Gold Wheaton Gold Corp.

Gold Wheaton Gold Corp.

February 25, 2010 17:27 ET

Gold Wheaton Comments on the Reinstatement of Environmental Authorization for First Uranium’s Future Tailings Storage Facility

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 25, 2010) - Gold Wheaton Gold Corp. (TSX:GLW) (the "Company") has received notice from First Uranium Corporation (TSX:FIU)(JSE:FUM) ("First Uranium") that First Uranium has been notified by the North West Provincial Government's Department of Agriculture, Conservation, Environment and Rural Development ("NWDACERD") that they have issued a positive decision on the amendment application lodged by MWS last year pertaining to the Environmental Authorization ("EA") for a future Tailings Storage Facility ("TSF") for its Mine Waste Solutions tailings reclamation project ("MWS") near the town of Stilfontein, North West Province, South Africa. The amended environmental authorization now correctly describes the project location, including the site of the TSF south-east of the town of Stilfontein, and, subject to financing, allows MWS to immediately restart the construction of the TSF.

"Gold Wheaton is extremely pleased that this issue has been successfully resolved. We believe that with appropriate funding, the previously planned reduction in MWS gold production can now be reversed and that the second gold plant will continue to operate at full capacity until the TSF is able to accept tailings," said David Cohen, CEO and Chairman of Gold Wheaton.

Gold Wheaton is a gold company with 100% of its operating revenue from the sale of gold and precious metals produced by others. The Company has significant cash available and is actively pursuing specific further growth opportunities.

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented constitutes "forward looking statements". Such forward-looking statements, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gold Wheaton to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other risks, risks related to the timing and quantum of any dividends, if any and those factors discussed in the section entitled "Description of Business - Risk Factors" in Gold Wheaton's Annual Information Form dated December 10, 2009 as filed on SEDAR. Although Gold Wheaton 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of the content of this news release.

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