GLW Galway Gold Inc

Gold Wheaton Gold Corp. (TSX VENTURE:GLW) ("GWC") is pleased to announce that
Gold Wheaton (Barbados) Corporation ("Gold Wheaton"), a wholly-owned subsidiary
of GWC, has signed a definitive agreement with First Uranium Corporation
(TSX:FIU)(JSE:FUM) ("First Uranium") and its subsidiary Ezulwini Mining Company
(Proprietary) Limited ("EMC"). Gold Wheaton will purchase seven percent of the
life of mine gold production from EMC's mining right over the Ezulwini Mine (the
"Transaction") and which covers an area of approximately 3,718 hectares, located
approximately 40 kilometres from Johannesburg, in the Province of Gauteng, in
the Western portion of the Witwatersrand basin, South Africa.


The Transaction is expected to close in late November 2009.

Under the terms of the Transaction, Gold Wheaton will pay First Uranium US$50
million on closing and will make an ongoing payment equal to the lesser of
US$400 per delivered ounce and the prevailing spot price of gold, subject to an
annual inflation adjustment of one percent, starting on the fourth anniversary
of closing. Gold Wheaton will not be required to contribute to any capital or
exploration expenditures in respect of the Ezulwini Mine.


EMC has redeveloped the old North Section of the Western Areas gold mine (in
operation since the early 1960s) with a new mining area being opened up and a
new gold and uranium processing plant recently constructed and commissioned. The
operation has extensive existing infrastructure, relatively shallow mining
operations and by-product uranium credits. The mining and processing operations
are currently ramping up to design production levels.


"With this new gold stream from Ezulwini, one of First Uranium's two South
African operations, we add an average of approximately 25,000 ounces per year
over the life of the operation to our existing annual production. The long life
gold and uranium mine should be at the lower end of the production cost curve
and has significant potential upside for additional production from its large
resource base. The transaction will be financed from cash on hand, leaving us
well funded to continue to grow," commented David Cohen, Chairman and CEO of
GWC. "As the mine is currently ramping up production, we expect to receive
immediate additional production from the transaction, a guaranteed minimum
delivery of 16,500 ounces in 2010 and 19,500 ounces in 2011 and an average
annual delivery of approximately 26,000 ounces thereafter. We are pleased to
solidify our existing relationship through this second transaction with First
Uranium, adding to the initial agreement with respect to their Mine Waste
Solutions project in November 2008."


Closing of the Transaction is subject to receipt of all required governmental,
regulatory and stock exchange approvals and third-party consents.


GWC will also call and hold a special meeting of shareholders to approve a
consolidation of the common shares of GWC on the basis of 1 new common share for
every 10 issued and outstanding common shares. No fractional shares will be
issued and any fractions of a share will be rounded down to the nearest whole
number of common shares.


At today's date, GWC has 1,430,496,668 issued and outstanding shares and
post-consolidation, GWC will have 143,049,666 issued and outstanding shares.
Upon the consolidation outstanding stock options and warrants will, in
accordance with their terms, be exercisable into post-consolidation shares at
appropriately adjusted exercise prices.


The share consolidation is subject to shareholder approval and TSX Venture
Exchange acceptance.


GWC will release third quarter results on Tuesday November 10th, 2009 after the
market closes and will host a telephone conference call, Thursday November 12th,
2009, at 10:00am PST (1:00pm EST) to discuss the results. The impact of the
Ezulwini transaction will also be discussed at that time. The conference call
may be accessed by dialing 1-800-319-4610 in Canada and the United States, or
+1-604-638-5340 internationally.


The conference call will be archived for later playback until Thursday November
19th, 2009 and can be accessed by dialling +1-604-638-9010 or 1-800-319-6413 and
using the pass code 3504 followed by the number sign, #.


Cautionary Note Regarding Forward-Looking Statements

Safe Harbor Statement under the United States Private Securities Litigation
Reform Act of 1995: Except for the statements of historical fact contained
herein, the information presented constitutes "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements, including but not limited to those with respect to
the price of gold, platinum or palladium, the timing and amount of estimated
future production, costs of production, reserve determination reserves
conversion rates and the proposed consolidation involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of GWC or First Uranium to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among other risks, risks
related to the integration of acquisitions, risks related to international
operations, risks related to joint venture operations, the actual results of
current exploration activities, actual results of current reclamation
activities, conclusions of economic evaluations and changes in project
parameters as plans continue to be refined as well as future prices of gold,
platinum or palladium, as well as those factors discussed in the section
entitled "Description of Business - Risk Factors" in GWC's Annual Information
Form dated August 19, 2008 as filed on SEDAR. Although GWC 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 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.

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