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To: John Paquet who wrote (343)	1/22/2000 12:42:00 AM
From: mr. ed	Read Replies (1) of 507

Friday January 21, 11:25 am Eastern Time Company Press Release Wheaton River Reports Record Earnings in 1999 TORONTO, ONTARIO--Wheaton River Minerals Ltd. today reported record net earnings of $7.6 million or $0.19 per share for the year ended December 31, 1999. Net earnings increased by $5.8 million in 1999 compared with the $1.8 million or $0.05 per share recorded in 1998. The 1999 earnings increase resulted mainly from significantly increased gold production at the Golden Bear Mine. The Company generated cash flow from operating activities of $13.1 million or $0.32 per share in 1999 compared with $6.3 million or $0.16 per share in 1998. Gold production from the Golden Bear Mine nearly doubled in 1999 to 71,300 ounces. Realized prices also increased to US$314 per ounce in 1999, from US$287 per ounce in 1998. The higher production resulted in a 113% increase in sales revenue to $33.3 million, from $15.6 million in 1998. Total cash costs in 1999 were US$162 per ounce compared with US$147 in 1998. Total cash costs for both years were significantly lower than the US$203 estimated in the original feasibility study. This was mainly because of higher grades mined from the Ursa deposit and better than expected recoveries on all ore. In 1999 costs were slightly offset by a higher waste stripping ratio in the Ursa pit. Cash at the end of the year was $12.3 million, compared with $5.8 million at the end of 1998. Working capital at year-end increased to $14.6 million, compared with $7.9 million at the end of the previous year. The Company continued to advance the Bellavista gold project in Costa Rica during 1999 by completing a positive feasibility study. Approximately $3.2 million was spent on the project during the year, compared with $4.3 million in 1998. Wheaton River is currently negotiating project financing and expects to be in a position to announce financing arrangements before the end of the first quarter. Contact: Ian J. McDonald Chairman and Chief Executive Officer (416) 860-0919 or Kerry J. Knoll Vice-President, Investor Relations (416) 860-0919

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