GLW Galway Gold Inc

Gold Wheaton Gold Corp., ("Gold Wheaton") (TSX VENTURE:GLW) is pleased to
announce the financial results of operations for the three and six months ended
June 30, 2009 (unless otherwise indicated, all dollar amounts are expressed in
United States dollars).


2009 Second Quarter Highlights

- Revenue from the sale of precious metals for Q2-2009 was $16.3 million, $7.5
million higher as compared to Q1-2009.


- EBITDA(1) for three months ended June 30, 2009 ("Q2-2009") was $5.2 million
compared to $6.3 million for the three months ended March 31, 2009 ("Q1-2009").
EBITDA was lower by $1.1 million in Q2-2009 mainly due to a higher deemed
foreign exchange loss ($4.9 million) as result of a strengthening of the
Canadian dollar related to the outstanding promissory note due to FNX;
substantially offset by higher earnings from mining operations before
depreciation ($3.8 million).


- For Q2-2009 Gold Wheaton sold a total of 17,546 gold equivalent ounces as
compared to 8,094 gold equivalent ounces in Q1-2009. FNX Mining Company Ltd.
("FNX") sold to Gold Wheaton approximately 10,592 gold equivalent ounces after
settlement of prior period sales in Q2-2009 compared to 5,218 gold equivalent
ounces in Q1-2009. The gold sold to Gold Wheaton from First Uranium Corporation
("First Uranium") was approximately 6,954 ounces in Q2-2009 compared to 2,876
ounces in Q1-2009.


- Net income for the Q2-2009 was $0.2 million (income of $0.00 per share)
compared to a net loss of $0.8 million (loss of $0.00 per share) in Q1-2009.
Higher income in Q2-2009 compared to Q1-2009 is mainly due to higher deliveries
from FNX and First Uranium, and higher metal prices yielding higher earnings
from mining operations of $1.5 million.


- At June 30, 2009, the Company had cash and short term investments of $76.9
million and working capital of $84.2 million compared to $20.4 million and $29.2
million, respectively, on March 31, 2009.


- On May 26, 2009, the Company closed a CDN$100 million debt financing with a
CDN$15 million overallotment option. The Company issued the 10% Senior Secured
Notes due May 26, 2014 (the "Series 1 Notes"), with a principal amount of CDN$57
million. In connection with the issuance of the Series 1 Notes, the Company
issued 71,250,000 warrants to the Secured Notes holders. The Company has drawn
$57 of the facility to date.


"We are pleased to see the anticipated ramp up in delivered ounces from both FNX
and First Uranium during the quarter," said David Cohen, Chairman and CEO. "The
plant expansion at the First Uranium MWS project is progressing well and we
anticipate seeing the additional ounces delivered during the third quarter as
planned."


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 six months ended June 30, 2009. These
financial statements and MD&A, and the comparative financial statements for the
three and six months ended June 30, 2009 are all available on SEDAR at
www.sedar.com and on the Company's website www.goldwheaton.com.


Teleconference call details

Gold Wheaton will host a telephone conference call on Wednesday, August 12,
2009, at 1:30pm PST (4:30pm EST) to discuss the results. The conference call may
be accessed by dialing 1-800-319-4610 in Canada and the United States, or
1-604-638-5340 internationally.


The conference call will be archived for later playback until Wednesday, August
19, 2009 and can be accessed by dialing 604-638-9010 or 1-800-319-6413 and using
the pass code 3504 followed by the number sign, #.


About the Company

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 shares are listed on the TSX Venture Exchange under the symbol
"GLW" with 1,430,469,668 shares issued and outstanding.


(1) EBITDA is a Non-GAAP financial measure as defined in MD&A.

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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