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SLW earns $6.4 million in 3rd Qtr
Monday October 31, 8:00 pm ET


VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 31, 2005--Silver Wheaton Corp. (TSX:SLW - News; AMEX:SLW - News) is pleased to report third quarter net earnings of US$6.4 million (US$0.04 per share) and operating cash flow of US$8.0 million (US$0.05 per share).

HIGHLIGHTS
- Net earnings of US$6.4 million (US$0.04 per share) from the sale of 2.5 million ounces of silver.

- Operating cash flow of US$8.0 million (US$0.05 per share).

- Cash and cash equivalents at September 30, 2005 of US$26.6 million

- Acquired 15% interest in Bear Creek Mining Corporation, developing the Corani silver project in Peru.

- The Company is debt free, unhedged and seeking further acquisitions.

A conference call will be held Tuesday, November 1, 2005 at 11:00 am (ET) to discuss these results. You may join the call by dialing toll free 1-800-769-8320 or [phone] for calls from outside of Canada and the US.

The conference call will be recorded and you can listen to a playback of the call after the event by dialing 1-888-509-0082 or [phone]. A live and archived audio webcast will be available on the website at www.silverwheaton.com.

Silver Wheaton is the only mining company with 100% of its revenue from silver production. Silver Wheaton is debt-free, unhedged and well positioned for further growth.