Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX, NYSE:SLW) is pleased to confirm that it has closed its previously announced bought deal equity financing, including the full amount of the underwriters' over- allotment option, for aggregate gross proceeds to Silver Wheaton of US$287.5 million. A syndicate of underwriters, led by Genuity Capital Markets and GMP Securities L.P., and including BMO Nesbitt Burns Inc., Scotia Capital Inc., Canaccord Capital Corporation, UBS Securities Canada Inc., Blackmont Capital Inc., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Merrill Lynch Canada Inc., Raymond James Ltd., RBC Dominion Securities Inc., Salman Partners Inc. and CIBC World Markets Inc., purchased an aggregate of 25,903,750 common shares of Silver Wheaton at a price of US$11.10 per share.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

ABOUT SILVER WHEATON

Silver Wheaton is the largest silver streaming company in the world. Including the Barrick transaction, forecast 2009 sales are 16 to 18 million ounces of silver and 17,000 ounces of gold, for total sales of 17 to 19 million silver equivalent ounces, growing to approximately 39 million ounces of silver and 20,000 ounces of gold, for total sales of approximately 40 million silver equivalent ounces, by 2013.

CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS

The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of silver, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, reserve determination and reserve conversion rates. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".