NEWS RELEASES

Gold Wheaton Closes C$115 Million Equity Financing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Vancouver, British Columbia – March 5, 2009 - Gold Wheaton Gold Corp. (TSXV: GLW) (the “Company”) announces that it has closed its previously announced C$100 million equity financing, including the full exercise of the underwriters’ over-allotment option, for aggregate gross proceeds to the Company of C$115 million. A syndicate of underwriters, co-led by Paradigm Capital Inc., Canaccord Capital Corporation, and GMP Securities L.P. and including BMO Nesbitt Burns Inc., and Scotia Capital Inc. purchased 460 million units (“Units”) of the Company at a price of C$0.25 per Unit. Each Unit consists of one common share and one half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at an exercise price of C$0.50 per common share for a period of two years from the closing date.

The Company intends to use the net proceeds from the offering to pay the balance of the purchase consideration payable by the Company in connection with the First Uranium Corp. gold stream purchase transaction and the remainder, for general working capital purposes.

For further information, please contact:
Gold Wheaton Gold Corp.
Investor Relations
+1.778.373-0107 (phone)
+1.604.434-1487 (fax)
info@goldwheaton.com

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

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

Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented constitutes “forward looking statements” and “forward-looking information”. Such forward-looking statements and information, including but not limited to those with respect to the use of the net proceeds of the offering, 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 and information. Such factors include, among other risks, the payment of funds to First Uranium Corp., as well as those factors discussed in the section entitled “Description of Business - Risk Factors” in Gold Wheaton’s Annual Information Form dated August 19, 2008 and in the section entitled “Risk Factors” in Gold Wheaton’s short form prospectus dated February 26, 2009 in respect of the offering, each 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 and information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements and information. Accordingly, readers should not place undue reliance on forward-looking statements and information.