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Silver Wheaton Acquires Life Of Mine Precious Metals Streams From Hudbay's 777 Mine And Constancia Project

Stocks in this article: HBMSLW

With the addition of two new precious metal streams, Silver Wheaton is revising its one and five year production guidance. In 2012, attributable silver equivalent production is forecast to increase from 27 million silver equivalent ounces to 28 million silver equivalent ounces, including 42,000 ounces of gold [ 3 ]. In 2016, annual attributable production is anticipated to increase 90% compared to 2011 levels, growing to approximately 48 million silver equivalent ounces, including 100,000 ounces of gold [ 1 ].

As per Goldcorp Inc.'s ("Goldcorp") July 10, 2012 disclosure, second quarter mill throughput at its Peñasquito mine was impacted by lower than anticipated water supplies, due to prolonged drought conditions in the region. This resulted in a reduction of 2012 forecast silver production attributable to Silver Wheaton. However, this reduction is expected to be more than offset by attributable silver and gold production from the 777 mine, resulting in a net increase in Silver Wheaton's 2012 production forecast.

CONFERENCE CALL

A conference call, along with an interactive presentation, will be held on Wednesday August 8, 2012, starting at 3:00pm (Eastern Time) to discuss this transaction. To participate in the live call please use one of the following methods:

    Dial toll free from Canada or the US:        1-888-231-8191
    Dial from outside Canada or the US:          1-647-427-7450
    Pass code:                                      18008206
    Live audio webcast:                   http://www.silverwheaton.com

Participants should dial in five to ten minutes before the call.

A copy of the presentation can be found on Silver Wheaton's homepage at http://www.silverwheaton.com or accessed via the live webcast.

The conference call will be recorded and you can listen to an archive of the call by one of the following methods:

    Dial toll free from Canada or the US:        1-855-859-2056
     Dial from outside Canada or the US:          416-849-0833
                 Pass code:                         18008206
           Archived audio webcast:        http://www.silverwheaton.com

ABOUT SILVER WHEATON

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