FOR IMMEDIATE RELEASE
May 13, 2004 Wheaton River Minerals Ltd. (Vancouver, British Columbia) is pleased to report record net earnings of US$34 million (US$0.06 per share) for the three months ended March 31, 2004 compared with US$4 million (US$0.02 per share) for 2003. Operating cash flows for the three months were US$62 million, or US$0.11 per share (2003 – US$10 million, or US$0.04 per share). “Wheaton is not only the fastest growing but also one of the most profitable gold mining companies in the world,” stated Ian Telfer, Chairman & CEO, “In the end, it comes down to the exceptional quality of our assets and our people. We look forward to a successful merger with IAMGold, which will increase our ability to enhance shareholder value.” During the quarter, Wheaton sold 156,000 gold equivalent ounces at a total cash cost of minus US$67 per ounce (net of by-product copper sales). This compared with sales of 56,000 gold equivalent ounces at a total cash cost of US$175 per ounce in 2003. A conference call will be held Friday, May 14th at 11:30 EST to discuss these results. You may join the call by dialing toll free 1-877-461-2814, or (416) 695-9757 for calls from outside of Canada and the US. A playback of the call and audio webcast will also be available. Please find details on the website at www.wheatonriver.com on the day of the event. Wheaton is a leading gold producer and expects 2006 production from all of its mines to increase to approximately 900,000 gold equivalent ounces at a total cash cost of less than US$100 per ounce. Current production exceeds 500,000 gold equivalent ounces (over 400,000 ounces of gold and 7 million ounces of silver) at a total cash cost of less than US$50 per ounce. On March 30, 2004, Wheaton and IAMGold announced a proposed business combination which will create one of the world’s ten largest gold producers. The new company will have operating interests in seven gold operations located in the Americas, West Africa and Australia. Forecast annualized 2004 production will be one million gold equivalent ounces at a total cash cost of less than $100 per ounce. The annual and special meeting of the shareholders of Wheaton is to be held at the Design Exchange, 234 Bay Street, Toronto Dominion Centre, Toronto, Ontario on Tuesday, June 8, 2004 at 11:00 am (EST), in order to approve the proposed business combination. For further information please contact Wheaton River Minerals Ltd. Investor Relations at 1-800-567-6223 or email ir@wheatonriver.com.
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