GLW Galway Gold Inc

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES. 


Gold Wheaton Gold Corp. (the "Company") (TSX VENTURE:GLW) announces that it has
entered into an agreement with a syndicate of underwriters, co-led by Paradigm
Capital Inc., Canaccord Capital Corp., and GMP Securities L.P. and including BMO
Capital Markets, and Scotia Capital Inc. for an overnight marketed public
offering of units (the "Units"). Each Unit will consist of one common share and
one half share purchase warrant, with each whole warrant entitling the holder to
acquire one additional common share. The Company has filed and obtained a
receipt for a preliminary short form prospectus in connection with the offering.
The Company has granted to the underwriters an over-allotment option to purchase
up to that number of additional common shares and half-warrants equal to 15% of
the common shares and warrants sold pursuant to the offering, exercisable at any
time up to 30 days from the closing of the offering.


The offering will be priced in the context of the market with final terms of the
offering to be determined at the time of pricing. The Company intends to use the
net proceeds from the offering to pay the balance of the purchase consideration
payable by the Company in connection with the First Uranium Corp. gold stream
purchase transaction and for general working capital purposes.


The offering is scheduled to close on or about March 5, 2009 and is subject to
certain conditions including, but not limited to, the receipt of all necessary
approvals including the approval of the TSX Venture Exchange and the securities
regulatory authorities.


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 U.S. 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. 


Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information
presented constitutes "forward looking statements". Such forward-looking
statements, including but not limited to those with respect to the closing of
the offering, involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Gold Wheaton
to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include,
among other risks, risks related to the closing of the offering, the payment of
funds to First Uranium Corp. as well as those factors discussed in the section
entitled "Description of Business - Risk Factors" in Gold Wheaton's Annual
Information Form dated August 19, 2008 as filed on SEDAR. Although Gold Wheaton
has attempted to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.

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