GLW Galway Gold Inc

Gold Wheaton Gold Corp. (TSX VENTURE:GLW) ("Gold Wheaton" or the "Company") is
pleased to announce that it has reached an agreement in principal regarding a
debt financing by way of senior secured notes ("Notes"). The Notes will bear
interest at the rate of 10% per annum and will have a five year term. Sprott
Asset Management Inc on behalf of certain funds and managed accounts ("Sprott")
has agreed to subscribe for Notes in the principal amount of C$100,000,000. Gold
Wheaton has also agreed to issue to Sprott 125 million warrants with a five year
term, and exercisable at a price of C$0.50 per share. Gold Wheaton will have the
option to increase the offering of Notes to a total principal amount of
C$115,000,000 with additional proportional warrants on the same terms described
herein. Gold Wheaton was advised by Paradigm Capital Inc.


Completion of the debt financing is subject to standard conditions including
completion of due diligence by Sprott, receipt of necessary board approvals and
execution and delivery of definitive note and security documentation. The debt
financing is also subject to requisite regulatory approval including the
approval of the TSX Venture Exchange.


The net proceeds of the debt financing will be used for general corporate
purposes, including gold stream acquisitions.


"We are exceptionally pleased to have Sprott Asset Management as a financial
partner." said David Cohen, Chairman and CEO of Gold Wheaton. "Sprott has a
history of recognizing value in long-term resource trends and this facility
signifies their endorsement of Gold Wheaton. This C$100 million significantly
augments our cash position in a non-dilutive manner and positions us well to
execute future accretive transactions on behalf of our shareholders."


Gold Wheaton is a gold company with 100% of its operating revenue from the sale
of gold and precious metals produced by others. The Company is actively pursuing
further growth opportunities. The Company's 1,406,905,668 issued and outstanding
shares are listed on the TSX Venture Exchange under the symbol "GLW".


Cautionary Note Regarding Forward-Looking Statements

Safe Harbor Statement under the United States Private Securities Litigation
Reform Act of 1995: Except for the statements of historical fact contained
herein, the information presented constitutes "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements, including but not limited to those with respect to
the price of gold, platinum or palladium, the timing and amount of estimated
future production, costs of production, reserve determination and reserves
conversion rates 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 integration of
acquisitions, risks related to international operations, risks related to joint
venture operations, the actual results of current exploration activities, actual
results of current reclamation activities, conclusions of economic evaluations
and changes in project parameters as plans continue to be refined, future prices
of gold or uranium, the timing and amount of estimated future production and the
costs thereof; capital expenditures; the availability of any additional capital
required to bring future projects into production; future prices of commodities;
the failure of plant, equipment or processes to operate as anticipated;
accidents; labour disputes; delays in obtaining governmental approvals, permits
or financing or in the completion of development or construction activities;
currency fluctuations, 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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