NEW YORK and MONTREAL, May 2, 2012 /PRNewswire/ – Canwealth Minerals
Corporation and majority shareholder, ICBS Ltd., (OTCPK: ICBT),
announced today that after a meeting with the company’s directors,
auditors and lawyers a resolution was passed by the board, to take
Canwealth Minerals Corporation public by reverse merger with an
existing U.S. public company.

Representatives from ICBS have engaged in actively seeking a public U.S.
company for a reverse merger. The merger would allow Canwealth to
become a publicly traded company within a relatively short time. An
initial IPO was ruled out because of the lengthy and expensive process
prior to being able to trade its stock. A reverse merger could see
Canwealth trading within 30-60 days after the completion of the reverse
merger.

Canwealth Minerals drilling program is set to commence on May 20, 2012,
at Golden Ridge The exploration schedule is based on a window of
opportunity with respect to weather, road conditions and accessibility
(snow accumulation, flooding and erosion) to the primary target.
Drilling will depend on access to water that is free of ice. Core
drilling to determine the extent of the precious mineral deposits is
expected to have the first results by the summer.

Canwealth Minerals Corporation – is a mineral exploration and mining
company actively searching for gold, silver, PGE, base metal and REE
mineral deposits in Quebec. At the present time the company holds 9
Mining properties (268 Claim cells) in Northern Quebec’s Abitibi region
and the James Bay basin including addition exploration camps in South
Western Quebec for a total of 38,573 acres under management and is 100%
owned by Canwealth Minerals Corp. Canwealth will require development
funding for equipment and labour which could top three million dollars
over the next two years.

ICBS Limited is a 51% shareholder in Canwealth Minerals Corp.

Legal Notice Regarding Forward-Looking Statements:

Safe Harbour: This press release contains forward-looking information
within the meaning of section 27A of the Securities Act of 1933 and
section 21E of the Securities Exchange Act of 1934 and is subject to
the Safe Harbour created by those sections. This material contains
statements about expected future events and/or financial results that
are forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual results,
performance or achievements of ICBS Limited, to be materially different
from the statements made herein.

SOURCE Canwealth Minerals Corporation