Mr. Brad Kopp reports

SILVER WHEATON DECLARES SECOND QUARTERLY DIVIDEND PAYMENT FOR 2012

Silver Wheaton Corp.'s board of directors has declared its second quarterly cash dividend payment for 2012 of nine U.S. cents per common share. The quarterly dividend will be paid to holders of record of its common shares as of the close of business on May 23, 2012, and will be distributed on or about June 6, 2012.

Under the company's dividend policy, the quarterly dividend per common share is equal to 20 per cent of the cash generated by operating activities in the previous quarter divided by the company's outstanding common shares at the time the dividend is approved, all rounded to the nearest cent.

The declaration, timing, amount and payment of future dividends remain at the discretion of the board of directors. This dividend qualifies as an eligible dividend for Canadian income tax purposes.

We seek Safe Harbor.