**UNITED        STATES**

**SECURITIES        AND EXCHANGE COMMISSION**

**Washington,        D.C. 20549**

**FORM        20-F/A**

**Amendment        No. 1**

|  REGISTRATION                  STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE                  ACT                  OF 1934. OR                                                      |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| √                  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES                  EXCHANGE                  ACT OF 1934For                  the fiscal year ended November 30, 2004. OR  |
| TRANSITION                  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                  ACT OF                  1934                                                                           |

| Securities                      registered or to be registered pursuant to Section 12(b) of                      the Act.                        |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| Securities                      registered or to be registered pursuant to Section 12(g) of                      the Act.                             |

| Indicate                        the number of outstanding shares of each of the issuer's                        classes of                        capital or common stock as of the close of the period covered                        by the                        annual report. 10,783,642                                                                                                                                                                                                                                                                                                                                                        |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Indicate                        by check mark whether the registrant (1) has filed all reports                        required to                        be filed by Section 13 or 15(d) of the Securities Exchange                        Act of 1934                        during the preceding 12 months (or for such shorter period                        that the                        registrant was required to file such reports), and (2) has                        been subject to                        such filing requirements for the past 90                        days.           |
|     √                        Yes         No                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|  Indicate                        by check mark which financial statement item the registrant                        has elected to                        follow.                                                                                                                                                                                                                                                                                                                                                   |
|    √                        Item 17   Item                        18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

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**EXPLANATORY        NOTE**

**Other        than as expressly set forth above, this Form 20-F/A does not, and does not        purport to, amend, update or restate the information in any Item of the Form        20-F or reflect any events that have occurred after the filing of the Form        20-F.**

**ITEM        17.    **
**FINANCIAL        STATEMENTS**

| **Description                  of Statement**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| (a)                  Auditor’s Report(b)                  Consolidated Balance Sheets as of November 30, 2004 and 2003(c)                  Consolidated Statements of Operations and Cumulative Loss for each                  of the                  three years ended November 30, 2004, 2003 and 2002(d) Consolidates                  Statements of Cash Flows for each of the three years ended November                  30,                  2004, 2003 and 2002(e)                  Consolidated Statements of Shareholders’ Equity for each of the four years                  ended November 30, 2004, 2003, 2002 and 2001(f)                  Notes to the Consolidated Financial                  Statements |

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**WEALTH        MINERALS LTD.**

**(Formerly        Triband Enterprise Corp.)**

**(An        Exploration Stage Company)**

**(Expressed        in Canadian Dollars)**

**NOVEMBER        30, 2004 AND 2003**

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**AUDITORS’        REPORT**

**To        the Shareholders of**

**Wealth        Minerals Ltd.**

**(Formerly        Triband Enterprise Corp.)**

**(An        Exploration Stage Company)**

**SADOVNICK        TELFORD + SKOV**

**CHARTERED        ACCOUNTANTS**

----

**WEALTH        MINERALS LTD.**

**CONSOLIDATED        BALANCE SHEETS**

|                                                                    |   |   |                        |   |   |       |   |
|-------------------------------------------------------------------------|--------|--------|-----------------------------|--------|--------|------------|--------|
|                                                               |   | Notes  |                        | 2004   |   | 2003       |   |
| **ASSETS**                                                              |   |   |                        |   |   |       |   |   |   |   |
|                                                                    |   |   |                        |   |   |       |   |   |   |   |
| **Current**                                                             |   |   |                        |   |   |       |   |   |   |   |
| Cash                    and cash equivalents                            |   |   |                        |   | $      | 2,798,485  |   | $ | 64,899 |   |
| Restricted                    cash                                      |   |   |                        |   |   | 25,810     |   |   | — |   |
| Receivables                                                             |   |   |                        |   |   | 16,978     |   |   | 2,993 |   |
| Prepaid                    expenses                                     |   |   | 13                          |   |   | 181,246    |   |   | 6,075 |   |
| Due                    from related party                               |   |   | 3                    and 10 |   |   | —    |   |   | 5,350 |   |
|                                                                    |   |   |                        |   |   | 3,022,519  |   |   | 79,317 |   |
|                                                                    |   |   |                        |   |   |       |   |   |   |   |
| **Property,                    plant and equipment**               |   |   | 4                      |   |   | 13,463     |   |   | 10,170 |   |
| **Investments**                                                    |   |   | 6                           |   |   | 1          |   |   | 27,565 |   |
|                                                                    |   |   |                        |   | $      | 3,035,983  |   | $ | 117,052 |   |
|                                                                    |   |   |                        |   |   |       |   |   |   |   |
| **LIABILITIES                    AND SHAREHOLDERS’ EQUITY**       |   |   |                        |   |   |       |   |   |   |   |
|                                                                    |   |   |                        |   |   |       |   |   |   |   |
| **Current**                                                             |   |   |                        |   |   |       |   |   |   |   |
| Accounts                    payable and accrued liabilities             |   |   |                        |   | $      | 65,700     |   | $ | 37,950 |   |
| Due                    to related parties                          |   |   | 3                    and 10 |   |   | 25,525     |   |   | — |   |
| Due                    to affiliated company                       |   |   | 3                    and 10 |   |   | —    |   |   | 2,594 |   |
|                                                                    |   |   |                        |   |   | 91,225     |   |   | 40,544 |   |
| **NATURE                    AND CONTINUANCE OF OPERATIONS**   |   |   | 1                           |   |   |       |   |   |   |   |
|                                                                    |   |   |                        |   |   |       |   |   |   |   |
| **CONTINGENCIES                    AND COMMITMENTS** ** **    |   |   | 13                          |   |   |       |   |   |   |   |
|                                                                    |   |   |                        |   |   |       |   |   |   |   |
| **Shareholders’                    equity**                       |   |   |                        |   |   |       |   |   |   |   |
| Capital                    stock                                   |   |   | 7                           |   |   | 8,991,903  |   |   | 4,995,516 |   |
| Contributed                    surplus                             |   |   | 8                    and 9  |   |   | 532,560    |   |   | — |   |
| Share                    subscriptions                             |   |   | 14                          |   |   | (30,375    | )      |   | — |   |
| Deficit                    accumulated during the exploration stage     |   |   |                        |   |   | (6,549,330 | )      |   | (4,919,008 | ) |
|                                                                    |   |   |                        |   |   | 2,944,758  |   |   | 76,508 |   |
|                                                                    |   |   |                        |   | $      | 3,035,983  |   | $ | 117,052 |   |

|  _______________________     Director  |  _______________________     Director |
|---------------------------------------------------------------------------|---------------------------------------------------------------------|

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**WEALTH        MINERALS LTD.**

**CONSOLIDATED        STATEMENTS OF OPERATIONS AND CUMULATIVE LOSS**

|                                                                                               |   |                                                                                                  |       |                                                              |   |
|----------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------|------------|-------------------------------------------------------------------|--------|
|                                                                      |   | CumulativeAmountsFromOctober                  7,1994                  toNovember                  30, |       |     Years                  Ended November 30, |   |
|                                                                                               |   | 2004                                                                                                  |       | 2004                                                              |   | 2003 |   | 2002 |   |
|                                                                                               |   |                                                                                                  |       |                                                              |   |   |   |   |   |
| **OPERATING                  EXPENSES**                                                            |   |                                                                                                  |       |                                                              |   |   |   |   |   |   |   |   |   |
| Amortization                                                                                       |   | $                                                                                                     | 24,739     |                                                              | $      | 2,438 |   | $ | 2,974 |   | $ | 3,047 |   |
| Consulting                  fees (Note 10b)                                                        |   |                                                                                                  | 725,612    |                                                              |   | 238,116 |   |   | 82,800 |   |   | 100,522 |   |
| Acquisition,                  exploration, and development costs                  (Note 10a)       |   |                                                                                                  | 2,158,405  |                                                              |   | 504,262 |   |   | 27,783 |   |   | 57,664 |   |
| Listing                  and transfer agent fees                                                   |   |                                                                                                  | 246,478    |                                                              |   | 81,156 |   |   | 20,730 |   |   | 23,979 |   |
| Office                                                                                             |   |                                                                                                  | 296,107    |                                                              |   | 25,061 |   |   | 23,026 |   |   | 64,571 |   |
| Professional                  fees                                                                 |   |                                                                                                  | 296,429    |                                                              |   | 86,837 |   |   | 52,900 |   |   | 40,798 |   |
| Property                  investigation                                                            |   |                                                                                                  | 186,563    |                                                              |   | — |   |   | — |   |   | — |   |
| Rent                  (Note 10c)                                                                   |   |                                                                                                  | 118,130    |                                                              |   | 21,845 |   |   | 17,333 |   |   | 78 |   |
| Salaries                  and benefits                                                             |   |                                                                                                  | 85,827     |                                                              |   | 5,519 |   |   | — |   |   | — |   |
| Shareholders’                  communications                                                |   |                                                                                                  | 420,412    |                                                              |   | 30,938 |   |   | 11,853 |   |   | 4,175 |   |
| Stock-based                  compensation (Note 9)                                                 |   |                                                                                                  | 549,360    |                                                              |   | 549,360 |   |   | — |   |   | — |   |
| Travel                                                                                             |   |                                                                                                  | 158,461    |                                                              |   | 44,237 |   |   | 24,702 |   |   | 19,426 |   |
|                                                                                               |   |                                                                                                  | (5,266,523 | )                                                                 |   | (1,589,769 | ) |   | (264,101 | ) |   | (314,260 | ) |
|                                                                                               |   |                                                                                                  |       |                                                              |   |   |   |   |   |   |   |   |   |
| **Interest                  income**                                                               |   |                                                                                                  | 213,406    |                                                              |   | 15,749 |   |   | 464 |   |   | 1,092 |   |
| **Investment                  income**                                                             |   |                                                                                                  | 27,565     |                                                              |   | — |   |   | — |   |   | — |   |
| **B.C.                  Capital taxes**                                                            |   |                                                                                                  | (31,909    | )                                                                 |   | (31,909 | ) |   | — |   |   | — |   |
| **Gain                  on writedown of due to affiliated company**                                |   |                                                                                                  | 2,594      |                                                              |   | 2,594 |   |   | — |   |   | — |   |
| **Gain                  on sale of marketable securities**                                         |   |                                                                                                  | 100,703    |                                                              |   | — |   |   | — |   |   | — |   |
| **Gain                  (loss) on foreign exchange**                                               |   |                                                                                                  | 160,235    |                                                              |   | 577 |   |   | 438 |   |   | (1,917 | ) |
| **Loss                  on disposal of property, plant and equipment**                             |   |                                                                                                  | (7,189     | )                                                                 |   | — |   |   | — |   |   | — |   |
| **Impairment                  of mineral properties**                                              |   |                                                                                                  | (1,100,722 | )                                                                 |   | — |   |   | — |   |   | — |   |
| **Write-down                  of marketable securities**                                           |   |                                                                                                  | (374,526   | )                                                                 |   | — |   |   | — |   |   | — |   |
| **Write-down                  of investments**                                                     |   |                                                                                                  | (272,964   | )                                                                 |   | (27,564 | ) |   | — |   |   | — |   |
| **Net                  loss for the period**                                                       |   | $                                                                                                     | (6,549,330 | )                                                                 | $      | (1,630,322 | ) | $ | (263,199 | ) | $ | (315,085 | ) |
| **Basic                  and diluted loss per share**                                              |   |                                                                                                  |       |                                                              | $      | (0.24 | ) | $ | (0.14 | ) | $ | (0.22 | ) |
|                                                                                               |   |                                                                                                  |       |                                                              |   |   |   |   |   |   |   |   |   |
| **Basic                  and diluted weighted average common shares                  outstanding** |   |                                                                                                  |       |                                                              |   | 6,732,969 |   |   | 1,908,609 |   |   | 1,428,195 |   |

----

**WEALTH        MINERALS LTD.**

**CONSOLIDATED        STATEMENTS OF CASH FLOWS**

|                                                                                                  |   |                                                                                                                     |       |                                                  |   |
|-------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------|------------|-------------------------------------------------------|--------|
|                                                                                   |   | CumulativeAmounts                  fromOctober                  7, 1994to                  November                  30, |            |   Years                  Ended November 30, |   |
|                                                                                                  |   | 2004                                                                                                                     |       | 2004                                                  |   | 2003 |   | 2002 |   |
|                                                                                                  |   |                                                                                                                     |       |                                                  |   |   |   |   |   |
| **CASH                  FLOWS FROM OPERATING****ACTIVITIES**                                          |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
| Net                  loss for the period                                                              |   | $                                                                                                                        | (6,549,330 | )                                                     | $      | (1,630,322 | ) | $ | (263,199 | ) | $ | (315,085 | ) |
| Items                  not affecting cash (see Note 12a)                                              |   |                                                                                                                     | 2,201,232  |                                                  |   | 579,362 |   |   | 2,974 |   |   | 3,047 |   |
| Changes                  in non-cash working capital items                  (see Note 12b)            |   |                                                                                                                     | (17,167    | )                                                     |   | (133,125 | ) |   | 23,422 |   |   | 2,098 |   |
| **Net                  cash used in operating activities**                                            |   |                                                                                                                     | (4,365,265 | )                                                     |   | (1,184,085 | ) |   | (236,803 | ) |   | (309,940 | ) |
|                                                                                                  |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
| **CASH                  FLOWS FROM INVESTING****ACTIVITIES**                                          |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
| Proceeds                  on sale of marketable securities                                            |   |                                                                                                                     | 488,027    |                                                  |   | — |   |   | — |   |   | — |   |
| Property,                  plant and equipment acquired                                               |   |                                                                                                                     | (51,574    | )                                                     |   | (5,731 | ) |   | — |   |   | (6,841 | ) |
| Proceeds                  on disposal of property, plant                  and equipment               |   |                                                                                                                     | 6,183      |                                                  |   | — |   |   | — |   |   | — |   |
| Acquisition                  of mineral properties                                                    |   |                                                                                                                     | (500,722   | )                                                     |   | — |   |   | — |   |   | — |   |
| Acquisition                  of marketable securities                                                 |   |                                                                                                                     | (761,850   | )                                                     |   | — |   |   | — |   |   | — |   |
| Increase                  in investments                                                              |   |                                                                                                                     | (245,400   | )                                                     |   | — |   |   | — |   |   | — |   |
| **Net                  cash used in investing activities**                                            |   |                                                                                                                     | (1,065,336 | )                                                     |   | (5,731 | ) |   | — |   |   | (6,841 | ) |
|                                                                                                  |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
| **CASH                  FLOWS FROM****FINANCING                  ACTIVITIES**                         |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
| Issuance                  of capital stock, net of issuance                  costs                    |   |                                                                                                                     | 8,254,896  |                                                  |   | 3,949,212 |   |   | 175,500 |   |   | 508,150 |   |
| Common                  shares committed to be issued                                                 |   |                                                                                                                     | —    |                                                  |   | — |   |   | — |   |   | (125,000 | ) |
| **Net                  cash provided by financing a****ctivities**                                    |   |                                                                                                                     | 8,254,896  |                                                  |   | 3,949,212 |   |   | 175,500 |   |   | 383,150 |   |
|                                                                                                  |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
| **Net                  change in cash and cash****equivalents                  and restricted cash**  |   |                                                                                                                     | 2,824,295  |                                                  |   | 2,759,396 |   |   | (61,303 | ) |   | 66,369 |   |
|                                                                                                  |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
| **Cash                  and cash equivalents, beginning****of                  period**               |   |                                                                                                                     | —    |                                                  |   | 64,899 |   |   | 126,202 |   |   | 59,833 |   |
|                                                                                                  |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
| **Cash                  and cash equivalents and****restricted                  cash, end of period** |   | $                                                                                                                        | 2,824,295  |                                                  | $      | 2,824,295 |   | $ | 64,899 |   | $ | 126,202 |   |
|                                                                                                  |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
| **Cash                  and cash equivalents and****restricted                  cash consist of:**    |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
|                                                                                                  |   |                                                                                                                     |       |                                                  |   |   |   |   |   |   |   |   |   |
| Interest                  bearing balances with banks                                                 |   |                                                                                                                     |       |                                                  | $      | 481,826 |   | $ | 64,899 |   | $ | 126,202 |   |
| Term                  deposits                                                                        |   |                                                                                                                     |       |                                                  |   | 2,316,659 |   |   | — |   |   | — |   |
| Term                  deposits, restricted                                                            |   |                                                                                                                     |       |                                                  |   | 25,810 |   |   | — |   |   | — |   |
|                                                                                                  |   |                                                                                                                     |       |                                                  | $      | 2,824,295 |   | $ | 64,899 |   | $ | 126,202 |   |

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**WEALTH        MINERALS LTD.**

**CONSOLIDATED        STATEMENTS OF CASH FLOWS **

|                                                                                                                                  |   |                                                                                                                     |    |                                                        |   |
|---------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------|---------|-------------------------------------------------------------|--------|
|  **Supplemental disclosures with respect                  to the                  consolidated statements of  cash flows:** |   |                                                                                                                     |    |                                                        |   |
|                                                                                                                                  |   | CumulativeAmounts                  fromOctober                  7, 1994to                  November                  30, |    |    Years                  Ended November 30, |   |
|                                                                                                                                  |   | 2004                                                                                                                     |    | 2004                                                        |   | 2003 |   | 2002 |   |
|                                                                                                                                  |   |                                                                                                                     |    |                                                        |   |   |   |   |   |
| **Cash                  paid during the period for:**                                                                                 |   |                                                                                                                     |    |                                                        |   |   |   |   |   |   |   |   |   |
| Interest                                                                                                                              |   | $                                                                                                                        | — |                                                        | $      | — |   | $ | — |   | $ | — |   |
| Income                  taxes                                                                                                         |   | $                                                                                                                        | — |                                                        | $      | — |   | $ | — |   | $ | — |   |

|       |   |   |                                  |   |   |                             |   |
|------------|--------|--------|---------------------------------------|--------|--------|----------------------------------|--------|
|  Year |   |   | Number                      of Shares |   |   | Amount                           |   |   | Consideration |   |
|       |   |   |                                  |   |   |                             |   |   |   |   |
| 2004       |   |   | 200,000                               |   |   | $    244,000 |   |   | Acquisition                    of mineral property |   |
| 2004       |   |   | 84,583                                |   |   | 20,300                           |   |   | Shares                    for debts owing |   |
| 2002       |   |   | 23,750                                |   |   | 15,350                           |   |   | Finder’s                    fees |   |
| 2002       |   |   | 139,402                               |   |   | 66,457                           |   |   | Shares                    for debts owing |   |
| 1999       |   |   | 2,675                                 |   |   | 8,025                            |   |   | Finder’s                    fees |   |
| 1996       |   |   | 150,000                               |   |   | 600,000                          |   |   | Acquisition                    of mineral property |   |

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**WEALTH        MINERALS LTD.**

**CONSOLIDATED        STATEMENTS OF SHAREHOLDERS’ EQUITY **

|                                                                             |   |                                         |       |                    |   |                                                                                        |   |                                               |      |                                 |   |                           |   |                                                          |    |                    |   |
|----------------------------------------------------------------------------------|--------|----------------------------------------------|------------|-------------------------|--------|---------------------------------------------------------------------------------------------|--------|----------------------------------------------------|-----------|--------------------------------------|--------|--------------------------------|--------|---------------------------------------------------------------|---------|-------------------------|--------|
|                                                         |   |   Numberof                  Shares |       |    Price |   | Value                  ofCommonSharesIssued                  andFully                  Paid |   | CommonSharesCommittedto                  be Issued |      |   SubscriptionsReceivables |   |   ContributedSurplus |   | DeficitAccumulatedDuring                  theExplorationStage |    |    Total |   |
|                                                                             |   |                                         |       |                    |   |                                                                                        |   |                                               |      |                                 |   |                           |   |                                                          |    |                    |   |
| **Balance                  at****November                  30, 2001**            |   |                                         | 694,323    |                    |   |                                                                                        |   | $                                                  | 4,230,059 |                                 | $      | 125,000                        |   | $                                                             | — |                    | $      | — |   | $ | (4,340,724 | ) | $ | 14,335 |   |
|                                                                             |   |                                         |       |                    |   |                                                                                        |   |                                               |      |                                 |   |                           |   |                                                          |    |                    |   |   |   |   |   |   |   |   |   |
| Issuance                  of shares for cash:                                    |   |                                         |       |                    |   |                                                                                        |   |                                               |      |                                 |   |                           |   |                                                          |    |                    |   |   |   |   |   |   |   |   |   |
| Private                  placement  Private                  placement |   |                                         | 337,500    |                    | $      | 0.40                                                                                        |   |                                               | 135,000   |                                 |   | (125,000                       | )      |                                                          | — |                    |   | — |   |   | — |   |   | 10,000 |   |
| Private                  placement                                               |   |                                         | 212,500    |                    |   | 0.92                                                                                        |   |                                               | 195,500   |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 195,500 |   |
| Exercise                  of options                                             |   |                                         | 18,750     |                    |   | 0.68                                                                                        |   |                                               | 12,750    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 12,750 |   |
| Exercise                  of warrants                                            |   |                                         | 325,000    |                    |   | 0.48                                                                                        |   |                                               | 156,000   |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 156,000 |   |
| Exercise                  of warrants                                            |   |                                         | 20,209     |                    |   | 1.20                                                                                        |   |                                               | 24,250    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 24,250 |   |
| Issuance                  of shares for                  finder’s fee      |   |                                         | 12,500     |                    |   | 0.40                                                                                        |   |                                               | 5,000     |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 5,000 |   |
| Issuance                  of shares for                  finder’s fee      |   |                                         | 11,250     |                    |   | 0.92                                                                                        |   |                                               | 10,350    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 10,350 |   |
| Share                  issuance cost                                             |   |                                         |       |                    |   |                                                                                        |   |                                               | (15,350   | )                                    |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | (15,350 | ) |
| Settlement                  of debts                                             |   |                                         | 118,834    |                    |   | 0.40                                                                                        |   |                                               | 47,534    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 47,534 |   |
| Settlement                  of debts                                             |   |                                         | 20,568     |                    |   | 0.92                                                                                        |   |                                               | 18,923    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 18,923 |   |
| Net                  loss for the year                                           |   |                                         |       |                    |   |                                                                                        |   |                                               | —   |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | (315,085 | ) |   | (315,085 | ) |
| **Balance                  at****November                  30, 2002**            |   |                                         | 1,771,434  |                    |   |                                                                                        |   |                                               | 4,820,016 |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | (4,655,809 | ) |   | 164,207 |   |
|                                                                             |   |                                         |       |                    |   |                                                                                        |   |                                               |      |                                 |   |                           |   |                                                          |    |                    |   |   |   |   |   |   |   |   |   |
| Issuance                  of shares for cash                                     |   |                                         |       |                    |   |                                                                                        |   |                                               |      |                                 |   |                           |   |                                                          |    |                    |   |   |   |   |   |   |   |   |   |
| Private                  placement  Private                  placement |   |                                         | 62,500     |                    |   | 0.48                                                                                        |   |                                               | 30,000    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 30,000 |   |
| Exercise                  of options                                             |   |                                         | 56,250     |                    |   | 0.68                                                                                        |   |                                               | 38,250    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 38,250 |   |
| Exercise                  of options                                             |   |                                         | 6,250      |                    |   | 0.96                                                                                        |   |                                               | 6,000     |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 6,000 |   |
| Exercise                  of warrants                                            |   |                                         | 28,125     |                    |   | 1.20                                                                                        |   |                                               | 33,750    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 33,750 |   |
| Private                  placement  Private                  placement |   |                                         | 225,000    |                    |   | 0.30                                                                                        |   |                                               | 67,500    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 67,500 |   |
| Net                  loss for the year                                           |   |                                         |       |                    |   |                                                                                        |   |                                               | —   |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | (263,199 | ) |   | (263,199 | ) |
| **Balance                  at****November                  30, 2003**            |   |                                         | 2,149,559  |                    |   |                                                                                        |   |                                               | 4,995,516 |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | (4,919,008 | ) |   | 76,508 |   |
|                                                                             |   |                                         |       |                    |   |                                                                                        |   |                                               |      |                                 |   |                           |   |                                                          |    |                    |   |   |   |   |   |   |   |   |   |
| Issuance                  of shares for cash:                                    |   |                                         |       |                    |   |                                                                                        |   |                                               |      |                                 |   |                           |   |                                                          |    |                    |   |   |   |   |   |   |   |   |   |
| Private                  placement  Private                  placement |   |                                         | 850,000    |                    |   | 0.24                                                                                        |   |                                               | 204,000   |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 204,000 |   |
| Private                  placement  Private                  placement |   |                                         | 2,500,000  |                    |   | 0.27                                                                                        |   |                                               | 675,000   |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 675,000 |   |
| Exercise                  of warrants                                            |   |                                         | 62,500     |                    |   | 0.60                                                                                        |   |                                               | 37,500    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 37,500 |   |
| Private                  placement  Private                  placement |   |                                         | 3,010,000  |                    |   | 0.54                                                                                        |   |                                               | 1,625,400 |                                 |   | —                        |   |                                                          | (13,500 | )                       |   | — |   |   | — |   |   | 1,611,900 |   |
| Exercise                  of warrants                                            |   |                                         | 59,500     |                    |   | 1.20                                                                                        |   |                                               | 71,400    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 71,400 |   |
| Exercise                  of warrants                                            |   |                                         | 150,000    |                    |   | 0.35                                                                                        |   |                                               | 52,500    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 52,500 |   |
| Private                  placement  Private                  placement |   |                                         | 1,306,250  |                    |   | 0.80                                                                                        |   |                                               | 1,045,000 |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 1,045,000 |   |
| Exercise                  of options                                             |   |                                         | 178,750    |                    |   | 0.25                                                                                        |   |                                               | 44,687    |                                 |   | —                        |   |                                                          | (16,875 | )                       |   | — |   |   | — |   |   | 27,812 |   |
| Shares                  issued for property                                      |   |                                         | 200,000    |                    |   | 1.22                                                                                        |   |                                               | 244,000   |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 244,000 |   |
| Settlement                  of debts                                             |   |                                         | 84,583     |                    |   | 0.24                                                                                        |   |                                               | 20,300    |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | 20,300 |   |
| Stock-based compensation                                                    |   |                                         |       |                    |   |                                                                                        |   |                                               | 16,800    |                                 |   | —                        |   |                                                          | — |                    |   | 532,560 |   |   | — |   |   | 549,360 |   |
| Share                  issuance cost                                             |   |                                         |       |                    |   |                                                                                        |   |                                               | (40,200   | )                                    |   | —                        |   |                                                          | — |                    |   | — |   |   | — |   |   | (40,200 | ) |
| Net                  loss for the year                                           |   |                                         |       |                    |   |                                                                                        |   |                                               | —   |                                 |   | —                        |   |                                                          | — |                    |   | — |   |   | (1,630,322 | ) |   | (1,630,322 | ) |
| **Balance                  at****November                  30, 2004**            |   |                                         | 10,551,142 |                    |   |                                                                                        |   | $                                                  | 8,991,903 |                                 | $      | —                        |   | $                                                             | (30,375 | )                       | $      | 532,560 |   | $ | (6,549,330 | ) | $ | 2,944,758 |   |

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**WEALTH        MINERALS LTD.**

----

----

| **1.** |   | **NATURE                  AND CONTINUANCE OF                  OPERATIONS** |
|--------|--------|----------------------------------------------------------------------------|

|   | On                  January 14, 2004 the Company changed its name to Wealth Minerals                  Ltd. from                  Triband Enterprise Corp. and consolidated its capital stock, warrants                  and                  options on a basis of four old shares for one new share. All share,                  warrant, option and per unit data included in these financial statements                  have been adjusted to retroactively reflect this                  consolidation. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                  Company is in the process of exploring and developing its mineral                  properties and has not yet determined whether these properties                  contain                  mineral reserves that are economically                  recoverable. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **2.** |   | **SIGNIFICANT                  ACCOUNTING POLICIES** |
|--------|--------|------------------------------------------------------|

**Use        of estimates**

|   | The                  preparation of financial statements in conformity with Canadian                  generally                  accepted accounting principles requires Management to make estimates                  and                  assumptions that affect the reported amount of assets and liabilities                  and                  the disclosure of contingent assets and liabilities at the date                  of the                  financial statements and the reported amount of revenues and expenses                  during the period. Actual results could differ from those estimates.                  Accounts specifically requiring the use of management estimates                  and                  assumptions in determining carrying values are receivables, prepaid                  expenses, property, plant and equipment, investments, accounts                  payable and                  accrued liabilities, due to related party, due to affiliated company                  and                  future income taxes. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Principles        of consolidation**

|   | These                  consolidated financial statements include the accounts of the Company                  and                  its wholly owned subsidiary, Triband Resource US Inc. (incorporated                  in                  Nevada, U.S.A.). All significant intercompany balances and transactions                  have been eliminated. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Cash        and cash equivalents**

|   | Cash                  and cash equivalents includes cash in bank accounts and highly                  liquid                  investments with original maturities of three months or less. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Restricted        cash**

**Financial        instruments**

|   | The                  Company’s financial instruments consist of cash and cash equivalents,                  restricted cash, receivables, accounts payable and accrued liabilities                  and                  due to related parties. Unless otherwise noted, it is Management’s opinion                  that the Company is not exposed to significant interest, currency                  or                  credit risks arising from these financial instruments. The fair                  values of                  these financial instruments approximate their carrying values,                  unless                  otherwise noted. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**WEALTH        MINERALS LTD.**

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| **2.** |   | **SIGNIFICANT                  ACCOUNTING POLICIES**(cont’d...) |
|--------|--------|-----------------------------------------------------------------------|

**Acquisition        costs**

|   | **Exploration                  and development costs** |
|--------|--------------------------------------------------------|

|   | The                  Company has adopted the policy of expensing exploration and development                  costs as incurred. The Company will expense future exploration                  and                  development costs until such time as the existence of proven and                  probable                  reserves is determined, or sufficient objective evidence in the                  opinion of                  Management to support the recognition of an asset. Option payments                  receivable by the Company would be credited against mineral property                  exploration costs when received. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | **Property                  evaluations** |
|--------|-------------------------------------------|

|   | The                  Company reviews and evaluates the carrying amounts of its mineral                  properties when events or changes in circumstances indicate that                  the                  carrying amount may not be recoverable. If it is determined that                  the net                  recoverable amount is significantly less than the carrying value                  and the                  impairment in value is likely to be permanent, a reduction in the                  carrying                  amount of mineral properties with a corresponding charge to operation                  are                  recorded. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Cost        of maintaining mineral properties**

|   | The                  Company does not accrue the estimated future costs of maintaining                  its                  mineral properties in good                  standing. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |  **Environmental                  protection and reclamation                  costs** |
|--------|--------------------------------------------------------------------------------------------|

|   | The                  operations of the Company have been, and may be in the future be                  affected                  from time to time in varying degrees by changes in environmental                  regulations, including those for future removal and site restorations                  costs. Both the likelihood of new regulations and their overall                  effect                  upon the Company may vary from region to region and are not                  predictable. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                  Company’s policy is to meet or, if possible, surpass standards set by                  relevant legislation, by application of technically proven and                  economically feasible measures. Environmental expenditures that                  relate to                  ongoing environmental and reclamation programs will be charged                  against                  statements of operations as incurred or capitalized and amortized                  depending upon their future economic benefits. The Company does                  not                  currently anticipate any material capital expenditures for environmental                  control facilities because all property holdings are at early stages                  of                  exploration. Therefore, estimated future removal and site restoration                  costs are presently considered                  minimal. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Property,        plant and equipment**

|   | Property,                  plant and equipment are recorded at cost and are being amortized                  over                  their estimated useful lives at the following                  rates: |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Computer                  equipment             | 30%                  declining balance basis |
|-------------------------------------------------|----------------------------------------------|
| Office                  furniture and equipment | 20%                  declining balance basis |

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**WEALTH        MINERALS LTD.**

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| **2.** |   | **SIGNIFICANT                  ACCOUNTING POLICIES**(cont’d...) |
|--------|--------|-----------------------------------------------------------------------|

**Investments**

|   | The                  Company’s long-term investments are accounted for on the cost basis. The                  investments will be written-down to their estimated net realizable                  value                  when there is evidence of a decline in value below carried cost                  that is                  other than temporary. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | **Foreign                  exchange** |
|--------|---------------------------------------|

**Capital        stock**

|   | The                  proceeds from the exercise of stock options, warrants and escrow                  shares                  are credited to capital stock in the amount for which the option,                  warrant                  or escrow share enabled the holder to purchase a share in the                  Company. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Basic        and diluted loss per share**

**Stock-based        compensation**

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**WEALTH        MINERALS LTD.**

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| **2.** |   | **SIGNIFICANT                  ACCOUNTING POLICIES**(cont’d...) |
|--------|--------|-----------------------------------------------------------------------|

**Income        taxes**

**Segmented        Information**

**Revenue        Recognition**

**Credit        Risk**

| **3.** |   | **DUE                  FROM (TO) RELATED PARTIES** |
|--------|--------|----------------------------------------------------|

|                                                  |   |   |    |   |   |
|-------------------------------------------------------|--------|--------|---------|--------|--------|
|                                             |   | 2004   |    | 2003   |   |
| Due                  from related party (Note 10d)    |   | $      | — |   | $      | 5,350 |   |
| Due                  to related parties (Note 10c)    |   | $      | (25,525 | )      | $      | — |   |
| Due                  to affiliated company (Note 10g) |   | $      | — |   | $      | (2,594 | ) |
|                                                  |   |   |    |   |   |   |   |

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**WEALTH        MINERALS LTD.**

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| **4.** |   | **PROPERTY,                  PLANT AND EQUIPMENT** |
|--------|--------|----------------------------------------------------|

|                                            |   |   |   |                    |   |                            |   |   |   |
|-------------------------------------------------|--------|--------|--------|-------------------------|--------|---------------------------------|--------|--------|--------|
|                                       |   |   |   |                    |   | Net                  Book Value |   |
|                                            |   | Cost   |   | AccumulatedAmortization |   | 2004                            |   | 2003   |   |
|                                            |   |   |   |                    |   |                            |   |   |   |   |   |   |   |
| Computer                  equipment             |   | $      | 15,333 |                    | $      | 8,494                           |   | $      | 6,839  |   | $ | 2,413 |   |
| Office                  furniture and equipment |   |   | 14,274 |                    |   | 7,650                           |   |   | 6,624  |   |   | 7,757 |   |
|                                            |   | $      | 29,607 |                    | $      | 16,144                          |   | $      | 13,463 |   | $ | 10,170 |   |

| **5.** |   | **MINERAL                  PROPERTIES** |
|--------|--------|-----------------------------------------|

**Amata        Project, Peru**

**BET        claims, Nevada, USA**

**Title        to mineral properties**

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**WEALTH        MINERALS LTD.**

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| **6.** |   | **INVESTMENTS** |
|--------|--------|-----------------|

|                              |   |                              |    |   |   |      |   |   |    |   |   |
|-----------------------------------|--------|-----------------------------------|---------|--------|--------|-----------|--------|--------|---------|--------|--------|
|                         |   |                              |    |   |   |      |   | Net    |    |
|                              |   | Number                  of Shares |    | Cost   |   | Writedown |   | 2004   |    | 2003   |   |
|                              |   |                              |    |   |   |      |   |   |    |   |   |   |   |   |   |   |
| Clearant,                  Inc    |   |                              | 30,994  |   | $      | 27,564    |   | $      | (27,563 | )      | $      | 1 |   | $ | 27,564 |   |
| Puresource,                  Inc. |   |                              | — |   |   | 1         |   |   | (1      | )      |   | — |   |   | 1 |   |
|                              |   |                              |    |   | $      | 27,565    |   | $      | (27,564 | )      | $      | 1 |   | $ | 27,565 |   |

|   | Effective                  August 19, 1999, Puresource sold all of its assets to Clearant,                  Inc.                  (“Clearant”), a private company incorporated April 30, 1999 in the State                  of California, United States. As consideration, Puresource was                  issued                  3,000,000 shares of Clearant with a fair value of $2,837,650                  (US$1,900,000) or $0.95 (US$0.63) per share determined by an independent                  valuation at date of closing and promissory notes convertible into                  common                  shares at the discretion of Clearant totaling $1,642,850 (US$1,100,000).                  Upon completion of the sale, the shareholders of Puresource resolved                  to                  wind up the corporation. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | In                  October 2000, the Company received a distribution of assets from                  Puresource consisting of 29,015 Clearant shares. The distribution                  of                  assets by Puresource to its shareholders is considered a non-monetary                  non-reciprocal transfer and is accounted for on the basis of the                  recorded                  value of the resources transferred. As such, the 29,015 Clearant                  shares                  were recorded by the Company at $0.95 per share for a total value                  of                  $27,564. In October 2003, the Company received another 1,979 Clearant                  shares representing the Company’s proportionate interest in the remaining                  promissory notes. The Company now holds 30,994 common shares of                  Clearant.                  The promissory notes receivable were not originally recorded by                  the                  Company, and the resulting distribution of shares in lieu of those                  receivables has nominal value. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Clearant                  is a private company with no active market for its shares and has                  sustained significant operating losses in prior years. Due to uncertainty                  as to the value of the shares and a lack of current information                  from                  Clearant, the Company has determined that the investment in Clearant                  has                  experienced a permanent impairment and has written down its investment                  to                  a nominal value of $1. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                  investment in shares of Puresource was written down in the 2000                  fiscal                  year by $146,449 to a nominal value of $1. Following the second                  distribution of shares noted above, Puresource was wound up and                  the                  balance of the investment was written                  off. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**WEALTH        MINERALS LTD.**

----

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| **7.** |   | **CAPITAL                  STOCK** |
|--------|--------|------------------------------------|

|                                                                        |   |                                |       |   |   |
|-----------------------------------------------------------------------------|--------|-------------------------------------|------------|--------|--------|
|                                                                        |   |                                |       |   |   |
|                                                                        |   | Number                    of Shares |       | Amount |   |
| Authorized                                                                  |   |                                |       |   |   |   |   |
|                                                                        |   |                                |       |   |   |   |   |
| Unlimited                  number of common voting shares without par value |   |                                |       |   |   |   |   |
| Unlimited                  number of preferred shares, issuable in series   |   |                                |       |   |   |   |   |
|                                                                        |   |                                |       |   |   |   |   |
| Common                  shares issued (reflecting 4:1 consolidation)        |   |                                |       |   |   |   |   |
|                                                                        |   |                                |       |   |   |   |   |
| As                  at November 30, 2002                                    |   |                                | 1,771,434  |   | $      | 4,820,016 |   |
|                                                                        |   |                                |       |   |   |   |   |
| For                  cash - private placements                              |   |                                | 287,500    |   |   | 97,500 |   |
| For                  cash - exercise of options                             |   |                                | 62,500     |   |   | 44,250 |   |
| For                  cash - exercise of warrants                            |   |                                | 28,125     |   |   | 33,750 |   |
|                                                                        |   |                                |       |   |   |   |   |
| As                  at November 30, 2003                                    |   |                                | 2,149,559  |   |   | 4,995,516 |   |
|                                                                        |   |                                |       |   |   |   |   |
| For                  cash - private placements                              |   |                                | 7,666,250  |   |   | 3,549,400 |   |
| For                  cash - exercise of options                             |   |                                | 178,750    |   |   | 44,687 |   |
| For                  cash - exercise of warrants                            |   |                                | 272,000    |   |   | 161,400 |   |
| For                  acquisition of property                                |   |                                | 200,000    |   |   | 244,000 |   |
| For                  settlement of debts                                    |   |                                | 84,583     |   |   | 20,300 |   |
| Share                  issuance costs                                       |   |                                | —    |   |   | (40,200 | ) |
| Share                  based compensation                                   |   |                                | —    |   |   | 16,800 |   |
| As                  at November 30, 2004                                    |   |                                | 10,551,142 |   | $      | 8,991,903 |   |

**Share        subscriptions**

|   | **Shares                  for Debt** |
|--------|--------------------------------------|

|   | In                  February 2004, the Company issued 84,583 common shares for debt                  at $0.24                  per share. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------|

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**WEALTH        MINERALS LTD.**

----

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| **7.** |   | **CAPITAL                  STOCK**(cont’d...) |
|--------|--------|-----------------------------------------------------|

**Shares        issued for property**

**Private        Placements**

|                                               |   |   |                             |   |   |                               |   |
|----------------------------------------------------|--------|--------|----------------------------------|--------|--------|------------------------------------|--------|
|                                               |   |   |                             |   |   |                               |   |
|                                               |   | 2004   |                             | 2003   |   | 2002                               |   |
| First                  placement during the year:  |   |   |                             |   |   |                               |   |   |   |   |
| Private                  placement proceeds        |   | $      | 204,000                          |   | $      | 30,000                             |   | $ | 195,500 |   |
| Number                  of units                   |   |   | 850,000                          |   |   | 62,500                             |   |   | 212,500 |   |
| Number                  of whole warrants          |   |   | 425,000                          |   |   | 62,500                             |   |   | 223,750 |   |
| Unit                  price                        |   | $      | 0.24                             |   | $      | 0.48                               |   | $ | 0.92 |   |
| Warrant                  exercise price            |   | $      | 0.35                             |   | $      | 0.60                               |   | $ | 1.20 |   |
| Warrant                  expiry date               |   |   | August                  26, 2005 |   |   | December                  3, 2004  |   |   | June                  5, 2004 |   |
|                                               |   |   |                             |   |   |                               |   |   |   |   |
| Second                  placement during the year: |   |   |                             |   |   |                               |   |   |   |   |
| Private                  placement proceeds        |   | $      | 675,000                          |   | $      | 67,500                             |   |   | n/a |   |
| Number                  of units                   |   |   | 2,500,000                        |   |   | 225,000                            |   |   |   |   |
| Number                  of whole warrants          |   |   | 1,250,000                        |   |   | 225,000                            |   |   |   |   |
| Unit                  price                        |   | $      | 0.27                             |   | $      | 0.30                               |   |   |   |   |
| Warrant                  exercise price            |   | $      | 0.35                             |   | $      | 0.42                               |   |   |   |   |
| Warrant                  expiry date               |   |   | March                  15, 2006  |   |   | November                  14, 2005 |   |   |   |   |
|                                               |   |   |                             |   |   |                               |   |   |   |   |
| Third                  placement during the year:  |   |   |                             |   |   |                               |   |   |   |   |
| Private                  placement proceeds        |   | $      | 1,625,400                        |   |   | n/a                                |   |   | n/a |   |
| Number                  of units                   |   |   | 3,010,000                        |   |   |                               |   |   |   |   |
| Number                  of whole warrants          |   |   | 1,505,000                        |   |   |                               |   |   |   |   |
| Unit                  price                        |   | $      | 0.54                             |   |   |                               |   |   |   |   |
| Warrant                  exercise price            |   | $      | 0.80                             |   |   |                               |   |   |   |   |
| Warrant                  expiry date               |   |   | May                  14, 2006    |   |   |                               |   |   |   |   |
|                                               |   |   |                             |   |   |                               |   |   |   |   |
| Fourth                  placement during the year: |   |   |                             |   |   |                               |   |   |   |   |
| Private                  placement proceeds        |   | $      | 1,045,000                        |   |   | n/a                                |   |   | n/a |   |
| Number                  of units                   |   |   | 1,306,250                        |   |   |                               |   |   |   |   |
| Number                  of whole warrants          |   |   | 1,306,250                        |   |   |                               |   |   |   |   |
| Unit                  price                        |   | $      | 0.80                             |   |   |                               |   |   |   |   |
| Warrant                  exercise price            |   | $      | 1.00                             |   |   |                               |   |   |   |   |
| Warrant                  expiry date               |   |   | March                  7, 2006   |   |   |                               |   |   |   |   |

----

**WEALTH        MINERALS LTD.**

----

----

| **7.** |   | **CAPITAL                  STOCK**(cont’d...) |
|--------|--------|-----------------------------------------------------|

**Private        Placements **

** **

**Escrow        shares **

----

**WEALTH        MINERALS LTD.**

----

----

| **7.** |   | **CAPITAL                  STOCK**(cont’d...) |
|--------|--------|-----------------------------------------------------|

**Warrants**

|                                            |   |   |      |   |   |    |   |
|-------------------------------------------------|--------|--------|-----------|--------|--------|---------|--------|
|                                            |   |   |      |   |   |    |   |
|                                            |   | 2004   |      | 2003   |   | 2002    |   |
| Outstanding,                  beginning of year |   |   | 462,917   |   |   | 216,042 |   |   | — |   |
|                                            |   |   |      |   |   |    |   |   |   |   |
| Issued-                  exercisable at $0.48   |   |   | —   |   |   | — |   |   | 337,500 |   |
| Exercised                  at $0.48             |   |   | —   |   |   | — |   |   | (325,000 | ) |
| Expired                                         |   |   | —   |   |   | (12,500 | )      |   | — |   |
|                                            |   |   |      |   |   |    |   |   |   |   |
| Issued-                  exercisable at $1.20   |   |   |      |   |   |    |   |   | 223,750 |   |
| Exercised                  at $1.20             |   |   | (59,500   | )      |   | (28,125 | )      |   | (20,208 | ) |
| Expired                                         |   |   | (115,917  | )      |   | — |   |   | — |   |
|                                            |   |   |      |   |   |    |   |   |   |   |
| Issued-                  exercisable at $0.60   |   |   | —   |   |   | 62,500  |   |   | — |   |
| Exercised                  at $0.60             |   |   | (62,500   | )      |   | — |   |   | — |   |
|                                            |   |   |      |   |   |    |   |   |   |   |
| Issued-                  exercisable at $0.42   |   |   | —   |   |   | 225,000 |   |   | — |   |
|                                            |   |   |      |   |   |    |   |   |   |   |
| Issued-                  exercisable at $0.35   |   |   | 425,000   |   |   | — |   |   | — |   |
|                                            |   |   |      |   |   |    |   |   |   |   |
| Issued-                  exercisable at $0.35   |   |   | 1,250,000 |   |   | — |   |   | — |   |
| Exercised                  at $0.35             |   |   | (150,000  | )      |   | — |   |   | — |   |
|                                            |   |   |      |   |   |    |   |   |   |   |
| Issued-                  exercisable at $0.80   |   |   | 1,505,000 |   |   | — |   |   | — |   |
|                                            |   |   |      |   |   |    |   |   |   |   |
| Issued-                  exercisable at $1.00   |   |   | 1,306,250 |   |   | — |   |   | — |   |
|                                            |   |   |      |   |   |    |   |   |   |   |
| Outstanding,                  end of year       |   |   | 4,561,250 |   |   | 462,917 |   |   | 216,042 |   |

|                                    |                                |                                 |
|-----------------------------------------|-------------------------------------|--------------------------------------|
|                                    |                                |                                 |
| Number                      of Warrants | Exercise                      Price | Expiry                    Date       |
|                                    |                                |                                 |
|                       425,000 | $0.35                               | August                    26, 2005   |
|                       225,000 | $0.42                               | November                    14, 2005 |
| 1,306,250                               | $1.00                               | March                    7, 2006     |
| 1,100,000                               | $0.35                               | March                    15, 2006    |
| 1,505,000                               | $0.80                               | May                    14, 2006      |
| 4,561,250                               |                                |                                 |

----

**WEALTH        MINERALS LTD.**

----

----

| **7.** |   | **CAPITAL                  STOCK**(cont’d...) |
|--------|--------|-----------------------------------------------------|

|                                  |                              |                               |
|---------------------------------------|-----------------------------------|------------------------------------|
|                                  |                              |                               |
| Number                    of Warrants | Exercise                    Price | Expiry                  Date       |
|                                  |                              |                               |
| 175,417                               | $1.20                             | June                  5, 2004      |
|                    62,500        | $0.60                             | December                  3, 2004  |
| 225,000                               | $0.42                             | November                  14, 2005 |
| 462,917                               |                              |                               |

|                                                     |                              |                              |
|----------------------------------------------------------|-----------------------------------|-----------------------------------|
|                                                     |                              |                              |
| Number                    of                    Warrants | Exercise                    Price | Expiry                  Date      |
|                                                     |                              |                              |
|   12,500                                       | $0.48                             | October                  10, 2003 |
| 203,542                                                  | $1.20                             | June                  5, 2004     |
| 216,042                                                  |                              |                              |

| **8.** |   | **CONTRIBUTED                  SURPLUS** |
|--------|--------|------------------------------------------|

|                                               |   |   |    |   |   |
|----------------------------------------------------|--------|--------|---------|--------|--------|
|                                          |   | 2004   |    | 2003   |   |
| Balance                  - beginning of year       |   | $      | — |   | $      | — |   |
| Stock-based                  compensation (Note 9) |   |   | 549,360 |   |   | — |   |
| Stock                  options exercised           |   |   | (16,800 | )      |   | — |   |
| Balance                  - end of year             |   | $      | 532,560 |   | $      | — |   |

| **9.** |  | **STOCK                  OPTION PLAN AND STOCK-BASED                  COMPENSATION** |
|--------|--|--------------------------------------------------------------------------------------|

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**WEALTH        MINERALS LTD.**

----

----

| **9.** |   | **STOCK                  OPTION PLAN AND STOCK-BASED COMPENSATION**(cont’d...) |
|--------|--------|--------------------------------------------------------------------------------------|

|                                     |   |                                                                       |                                                   |
|------------------------------------------|--------|----------------------------------------------------------------------------|--------------------------------------------------------|
|                                     |   | Options                  granted on January                  29, 2004 | Options                  granted on September 29, 2004 |
|                                     |   |                                                                       |                                                   |
| Risk                  free interest rate |   | 2.5%                                                                       | 3.22%                                                  |
| Expected                  life           |   | 2                  years                                                   | 2                  years                               |
| Expected                  volatility     |   | 136%                                                                       | 165%                                                   |
| Expected                  dividends      |   | —                                                                    | —                                                |

|   | The                  Company, in accordance with the policies of the TSX Venture Exchange,                  is                  authorized to grant options to directors, employees and consultants,                  up to                  10% of issued and outstanding common stock. The exercise price                  of each                  option is not less than the average market price of the Company’s stock as                  calculated over the ten trading days preceding the date of grant,                  and may                  also be set at a higher price. The options can be granted for a                  maximum                  term of 5 years. The consolidation of the Company’s outstanding options on                  a one new for every four old basis on January 14, 2004, and the                  repricing                  of all consolidated options to $0.25 per share on February 24,                  2004, have                  been applied on a retroactive basis. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                  following incentive stock options are outstanding at November 30,                  2004: |
|--------|---------------------------------------------------------------------------------------------------------------|

|                                |                              |                                |
|-------------------------------------|-----------------------------------|-------------------------------------|
|                                |                              |                                |
| Number                    of Shares | Exercise                    Price | Expiry                  Date        |
|                                |                              |                                |
|   20,000                  | $0.25                             | January                  29, 2009   |
| 900,000                             | $0.70                             | September                  29, 2006 |

|   | After                  adjusting for the repricing of options approved by the TSX Venture                  Exchange on February 24, 2004, the following incentive stock options                  were                  outstanding at November 30, 2003: |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                |                              |                               |
|-------------------------------------|-----------------------------------|------------------------------------|
|                                |                              |                               |
| Number                    of Shares | Exercise                    Price | Expiry                  Date       |
|                                |                              |                               |
| 51,250                              | $0.25                             | February                  27, 2007 |
| 43,750                              | $0.25                             | January                  24, 2007  |

----

**WEALTH        MINERALS LTD.**

----

----

| **10.** |   | **RELATED                  PARTY TRANSACTIONS** |
|---------|--------|-------------------------------------------------|

|   | a) | The                  Company paid $nil (2003 - $nil; 2002 - $31,400) to directors or                  companies                  controlled by directors for geological services which have been                  expensed                  as acquisition, exploration, and development                  costs; |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b) | The                  Company paid $152,500 (2003 - $60,000; 2002 - $60,000) in consulting                  fees                  to Company directors, and $4,000 (2003 - $nil; 2002 - $nil) to                  an                  officer; |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c) | Amounts                  due to related parties of $25,525 is comprised of $8,720 (2003                  - $3,000;                  2002 - $nil) to directors and officers for consulting, $2,461 (2003                  -                  $nil; 2002 - $nil) to Cardero Resource Corp. (a public company                  related by                  a common director) for rent and administration, $14,284 to directors                  for                  expense reimbursements, and $nil (2003 - $5,333; 2002 - $nil) to                  a company                  controlled by a director for office                  rent; |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d) | Advances                  receivable of $nil (2003 - $5,350; 2002 - $nil) were short term                  expense                  advances to a company controlled by a                  director; |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | e) | Share                  subscriptions include $11,875 due from a director for options exercised                  and $5,000 due from the corporate secretary for options exercised.                  Both                  amounts were paid subsequent to year-end (Notes 7 and                  14); |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | f) | Directors                  participated in private placements during the year as                  follows: |
|--|----|------------------------------------------------------------------------------------------------------------|

| i)   | Two                  directors subscribed for 300,000 units each at $0.24 per                  unit. |
|----------------|------------------------------------------------------------------------------------------------------|

| ii)   | A                  director subscribed for 150,000 units at $0.27 per                  unit. |
|-----------------|----------------------------------------------------------------------------------------------|

| iii)   | A                  director (indirectly) subscribed for 200,000 units and another                  director                  subscribed for 15,000 units at $0.54 per                  unit. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | g) | Amounts                  due to affiliated company of $nil (2003 - $2,594) are unsecured,                  non-interest bearing, with no fixed terms of repayment. The affiliated                  company, Indico Technologies Ltd. (“Indico”), a TSX Venture Exchange                  listed company, is related by two common directors. Indico has                  forfeited                  its receivable from the Company, and the Company has recorded a                  gain on                  the cancellation of the payable of                  $2,594. |
|--|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | All                  transactions with related parties have occurred in the normal course                  of                  operations and are measured at the exchange amount, which is the                  amount of                  consideration established and agreed upon by the related parties                  (see Note                  3). |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**WEALTH        MINERALS LTD.**

----

----

| **11.** |   | **INCOME                  TAXES** |
|---------|--------|-----------------------------------|

|  | a) | Income                  tax provision |
|--|----|---------------------------------------|

|   |   | A                  reconciliation of the income tax benefit (provisions) with amounts                  determined by applying the combined Canadian federal and provincial                  income                  tax rates of 35.79% (2003 - 37.79%) to the consolidated loss as                  follows: |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                  |   |       |       |       |   |
|-----------------------------------------------------------------------|--------|------------|------------|------------|--------|
|                                                                  |   |  2004 |       |  2003 |   |
|                                                                  |   |       |       |       |   |
| Net                  loss for the year                                |   | $          | (1,630,322 | )          | $      | (263,199 | ) |
|                                                                  |   |       |       |       |   |   |   |
| Income                  tax recovery at combined basic Canadian       |   |       |       |       |   |   |   |
| federal                  and provincial tax rate:                     |   |       | 583,476    |       |   | 99,462 |   |
| Foreign                  tax rates differentials                      |   |       | (4,143     | )          |   | (12,000 | ) |
| Tax                  benefit of losses not recognized in current year |   |       | (579,333   | )          |   | (87,462 | ) |
| Income                  tax recovery                                  |   | $          | —    |       | $      | — |   |

|  | b) | Future                  income taxes |
|--|----|--------------------------------------|

|   |   | The                  tax effects of temporary differences that give rise to significant                  components of future income tax assets and liabilities by applying                  the                  combined Canadian federal and provincial income tax rates of 35.79%                  (2003                  - 37.79%) are as follows: |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                      |   |       |       |       |   |
|-----------------------------------------------------------|--------|------------|------------|------------|--------|
|                                                      |   |  2004 |       |  2003 |   |
|                                                      |   |       |       |       |   |
| Future                  income tax:                       |   |       |       |       |   |   |   |
| Property,                  plant and equipment            |   | $          | 5,969      |       | $      | 5,400 |   |
| Exploration                  and development expenditures |   |       | 620,589    |       |   | 484,000 |   |
| Issuance                  costs                           |   |       | 209,232    |       |   | 99,000 |   |
| Losses                  available for future periods      |   |       | 1,038,433  |       |   | 939,000 |   |
|                                                      |   |       | 1,874,223  |       |   | 1,527,400 |   |
| Valuation                  allowance                      |   |       | (1,874,223 | )          |   | (1,527,400 | ) |
|                                                      |   | $          | —    |       | $      | — |   |

|   | The                  above losses available for future periods include US operating                  losses by                  applying the income tax rates of 34% (2003 - 34%). These tax benefits                  have                  not been recognized in the consolidated financial statements, as                  there is                  no certainty that they will be                  utilized. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**WEALTH        MINERALS LTD.**

----

----

| **11.** |  | **INCOME                  TAXES**(cont’d...) |
|---------|--|----------------------------------------------------|

|   | Subject                  to certain restrictions, the Company has exploration and development                  expenditures of approximately $1,734,023 (2003: $1,277,000) and                  operating                  losses of approximately $1,913,822 (2003: $1,399,500) available                  to reduce                  future Canadian taxable income. The Company also has operating                  losses from                  a US subsidiary of approximately $1,039,691 (2003: $1,207,200)                  available                  to reduce US taxable income. These losses expire as                  follows: |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|       |   |   |      |   |   |
|------------|--------|--------|-----------|--------|--------|
|  Year |   | Canada |      | U.S.   |   |
|       |   |   |      |   |   |
| 2005       |   | $      | 147,822   |   | $      | — |   |
| 2006       |   |   | 283,378   |   |   | — |   |
| 2007       |   |   | 243,750   |   |   | — |   |
| 2008       |   |   | 210,167   |   |   | — |   |
| 2009       |   |   | 254,374   |   |   | — |   |
| 2010       |   |   | 235,356   |   |   | — |   |
| 2014       |   |   | 538,975   |   |   | — |   |
| 2018       |   |   | —   |   |   | 532,131 |   |
| 2019       |   |   | —   |   |   | 259,084 |   |
| 2020       |   |   | —   |   |   | 171,507 |   |
| 2021       |   |   | —   |   |   | 34,760 |   |
| 2022       |   |   | —   |   |   | 5,265 |   |
| 2023       |   |   | —   |   |   | 18,783 |   |
| 2024       |   |   | —   |   |   | 18,161 |   |
|       |   | $      | 1,913,822 |   | $      | 1,039,691 |   |

----

**WEALTH        MINERALS LTD.**

----

----

| **12.** |   | **CASH                      FLOWS FROM OPERATING                      ACTIVITIES** |
|---------|--------|------------------------------------------------------------------------------------|

| a)   | Items                  not affecting cash: |
|----------------|--------------------------------------------|

|                                                                                |   |                                                                                                          |      |                                                  |   |
|-------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------|-----------|-------------------------------------------------------|--------|
|                                                                                |   |  CumulativeAmounts                  fromOctober                  7, 1994To                  November 30, |      |   Years                  Ended November 30, |   |
|                                                                                |   | 2004                                                                                                          |      | 2004                                                  |   | 2003 |   | 2002 |   |
|                                                                                |   |                                                                                                          |      |                                                  |   |   |   |   |   |
| Amortization                                                                        |   | $                                                                                                             | 24,739    |                                                  | $      | 2,438 |   | $ | 2,974 |   | $ | 3,047 |   |
| Investment                  income                                                  |   |                                                                                                          | (27,565   | )                                                     |   | — |   |   | — |   |   | — |   |
| Gain                  on sale of marketable securities                              |   |                                                                                                          | (100,703  | )                                                     |   | — |   |   | — |   |   | — |   |
| Loss                  on disposal of property, plant                  and equipment |   |                                                                                                          | 7,189     |                                                  |   | — |   |   | — |   |   | — |   |
| Impairment                  of mineral properties                                   |   |                                                                                                          | 1,100,722 |                                                  |   | — |   |   | — |   |   | — |   |
| Stock-based                  compensation                                           |   |                                                                                                          | 549,360   |                                                  |   | 549,360 |   |   | — |   |   | — |   |
| Write-down                  of marketable securities                                |   |                                                                                                          | 374,526   |                                                  |   | — |   |   | — |   |   | — |   |
| Write-down                  of investments                                          |   |                                                                                                          | 272,964   |                                                  |   | 27,564 |   |   | — |   |   | — |   |
|                                                                                |   | $                                                                                                             | 2,201,232 |                                                  | $      | 579,362 |   | $ | 2,974 |   | $ | 3,047 |   |

| b)   | Changes                  in non-cash working capital items: |
|----------------|-------------------------------------------------------------|

|                                                                                                               |   |                                                                                                    |     |                                                        |   |
|--------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------|----------|-------------------------------------------------------------|--------|
|                                                                                                               |   | CumulativeAmounts                  fromOctober                  7, 1994To                  November 30, |     |    Years                  Ended November 30, |   |
|                                                                                                               |   | 2004                                                                                                    |     | 2004                                                        |   | 2003 |   | 2002 |   |
|                                                                                                               |   |                                                                                                    |     |                                                        |   |   |   |   |   |
| (Increase)                  decrease in receivables                                                                |   | $                                                                                                       | (16,978  | )                                                           | $      | (13,985 | ) | $ | 4,176 |   | $ | 8,817 |   |
| (Increase)                  decrease in prepaid                  expenses                                          |   |                                                                                                    | (181,246 | )                                                           |   | (175,171 | ) |   | 4,939 |   |   | (4,784 | ) |
| Decrease                  in due from related Parties                                                              |   |                                                                                                    | —  |                                                        |   | 5,350 |   |   | (5,350 | ) |   | — |   |
| (Increase)                  decrease in due to related                  parties                                    |   |                                                                                                    | 25,525   |                                                        |   | 25,525 |   |   | — |   |   | — |   |
| Increase                  (decrease) in accounts                  payable and accrued                  liabilities |   |                                                                                                    | 155,532  |                                                        |   | 27,750 |   |   | 19,657 |   |   | (1,935 | ) |
| Decrease                  in due to affiliated Company                  Increase                  (decrease)       |   |                                                                                                    | —  |                                                        |   | (2,594 | ) |   | — |   |   | — |   |
|                                                                                                               |   | $                                                                                                       | (17,167  | )                                                           | $      | (133,125 | ) | $ | 23,422 |   | $ | 2,098 |   |

----

**WEALTH        MINERALS LTD.**

----

----

| **13.** |      | **CONTINGENCIES                  AND COMMITMENTS** |
|---------|--------------------------|----------------------------------------------------|

|  | a) | The                  Company has entered into a month to month office lease arrangement                  with no                  annual lease commitments. |
|--|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b) | On                  September 17, 2004, the Company entered into a contract with the                  President                  of the Company, at a rate of $108,000 per annum, subject to a six                  month                  review by the Board. The President is entitled to 200,000 stock                  options                  with an option price of $0.70 expiring September 29, 2006 whereby                  50,000                  will vest after six months, and the balance will vest over the                  ensuing six                  month period. At the six month anniversary review, either the Board                  or the                  President can elect to terminate the contract with a payment of                  one year’s                  salary as severance. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c) | On                  September 24, 2004, the Company entered into an agreement with                  Corporate                  Development Associates, a private US investor relations company,                  to                  perform marketing and promotion services. Included in prepaid expenses                  is                  a deposit of US$125,000 (CDN$160,975) for these services. Depending                  on the                  scope of services provided, additional payments may be                  due. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d) | All                  phases of the Company’s operations are subject to environmental                  regulations. Environmental legislation, in the countries in which                  the                  Company performs exploration work, is evolving in a manner which                  will                  require stricter standards and enforcement, increased fines and                  penalties                  for non-compliance, more stringent environmental assessments of                  proposed                  projects and heightened degree of responsibilities for companies                  and their                  officers, directors and employees. Presently, compliance with such                  laws is                  not a significant factor in the Company’s operations, and there is no                  assurance that future changes in environmental regulations, if                  any, will                  not adversely affect the Company’s                  operations. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | e) | As                  at November 30, 2004, the Company has the following mineral property                  commitments over the next two                  years: |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                              |   |     |    |     |   |          |     |
|---------------------------------------------------|--------|----------|---------|----------|--------|---------------|----------|
|                                              |   | Peru     |    | U.S.     |   |
|                                              |   | Non-Cash |    | Cash     |   | Cash          |     |
| 2005                                              |   |     |    |     |   |          |     |   |   |   |
| Number                  of common shares to issue |   |     | 200,000 |     |   |          |     |   | — |   |
|                                              |   |     |    |     |   |          |     |   |   |   |
| Annual                  maintenance fees and dues |   |     |    |  US | $      |  — |  US | $ |  3,071 |   |
| Exploration                                       |   |     | — |     |   | 200,000       |     |   | — |   |
|                                              |   |     |    |     |   |          |     |   |   |   |
| 2006                                              |   |     |    |     |   |          |     |   |   |   |
| Annual                  maintenance fees and dues |   |     |    |     |   | —       |     |   | 3,071 |   |
| Exploration                                       |   |     |    |     |   | 500,000       |     |   | — |   |
|                                              |   |     | 200,000 |  US | $      | 700,000       |  US | $ | 6,142 |   |

----

**WEALTH        MINERALS LTD.**

----

----

| **14.** |      | **SUBSEQUENT                  EVENTS** |
|---------|--------------------------|----------------------------------------|

|  | a) | On                  December 7, 2004 the Company announced that it had entered into                  a letter                  of intent with Minera San Jorge S.A. de C.V. (“MSJ”), a Mexican                  corporation, for an exclusive due diligence period and right of                  first                  refusal to acquire a 60% interest in two exploration projects,                  one in the                  State of Jalisco, Mexico, and the other in Columbia. Under the                  letter of                  intent, the Company can acquire: |
|--|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| i)   | a                  60% interest in the Mexican project for a payment to MSJ of US$350,000;                  and |
|----------------|-----------------------------------------------------------------------------------------------------------------|

| ii)   | a                  60% interest in the Columbian project (referred to as the Sur de                  Bolivar                  Projects) for a payment to MSJ of US$250,000 (disclaimed February                  28,                  2005. See below). |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | On                  February 28, 2005, the Company announced that it had elected to                  not pursue                  a property position through MSJ in Columbia. The Company also announced                  that the secured payment of US$150,000 to guarantee exclusive due                  diligence and right of first refusal on the projects would remain                  in                  escrow, pending a property acquisition decision in                  Mexico. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | b) | On                  February 7, 2005, 20,000 options were exercised and paid for by                  a former                  director at $0.25 per share for total proceeds of                  $5,000. |
|--|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | c) | On                  February 28, 2005, the Company announced the signing of a letter                  agreement                  with Brett Resources Inc. (“Brett”) for the right to acquire a 60%                  interest in a 47km2                  exploration license in eastern El Salvador covering the surface                  exposure                  of a potential low sulfidation epithermal gold-silver vein system.                  The                  terms of the letter agreement require both parties to enter into                  a formal                  binding agreement. The agreement is subject to approval by the                  TSX Venture                  Exchange and the board of directors. The Company can earn a 60%                  interest                  in the property by issuing 100,000 shares, and, over a five year                  period,                  paying US$200,000 to Brett and incurring US$2,000,000 on exploration.                  The                  amounts are spread out in an escalating fashion over the five year                  period.                  On signing the formal agreement, the Company will pay Brett US$20,000                  and                  issue 50,000 common shares. The Company plans to complete a drill                  program                  as part of the first year’s US$200,000 work                  commitment. |
|--|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | d)                   | All                  share subscriptions receivable of $30,375 were received subsequent                  to year                  end. |
|--|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------|

----

**WEALTH        MINERALS LTD.**

----

----

| **15.  ** | **SEGMENTED                  INFORMATION** |
|---------------------|--------------------------------------------|

|   | The                  Company operates in a single industry segment, mineral acquisition,                  exploration and development. As the Company expenses its acquisition,                  exploration, and development costs, no assets outside of Canada                  are shown                  on the balance sheet. Thus, no capital asset geographic segment                  disclosure                  is made here. However, significant losses due to mineral property                  expenses                  are incurred outside of Canada. Consequently, the following segmented                  information is provided: |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                           |   |       |       |       |   |          |   |
|------------------------------------------------|--------|------------|------------|------------|--------|---------------|--------|
|                                           |   |  2004 |       |  2003 |   |  2002    |   |
|                                           |   |       |       |       |   |          |   |   |   |   |
| Net                  loss for the year- Canada |   | $          | (1,126,060 | )          | $      | (235,416      | )      | $ | (257,421 | ) |
| Net                  loss for the year- Peru   |   |       | (484,847   | )          |   |  — |   |   |  — |   |
| Net                  loss for the year- US     |   |       | (19,415    | )          |   | (27,783       | )      |   | (57,664 | ) |
| Consolidated                  net loss         |   | $          | (1,630,322 | )          | $      | (263,199      | )      | $ | (315,085 | ) |

| 16.   | **COMPARATIVE                  FIGURES** |
|-----------------|------------------------------------------|

|   | Certain                  comparative figures have been reclassified to conform to the financial                  statement presentation adopted in the current                  year. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **17.** | **UNITED                  STATES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES**(cont’d...) |
|---------|----------------------------------------------------------------------------------------------|

|   | These                  consolidated financial statements have been prepared in accordance                  with                  generally accepted accounting principles in Canada. Except as set                  out                  below, these consolidated financial statements also comply, in                  all                  material respects, with accounting principles generally accepted                  in the                  United States and the rules and regulations of the Securities and                  Exchange                  Commission. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Stock-Based        Compensation**

|   | The                  United States Financial Accounting Standards Board has issued Accounting                  Principles Board Opinion No. 25, Accounting for Stock Issued to                  Employees                  (“APB25”). This statement uses the intrinsic value based method whereby                  compensation cost is recorded for the excess, if any, of the quoted                  market                  price over the exercise price, at the date the stock options are                  granted.                  As at November 31, 2003, no compensation cost would have been recorded                  for                  any period under this method. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Statement                  of Financial Accounting Standards No. 123, “Accounting for Stock Based                  Compensation” (“SFAS 123”), issued in October 1995, requires the use of                  the fair value based method of accounting for stock options. Under                  this                  method, compensation cost is measured at the grant date based on                  the fair                  value of the options granted and is recognized over the exercise                  period.                  SFAS 123 allows the Company to continue to measure the compensation                  cost                  of employees and directors in accordance with APB 25. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**WEALTH        MINERALS LTD.**

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**Stock-Based        Compensation**

|   | Prior                  to 2004, Canadian generally accepted accounting principles did                  not require                  the reporting of any stock based compensation expense in the Company’s                  consolidated financial statements. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                  Company uses the Black-Scholes Option Pricing Model to determine                  the fair                  value of incentive stock options at the grant date. As at November                  30,                  2004, cumulative compensation expense totaling $882,671 (2003 -                  $350,111;                  2002 - $342,311) has been incurred. Cumulative compensation expense                  does                  not include the value of options granted and subsequently forfeited                  or                  exercised. In determining the fair value of the incentive stock                  options,                  the following assumptions, on a weighted average basis, were                  used: |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                     |                                              |                                              |                                              |
|------------------------------------------|---------------------------------------------------|---------------------------------------------------|---------------------------------------------------|
|                                | 2004                                              | 2003                                              | 2002                                              |
|                                     |                                              |                                              |                                              |
| Risk                  free interest rate | 3.19%                                             | 1.50%                                             | 1.72%                                             |
| Expected                  life           | 2                  years                          | 2                  years                          | 5                  years                          |
| Expected                  volatility     | 164%                                              | 102%                                              | 102%                                              |
| Expected                  dividends      | —                       | —                       | —                       |

|                                                                  |                     |                                                             |                               |                                 |
|-----------------------------------------------------------------------|--------------------------|------------------------------------------------------------------|------------------------------------|--------------------------------------|
|                                                                  |                     |  Outstanding                  Options                       |                               | Exercisable                  Options |
|   Range                  ofExercise                  Prices |    Number | WeightedAverageRemainingContractualLife                  (Years) |  WeightedAverageExercisePrice |                                 |    Number |  WeightedAverageExercisePrice |
|                                                                  |                     |                                                             |                               |                                 |   |   |
| $0.25                                                                 | 20,000                   | 4.25                                                             | $0.25                              |                                 |                    20,000 | $0.25 |
| $0.70                                                                 | 900,000                  | 1.75                                                             | $0.70                              |                                 | 750,000 | $0.70 |

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**WEALTH        MINERALS LTD.**

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| **17.** | **UNITED                      STATES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES**(cont’d...) |
|---------|--------------------------------------------------------------------------------------------------|

|                                                              |   |                       |     |           |   |
|-------------------------------------------------------------------|--------|----------------------------|----------|----------------|--------|
|                                                              |   |                       |     |  Weighted |   |
|                                                              |   |                       |     | Average        |   |
|                                                              |   | Number                     |     | Exercise       |   |
|                                                              |   | of                  Shares |     | Price          |   |
|                                                              |   |                       |     |           |   |   |   |
| Outstanding                  and exercisable at November 30, 2001 |   |                       | 50,500   |           | $      | 7.40 |   |
|                                                              |   |                       |     |           |   |   |   |
| Granted                                                           |   |                       | 126,250  |           |   | 0.68 |   |
| Exercised                                                         |   |                       | (18,750  | )              |   | 0.68 |   |
| Forfeited                                                         |   |                       | (50,500  | )              |   | 7.40 |   |
|                                                              |   |                       |     |           |   |   |   |
| Outstanding                  and exercisable at November 30, 2002 |   |                       | 107,500  |           |   | 0.68 |   |
|                                                              |   |                       |     |           |   |   |   |
| Granted                                                           |   |                       | 50,000   |           |   | 0.96 |   |
| Exercised                                                         |   |                       | (56,250  | )              |   | 0.68 |   |
| Exercised                                                         |   |                       | (6,250   | )              |   | 0.96 |   |
|                                                              |   |                       |     |           |   |   |   |
| Outstanding                  and exercisable at November 30, 2003 |   |                       | 95,000   |           |   | 0.80 |   |
|                                                              |   |                       |     |           |   |   |   |
| Forfeited                                                         |   |                       | (16,250  | )              |   | 0.68 |   |
|                                                              |   |                       |     |           |   |   |   |
| Repricing                  of all options- February 24, 2004      |   |                       | 78,750   |           |   | 0.25 |   |
|                                                              |   |                       |     |           |   |   |   |
| Granted                                                           |   |                       | 120,000  |           |   | 0.25 |   |
| Granted                                                           |   |                       | 900,000  |           |   | 0.70 |   |
| Exercised                                                         |   |                       | (178,750 | )              |   | 0.25 |   |
|                                                              |   |                       |     |           |   |   |   |
| Outstanding                  and exercisable at November 30, 2004 |   |                       | 920,000  |           | $      | 0.69 |   |

**Income        taxes**

|   | The                  Company accounts for income taxes in accordance with Statement                  of                  Financial Accounting Standards No. 109, “Accounting for Income Taxes”                  (“SFAS No. 109”). SFAS No. 109 requires a company to recognize deferred                  tax assets and liabilities for the expected future tax consequences                  of                  events that have been recognized in a company’s financial statements.                  Under this method, deferred tax assets and liabilities are determined                  based on temporary differences between the tax rates in effect                  in the                  years when the temporary differences are expected to                  reverse. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Mineral        properties**

|   | The                  Company’s policy of expensing acquisition, exploration and development                  costs except in the case where an outright property interest has                  been                  acquired has resulted in an accounting treatment for these costs                  which the                  Company considers to be, in substance, congruent with US generally                  accepted accounting principles. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**WEALTH        MINERALS LTD.**

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| **17.** | **UNITED                  STATES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES**(cont’d...) |
|---------|----------------------------------------------------------------------------------------------|

**Trading        securities and available-for-sale securities**

|   | Under                  Canadian generally accepted accounting principles, marketable securities                  are recorded at the lower of cost or quoted market value. Long-term                  investments are recorded at cost and only written down when there                  is                  evidence of a decline in value below carried value that is other                  than                  temporary. Holding gains are never                  recognized. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Under                  Statement of Financial Accounting Standards No. 115, “Accounting for                  Certain Investments in Debt and Equity Securities” (“SFAS No. 115”),                  unrealized holding gains and losses for trading securities are                  included in                  statements of operations. Temporary unrealized holding gains and                  losses                  for available-for-sale securities are excluded from statements                  of                  operations and reported as a net amount in a separate component                  of                  shareholders’ equity until                  realized. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | **Comprehensive                  Income** |
|--------|-------------------------------------------|

|   | SFAS                  No. 130, “Reporting Comprehensive Income”, addresses standards for the                  reporting and display of comprehensive income and its                  components. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Comprehensive                  income includes net income and other comprehensive income. Other                  comprehensive income represents revenues, expenses, gains and losses                  that                  are excluded from net income under United States generally accepted                  accounting principles. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | For                  the years ended November 30, 2004, 2003 and 2002, there were no                  other                  items of comprehensive income. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Loss        per share**

|   | SFAS                  No. 128 “Earnings Per Share” simplifies the computation of (loss) per                  share by replacing the presentation of primary earnings per share                  with a                  presentation of basic earnings (loss) per share, as defined. The                  statement                  requires dual presentation of basic and diluted earnings (loss)                  per share                  by entities with complex capital structures. Basic earnings (loss)                  per                  share includes no dilution and is computed by dividing income available                  to                  common stockholders by the weighted average number of shares outstanding                  for the period. Diluted earnings per share reflect the potential                  dilution                  of securities that could share in the earnings of an entity similar                  to                  fully diluted earnings per share. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Recent        accounting pronouncements**

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**WEALTH        MINERALS LTD.**

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| **17.** | **UNITED                  STATES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES**(cont’d...) |
|---------|----------------------------------------------------------------------------------------------|

|                                                                                                                                                                      |   |                                                                                                          |       |                                            |   |       |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------|------------|-------------------------------------------------|--------|------------|--------|
|                                                                                                                                                                      |   |  Cumulativeamount                  fromOctober                  7, 1994 to November                  30, |       |  Years                  Ended November 30, |   |
|                                                                                                                                                                      |   | 2004                                                                                                          |       | 2004                                            |   | 2003       |   | 2002 |   |
|                                                                                                                                                                      |   |                                                                                                          |       |                                            |   |       |   |   |   |
| Loss                  for the period in accordance                  with Canadian generally                  accepted accounting                  principles, as reported |   | $                                                                                                             | (6,549,330 | )                                               | $      | (1,630,322 | )      | $ | (263,199 | ) | $ | (315,085 | ) |
| Less:Compensation                  expense -                  stock options                                                                                               |   |                                                                                                          | (350,111   | )                                               |   | —    |   |   | (7,800 | ) |   | (73,100 | ) |
| Loss                    for the period in accordance with United States generally accepted                    accounting principles                                       |   | $                                                                                                             | (6,899,441 | )                                               | $      | (1,630,322 | )      | $ | (270,999 | ) | $ | (388,185 | ) |

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**WEALTH        MINERALS LTD.**

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| **17.  ** | **UNITED                  STATES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES**(cont’d...) |
|---------------------|----------------------------------------------------------------------------------------------|

|   | The                  impact of the above differences between Canadian and United States                  generally accepted accounting principles on the consolidated statements                  of                  deficit, as reported, is as                  follows: |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                         |   |                                            |       |   |   |       |   |
|----------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|------------|--------|--------|------------|--------|
|                                                                                                                                         |   |  Years                  Ended November 30, |       |
|                                                                                                                                         |   | 2004                                            |       | 2003   |   | 2002       |   |
|                                                                                                                                         |   |                                            |       |   |   |       |   |
| Deficit                  in accordance with Canadian generally                  accepted accounting principles,                  as reported |   | $                                               | (6,549,330 | )      | $      | (4,919,008 | )      | $ | (4,655,809 | ) |
| Cumulative                  compensation expense -                  stock options                                                            |   |                                            | (350,111   | )      |   | (350,111   | )      |   | (342,311 | ) |
| Deficit                  in accordance with United States                  generally accepted accounting                  principles         |   | $                                               | (6,899,441 | )      | $      | (5,269,119 | )      | $ | (4,998,120 | ) |

|   |   |
|--------|--------|

|   | The                  impact of the above differences between Canadian and United States                  generally accepted accounting principles on the loss                  per share, as reported, is as                  follows: |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                                              |   |                                            |       |   |   |      |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|------------|--------|--------|-----------|--------|
|                                                                                                                                                                                              |   |  Years                  Ended November 30, |       |
|                                                                                                                                                                                              |   | 2004                                            |       | 2003   |   | 2002      |   |
|                                                                                                                                                                                              |   |                                            |       |   |   |      |   |
| Net                  loss for the period under United States                  generally accepted accounting                  principles                                                           |   | $                                               | (1,630,322 | )      | $      | (270,999  | )      | $ | (388,185 | ) |
| Weighted                    average number of shares outstanding                    under United States generally accepted accounting principles                    (adjusted for 2004 roll-back) |   |                                            | 6,732,969  |   |   | 1,908,609 |   |   | 1,428,195 |   |
| Basic                  loss per share                                                                                                                                                             |   | $                                               | (0.24      | )      | $      | (0.14     | )      | $ | (0.27 | ) |

|   | Diluted                  EPS has not been disclosed as the effect of the exercise of the                  Company’s                  outstanding options and warrants would be                  anti-dilutive. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**WEALTH        MINERALS LTD.**

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| **17.** | **UNITED                  STATES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES**(cont’d...) |
|---------|----------------------------------------------------------------------------------------------|

|   | The                  impact of the above differences between Canadian and United States                  generally accepted accounting principles on the statements of                  shareholders’ equity, as reported, is as                  follows: |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                            |   |                             |       |   |   |          |   |                          |    |        |   |    |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|------------|--------|--------|---------------|--------|-------------------------------|---------|-------------|--------|---------|--------|
|                                                                                                                                                            |   |                             |       |   |   |     |   |                          |    | Deficit     |   |    |   |
|                                                                                                                                                            |   |                             |       |   |   |          |   |                          |    | Accumulated |   |    |   |
|                                                                                                                                                            |   | Capital                    Stock |       |   |   | Additional    |   | during                    the |    |        |   |
|                                                                                                                                                            |   | Number                           |       |   |   | Subscriptions |   | Paid-In                       |    | Exploration |   |    |   |
|                                                                                                                                                            |   | of                    shares     |       | Amount |   | receivable    |   | Capital                       |    | Stage       |   | Total   |   |
|                                                                                                                                                            |   |                             |       |   |   |          |   |                          |    |        |   |    |   |
| Shareholders’                    equity as reported November 30,2002                                                                                      |   |                             | 1,771,434  |   | $      | 4,820,016     |   | $                             | — |        | $      | — |   | $ | (4,655,809 | ) | $ | 164,207 |   |
| Cumulative                      compensation expense - stock options                                                                                            |   |                             | —    |   |   | —       |   |                          | — |        |   | 342,311 |   |   | (342,311 | ) |   | — |   |
| Shareholders’                    equity in accordance with United States generally accepted accounting                    principles at November 30, 2002 |   |                             | 1,771,434  |   |   | 4,820,016     |   |                          | — |        |   | 342,311 |   |   | (4,998,120 | ) |   | 164,207 |   |
| Shareholders’                    equity as reported November 30, 2003                                                                                     |   |                             | 2,149,559  |   |   | 4,995,516     |   |                          | — |        |   | — |   |   | (4,919,008 | ) |   | 76,508 |   |
| Cumulative                    compensation expense - stock options                                                                                              |   |                             | —    |   |   | —       |   |                          | — |        |   | 350,111 |   |   | (350,111 | ) |   | — |   |
| Shareholders’                    equity in accordance with United States generally accepted accounting                    principles at November 30, 2003 |   |                             | 2,149,559  |   |   | 4,995,516     |   |                          | — |        |   | 350,111 |   |   | (5,269,119 | ) |   | 76,508 |   |
| Shareholders’                    equity as reported November 30, 2004                                                                                     |   |                             | 10,551,142 |   |   | 8,991,903     |   |                          | (30,375 | )           |   | 532,560 |   |   | (6,549,330 | ) |   | 2,944,758 |   |
| Cumulative                      compensation expense - stock options                                                                                            |   |                             | —    |   |   | —       |   |                          | — |        |   | 350,111 |   |   | (350,111 | ) |   | — |   |
| Shareholders’                    equity in accordance with United States generally accepted accounting                    principles at November 30, 2004 |   |                             | 10,551,142 |   | $      | 8,991,903     |   | $                             | (30,375 | )           | $      | 882,671 |   | $ | (6,899,441 | ) | $ | 2,944,758 |   |

**ITEM        19.    **
**EXHIBITS**

**Exhibit        Number **
** **

|                               |                                                                                                                                                                                     | **Page** |
|------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
| 1.1                                | Certificates                    of Name Change dated July 18, 1996 and October 17, 1996.                                                                                                 | *        |
| 1.2                                | Certificate                    of Incorporation dated October 7, 1994.                                                                                                                   | *        |
| 1.3                                | Articles                    (Bylaws) of the Corporation                                                                                                                                  | *        |
| 1.4                                | Amendments                    to Articles of the Corporation, dated July 18, 1996 and October                    16,                    1996                                             | *        |
| 1.5                                | Certificate                    of Name Change and Amendment to Articles of the Corporation dated                    August                    22, 2001                              | *        |
| 1.6                                | Certificate                    of Amendment and Name Change of the Corporation dated December                    12, 2003                                                           | *        |
| 2.1                                | Option                    Agreements between the Corporation and Management, Employees                    and                    Director.                                          | *        |
| 4.1                                | Mining                    Lease and Option Agreement between St. George Metals, Inc. and                    Triband                    Resource US Inc. dated June 29,1998               | *        |
| 4.2                                | Letter                    of Engagement dated February 18, 1997 between the Corporation                    and Timothy                    J. Percival.                              | *        |
| 4.3                                | Option                    Assignment Agreement between Minera Koripampa del Peru S.A. and                    Wealth                    Minerals dated July 6, 2004                  | *        |
| 4.4                                | Property                    Agreement, MacKenzie Property                                                                                                                           | **       |
| 4.5                                | Employment                    Agreement, Gary Freeman                                                                                                                               | **       |
| 4.6                                | Employment                    Agreement, Rosalie Moore                                                                                                                              | **       |
| 5.1                                | Stock                    Option Plan                                                                                                                                                | **       |
| 11.1                               | CEO                    Code of Ethics                                                                                                                                               | *        |
| 11.2                               | CFO                    Code of Ethics                                                                                                                                               | *        |
| 11.3                               | Directors                    and Officers Codes of Ethics                                                                                                                           | *        |
| 12.1 12.2 13.1 13.2 | CEO                    302 Certification CFO                    302 Certification CEO                    906 Certification CFO                    906 Certification  |     |

*****

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**SIGNATURES**

**WEALTH        MINERALS CORP.**

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