March 19, 2003 – Vancouver, BC– Wheaton River Minerals Ltd. today reported net earnings of US$5.6 million or US$0.04 per share for 2002 compared to a net loss of US$10.7 million or US$0.18 per share in 2001.

Since acquiring the Mexican assets in June 2002:

• Revenue more than tripled to US$35 million in 2002 compared to US$9 million in 2001;
• Earnings from mining operations increased significantly to US$12.2 million in 2002 compared to US$1.5 million in 2001;
• Gold equivalent sales were 106,337 ounces at a total cash cost of US$182 per ounce;
• Ended the year with cash and cash equivalents of US$23 million.

Chairman and CEO Ian Telfer stated, “These spectacular results reflect the strong management and experienced personnel at our Mexican operations.”

A conference call to discuss these results will be held Thursday, March 20, 2003, at 4:00 p.m. Eastern Time (1:00 p.m. Pacific Time). You may join the call by dialing 1-877-888-4210, or 416-695-5261 for calls outside of Canada and the US.

Financial Statement Highlights
Year Ended December 31, 2002
(US Dollars)

The Company achieved substantial growth during the year to become a significant producer of gold and other precious metals, as a result of the acquisition of the Luismin mining operations in Mexico.

Acquisition of Luismin

On June 19, 2002, the Company acquired all of the outstanding shares of Luismin SA de CV (“Luismin”), a Mexican gold and silver producer that owns three mining operations, for a purchase price of $85,071,000. Consequently, the results of operations of Luismin have been consolidated since that date.

During the year, the Company completed a private placement for gross proceeds of $82,068,000 to fund this acquisition.

Net earnings for the year were $5,602,000 ($0.04 per share), compared with a net loss of $10,733,000 ($0.18 per share) in 2001.

Earnings from mining operations were $12,235,000 in 2002, compared with $1,503,000 in 2001, reflecting the Luismin acquisition during 2002.

The 2002 net earnings include earnings of $4,990,000 from the Mexican operations, for the six months from the date of acquisition to December 31, 2002. During this period, the Company sold 106,337 gold equivalent ounces (59,662 ounces of gold and 3,208,924 ounces of silver) at an average price of $326 per ounce, generating revenues of $34,693,000. Total cash costs were $182 per gold equivalent ounce.

In comparison, during 2001 Wheaton generated revenues of $9,010,000 through the sale of 33,711 ounces of gold from the Golden Bear mine in Canada. Total cash costs were $167 per ounce, as 2001 was the last year of commercial production. Reclamation of the site is now in process.

Net earnings for the three months ended December 31, 2002 were $2,577,000 ($0.01 per share), compared with $2,665,000 ($0.04 per share) in 2001. During the quarter, the Company sold 55,593 gold equivalent ounces (32,270 ounces of gold and 1,672,206 ounces of silver) at an average price of $323 per ounce, generating revenues of $17,938,000. Total cash costs were $184 per gold equivalent ounce. Sales for the comparative period in 2001 were nominal.

The Company ended 2002 with cash and cash equivalents of $22,936,000 (2001 - $1,735,000) and net working capital of $ 24,422,000 (2001 - $17,372,000).

At December 31, 2002, total shareholders’ equity was $108,054,000 (2001 - $16,316,000) and total assets amounted to $152,098,000 (2001 - $21,207,000).

Effective March 17, 2003, the Company acquired Rio Tinto’s 25% interest in the Bajo de la Alumbrera gold-copper mine in Argentina and 100% interest in the Peak gold mine in Australia, for cash consideration of $214 million. In order to finance the acquisition, the Company raised gross proceeds of Canadian $333,500,000 by way of private placement, in what is believed to be the largest gold equity financing done in Canada.

As a result of this acquisition, the Company projects 2003 production, on an annualized basis, of 458,500 gold equivalent ounces at a cash cost of $124 per gold equivalent ounce.

Wheaton River Minerals Ltd.
Consolidated Statements of Operations
Years Ended December 31
(US dollars and shares in thousands, except per share amounts)

Wheaton River Minerals Ltd.
Consolidated Balance Sheets
At December 31
(US dollars and shares in thousands)

Wheaton River Minerals Ltd.
Consolidated Statements of Cash Flows
Years Ended December 31
(US dollars in thousands)

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, silver and copper, the timing and amount of estimated future production, costs of production, reserve determination and reserve conversion rates involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Wheaton River to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, 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, changes in project parameters as plans continue to be refined, future prices of gold, silver and copper, as well as those factors discussed in the section entitled “Risk Factors” in the Form 20-F on file with the Securities and Exchange Commission in Washington, D.C. Although WheatonRiver 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 Ltd. Investor Relations at 1-800-567-6223 or visit www.wheatonriver.com.