Vancouver, British Columbia: November 9, 2010 -- Gold Wheaton Gold Corp., ("Gold Wheaton") (TSX: GLW) is pleased to announce the financial results of its operations for the three and nine months ended September 30, 2010 (unless otherwise indicated, all dollar amounts are expressed in United States dollars).

2010 Third Quarter Highlights

Revenue from the sale of precious metals for the three months ended September 30, 2010 (“Q3”) was $26.4 million; $19.6 million higher than the three months ended September 30, 2009 (“Q3-2009”). This increase of 286% is as a result of both higher metal deliveries (from both FNX Mining Company Inc., a wholly owned subsidiary of Quadra FNX Mining Ltd., (“QUX”, formerly “FNX”) and First Uranium Corporation (“First Uranium”)) and higher precious metal prices.

Operating cash flow for Q3 was $20.8 million compared to $5.8 million for Q3-2009, an increase of 257%.

Net income for Q3 was $7.2 million ($0.04 per share) compared to a net loss of $3.1 million (loss of $0.02 per share) for Q3-2009. Higher net income in the current quarter was mainly due to increased earnings from mining operations, a gain on QUX note settlement and lower foreign exchange losses. These were partially offset by higher interest expense and a mark to market loss on derivative instruments.

During the quarter, 20,930 gold equivalent ounces were delivered to the Company compared to 6,535 gold equivalent ounces for the same period in 2009, an increase of 220%. In Q3, QUX delivered to Gold Wheaton approximately 11,911 gold equivalent ounces after the settlement of prior period sales compared to 937 gold equivalent ounces in Q3-2009. First Uranium delivered to Gold Wheaton approximately 9,018 gold ounces in Q3, compared to 5,598 ounces in Q3-2009.

At September 30, 2010, the Company had cash and short term investments of $119.7 million and working capital of $140.0 million compared to $87.1 million and $56.9 million, respectively, on December 31, 2009.
“We are pleased that both QUX and First Uranium continued to deliver ounces in accordance with our forecast production over the quarter. This follows the successful second quarter production and we look forward to growing our production by approximately 43% over the next 12 months.“ said David Cohen, Chairman and CEO.

Financial Information

For complete details of financial results, please refer to the unaudited interim consolidated financial statements and accompanying Management's Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2010. These financial statements and MD&A, and the comparative financial statements for the year ended December 31, 2009 are all available on SEDAR at www.sedar.com and on the Company's website www.goldwheaton.com