Wheaton Precious Metals Announces Closing of the Gold and Palladium Streaming Agreement on Stillwater

VANCOUVER, British Columbia, July 25, 2018 /PRNewswire/ --

TSX: WPM
NYSE: WPM

All $ are USD$

Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that the Company, through its wholly-owned subsidiary Wheaton Precious Metals International Ltd. ("Wheaton International") confirms that all outstanding conditions required to complete the gold and palladium stream agreement with Sibanye-Stillwater ("Sibanye-Stillwater") (JSE: SGL) (NYSE: SBGL) (the "Precious Metals Stream") have been fulfilled. Under the Precious Metals Stream, Wheaton International has paid a total upfront cash payment of US$500 million to Sibanye-Stillwater in exchange for an amount of gold equal to 100% of the gold production from the Stillwater assets over the operating life of the assets and an amount of palladium equal to: 4.5% of palladium production from the Stillwater assets until 375 thousand ounces ("Koz") are delivered to Wheaton International; thereafter, 2.25% of palladium production until 550 Koz are delivered; and subsequently 1% of palladium production for the life of the Stillwater assets. In addition, Wheaton International will make ongoing payments equal to a maximum of 18% of the spot gold price and spot palladium price until such time as the balance of the upfront cash payment is reduced to zero. Thereafter, ongoing payments will be 22% of the spot gold price and spot palladium prices. The Precious Metals Stream is effective July 1, 2018.

Full details of the transaction can be found in Wheaton's news release dated July 16, 2018.

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 "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements with respect to:

• the timing of delivery of gold and palladium by Sibanye-Stillwater under the Precious Metals Stream;
• the receipt of Wheaton of gold and palladium production in respect of Stillwater;
• the demand, uses and supply of gold and palladium;
• the construction timeline, including completion, of the Blitz Project; and
• the commencement and timing of delivery of gold and palladium by Sibanye-Stilwater under the Precious Metals Stream.

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", "projects", "intends", "anticipates" or "does not anticipate", or "believes", "potential", 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 Wheaton to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: