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Gold/Mining/Energy : Wheaton River Minerals (WRM Toronto) -- Ignore unavailable to you. Want to Upgrade?

To: Dave M who wrote (163)	9/15/1998 8:53:00 PM
From: Dave M	Read Replies (1) \| Respond to of 350

News Release: stock is undervalued, WRM to buy. Sounds like good news to me. SEPTEMBER 15, 1998 Wheaton River Announces Normal Course Issuer Bid TORONTO, ONTARIO--Wheaton River Minerals Ltd. announced today that The Toronto Stock Exchange has accepted notice of its intention to make a normal course issuer bid for its common shares through the facilities of The Toronto Stock Exchange. The notice provides that the Corporation may, during the 12 month period commencing September 17, 1998 and ending September 16, 1999, purchase on The Toronto Stock Exchange up to 2,030,706 common shares in total, being approximately 5 percent of the outstanding common shares of the Corporation. The price which the Corporation will pay for any such shares will be the market price at the time of acquisition and any shares acquired will be cancelled. The actual number of common shares which may be purchased and the timing of any such purchases will be determined by the Corporation. There are 40,614,132 common shares of the Corporation outstanding. Wheaton River believes that its common shares have been trading in a price range which does not adequately reflect their value in relation to the Corporation's business and its future business prospects. As a result, depending upon future price movements and other factors, the Corporation believes that its outstanding common shares may represent an attractive investment and a desirable use of a portion of its available funds. Wheaton River currently has cash of $6.8 million, and no bank debt. The Company is engaged in the business of exploration for and mining of precious metals. The Company's principal asset is its 88.1 percent ownership of North American Metals Corp. (''NAM''), a public company listed on the Vancouver Stock Exchange which is the 100 percent owner of the Golden Bear Mine located in northwestern British Columbia. The remaining 11.9 percent of the outstanding shares of NAM is widely held. The Golden Bear Mine commenced production in late 1989 and produced 217,893 ounces of gold to September 1994, when production of gold was suspended. Gold production recommenced in August 1997 and 30,900 ounces of gold were produced in 1997. So far in 1998, 33,000 ounces of gold have been produced. The Company also holds a 100 percent interest in the advanced exploration stage Bellavista gold project in Costa Rica and has completed a pre-feasibility study on the project. A bankable final feasibility is expected to be completed by early 1999. The Bellavista gold project consists of one exploitation concession, two exploration concessions and one application for an exploitation concession. The Bellavista gold project is located in the Montezuma/Bellavista district of Costa Rica which has been producing gold since the late 1800's. The Corporation's common shares are listed for trading on The Toronto Stock Exchange. FOR FURTHER INFORMATION PLEASE CONTACT: Wheaton River Minerals Ltd. Kerry J. Knoll Vice-President, Investor Relations (416) 860-0919 or Wheaton River Minerals Ltd. Ian J. McDonald Chairman and Chief Executive Officer (416) 860-0919 -------------------------------------------------------------------------------- Dave M