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Silver Wheaton Reports Record Quarterly Financial Results Including Operating Cash Flows Of Over US$172 Million

Stock quotes in this article: SLW

1)     All figures in thousands except gold ounces produced and sold and per ounce amounts. 2)     Ounces produced represent the quantity of silver and gold contained in concentrate or doré prior to smelting or refining deductions. Production figures are based on information provided by the operators of the mining operations to which the silver or gold interests relate or management estimates in those situations where other information is not available. Certain production figures may be updated in future periods as additional information is received. 3)     Refer to discussion on non-IFRS measures at the end of this press release. 4)     Results for San Dimas include 375,000 ounces received from Goldcorp in connection with Goldcorp's four year commitment to deliver to Silver Wheaton 1.5 million ounces of silver per annum resulting from their sale of San Dimas to Primero. 5)     Comprised of the operating Lagunas Norte, Pierina and Veladero silver interests in addition to the non-operating Pascua-Lama silver interest. 6)     Comprised of the operating Los Filos, Keno Hill, Mineral Park, Neves-Corvo, Stratoni, Campo Morado, Minto and Aljustrel silver interests in addition to the non-operating Rosemont silver and gold interest and Loma de La Plata silver interest. 7)     Gold ounces produced and sold are converted to a silver equivalent basis on the ratio of the average silver price received to the average gold price received during the period from the assets that produce both gold and silver.

                            Three Months Ended June 30, 2011
                                                        Average
                                             Average     Cash
                                             Realized    Cost
                                              Price     (US$'s     Average
                Ounces                        (US$'s      Per     Depletion
               Produced Ounces    Sales        Per      Ounce)   (US$'s Per
                 [2]     Sold    (US$'s)      Ounce)      [3]      Ounce)
    Silver
    San Dimas
    [4]           1,150  1,149    $  42,798    $ 37.25    $ 4.05     $  0.71
    Zinkgruvan      414    401       16,220      40.46      4.08        1.69
    Yauliyacu       674    471       17,663      37.50      4.02        5.02
    Peñasquito    1,282    961       39,274      40.89      3.90        2.41
    Cozamin         414    281       10,284      36.58      4.08        4.62
    Barrick
    [5]             741    726       27,437      37.78      3.90        3.57
    Other [6]     1,153    862       32,515      37.71      3.94        4.30
                  5,828  4,851    $ 186,191    $ 38.38    $ 3.98     $  2.84
    Gold
    Minto         6,510  5,674        8,561      1,509       300         169
    Silver
    equivalent
    [7]           6,089  5,078    $ 194,752    $ 38.35    $ 4.14     $  2.90
    Corporate
    General and
    administrative
    Other
    Total
    corporate
                  6,089  5,078    $ 194,752    $ 38.35    $ 4.14     $  2.90

Table continues

    Three Months
    Ended June 30,
    2011
                                                        Cash Flow
                                        Net                From
                                     Earnings          Operations     Total Assets
                                      (US$'s)             (US$'s)         (US$'s)
    Silver
    San Dimas [4]              $      37,333          $    38,149  $     169,458
    Zinkgruvan                        13,905               13,303         58,899
    Yauliyacu                         13,406               15,770        233,355
    Peñasquito                        33,215               35,528        510,351
    Cozamin                            7,838               10,798         28,394
    Barrick [5]                       22,009               24,605        599,449
    Other [6]                         25,415               29,105        260,447
                               $     153,121          $   167,258  $   1,860,353
    Gold
    Minto                              5,897                5,941         35,362
    Silver
    equivalent [7]             $     159,018          $   173,199  $   1,895,715
    Corporate
    General and
    administrative             $     (6,252)
    Other                            (4,701)
    Total
    corporate                  $    (10,953)          $   (4,918)  $     911,631
                               $     148,065          $   168,281  $   2,807,346
 

1)     All figures in thousands except gold ounces produced and sold and per ounce amounts. 2)     Ounces produced represent the quantity of silver and gold contained in concentrate or doré prior to smelting or refining deductions. Production figures are based on information provided by the operators of the mining operations to which the silver or gold interests relate or management estimates in those situations where other information is not available. Certain production figures may be updated in future periods as additional information is received. 3)     Refer to discussion on non-IFRS measure at the end of this press release. 4)     Results for San Dimas include 375,000 ounces received from Goldcorp in connection with Goldcorp's four year commitment to deliver to Silver Wheaton 1.5 million ounces of silver per annum resulting from their sale of San Dimas to Primero. 5)     Comprised of the operating Lagunas Norte, Pierina and Veladero silver interests in addition to the non-operating Pascua-Lama silver interest. 6)     Comprised of the operating Los Filos, Keno Hill, Mineral Park, Neves-Corvo, Stratoni, Campo Morado, Minto and Aljustrel silver interests in addition to the non-operating Rosemont silver and gold interest and Loma de La Plata silver interest. 7)     Gold ounces produced and sold are converted to a silver equivalent basis on the ratio of the average silver price received to the average gold price received during the period from the assets that produce both gold and silver.

                                   Six Months Ended June 30, 2012
                                                        Average
                                             Average     Cash
                                             Realized    Cost      Average
                                              Price     (US$'s    Depletion
                Ounces                        (US$'s      Per      (US$'s
               Produced Ounces    Sales        Per      Ounce)       Per
                 [2]     Sold    (US$'s)      Ounce)      [3]      Ounce)
    Silver
    San Dimas
    [4]           2,919  2,996    $  92,261    $ 30.79    $ 4.09     $  0.79
    Zinkgruvan    1,315  1,097       33,443      30.47      4.14        1.68
    Yauliyacu     1,156  1,652       50,054      30.30      4.06        5.02
    Peñasquito    3,187  3,034       91,957      30.31      3.99        2.96
    Cozamin         834    771       24,590      31.91      4.10        4.05
    Barrick
    [5]           1,135  1,126       35,686      31.70      3.90        4.34
    Other [6]     2,564  2,041       62,865      30.79      3.96        4.04
                 13,110 12,717    $ 390,856    $ 30.73    $ 4.03     $  2.97
    Gold
    Minto         5,302  6,229       10,190      1,636       303         171
    Silver
    equivalent
    [7]          13,406 13,054    $ 401,046    $ 30.72    $ 4.07     $  2.97
    Corporate
    General and
    administrative
    Other
    Total
    corporate
                 13,406 13,054    $ 401,046    $ 30.72    $ 4.07     $  2.97

Table continues

    Six Months Ended June
    30, 2012
                                                          Cash Flow
                                        Net                From
                                     Earnings             Operations  Total Assets
                                      (US$'s)               (US$'s)     (US$'s)
    Silver
    San Dimas [4]                $     77,634       $       79,999 $   165,161
    Zinkgruvan                         27,058               27,538      55,798
    Yauliyacu                          35,055               45,790     221,723
    Peñasquito                         70,873               79,853     495,993
    Cozamin                            18,313               20,540      21,997
    Barrick [5]                        26,410               32,517     601,035
    Other [6]                          46,531               54,722     243,642
                                 $    301,874       $      340,959 $ 1,805,349
    Gold
    Minto                               7,240                8,077      32,596
    Silver
    equivalent [7]               $    309,114       $      349,036 $ 1,837,945
    Corporate
    General and
    administrative               $   (14,918)
    Other                             (5,601)
    Total corporate              $   (20,519)       $     (12,309) $ 1,218,880
                                 $    288,595       $      336,727 $ 3,056,825
 

1)     All figures in thousands except gold ounces produced and sold and per ounce amounts. 2)     Ounces produced represent the quantity of silver and gold contained in concentrate or doré prior to smelting or refining deductions. Production figures are based on information provided by the operators of the mining operations to which the silver or gold interests relate or management estimates in those situations where other information is not available. Certain production figures may be updated in future periods as additional information is received. 3)     Refer to discussion on non-IFRS measure at the end of this press release. 4)     Results for San Dimas include 750,000 ounces received from Goldcorp in connection with Goldcorp's four year commitment to deliver to Silver Wheaton 1.5 million ounces of silver per annum resulting from their sale of San Dimas to Primero. 5)     Comprised of the operating Lagunas Norte, Pierina and Veladero silver interests in addition to the non-operating Pascua-Lama silver interest. 6)     Comprised of the operating Los Filos, Keno Hill, Mineral Park, Neves-Corvo, Stratoni, Campo Morado, Minto and Aljustrel silver interests in addition to the non-operating Rosemont silver and gold interest and Loma de La Plata silver interest. 7)     Gold ounces produced and sold are converted to a silver equivalent basis on the ratio of the average silver price received to the average gold price received during the period from the assets that produce both gold and silver.

                                             Six Months Ended June 30, 2011
                                                        Average
                                             Average     Cash
                                             Realized    Cost      Average
                                              Price     (US$'s    Depletion
                Ounces                        (US$'s      Per      (US$'s
               Produced Ounces    Sales        Per      Ounce)       Per
                 [2]     Sold    (US$'s)      Ounce)      [3]      Ounce)
    Silver
    San Dimas
    [4]           2,756  2,897    $ 101,169    $ 34.92    $ 4.05     $  0.71
    Zinkgruvan      922    722       27,269      37.76      4.08        1.69
    Yauliyacu     1,357    591       21,186      35.85      4.01        5.02
    Peñasquito    2,489  1,902       66,294      34.87      3.90        2.41
    Cozamin         739    552       18,935      34.26      4.06        4.62
    Barrick
    [5]           1,463  1,406       49,100      34.91      3.90        3.56
    Other [6]     2,241  1,603       56,542      35.27      3.93        4.14
                 11,967  9,673    $ 340,495    $ 35.20    $ 3.98     $  2.59
    Gold
    Minto         9,435  8,198       12,440      1,517       300         169
    Silver
    equivalent
    [7]          12,325  9,983    $ 352,935    $ 35.35    $ 4.10     $  2.65
    Corporate
    General and
    administrative
    Other
    Total
    corporate
                 12,325  9,983    $ 352,935    $ 35.35    $ 4.10     $  2.65

Table continues

    Six Months Ended June
    30, 2011
                                                          Cash Flow
                                        Net                From
                                      Earnings            Operations  Total Assets
                                       (US$'s)             (US$'s)      (US$'s)
    Silver
    San Dimas [4]                $     87,384       $       88,351 $   169,458
    Zinkgruvan                         23,100               22,909      58,899
    Yauliyacu                          15,850               18,815     233,355
    Peñasquito                         54,301               58,880     510,351
    Cozamin                            14,136               18,573      28,394
    Barrick [5]                        38,604               42,056     599,449
    Other [6]                          43,601               49,290     260,447
                                 $    276,976       $      298,874 $ 1,860,353
    Gold
    Minto                               8,595                8,811      35,362
    Silver
    equivalent [7]               $    285,571       $      307,685 $ 1,895,715
    Corporate
    General and
    administrative               $   (12,754)
    Other                             (2,576)
    Total corporate              $   (15,330)       $     (12,208) $   911,631
                                 $    270,241       $      295,477 $ 2,807,346
 

1)     All figures in thousands except gold ounces produced and sold and per ounce amounts. 2)     Ounces produced represent the quantity of silver and gold contained in concentrate or doré prior to smelting or refining deductions. Production figures are based on information provided by the operators of the mining operations to which the silver or gold interests relate or management estimates in those situations where other information is not available. Certain production figures may be updated in future periods as additional information is received. 3)     Refer to discussion on non-IFRS measures at the end of this press release. 4)     Results for San Dimas include 750,000 ounces received from Goldcorp in connection with Goldcorp's four year commitment to deliver to Silver Wheaton 1.5 million ounces of silver per annum resulting from their sale of San Dimas to Primero. 5)     Comprised of the operating Lagunas Norte, Pierina and Veladero silver interests in addition to the non-operating Pascua-Lama silver interest. 6)     Comprised of the operating Los Filos, Keno Hill, Mineral Park, Neves-Corvo, Stratoni, Campo Morado, Minto and Aljustrel silver interests in addition to the non-operating Rosemont silver and gold interest and Loma de La Plata silver interest. 7)     Gold ounces produced and sold are converted to a silver equivalent basis on the ratio of the average silver price received to the average gold price received during the period from the assets that produce both gold and silver.

Non-IFRS Measures

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