Wealth Minerals Ltd. signs alternative agreement to acquire Argentine uranium deposit

Vancouver-based Wealth Minerals Ltd. (TSXV:WML) has signed an alternative to acquire a rare earth element and uranium deposit in Argentina for US$3.6 million. The company signed an option agreement with Michelotti e Hijos SRL to potentially acquire the Rodeo de Los Molles assets in a series of payments totalling US $3.6 million, plus $150,000 on exploration in the first year.

Wealth is designing an exploration program to confirm and potentially expand the resource.The property contains several unusual earth elements including uranium, which have unique physical, chemical and light-emitting properties, making them useful in technologies such as magnets, hybrid cars, wind turbines, computers and cell phones.

Wealth says the price of rare earth products has increased significantly over the past three years due to increased require and tightening supplies.Wealth is an early stage mineral exploration company that focuses on the acquisition and exploration of potential uranium and rare earth element properties in Argentina and Peru.