SILVER WHEATON ANNOUNCES AMENDED SILVER PURCHASE AGREEMENT IN
CONJUNCTION WITH GOLDCORP’S PROPOSED SALE OF THE SAN DIMAS MINE
Vancouver, British Columbia – Silver Wheaton Corp. (“Silver Wheaton” or the “Company”) (TSX,
NYSE:SLW) announces that it has agreed to amend its silver purchase agreement relating to the San Dimas
mine, in conjunction with Goldcorp Inc.’s (“Goldcorp”) proposed sale of the mine to Mala Noche Resources
Corp. (“Mala Noche”). Under the terms of a binding letter agreement between Mala Noche and Goldcorp (“the
Purchase Agreement”), effective June 2, 2010, Mala Noche has agreed to purchase Goldcorp’s San Dimas mine
(“San Dimas”), located in Mexico, for total consideration of US$500 million, subject to a number of conditions,
including the completion of a proposed equity financing by Mala Noche to raise net proceeds of a minimum of
US$350 million in cash (see Goldcorp and Mala Noche press releases dated June 2, 2010).
Upon closing of the Purchase Agreement, Mala Noche is expected to have a strong balance sheet, including over
US$50 million in working capital and low debt levels. In addition, Goldcorp will be a major shareholder of Mala
Noche, owning approximately 30% of its issued and outstanding shares, and has agreed to maintain its
shareholding for a minimum of three years.
Mr. Eduardo Luna, Mala Noche’s Executive Vice President and President-Mexico, will once again play a
significant role in overseeing the operations at San Dimas. From 1991 to 2007, Mr. Luna was the President of
Luismin, S.A. de C.V., the owner and operator of San Dimas. During the five-year period prior to his 2007
resignation, the mine achieved its best production performance over its greater than 100 year history. Mr. Joseph
Conway has also been appointed as Chief Executive Officer of Mala Noche. As former Chief Executive Officer
of Iamgold Corporation, Mr. Conway oversaw the growth of that company into one of Canada’s leading
intermediate gold producers.
Under the te