Gold Wheaton Reports Financial Results for Third Quarter 2009

Gold Wheaton Gold Corp. ("Gold Wheaton") (TSX VENTURE:GLW) is pleased to
announce the financial results of operations for the three and nine months ended
September 30, 2009 (unless otherwise indicated, all dollar amounts are expressed
in United States dollars).


2009 Third Quarter Highlights



--  Revenue from the sale of precious metals for the three months ended
    September 30, 2009 ("Q3 2009") was $6.8 million; $2.2 million lower as
    compared to the three months ended September 30, 2008 ("Q3 2008"),
    primarily as a result of lower deliveries from FNX Mining Company Ltd.
    ("FNX") due to the Vale Inco strike impact. 
--  Operating cash flow of $5.8 million; $6.5 million higher than Q3 2008,
    as a result of the timing of payments associated with deliveries in Q3
    2008 and the additional First Uranium Corporation ("First Uranium")
    production. 
--  6,535 gold equivalent ounces were sold to the Company in Q3 2009,. FNX
    sold approximately 937 gold equivalent ounces to Gold Wheaton after the
    settlement of prior period sales compared to 10,804 gold equivalent
    ounces in Q3-2008. First Uranium sold approximately 5,598 ounces to Gold
    Wheaton. There were no sales from First Uranium in Q3-2008 as the
    contract was entered into in December 2008. 
--  Net loss for Q3 2009 was $3.1 million (loss of $0.00 per share) compared
    to a net loss of $2.3 million (loss of $0.00 per share) for Q3 2008
    Higher loss in Q3 2009 compared to Q3 2008 was mainly due to delayed and
    lower deliveries from FNX as a result of Vale Inco's strike; higher
    foreign exchange losses due to a strengthening of the Canadian dollar;
    and partially offset by sale of gold deliveries from First Uranium in Q3
    2009 and higher gold, platinum and palladium prices compared to Q3 2008.
--  At September 30, 2009, the Company had cash and short term investments
    of $86.6 million and working capital of $45.1 million compared to $7.4
    million and $14.5 million, respectively, on December 31, 2008. Working
    capital at September 30, 2009 includes accounts receivable of $9.3
    million from the sale of precious metals arising from timing of
    settlements from offtake agreements. Accounts payable includes $3.5
    million related to the cash per ounce cost of the precious metals
    purchased. 
--  Subsequent to September 30, 2009, the Company signed a definitive
    agreement with Ezulwini Mining Company (Proprietary) Limited, a
    subsidiary of First Uranium. Gold Wheaton will purchase 7% of the life
    of mine gold production from First Uranium's Ezulwini Mine in South
    Africa, with minimum gold purchases of 16,500 and 19,500 ounces for 2010
    and 2011 respectively. Total upfront payment will be $50 million. In
    addition, Gold Wheaton will pay the lesser of $400 per ounce of payable
    gold delivered and sold to Gold Wheaton, subject to adjustment, and the
    then prevailing market price. Closing of the transaction is expected to
    be late November 2009, subject to receipt of all required governmental,
    regulatory and stock exchange approvals and third-party consents. 



"The Vale Inco strike impact on FNX deliveries to Gold Wheaton has had the
previously indicated impact on this quarter's performance. However, we expect to
make up the lower deliveries in Q3 2009 from FNX in the fourth quarter from ore
stock piled in Q3 that has been shipped to Xstrata for processing in the fourth
quarter. In addition, FNX has announced that deliveries to Vale Inco were
resumed in late September, normalizing the operating situation. At First
Uranium's Mine Waste Solutions Tailings Recovery project, ramp up following the
commissioning of Phase 1b continues. With this increase in delivered ounces and
the higher precious metals prices, we expect to have a strong fourth quarter,"
said David Cohen, Chairman and CEO.


Financial Information

For complete details of financial results, please refer to the unaudited interim
consolidated financial statements and accompanying Management's Discussion and
Analysis ("MD&A") for the three and nine months ended September 30, 2009. These
financial statements and MD&A, and the comparative financial statements for the
three and nine months ended September 30, 2009 are all available on SEDAR at
www.sedar.com and on the Company's website www.goldwheaton.com.


Teleconference call details

Gold Wheaton will host a telephone conference call on Thursday, November 12,
2009, at 10:00am PST (1:00pm EST) to discuss the results. The conference call
may be accessed by dialing 1-800-319-4610 in Canada and the United States, or
1-604-638-5340 internationally.


The conference call will be archived for later playback until Thursday, November
19, 2009 and can be accessed by dialing 604-638-9010 or 1-800-319-6413 and using
the pass code 3504 followed by the number sign, #.


About the Company

Gold Wheaton is a gold company with 100% of its operating revenue from the sale
of gold and precious metals produced by others. The Company is actively pursuing
further growth opportunities.


The Company's shares are listed on the TSX Venture Exchange under the symbol
"GLW" with 1,430,469,668 pre-consolidation shares issued and outstanding.


Cautionary Note Regarding Forward-Looking Statements

Safe Harbor Statement under the United States Private Securities Litigation
Reform Act of 1995: Except for the statements of historical fact contained
herein, the information presented constitutes "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements, including but not limited to those with respect to
the price of gold, platinum or palladium, the timing and amount of estimated
future production, costs of production, reserve determination and reserves
conversion rates involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of Gold
Wheaton to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.


Such factors include, among other risks, risks related to the integration of
acquisitions, risks related to international operations, risks related to joint
venture operations, the actual results of current exploration activities, actual
results of current reclamation activities, conclusions of economic evaluations
and changes in project parameters as plans continue to be refined, future prices
of gold or uranium, the timing and amount of estimated future production and the
costs thereof; capital expenditures; the availability of any additional capital
required to bring future projects into production; future prices of commodities;
the failure of plant, equipment or processes to operate as anticipated;
accidents; labour disputes; delays in obtaining governmental approvals, permits
or financing or in the completion of development or construction activities;
currency fluctuations, as well as those factors discussed in the section
entitled "Description of Business - Risk Factors" in Gold Wheaton's Annual
Information Form dated August 19, 2008 as filed on SEDAR. Although Gold Wheaton
has attempted to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.