Wealth Minerals Intersects Potentially Large, Bulk Tonnage, Uranium System at Bororo Nuevo Project in San Jorge Basin, Argentina

Wealth Minerals Ltd. (the "Company" or "Wealth") - (TSX
VENTURE:WML)(FRANKFURT:EJZ), is pleased to announce initial diamond drill
results from its 100%-owned Bororo Nuevo Uranium Project ("BN") located in
Chubut Province, Argentina. 


Initial Drill Results

Seven drillholes (B11-A-01 to -07) targeting the recently discovered
paleo-channel at Alpha Zone each intersected uranium mineralization (Table 1)
including drillhole B11-A-07 which returned 5.05 metres @ 2.19 lbs/ton U3O8
(0.094% uranium) including 1.85 metres @ 4.58 lbs/ton U3O8 (0.194% uranium).
Discovery drilling to date has successfully traced mineralization for over 300
metres from east to west across a north-south trending paleo-channel that dips
shallowly (approximately 5 degrees) to the south (Figure 1 -
http://media3.marketwire.com/docs/694126_fig_1.pdf). Uranium mineralization
consists of autunite, carnotite and rare uraninite hosted in pebble
conglomerates, sandstones and siltstones of the productive Los Abodes Formation
- host to the past-producing Cerro Condor and Los Adobes deposits as well as the
10.3 million pound U3O8 Cerro Solo uranium deposit. Grade and thickness of the
mineralization progressively increase to the west possibly reflecting increased
organic carbon content when moving from channel to overbank facies within the
paleo-channel system. Mineralization remains open to the north, south and west.




                   Table 1: Alpha Zone Drill Intersections                  
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Hole        From (m)  To (m)  Interval (m)  U3O8 (ppm)  lbs/ton U3O8   U (%)
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B11-A-01       104.7   105.6           0.9       140.5          0.28   0.012
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B11-A-02         6.4     8.2           1.8       126.7          0.25   0.011
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B11-A-03        9.65      18          8.35       365.6          0.73   0.031
     incl.        15      18             3       593.6          1.19   0.050
----------------------------------------------------------------------------
B11-A-04        12.2    13.9           1.7       164.0          0.33   0.014
----------------------------------------------------------------------------
B11-A-05        15.8    18.3           2.5       248.1          0.50   0.021
----------------------------------------------------------------------------
B11-A-06        16.1    19.1             3       901.5          1.80   0.076
     incl.     16.75    19.1          2.35      1103.8          2.21   0.094
B11-A-07         9.6   14.65          5.05      1092.9          2.19   0.093
     incl.      12.2   14.65          1.85      2291.9          4.58   0.194
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B11-A-08  no significant intersections                                      
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B11-A-09  no significant intersections                                      
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Two drillholes, B11-A-08 and -09, targeting anomalous radon gas levels to the
south and north of the primary section at Alpha zone did not intersect
significant uranium mineralization (Figure 1). Three drillholes targeting
anomalous radon at the Mesa area of Beta zone did not intersect any significant
mineralization (Figure 2 - http://media3.marketwire.com/docs/694126_fig_2.pdf).


Bororo Nuevo Property Overview

The Bororo Nuevo property is the flagship of the Company's five uranium
properties in the productive San Jorge Basin, which is host to the
past-producing Cerro Condor and Los Adobes deposits as well as the 10.3 million
pound U3O8 Cerro Solo uranium deposit. The San Jorge Basin lies within the
Patagonian Provinces of Santa Cruz and Chubut and is readily accessible via an
all-season paved road and a network of well-maintained gravel roads. The Company
currently owns, or has the exclusive right to acquire, 76 'minas' and 'cateos'
(concessions) that total approximately 600,000 hectares (6,000 square
kilometres) representing the largest land position in the San Jorge Basin.


The BN property consists of 4 minas and 6 cateos that total approximately 35,500
hectares (355 square kilometres). To date, nine large zones of mineralization
have been discovered within a uranium fairway measuring 12 by 4 kilometres and
less than 12% of the property has been mapped and prospected. The stratigraphy
is known to be productive and the continued success of surficial exploration
programs at BN clearly highlights the uranium-rich and underexplored nature of
the San Jorge Basin. 


Future Work

With over 30 diamond drillholes (greater than 2,000 metres) now complete and the
winter season approaching, the discovery drill program at Bororo Nuevo is nearly
finished. The Company will use the winter season to review the highly successful
results while designing an expanded drill campaign to continue advancing the
project towards a potential NI 43-101 uranium resource estimate at Alpha Zone.
The program is anticipated to commence in the Argentinean spring (Q4 2011). 


Upon completing the remaining few drillholes at Bororo Nuevo, the Company plans
to move the drill rig and crew to Rodeo de los Molles, its advanced-stage rare
earth element project in San Luis Province where it will commence an aggressive
drilling program, the aim of which is to increase known mineralization and
define a NI 43-101 compliant resource. Climatic conditions allow work year-round
at Rodeo de los Molles and the drilling is anticipated to commence on or about
the middle of May, 2011. 


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 shareholder 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
the 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 = ppm U308; 10,000 ppm uranium = 1% = 20 lbs/ton uranium).


About Wealth Minerals Ltd.

Wealth is an early stage mineral exploration company with approximately 47.3
million shares issued and listings on the TSX Venture and Frankfurt Stock
Exchanges. The Company's focus is on the acquisition and exploration of
advanced-stage uranium and rare earth element properties, primarily in Argentina
and Peru. In addition to ongoing work programs on existing properties, it
continues to actively evaluate new potential uranium and rare earth 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

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking
information (collectively, "forward-looking statements") within the meaning of
applicable Canadian and US securities legislation. All statements, other than
statements of historical fact, included herein including, without limitation,
statements regarding the anticipated content, commencement and cost of
exploration programs, anticipated exploration program results, the discovery and
delineation of mineral deposits/resources/reserves, business and financing plans
and business trends, are forward-looking statements. 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, dilution, the volatility of the Company's common share price and
volume; variations in the market price of any mineral products the Company may
produce or plan to produce, 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, and other risks and uncertainties
disclosed in the Company's Management Discussion and Analysis filed with certain
securities commissions in Canada, and other information released by the Company
and filed with the appropriate regulatory agencies. All of the Company's
Canadian public disclosure filings may be accessed via www.sedar.com, and
readers are urged to review these materials, including the technical reports
filed with respect to the Company's mineral properties.


Cautionary Note Concerning Similar or Adjacent Mineral Properties

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.


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.