Wealth Minerals Ltd.
TSX VENTURE : WML
FRANKFURT : EJZ

Wealth Minerals Ltd.

October 09, 2008 14:51 ET

Wealth Revises Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA U.S. NEWSWIRE SERVICES.

Wealth Minerals Ltd. (the "Company" or "Wealth") (TSX VENTURE:WML)(FRANKFURT:EJZ) is pleased to announce that they have repriced the non-brokered private placement originally announced on September 25, 2008. The Company will now issue up to 4,100,000 units (the "Units") at a price of $0.25 per Unit for gross proceeds of up to $1,050,000 (the "Offering"). Each Unit consists of one common share of the Company ("Share") and one transferable common share purchase warrant. Each warrant ("Warrant") is exercisable to acquire one additional Share for a period of 24 months from closing at an exercise price of $0.40. All other terms and conditions remain the same.

All securities issued in the Offering and any Shares issued upon exercise of Warrants will have a hold period in Canada of four months from the closing of the Offering.

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

Completion of the placement is subject to the acceptance for filing of the TSX Venture Exchange.

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 a mineral exploration company with approximately 26 million shares issued and outstanding and listings on the TSX Venture and Frankfurt Stock Exchanges.

For further details on the Company readers are referred to the Company's web site (www.wealthminerals.com), 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 timing of future activities by the Company, including the closing of the proposed private placement and the anticipated business and financing 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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