Silver Wheaton declares first quarterly dividend payment for 2013

      Silver Wheaton declares first quarterly dividend payment for 2013

  PR Newswire

  VANCOUVER, March 21, 2013

VANCOUVER, March 21, 2013 /PRNewswire/ --

TSX:SLW NYSE:SLW

Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW) (NYSE:SLW)
is pleased to announce that its Board of Directors has declared its first
quarterly cash dividend payment for 2013 of US$0.14 per common share. The
quarterly dividend will be paid to holders of record of its common shares as
of the close of business on April 2, 2013, and will be distributed on or about
April 12, 2013.

Under the Company's dividend policy, the quarterly dividend per common share
is equal to 20% of the cash generated by operating activities in the previous
quarter divided by the Company's outstanding common shares at the time the
dividend is approved, all rounded to the nearest cent.

The declaration, timing, amount and payment of future dividends remain at the
discretion of the Board of Directors. This dividend qualifies as an 'eligible
dividend' for Canadian income tax purposes.

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 ^[ ^1 ^] , including 145
thousand ounces of gold. By 2017, annual attributable production is
anticipated to increase significantly to approximately 53 million silver
equivalent ounces ^[ ^1 ^] , 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 http://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.

____________________________ ^[ ^1 ^] Silver equivalent production forecast
assumes a gold/silver ratio of 53.3:1

For further information:

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

    (SLW. SLW)
 
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