GLW Galway Gold Inc

Gold Wheaton Gold Corp. (TSX VENTURE: GLW) (the "Company") announces that it has received approval to list its common shares and listed warrants on the Toronto Stock Exchange (the "TSX").

The Company also announces that it will be proceeding with the previously announced consolidation of its common shares on a ten (old) for one (new) basis. The consolidation was overwhelmingly approved by shareholders at a special meeting held on January 11, 2010. The Company will be proceeding with the consolidation of all of its outstanding common share purchase warrants, including the listed warrants on the same ten (old) for one (new) basis.

The Company expects that the effective date for both the consolidation and commencement of trading on the TSX will be Thursday, February 4, 2010. The common shares and listed warrants will continue to trade on a non-consolidated basis on the TSX Venture Exchange until the close of market on Wednesday, February 3, 2010. Upon listing on the TSX, the common shares and listed warrants will be delisted from the TSX Venture Exchange. The Company will continue to use the stock symbol "GLW" for trading in the common shares and "GLW.WT" for trading in the listed warrants on the TSX.

After the consolidation becomes effective, each shareholder of the Company will hold one post-consolidation share for every ten pre-consolidation shares, with the result that after the consolidation the Company will have outstanding approximately 143,047,466 common shares. Each holder of listed warrants will hold one post-consolidation warrant for every ten pre-consolidation warrants, each post-consolidation warrant having an exercise price of $10.00 per share. After the consolidation becomes effective, the Company will have outstanding approximately 25,999,999 listed warrants with an expiry date of July 8, 2013.

Separately, Gold Wheaton has adopted a dividend policy to pay a sustainable dividend as determined from time to time by its board of directors. The amount of any dividend, if any, will be based on the Company's financial performance, liquidity and outlook. The Company currently anticipates that if it determines to declare a dividend, it will do so semi-annually concurrent with the release of the Company's year end and Q2 financial results.

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented constitutes "forward looking statements". Such forward-looking statements, including but not limited to those with respect to the listing of its common share and warrants and the payment of dividends, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gold Wheaton 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 timing and completion of the proposed listing on the TSX and the proposed consolidation, the timing and quantum of any dividends, if any and those factors discussed in the section entitled "Description of Business - Risk Factors" in Gold Wheaton's Annual Information Form dated December 10, 2009 as filed on SEDAR. Although Gold Wheaton 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of the content of this news release.

Contacts: Gold Wheaton Gold Corp. David Cohen Chairman and Chief Executive Officer +1.778.373-0107 +1.604.434-1487 (FAX) info@goldwheaton.com