Koné deposit and 0.5 grams per tonne for the 
     Gbongogo deposit, both assuming a gold price of $1,800 
     per ounce. 
9.  The Gold Stream provides that Montage will deliver 
     gold equal to19.5% of the payable gold until a total 
     of 400 Koz of gold has been delivered, subject to 
     adjustment if there are delays in deliveries relative 
     to an agreed schedule, then 10.8% of the payable gold 
     until an additional 130 Koz of gold has been delivered, 
     then 5.4% of payable gold for the life of the mine. 
 

Neil Burns, P.Geo., Vice President, Technical Services for Wheaton Precious Metals and Ryan Ulansky, P.Eng., Vice President, Engineering, are a "qualified person" as such term is defined under National Instrument 43-101, and have reviewed and approved the technical information disclosed in this news release (specifically Mr. Burns has reviewed mineral resource estimates and Mr. Ulansky has reviewed the mineral reserve estimates).

Conference Call

A conference call will be held on October 24, 2024, starting at 10:30am Eastern Time to discuss these transactions. A presentation on the transaction will be available on the Company's website shortly before the conference call. To participate in the live call, please use one of the following methods:

RapidConnect URL: Click here

Live webcast: Click here

Dial toll free: 1-888-510-2154 or 1-437-900-0527

Conference Call ID: 82162

This conference call will be recorded and available until October 31, 2024 at 11:59 pm ET. The webcast will be available for one year. You can listen to an archive of the call by one of the following methods:

Dial toll free from Canada or the US: 1-888-660-6345

Dial from outside Canada or the US: 1-289-819-1450

Pass code: 82162 #

Archived webcast: Click here

Fenix Project Update

On October 21, 2024, Rio2 Limited ("Rio2") announced an expanded relationship with Wheaton whereby WPMI now will provide a full financing package for the construction, development, operation, commissioning and ramp-up of the Fenix Gold Project (the "Fenix Project"). WPMI will pay Rio2 additional upfront cash consideration of $100 million (over and above the remaining $25 million payable under the existing stream with Rio2), in exchange for which Rio2 will deliver 95,000 ounces of gold from the Fenix Project (subject to adjustment if there are delays in deliveries relative to an agreed schedule). In addition, the Company has also agreed to adjust the production payment for all gold ounces delivered to 20% of the spot gold price. Rio2 has a one-time option to terminate the requirement to deliver the additional gold production from the end of 2027 until the end of 2029 by delivering 95,000oz less any of the previously delivered gold ounces.

Wheaton will also provide a US$20 million contingent cost overrun facility in the form of a standby loan facility. Lastly, Wheaton has committed to participate in a private placement of Rio2 common shares for C$5 million at a price per share equal to, and concurrent with, a public offering by Rio2.

About Wheaton Precious Metals

Wheaton is the world's premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. As a result, Wheaton has consistently outperformed gold and silver, as well as other mining investments. Wheaton is committed to strong ESG practices and giving back to the communities where Wheaton and its mining partners operate. Wheaton creates sustainable value through streaming for all of its stakeholders.

 
_______________________ 
1) Please refer to the Attributable Mineral Reserves 
 & Mineral Resources table in this news release for 
 full disclosure of reserves and resources associated 
 with the Koné Project including accompanying 
 footnotes. 
 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release 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 concerning the business, operations and financial performance of Wheaton and, in some instances, the business, mining operations and performance of Wheaton's Precious Metals Purchase Agreement ("PMPA") counterparties. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements with respect to:

   -- payment by WPMI of $600 million to Montage and the satisfaction of each 
      party's obligations in accordance with the Gold Stream; 
 
   -- the receipt by WPMI of gold production in respect of the Project; 
 
   -- the advance by WPMI, and the repayment by Montage, of up to $75 million 
      to Montage in connection with the Facility; 
 
   -- payment by WPMI of $125 million to Rio2 and the satisfaction of each 
      party's obligations in accordance with the Fenix Gold Project stream (as 
      amended); 
 
   -- the receipt by WPMI of gold production in respect of the Fenix Gold 
      Project; 
 
   -- the advance by WPMI, and the repayment by Rio2, of up to $20 million to 
      Rio2 in connection with the Rio2 standby loan facility; 
 
   -- the receipt by WPMI of all amounts owing under the Facility, including, 
      but not limited to, interest; 
 
   -- the estimation of future production from the mineral stream interests and 
      mineral royalty interests currently owned by the Company (the "Mining 
      Operations") (including in the estimation of production, mill throughput, 
      grades, recoveries and exploration potential); 
 
   -- the estimation of mineral reserves and mineral resources (including the 
      estimation of reserve conversion rates and the realization of such 
      estimations); 
 
   -- the commencement, timing and achievement of construction, expansion or 
      improvement projects by Wheaton's PMPA counterparties at Mining 
      Operations; 
 
   -- the payment of upfront cash consideration to counterparties under PMPAs, 
      the satisfaction of each party's obligations in accordance with PMPAs and 
      the receipt by the Company of precious metals and cobalt production or 
      other payments in respect of the applicable Mining Operations under 
      PMPAs; 
 
   -- the ability of Wheaton's PMPA counterparties to comply with the terms of 
      a PMPA (including as a result of the business, mining operations and 
      performance of Wheaton's PMPA counterparties) and the potential impacts 
      of such on Wheaton; 
 
   -- future payments by the Company in accordance with PMPAs, including any 
      acceleration of payments; 
 
   -- the costs of future production; 
 
   -- the estimation of produced but not yet delivered ounces; 
 
   -- the future sales of Common Shares under, the amount of net proceeds from, 
      and the use of the net proceeds from, the at-the-market equity program; 
 
   -- continued listing of the Common Shares on the LSE, NYSE and TSX; 
 
   -- any statements as to future dividends; 
 
   -- the ability to fund outstanding commitments and the ability to continue 
      to acquire accretive PMPAs; 
 
   -- projected increases to Wheaton's production and cash flow profile; 
 
   -- projected changes to Wheaton's production mix; 
 
   -- the ability of Wheaton's PMPA counterparties to comply with the terms of 
      any other obligations under agreements with the Company; 
 
   -- the ability to sell precious metals and cobalt production; 
 
   -- confidence in the Company's business structure; 
 
   -- the Company's assessment of taxes payable, including taxes payable under 
      the GMT, and the impact of the CRA Settlement, and the Company's ability 
      to pay its taxes; 
 
   -- possible CRA domestic audits for taxation years subsequent to 2016 and 
      international audits; 
 
   -- the Company's assessment of the impact of any tax reassessments; 
 
   -- the Company's intention to file future tax returns in a manner consistent 
      with the CRA Settlement; 
 
   -- the Company's climate change and environmental commitments; and 
 
   -- assessments of the impact and resolution of various legal and tax matters, 
      including but not limited to audits 

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:

   -- risks relating to the satisfaction of each party's obligations in 
      accordance with the terms of the Gold Stream; 
 
   -- risks relating to the satisfaction of each party's obligations in 
      accordance with the terms of the Facility; 
 
   -- risks relating to the satisfaction of each party's obligations in 
      accordance with the terms of the Fenix Gold Project stream; 
 

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