Wheaton River Minerals Ltd. (WRM: TSX) announced the completion of its previously announced acquisition of Minas Luismin, S.A. de C.V. The purchase price consisted of US$75 million in cash and 9,084,090 Wheaton River Common Shares. The Company has also agreed to issue an additional 11,355,113 Wheaton River Common Shares if the price of silver averages US$5 or more over a period of 60 consecutive trading days prior to June 19, 2004.

The Company recently raised CAD$126.5 million to fund the cash portion of the purchase price for the acquisition. The success of Wheaton River’s financing has allowed it to retire debt owed by Luismin and as a result Wheaton River goes forward as a debt free company. Following the acquisition, Wheaton River has approximately CAD$31 million in cash and equivalents.

Wheaton is now an intermediate gold and silver producer, with Luismin's 2001 production of 190,600 gold equivalent ounces at a cash cost of US$198 per gold equivalent ounce (98,000 ounces of gold and 5.75 million ounces of silver at a conversion rate of 62 ounces of silver per ounce of gold). From January to May 2002, Luismin produced 78,940 gold equivalent ounces at a cash cost of US$197 per gold equivalent ounce (43,650 ounces of gold and 2.3 million ounces of silver at a conversion rate of 66 ounces of silver per ounce of gold).

Antonio Madero, the Chairman and CEO of Sanluis, and Eduardo Luna, the President of Luismin will join the Board of Directors of Wheaton River on June 25, 2002 and Mr. Luna will continue in his current position at Luismin.

"With a strong balance sheet, growing production and declining costs, Wheaton River will continue to grow," said Ian Telfer, Chairman and CEO of Wheaton River, adding "I am very excited that we were able to acquire such a strong asset and experienced management team at what we believe to be the early stages of a prolonged bull market for precious metals. Luismin provides a great platform to allow us to continue on a strong growth path."

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, the timing and amount of estimated future production, costs of production, reserve determination, reserve conversion rates, the timing of the development of new deposits, the Company’s hedging practices, permitting time lines, and the timing and possible outcome of pending litigation involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual results of current exploration activities, actual results of current reclamation activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold and silver, as well as those factors discussed in the section entitled "Risk Factors" in the Annual Information Form and in the Form 20-F as on file with the Securities and Exchange Commission in Washington, D.C. Although the Company 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.

For further information please contact Wheaton River Minerals at 1-800-567-6223 or e-mail: info@wheatonriver.com.