Wheaton River Minerals Ltd. (“Wheaton”) is pleased to announce that it has received a US$86 million cash distribution from Alumbrera.  Since March, 2003, the initial acquisition date of Wheaton’s interest in Alumbrera, Wheaton has received cash distributions totalling US$132 million.  In addition, Wheaton’s share of the Alumbrera project debt, US$91 million, has been repaid, giving a total cash return of US$223 million. 

“This represents an 83% return on Wheaton’s investment in Alumbrera of US$270 million, in a period of 18 months,” said Ian Telfer, Chairman and CEO of Wheaton.  “By any measure, this represents a phenomenal return.”

Alumbrera is now debt free and all cashflows will be available for distribution to its shareholders.

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.

For further information please contact Wheaton River Minerals Ltd. Investor Relations at 604-696-3011 or email ir@wheatonriver.com.