Silver Wheaton Announces Management Appointments
December 08 2009 - 5:00PM
PR Newswire (US)
VANCOUVER, December 8 /PRNewswire-FirstCall/ -- Silver Wheaton
Corp. (TSX, NYSE:SLW) ("Silver Wheaton" or the "Company") is
pleased to announce that Mr. Randy V.J. Smallwood, P.Eng. has been
appointed as the President of Silver Wheaton, effective January 1,
2010. Mr. Peter Barnes will remain in the role of Chief Executive
Officer, continuing to have overall responsibility for the
direction of the Company. To further strengthen Silver Wheaton's
team, Mr. Frazer Bourchier, P.Eng. will join Silver Wheaton as Vice
President, Business Development and Technical Services, also
effective January 1, 2010. "Randy was a co-founder of Silver
Wheaton in 2004 and has been instrumental in helping build Silver
Wheaton into the largest silver streaming company in the world,"
said Peter Barnes, Chief Executive Officer of Silver Wheaton. "His
appointment as President is in recognition of his significant
contribution to our growth and his long term commitment to the
Company. In addition to his key role of continuing to identify high
quality growth opportunities, he will take on the added
responsibility of helping to increase awareness of the Silver
Wheaton brand. I am as excited as ever about the future prospects
of our Company and look forward to continuing to work with Randy
and the rest of the Silver Wheaton team to maintain Silver Wheaton
as the market leader in our sector. I would also like to welcome
Frazer Bourchier who has been appointed as Vice President, Business
Development and Technical Services." Randy Smallwood assumed the
role of Executive Vice President, Corporate Development of Silver
Wheaton in 2007 and has been primarily focused on growing the
Company through the evaluation and acquisition of silver stream
opportunities. Prior to 2007, Mr. Smallwood was Director of Project
Development for both Silver Wheaton and Goldcorp/Wheaton River
Minerals. In this role he was responsible for project evaluations
through a six-year period of acquisitions and corporate mergers,
ultimately helping to build Goldcorp into one of the largest gold
companies in the world. Before joining the original Wheaton River
group in 1993, Mr. Smallwood also worked with Homestake Mining
Company, Teck Corp. and Westmin Resources. Frazer Bourchier brings
over 20 years of high-level management experience to his new role,
most of which were spent with Placer Dome in Canada, South Africa
and Papua New Guinea. He is a qualified mining engineer with
Bachelor's and Master's degrees in Applied Science &
Engineering from the University of Toronto. Most recently, Mr.
Bourchier was Vice-President Operations and Business Development
for Intrepid Mines. About Silver Wheaton Silver Wheaton is the
largest silver streaming company in the world. Forecast 2009
production is 16 million ounces of silver and 17,000 ounces of
gold, for total production of 17 million silver equivalent ounces.
By 2013, annual production is anticipated to more than double to
approximately 39 million ounces of silver and 20,000 ounces of
gold, for total production of approximately 40 million silver
equivalent ounces. This growth is driven by the Company's portfolio
of world-class assets, including silver streams on Goldcorp's
Penasquito mine and Barrick's Pascua-Lama project. CAUTIONARY NOTE
REGARDING FORWARD LOOKING-STATEMENTS The information contained
herein contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to the future price of silver, the estimation of mineral reserves
and resources, the realization of mineral reserve estimates, the
timing and amount of estimated future production, costs of
production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Silver Wheaton to be materially different from those expressed or
implied by such forward-looking statements, including but not
limited to: fluctuations in the price of silver, the absence of
control over mining operations from which Silver Wheaton purchases
silver and risks related to these mining operations, including
risks related to fluctuations in the price of the primary
commodities mined at such operations, changes in laws and
regulations including taxation policies, actual results of mining
and exploration activities, changes in project parameters as plans
continue to be refined, as well as those factors discussed in the
section entitled "Description of the Business - Risk Factors" in
Silver Wheaton's Annual Information Form available on SEDAR at
http://www.sedar.com/ and in Silver Wheaton's Form 40-F on file
with the U.S. Securities and Exchange Commission in Washington,
D.C. Forward-looking statements are based on assumptions management
believes to be reasonable, including but not limited to: the
continued operation of the mining operations from which Silver
Wheaton purchases silver, no material adverse change in the market
price of commodities, that the mining operations will operate and
the mining projects will be completed in accordance with their
public statements and achieve their stated production outcomes, and
such other assumptions and factors as may be set out herein.
Although Silver Wheaton has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, 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. Silver Wheaton does not undertake to update any
forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws. For
further information: Brad Kopp, Director, Investor Relations,
Silver Wheaton Corp., Tel: 1-800-380-8687, Email: , Website:
http://www.silverwheaton.com/ DATASOURCE: Silver Wheaton Corp.
CONTACT: For further information: Brad Kopp, Director, Investor
Relations, Silver Wheaton Corp., Tel: 1-800-380-8687, Email: ,
Website: http://www.silverwheaton.com/
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