Silver Wheaton Enters into Early Deposit Gold Stream Agreement With Sandspring

Silver Wheaton SLW is pleased to announce that it has entered into an Early Deposit Gold Stream Agreement (the "Early Deposit Agreement") with Sandspring Resources Ltd. ("Sandspring") for the Toroparu project located in the Republic of Guyana, South America. "Silver Wheaton continues to push the streaming model forward," said Randy Smallwood, Silver Wheaton's President and Chief Executive Officer. "The Early Deposit Agreement model allows us to get our foot in the door on high-quality, earlier stage projects such as Toroparu for relatively little upfront capital. From Sandspring's perspective, these funds will allow them to complete the bankable feasibility study without subjecting their shareholders to excessive dilution that today's challenging equity markets would deliver. Yet again, Silver Wheaton has developed another innovative, win-win business model. In todays market environment we expect this model to be very attractive to junior exploration and development companies looking for funding." Under the Early Deposit Agreement, Silver Wheaton, through its wholly owned subsidiary Silver Wheaton (Caymans) Ltd., has the right to purchase 10% of the life of mine gold production from the Toroparu project (the "Gold Stream") for total cash consideration of US$148.5 See full press release