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Silver Wheaton completes definitive agreement with Vale S.A. and definitive agreement on new credit facilities



 Silver Wheaton completes definitive agreement with Vale S.A. and definitive
                      agreement on new credit facilities

PR Newswire

VANCOUVER, Feb. 28, 2013

TSX: SLW
NYSE: SLW

VANCOUVER, Feb. 28, 2013 /PRNewswire/ - Silver Wheaton Corp. ("Silver Wheaton"
or the "Company") (TSX: SLW) (NYSE: SLW)  is pleased to announce that, further
to the press release dated February 5, 2013, Silver Wheaton has entered into a
definitive agreement to acquire from a subsidiary of Vale S.A. ("Vale") (NYSE:
VALE) an amount of gold equal to 25% of the life of mine gold production from
its Salobo Mine, located in Brazil, as well as 70% of the gold production, for
a 20-year term, from certain of its Sudbury Mines located in Canada. The
transaction is no longer subject to Vale board approval, which has now been
obtained.

The Company will  pay Vale,  within 10 business  days of  this press  release, 
total cash consideration of US$1.90 billion, and has issued to Vale 10 million
Silver Wheaton warrants with a strike price of US$65 and a term of 10 years^1.
US$1.33 billion will be paid for 25% of the gold production from Salobo, while
US$570 million, plus the  10 million Silver Wheaton  warrants issued to  Vale, 
will be  the consideration  for 70%  of the  Sudbury gold  production.  Silver 
Wheaton will make ongoing payments  of the lesser of  US$400 (subject to a  1% 
annual inflation adjustment from  2016 for Salobo)  and the prevailing  market 
price, for each ounce of gold delivered under the agreement.

In addition, Silver Wheaton has finalized  the terms and entered into two  new 
unsecured credit facilities, comprised  of (1) a  $1 billion revolving  credit 
facility having  a 5  year term  (the "Revolving  Facility"); and  (2) a  $1.5 
billion  bridge  financing  facility  having  a  1  year  term  (the   "Bridge 
Facility"). The Revolving  Facility  and  Bridge Facility  replaced  the  $400 
million Revolver Loan and the Term Loan, with the latter being repaid in  full 
on February 22, 2013. For the  Revolving Facility, Scotiabank and BMO  Capital 
Markets acted as  Co-Lead Arrangers and  Joint Bookrunners, Canadian  Imperial 
Bank of Commerce, Royal Bank of Canada and The Toronto Dominion Bank acted  as 
Co-Documentation Agents and Bank of  Tokyo-Mitsubishi UFJ (Canada), HSBC  Bank 
Canada and Export Development Canada acted as Senior Managers. For the  Bridge 
Facility, Scotiabank and BMO  Capital Markets acted  as Co-Lead Arrangers  and 
Joint Bookrunners, Canadian Imperial Bank of Commerce and Royal Bank of Canada
acted as  Co-Documentation Agents  and The  Toronto Dominion  Bank and  Export 
Development Canada acted as Senior Managers.  Combined with cash on hand,  the 
additional credit capacity  offered by  these new  credit facilities  provides 
Silver Wheaton with sufficient access to  capital to fund the upfront  payment 
to  Vale,  while  continuing  its  pursuit  of  additional  accretive   growth 
opportunities.

ABOUT SILVER WHEATON

Silver Wheaton is the largest precious metals streaming company in the  world. 
Based upon its  current agreements, forecast  2013 attributable production  is 
approximately 33.5 million silver equivalent ounces^2, including 145  thousand 
ounces of  gold. By  2017, annual  attributable production  is anticipated  to 
increase significantly to approximately 53 million silver equivalent ounces^2,
including 180 thousand ounces of gold. This growth is driven by the  Company's 
portfolio of  low-cost and  long-life assets,  including silver  and  precious 
metal streams on Barrick's  Pascua-Lama project, Hudbay's Constancia  project, 
and Vale's Salobo and Sudbury mines. 

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  "forward-looking  information"  within  the  meaning  of  applicable 
Canadian securities  legislation. Forward-looking  statements, which  are  all 
statements other  than statements  of historical  fact, include,  but are  not 
limited to, statements with  respect to the future  price of silver and  gold, 
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, reserve conversion rates and  statements 
as to any future dividends. 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". Forward-looking statements are subject to
known and unknown risks,  uncertainties and other factors  that may cause  the 
actual results,  level  of activity,  performance  or achievements  of  Silver 
Wheaton to be  materially different from  those expressed or  implied by  such 
forward-looking statements, including but not limited to: fluctuations in  the 
price of silver and gold; the  absence of control over mining operations  from 
which Silver  Wheaton purchases  silver or  gold and  risks related  to  these 
mining operations including risks related to fluctuations in the price of  the 
primary commodities mined  at such  operations, actual results  of mining  and 
exploration activities, economic and political  risks of the jurisdictions  in 
which the mining operations are located  and changes in project parameters  as 
plans continue  to  be  refined;  and differences  in  the  interpretation  or 
application of tax laws and regulations; as well as those factors discussed in
the section entitled "Description  of the Business -  Risk Factors" in  Silver 
Wheaton's Annual Information Form available  on SEDAR at www.sedar.com and  in 
Silver Wheaton's  Form 40-F  on file  with the  U.S. Securities  and  Exchange 
Commission  in  Washington,  D.C.  Forward-looking  statements  are  based  on 
assumptions management believes  to be reasonable,  including but not  limited 
to: the continued operation of the mining operations from which Silver Wheaton
purchases silver or gold,  no material adverse change  in the market price  of 
commodities, that the mining operations  will operate and the mining  projects 
will be completed in accordance with their public statements and achieve their
stated production outcomes, and such other assumptions and factors as set  out 
herein. Although Silver  Wheaton has attempted  to identify important  factors 
that could cause actual results to  differ materially from those contained  in 
forward-looking statements, there may be other factors that cause results  not 
to be as anticipated,  estimated or intended. There  can be no assurance  that 
forward-looking statements  will prove  to be  accurate. Accordingly,  readers 
should not place undue reliance on forward-looking statements. Silver  Wheaton 
does not undertake to update any forward-looking statements that are  included 
or incorporated  by reference  herein, except  in accordance  with  applicable 
securities laws.

CAUTIONARY LANGUAGE REGARDING RESERVES AND RESOURCES

For further  information on  Mineral  Reserves and  Mineral Resources  and  on 
Silver Wheaton more generally, readers should refer to Silver Wheaton's Annual
Information Form for the  year ended December 31,  2011, and other  continuous 
disclosure documents filed by Silver Wheaton since January 1, 2012,  available 
on SEDAR  at  www.sedar.com. Silver  Wheaton's  Mineral Reserves  and  Mineral 
Resources are  subject to  the  qualifications and  notes set  forth  therein. 
Mineral Resources  which are  not Mineral  Reserves do  not have  demonstrated 
economic viability.

Cautionary Note to United States  Investors Concerning Estimates of  Measured, 
Indicated and  Inferred Mineral  Resources: The  information contained  herein 
uses the  terms  "Measured",  "Indicated" and  "Inferred"  Mineral  Resources. 
United States investors are advised that  while such terms are recognized  and 
required by Canadian  regulations, the United  States Securities and  Exchange 
Commission does not  recognize them  and expressly  prohibits U.S.  registered 
companies from including such terms in  their filings with the SEC.  "Inferred 
Mineral Resources" have a great amount  of uncertainty as to their  existence, 
and as to their economic and legal feasibility. It cannot be assumed that  all 
or any part of an Inferred Mineral Resource will ever be upgraded to a  higher 
category. Under Canadian  rules, estimates of  Inferred Mineral Resources  may 
not form the  basis of feasibility  or other economic  studies. United  States 
investors are cautioned  not to assume  that all  or any part  of Measured  or 
Indicated Mineral Resources will  ever be converted  into Mineral Reserves  or 
that any  exploration potential  will ever  be converted  to any  category  of 
Mineral Reserves  or  Mineral  Resources. United  States  investors  are  also 
cautioned not to assume that all or  any part of an Inferred Mineral  Resource 
exists, or is economically or  legally mineable.  United States investors  are 
urged to consider closely the disclosure in Silver Wheaton's Form 40-F, a copy
of   which    may    be    obtained    from    Silver    Wheaton    or    from 
http://www.sec.gov/edgar.shtml.

Mr. Neil  Burns, Silver  Wheaton's Vice  President, Technical  Services, is  a 
"qualified person" as such term  is defined under National Instrument  43-101, 
and has reviewed and approved the technical disclosure in this news release.

                             -------------------

^1 The issue of the warrants is subject to receipt of all requisite regulatory
approvals including those  from the Toronto  Stock Exchange and  the New  York 
Stock Exchange.

^2 Silver equivalent production forecast assumes a gold/silver ratio of 53.3:1

SOURCE Silver Wheaton Corp.

Contact:

Patrick Drouin 
Vice President, Investor Relations
Silver Wheaton Corp.
Tel: 1-800-380-8687
Email: info@silverwheaton.com
Website: www.silverwheaton.com
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