Wheaton Valuable Metals Completes In the past Introduced Gold Wave at the Hemlo Mine

VANCOUVER, BC, Nov. 26, 2025 /PRNewswire/ – Wheaton Valuable Metals™ Corp. (“Wheaton” or the “Company”) is happy to announce it has finished the up to now introduced Gold Wave (the “Gold Stream”) with Carcetti Capital Company (“Carcetti”) to help Carcetti’s acquisition (the “Acquisition”) of the Hemlo Mine from Barrick Mining Company (“Barrick”), which closed November 26, 2025. The utmost of this transaction will ship speedy manufacturing and money wave to Wheaton.

Carcetti’s ultimate financing bundle for the Acquisition incorporated:
(All values in US$ until differently famous)

• A $300 million Wheaton Gold Wave;
• Concurrent fairness financing with rude proceeds totalling $542 million (the “Equity Financing”), of which Wheaton participated within the quantity of roughly $30 million; and
• As much as $250 million in attic debt (the “Acquisition Facility”).

The Gold Wave is a key feature of Carcetti’s complete financing bundle, assisting  Carcetti with the capital required to finish the Acquisition and progress additional enhancements at Hemlo. Carcetti has elected to switch its identify to Hemlo Mining Corp. (“HMC”). Wheaton had in the beginning dedicated overall in advance attention of as much as $400 million, of which HMC elected an quantity of $300 million, in line with the phrases of the loyalty.

Gold Wave Key Phrases

• Prematurely Attention: Wheaton has paid HMC overall in advance money attention of $300 million (the “Deposit”).
• Streamed Steel: Wheaton will acquire 10.13% of the payable gold till a complete of 135,750 oz of gold has been delivered (the “First Dropdown Threshold”), at which level Wheaton will acquire 6.75% of the payable gold till an backup 117,998 oz of gold has been delivered (the “Second Dropdown Threshold”), at which level Wheaton will acquire 4.50% of payable gold for the lifestyles of the mine.  Every of the First Dropdown Threshold and the 2nd Dropdown Threshold might be matter to adjustment if there are delays in deliveries relative to an indubitably agenda, and setting out in 2033, if deliveries fall at the back of the indubitably agenda through 10 thousand oz (“Koz”) or extra, the wave proportion might be larger through 5% till deliveries meet up with the indubitably agenda. The payable gold might be diminished through part with recognize to gold manufacturing from sure claims comprising the Interlake vault. Payable gold is calculated the usage of a hard and fast payable issue of 99.95%.
• Efficient Time: The Gold Wave has an efficient era of October 31, 2025.
• Manufacturing Profile¹: Attributable Gold Wave manufacturing is forecast to reasonable roughly 15 Koz of gold in line with annum for the primary 10 complete years of manufacturing, and over 13 Koz in line with annum for the lifestyles of mine. The Hemlo Mine is forecast to have a 14-year mine lifestyles, with important brownfield exploration doable similar current underground infrastructure.
• Manufacturing Bills: Wheaton will construct ongoing bills for the gold oz delivered equivalent to twenty% of the spot value of gold.
• Incremental Reserves and Sources¹: The addition of the Hemlo Mine will build up Wheaton’s overall estimated Confirmed and Possible Mineral gold reserves through 0.19 million oz (“Moz”), Steady and Indicated Mineral gold sources through 0.06 Moz and Inferred gold sources through 0.03 Moz.
• Alternative Concerns:
• Wheaton will download a proper of first refusal on any pace treasured steel streams, royalties, prepays or matching transactions with recognize to the Hemlo Mine.
• HMC will lend Wheaton with company promises, in addition to first-priority safety pursuits on considerably all of HMC’s belongings on a shared foundation with the lenders below the Acquisition Facility.
• HMC is anticipated to conform in all subject matter appreciates with the World Trade Usual on Tailings Control, the Against Sustainable Mining Usual, and Wheaton’s Spouse/Provider Code of Habits, which outlines Wheaton’s expectancies in regard to environmental, social and governance (“ESG”) issues.

Financing the Transactions
As at September 30, 2025, the Corporate had roughly $1.2 billion of money available. Wheaton believes that, when mixed with the liquidity to be had below its $2 billion revolving time period mortgage and ongoing running money flows, it’s smartly located to charity the purchase of the Gold Wave. This monetary place helps remarkable constancy and identified contingencies, age offering flexibility to pursue backup accretive mineral wave pursuits.

About Hemlo Mining Corp. and the Hemlo Mine
Hemlo Mining Corp. is a Canadian-listed mining corporate, headquartered in Vancouver, British Columbia, led through an skilled management crew with a protracted historical past and deep figuring out of Hemlo. The Hemlo mine has produced roughly 25 million oz of gold, and has been running incessantly for greater than 30 years. Positioned simply north of Pond Admirable at the Trans-Canada Freeway, about 35 kilometres east of Marathon, Ontario, it’s lately an underground operation and has lengthy been thought to be a cornerstone of Canada’s mining sector. In the past below the possession of Barrick Mining Company, Hemlo transitioned from an perceivable pit operation to an underground operation in October 2020.

About Wheaton Valuable Metals
Wheaton is the sector’s premier treasured metals streaming corporate with the highest-quality portfolio of long-life, low cost belongings. Its trade type trade in traders commodity value leverage and exploration upside however with a miles decrease possibility profile than a conventional mining corporate. Wheaton delivers among the best money running margins within the mining business, permitting it to pay a aggressive dividend and keep growing via accretive acquisitions. Consequently, Wheaton has persistently outperformed gold and silver, in addition to alternative mining investments. Wheaton is dedicated to robust ESG practices and giving again to the communities the place Wheaton and its mining companions perform. Wheaton creates sustainable worth via streaming for all of its stakeholders.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press drop incorporates “forward-looking statements” throughout the which means of america Non-public Securities Litigation Reform Occupation of 1995 and “forward-looking information” throughout the which means of acceptable Canadian securities regulation regarding the trade, operations and monetary efficiency of Wheaton and, in some circumstances, the trade, mining operations and function of Wheaton’s Valuable Metals Acquire Word of honour (“PMPA”) counterparties. Ahead-looking statements, which might be all statements alternative than statements of ancient truth, come with, however aren’t restricted to, statements with recognize to:

• the pace value of commodities;
• the estimation of pace manufacturing from the mineral wave pursuits and mineral royalty pursuits lately owned through the Corporate (the “Mining Operations”) (together with within the estimation of manufacturing, mill throughput, grades, healings and exploration doable);
• the estimation of mineral reserves and mineral sources (together with the estimation of book conversion charges and the conclusion of such estimations);
• the graduation, timing and fulfillment of development, growth or growth tasks through Wheaton’s PMPA counterparties at Mining Operations;
• the fee of in advance money attention to counterparties below PMPAs, the pleasure of each and every occasion’s responsibilities in line with PMPAs and the receipt through the Corporate of treasured metals and cobalt manufacturing or alternative bills in recognize of the acceptable Mining Operations below PMPAs;
• the facility of Wheaton’s PMPA counterparties to conform to the phrases of a PMPA (together with because of the trade, mining operations and function of Wheaton’s PMPA counterparties) and the prospective affects of such on Wheaton;
• pace bills through the Corporate in line with PMPAs, together with any acceleration of bills;
• the prices of pace manufacturing;
• the estimation of produced however no longer but delivered oz;
• the pace gross sales of Regular Stocks below, the quantity of internet proceeds from, and the utility of the web proceeds from, the at-the-market fairness program;
• persisted record of the Regular Stocks at the LSE, NYSE and TSX;
• any statements as to pace dividends;
• the facility to charity remarkable constancy and the facility to proceed to obtain accretive PMPAs;
• projected will increase to Wheaton’s manufacturing and money wave profile;
• projected adjustments to Wheaton’s manufacturing combine;
• the facility of Wheaton’s PMPA counterparties to conform to the phrases of any alternative responsibilities below pledges with the Corporate;
• the facility to promote treasured metals and cobalt manufacturing;
• self assurance within the Corporate’s trade construction;
• the Corporate’s evaluate of taxes payable, together with taxes payable below the World Minimal Tax (“GMT”), and the have an effect on of the CRA Agreement, and the Corporate’s skill to pay its taxes;
• imaginable CRA home audits for taxation years next to 2019 and world audits next to 2017;
• the Corporate’s evaluate of the have an effect on of any tax reassessments;
• the Corporate’s goal to record pace tax returns in a way in keeping with the CRA Agreement;
• the Corporate’s environment exchange and environmental constancy; and
• checks of the have an effect on and determination of numerous criminal and tax issues, together with however no longer restricted to audits.

Typically, those forward-looking statements will also be recognized through the utility of forward-looking terminology comparable to “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “projects”, “intends”, “anticipates” or “does not anticipate”, or “believes”, “potential”, or diversifications of such phrases and words or statements that sure movements, occasions or effects “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Ahead-looking statements are matter to identified and unknown dangers, uncertainties and alternative elements that can motive the untouched effects, stage of process, efficiency or achievements of Wheaton to be materially other from the ones expressed or implied through such forward-looking statements, together with however no longer restricted to:

• dangers related to fluctuations in the cost of commodities (together with Wheaton’s skill to promote its treasured metals or cobalt manufacturing at applicable costs or in any respect);
• dangers indistinguishable to the Mining Operations (together with fluctuations in the cost of the principle or alternative commodities mined at such operations, regulatory, political and alternative dangers of the jurisdictions during which the Mining Operations are situated, untouched result of mining, dangers related to exploration, construction, running, growth and growth on the Mining Operations, environmental and financial dangers of the Mining Operations, and adjustments in undertaking parameters as Mining Operations plans proceed to be subtle);
• a lack of regulate over the Mining Operations and having to depend at the accuracy of the family disclosure and alternative knowledge Wheaton receives from the house owners and operators of the Mining Operations as the root for its analyses, forecasts and checks with regards to its personal trade;
• dangers indistinguishable to the suspicion within the accuracy of mineral book and mineral useful resource estimation;
• dangers indistinguishable to the pleasure of each and every occasion’s responsibilities in line with the phrases of the Corporate’s PMPAs, together with the facility of the corporations with which the Corporate has PMPAs to accomplish their responsibilities below the ones PMPAs within the match of a subject matter antagonistic impact on the result of operations, monetary situation, money flows or trade of such firms, any acceleration of bills, estimated throughput and exploration doable;
• dangers with regards to manufacturing estimates from Mining Operations, together with expected timing of the graduation of manufacturing through sure Mining Operations;
• Wheaton’s interpretation of, or compliance with, or software of, tax regulations and rules or accounting insurance policies and regulations, being discovered to be improper or the tax have an effect on to the Corporate’s trade operations being materially other than lately pondered, , or the facility of the Corporate to pay such taxes as and when due;
• any problem or reassessment through the CRA of the Corporate’s tax filings being a hit and the prospective damaging have an effect on to the Corporate’s earlier and pace tax filings;
• dangers in assessing the have an effect on of the CRA Agreement (together with whether or not there might be any subject matter exchange within the Corporate’s details or exchange in legislation or jurisprudence);
• dangers indistinguishable to any doable amendments to Canada’s switch pricing regulations below the Source of revenue Tax Occupation (Canada) that can end result from the Section of Finance’s session paper absolved June 6, 2023;
• dangers with regards to Wheaton’s interpretation of, compliance with, or software of the GMT, together with Canada’s World Minimal Tax Occupation (“GMTA”) and the regulation enacted in Luxembourg, that applies to the source of revenue of the Corporate’s subsidiaries for fiscal years starting on or next December 31, 2023;
• counterparty credit score and liquidity dangers;
• mine operator and counterparty focus dangers;
• indebtedness and promises dangers;
• hedging possibility;
• festival within the streaming business possibility;
• dangers with regards to safety over underlying belongings;
• dangers with regards to third-party PMPAs;
• dangers with regards to income from royalty pursuits;
• dangers indistinguishable to Wheaton’s acquisition technique;
• dangers with regards to third-party rights below PMPAs;
• dangers with regards to pace financings and safety issuances;
• dangers with regards to unknown defects and impairments;
• dangers indistinguishable to governmental rules;
• dangers indistinguishable to world operations of Wheaton and the Mining Operations;
• dangers with regards to exploration, construction, running, expansions and enhancements on the Mining Operations;
• dangers indistinguishable to environmental rules;
• the facility of Wheaton and the Mining Operations to acquire and preserve essential licenses, allows, approvals and rulings;
• the facility of Wheaton and the Mining Operations to conform to acceptable regulations, rules and allowing necessities;
• dearth of appropriate provides, infrastructure and staff to help the Mining Operations;
• dangers indistinguishable to underinsured Mining Operations;
• incapacity to exchange and amplify mineral reserves, together with expected timing of the graduation of manufacturing through sure Mining Operations (together with will increase in manufacturing, estimated grades and healings);
• uncertainties indistinguishable to identify and indigenous rights with recognize to the mineral houses of the Mining Operations;
• the facility of Wheaton and the Mining Operations to acquire ample financing;
• the facility of the Mining Operations to finish allowing, development, construction and growth;
• demanding situations indistinguishable to international monetary statuses;
• dangers related to environmental, social and governance issues;
• dangers indistinguishable to fluctuations in commodity costs of metals created from the Mining Operations alternative than treasured metals or cobalt;
• dangers indistinguishable to claims and criminal court cases towards Wheaton or the Mining Operations;
• dangers indistinguishable to the marketplace value of the Regular Stocks of Wheaton;
• the facility of Wheaton and the Mining Operations to hold key control staff or procure the services and products of professional and skilled workforce;
• dangers indistinguishable to rates of interest;
• dangers indistinguishable to the declaration, timing and fee of dividends;
• dangers indistinguishable to get entry to to undercover knowledge referring to Mining Operations;
• dangers related to more than one listings of the Regular Stocks at the LSE, NYSE and TSX;
• dangers related to a imaginable postponed of buying and selling of Regular Stocks;
• fairness value dangers indistinguishable to Wheaton’s maintaining of lengthy‑time period investments in alternative firms;
• dangers with regards to activist shareholders;
• dangers with regards to reputational injury;
• dangers with regards to voice of perspectives through business analysts;
• dangers indistinguishable to the affects of environment exchange and the transition to a low-carbon economic system;
• dangers related being able to succeed in environment exchange and environmental constancy at Wheaton and on the Mining Operations;
• dangers indistinguishable to making sure the safety and security of knowledge techniques, together with cyber safety dangers;
• dangers with regards to generative synthetic knowledge;
• dangers with regards to compliance with anti-corruption and anti-bribery regulations;
• dangers with regards to company governance and family disclosure compliance;
• dangers of important affects on Wheaton or the Mining Operations because of a virulent disease or pandemic;
• dangers indistinguishable to the adequacy of inside regulate over monetary reporting; and
• alternative dangers mentioned within the category entitled “Description of the Business – Risk Factors” in Wheaton’s Annual Data Method to be had on SEDAR+ at www.sedarplus.ca and Wheaton’s Method 40-F for the 12 months ended December 31, 2024 on record with the U.S. Securities and Trade Fee on EDGAR (the “Disclosure”).

Ahead-looking statements are in line with suppositions control lately believes to be cheap, together with (with out limitation):

• that there might be deny subject matter antagonistic exchange out there value of commodities;
• that the Mining Operations will proceed to perform and the mining tasks might be finished in line with family statements and succeed in their said manufacturing estimates;
• that the mineral reserves and mineral useful resource estimates from Mining Operations (together with book conversion charges) are correct;
• that family disclosure and alternative knowledge Wheaton receives from the house owners and operators of the Mining Operations is correct and whole;
• that the manufacturing estimates from Mining Operations are correct;
• that each and every occasion will fulfill their responsibilities in line with the PMPAs;
• that Wheaton will proceed so as to charity or download investment for remarkable constancy;
• that Wheaton will have the ability to supply and procure accretive PMPAs;
• that the phrases and statuses of a PMPA are enough to get well liabilities owed to the Corporate;
• that Wheaton has absolutely thought to be the worth and have an effect on of any third-party pursuits in PMPAs;
• that expectancies in regards to the solution of criminal and tax issues might be accomplished (together with CRA audits involving the Corporate);
• that Wheaton has correctly thought to be the applying of Canadian tax regulations to its construction and operations and that Wheaton will have the ability to pay taxes when due;
• that Wheaton has filed its tax returns and paid acceptable taxes in compliance with Canadian tax regulations;
• that Wheaton’s software of the CRA Agreement is correct (together with the Corporate’s evaluate that there was deny subject matter exchange within the Corporate’s details or exchange in legislation or jurisprudence);
• that Wheaton’s evaluate of the tax publicity and have an effect on at the Corporate and its subsidiaries of the implementation of a fifteen% international minimal tax is correct;
• that the buying and selling of the Regular Stocks may not be adversely suffering from the diversities in liquidity, agreement and clearing techniques because of more than one listings of the Regular Stocks at the LSE, the TSX and the NYSE;
• that the buying and selling of the Corporate’s Regular Stocks may not be suspended;
• the estimate of the recoverable quantity for any PMPA with a trademark of impairment;
• that neither Wheaton nor the Mining Operations will endure important affects because of a virulent disease or pandemic; and
• such alternative suppositions and elements as put forth within the Disclosure.

There will also be deny guarantee that forward-looking statements will turn out to be correct and although occasions or effects described within the forward-looking statements are learned or considerably learned, there will also be deny guarantee that they are going to have the anticipated aftereffects to, or results on, Wheaton. Readers must no longer park undue reliance on forward-looking statements and are cautioned that untouched results might range. The forward-looking statements incorporated herein are to bring about offering readers with knowledge to help them in figuring out Wheaton’s anticipated monetary and operational efficiency and might not be suitable for alternative functions. Any forward-looking commentary speaks most effective as of the era on which it’s made, displays Wheaton’s control’s stream ideals in line with stream knowledge and may not be up to date apart from in line with acceptable securities regulations. Despite the fact that Wheaton has tried to spot noteceable elements that would motive untouched effects, stage of process, efficiency or achievements to fluctuate materially from the ones contained in ahead‑browsing statements, there is also alternative elements that motive effects, stage of process, efficiency or achievements to not be as expected, estimated or supposed.

Cautionary Language Referring to Reserves and Sources

For additional knowledge on Mineral Reserves and Mineral Sources and on Wheaton extra typically, readers must please see Wheaton’s Annual Data Method for the 12 months ended December 31, 2024, which used to be filed on March 31, 2025 and alternative steady disclosure paperwork filed through Wheaton since January 1, 2025, to be had on SEDAR+ at www.sedarplus.ca. Wheaton’s Mineral Reserves and Mineral Sources are matter to the {qualifications} and notes poised forth therein. Mineral Sources, which aren’t Mineral Reserves, should not have demonstrated financial viability.

Cautionary Notice to United States Buyers Relating to Estimates of Steady, Indicated and Inferred Sources: The tips contained herein has been ready in line with the necessities of the securities regulations in impact in Canada, which fluctuate from the necessities of United States securities regulations. The Corporate experiences knowledge referring to mineral houses, mineralization and estimates of mineral reserves and mineral sources in line with Canadian reporting necessities which might be ruled through, and make the most of definitions required through,  Canadian Nationwide Device 43-101 – Requirements of Disclosure for Mineral Tasks (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition Requirements on Mineral Sources and Mineral Reserves, followed through the CIM Council, as amended (the “CIM Standards”). Those definitions fluctuate from the definitions followed through america Securities and Trade Fee (“SEC”) below america Securities Occupation of 1933, as amended (the “Securities Act”) which might be acceptable to U.S. firms. Accordingly, there’s no guarantee any mineral reserves or mineral sources that the Corporate might file as “proven mineral reserves”, “probable mineral reserves”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” below NI 43-101 will be the similar had the Corporate ready the book or useful resource estimates below the criteria followed through the SEC. Accordingly, knowledge contained herein that describes Wheaton’s mineral deposits might not be similar to matching knowledge made family through U.S. firms matter to reporting and disclosure necessities below america federal securities regulations and the foundations and rules thereunder. United States traders are prompt to believe carefully the disclosure in Wheaton’s Method 40-F, a booklet of that could be received from Wheaton or from https://www.sec.gov/edgar.shtml.

SOURCE Wheaton Valuable Metals Corp.