Wheaton River Minerals Ltd. today reported record net earnings of US$14.7 million (US$0.03 per share) for the three months ended September 30, 2003, in comparison with 2002 net earnings of US$0.9 million (US$0.01 per share).

Cash flows from operations were US$31.5 million (US$0.07 per share) for the quarter, compared with a cash outflow of US$2.7 million (US$0.01 per share) in 2002.

A total of 126,100 gold equivalent ounces (105,400 ounces of gold and 1.5 million ounces of silver) were sold during the quarter at a total cash cost of US$98 per gold equivalent ounce (net of copper credits). Copper sales totalled 28.3 million pounds.

Net earnings for the first nine months of 2003 amounted to US$29.8 million, a nine-fold increase compared with 2002 earnings of US$3.0 million.  Earnings per share tripled to US$0.08 per share in 2003 from US$0.03 per share in 2002.  For the nine months, 294,100 gold equivalent ounces (233,100 ounces of gold and 4.6 million ounces of silver) were sold at a total cash cost of US$114 per gold equivalent ounce (net of copper credits). Copper sales totalled 60 million pounds.

“Over a period of fifteen months, Wheaton has successfully acquired long-life assets, producing over 500,000 gold equivalent ounces a year at cash costs of approximately US$100 per ounce. This makes Wheaton one of the world’s fastest growing, lowest-cost gold producers. Our recently announced acquisitions of two premier gold development projects will almost double our annual gold production within the next two years to over 900,000 gold equivalent ounces”, said Ian Telfer, Chairman & CEO.