FOR IMMEDIATE RELEASE | TSX:SLW |
August 11, 2005 | AMEX:SLW |
Silver Wheaton Acquires Shares of Bear Creek Mining Corporation
Vancouver, British Columbia – Silver Wheaton Corp. (TSX, AMEX:SLW) (“Silver Wheaton”) , in accordance with regulatory requirements, announces that it has acquired 4,821,905 common shares of Bear Creek Mining Corporation (TSXV:BCM) (“Bear Creek”) on the open market at a price of CDN$3.03. These securities represent a 15% interest in Bear Creek on an undiluted basis, and a 12.2% interest on a fully diluted basis.
The above-noted securities were acquired by Silver Wheaton for investment purposes. These investments will be reviewed on a continuing basis and such holdings may be increased or decreased in the future.
Silver Wheaton is the only mining company with 100% of its revenue from silver production, reporting record earnings of US$6.7 million for the second quarter of 2005. Silver Wheaton is debt-free, unhedged and well positioned for further growth.
For further information, please contact:
David Awram
Investor Relations Manager
Silver Wheaton Corp.
Tel: 1-800-380-8687
Email: info@silverwheaton.com
Website: www.silverwheaton.com