/ton U3O8 (0.060% uranium) and range from below detection (10 ppm uranium) to 11.7 lbs/ton U3O8 (0.497% uranium).

The new Theta and Iota zone discoveries bring the total to nine zones of untested high-grade uranium mineralization within a uranium fairway measuring 9 kilometres by up to 7 kilometres. Mineralization remains open in all directions. To date, the Company has collected a total of 608 surface samples at BNP, which average 2.40 lbs/ton U3O8 (0.102% uranium) and less than 12% of the property has been explored in systematic fashion, indicating the excellent potential for further new discoveries.

Mineralization at BNP is typical of sandstone-type uranium deposits, such as those in Niger and the central U.S., which globally account for approximately 30% of worldwide uranium resources. The continued success of surficial exploration programs at BNP clearly highlights the uranium-rich and underexplored nature of the San Jorge Basin.

Environmental permits have been approved and the Company is currently awaiting the necessary permits and approvals to conduct both the initial drill testing of known showings and a detailed HiRAM (High-Resolution Radiometrics and Magnetics) survey designed to rapidly prospect the remaining 90% of the BNP area. Timing for the issuance of the applicable permits, and hence the commencement of such work programs, is unknown at this time.

Bororo Nuevo Project Overview

Located in southern Argentina, the BNP is one of the Company's flagship properties and forms the core part of the Company's extensive 355 square kilometre land-holdings targeting high-grade uranium mineralization in the productive San Jorge Basin, host to the past-producing Cerro Condor and Los Adobes uranium deposits as well as the 10.3 million pound U3O8 Cerro Solo uranium deposit.

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 preparation of the scientific and technical information that forms the basis for this news release. Mr. Heffernan is not independent of Wealth by virtue of being an officer and a holder of incentive stock options.

Wealth's work programs are supervised by R. Scott Heffernan, P.Geol., Wealth's Vice-President, Exploration, who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at each project rigorously collect and track samples which are then sealed and shipped to Alex Stewart Assayers Argentina S.A. (ASA) laboratory facilities in Mendoza, Argentina for analysis. ASA's quality system complies with the requirements for the International Standard ISO 9001:2000. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Finally, representative blind blank and duplicate samples are forwarded to ASA for additional quality control.

Laboratory results are received in parts per million uranium. The conversion factor used to convert parts per million uranium to pounds per short ton U3O8 is 1.179, which was verified with the Saskatchewan Research Council (ppm uranium x 1.179 equals ppm U3O8; 10,000 ppm uranium equals 1% equals 20 lbs/ton uranium).

About Wealth Minerals Ltd.

Wealth is an early stage mineral exploration company with approximately 27.1 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 Canadian regulatory filings on SEDAR at www.sedar.com.

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

Henk Van Alphen, President & Chief Executive Officer

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the timing, cost and nature of future exploration activities by the Company, future anticipated exploration program results, the anticipated issuance of required permits, the discovery and delineation of mineral deposits/resources/reserves and the potential size and nature of any uranium deposit at Bororo Nuevo. 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, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability 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 current 20F for a more complete discussion of such risk factors and their potential effects.

This press release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. The Company advises US investors that the US Securities and Exchange Commission's mining guidelines strictly prohibit information of this type in documents filed with the SEC. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.

All of the Company's public disclosure filings may be accessed via www.sedar.com and www.sec.gov and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

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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