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Wheaton Precious Metals Announces Closing of
Silver Stream with BHP on Antamina
VANCOUVER, BC, April 1, 2026 /CNW/ - Wheaton Precious
Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that its wholly-owned subsidiary,
Wheaton Precious Metals International Ltd. ("WPMI") has completed the previously announced silver stream transaction under its
Precious Metals Purchase Agreement with a wholly-owned subsidiary of BHP Group Limited ("BHP"), in respect of the Antamina Mine
in Peru ("BHP Antamina PMPA").
Under the BHP Antamina PMPA, from the effective date
of April 1, 2026, WPMI will purchase the equivalent of BHP's 33.75% of the payable silver from the Antamina mine until a total of 100
million ounces has been delivered, at which point WPMI will purchase the equivalent of 22.5% of the payable silver for the life of mine.
Payable silver will be calculated using a fixed payable factor of 90.0%. In exchange, WPMI has made the upfront payment of US$4.3 billion
and will make ongoing payments for the silver ounces delivered equal to 20% of the spot price of silver.
Full details of the transaction can be found in Wheaton's
news release titled "Wheaton Precious Metals Announces Acquisition of Additional Silver Stream on Antamina Through New Partnership
with BHP" dated February 16, 2026.
About Wheaton Precious Metals Corp.
Wheaton Precious Metals 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 leverage to commodity prices 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. 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.
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:
| • | the satisfaction of each party's obligations in accordance with the BHP Antamina
PMPA; |
| • | the receipt by the Company of silver production in respect of the Antamina
mine under the BHP Antamina PMPA; |
| • | the future price of commodities; |
| • | 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 precious metal purchase agreement ("PMPA") counterparties at Mining Operations or other payments under
royalty arrangements; |
| • | 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; |
| • | 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, and the Company's ability to pay
its taxes; |
| • | possible CRA domestic and international audits; |
| • | the Company's assessment of the impact of any tax reassessments; |
| • | 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 BHP Antamina PMPA; |
| • | risks relating to the Company's ability to meet the conditions of, and the
satisfaction of each party's obligations under, the existing RCF and the new Term Loan; |
| • | risks relating to the generation of sufficient cash flow to repay the existing
RCF and the new Term Loan; |
| • | risks associated with fluctuations in the price of commodities (including
Wheaton's ability to sell its precious metals or cobalt production at acceptable prices or at all); |
| • | risks related to the Mining Operations (including fluctuations in the price
of the primary or other commodities mined at such operations, regulatory, political and other risks of the jurisdictions in which the
Mining Operations are located, actual results of mining, risks associated with exploration, development, operating, expansions and improvement
at the Mining Operations, environmental and economic risks of the Mining Operations, and changes in project parameters as Mining Operations
plans continue to be refined); |
| • | absence of control over the Mining Operations and having to rely on the accuracy
of the public disclosure and other information Wheaton receives from the owners and operators of the Mining Operations as the basis for
its analyses, forecasts and assessments relating to its own business; |
| • | risks related to the uncertainty in the accuracy of mineral reserve and mineral
resource estimation; |
| • | risks related to the satisfaction of each party's obligations in accordance
with the terms of the Company's PMPAs, including the ability of the companies with which the Company has PMPAs to perform their obligations
under those PMPAs in the event of a material adverse effect on the results of operations, financial condition, cash flows or business
of such companies, any acceleration of payments, estimated throughput and exploration potential; |
| • | risks relating to production estimates from Mining Operations, including anticipated
timing of the commencement of production by certain Mining Operations; |
| • | Wheaton's interpretation of, or compliance with, or application of, tax laws
and regulations or accounting policies and rules, being found to be incorrect or the tax impact to the Company's business operations
being materially different than currently contemplated, or the ability to pay such taxes as and when due; |
| • | any challenge or reassessment by the CRA of the Company's tax filings being
successful and the potential negative impact to the Company's previous and future tax filings; |
| • | risks in assessing the impact of the CRA Settlement; |
| • | risks related to any changes to the Income Tax Act (Canada) that may result
in a material change to the amount of future taxes payable; |
| • | counterparty credit and liquidity risks; |
| • | mine operator and counterparty concentration risks; |
| • | indebtedness and guarantees risks; |
| • | competition in the streaming industry risk; |
| • | risks relating to security over underlying assets; |
| • | risks relating to third-party PMPAs; |
| • | risks relating to revenue from royalty interests; |
| • | risks related to Wheaton's acquisition strategy; |
| • | risks relating to third-party rights under PMPAs; |
| • | risks relating to future financings and security issuances; |
| • | risks relating to unknown defects and impairments; |
| • | risks related to governmental regulations; |
| • | risks related to international operations of Wheaton and the Mining Operations; |
| • | risks relating to exploration, development, operating, expansions and improvements
at the Mining Operations; |
| • | risks related to environmental regulations; |
| • | the ability of Wheaton and the Mining Operations to obtain and maintain necessary
licenses, permits, approvals and rulings; |
| • | the ability of Wheaton and the Mining Operations to comply with applicable
laws, regulations and permitting requirements; |
| • | lack of suitable supplies, infrastructure and employees to support the Mining
Operations; |
| • | risks related to underinsured Mining Operations; |
| • | inability to replace and expand mineral reserves, including anticipated timing
of the commencement of production by certain Mining Operations (including increases in production, estimated grades and recoveries); |
| • | uncertainties related to title and indigenous rights with respect to the mineral
properties of the Mining Operations; |
| • | the ability of Wheaton and the Mining Operations to obtain adequate financing; |
| • | the ability of the Mining Operations to complete permitting, construction,
development and expansion; |
| • | challenges related to global financial conditions; |
| • | risks associated with sustainability-related matters; |
| • | risks related to fluctuations in commodity prices of metals produced from
the Mining Operations other than precious metals or cobalt; |
| • | risks related to claims and legal proceedings against Wheaton or the Mining
Operations; |
| • | risks related to the market price of the Common Shares of Wheaton; |
| • | the ability of Wheaton and the Mining Operations to retain key management
employees or procure the services of skilled and experienced personnel; |
| • | risks related to interest rates; |
| • | risks related to the declaration, timing and payment of dividends; |
| • | risks related to access to confidential information regarding Mining Operations; |
| • | risks associated with multiple listings of the Common Shares on the LSE, NYSE
and TSX; |
| • | risks associated with a possible suspension of trading of Common Shares; |
| • | equity price risks related to Wheaton's holding of long-term investments in
other companies; |
| • | risks relating to activist shareholders; |
| • | risks relating to reputational damage; |
| • | risks relating to expression of views by industry analysts; |
| • | risks related to the impacts of climate change and the transition to a low-carbon
economy; |
| • | risks associated with the ability to achieve climate change and environmental
commitments at Wheaton and at the Mining Operations; |
| • | risks related to ensuring the security and safety of information systems,
including cyber security risks; |
| • | risks relating to artificial intelligence; |
| • | risks relating to compliance with anti-corruption and anti-bribery laws; |
| • | risks relating to corporate governance and public disclosure compliance; |
| • | risks of significant impacts on Wheaton or the Mining Operations as a result
of an epidemic or pandemic; |
| • | risks related to the adequacy of internal control over financial reporting;
and |
| • | other risks discussed in the section entitled "Description of the Business
- Risk Factors" in Wheaton's Annual Information Form available on SEDAR+ at www.sedarplus.ca and Wheaton's Form 40-F for the year
ended December 31, 2025 on file with the U.S. Securities and Exchange Commission on EDGAR (the "Disclosure"). |
Forward-looking statements are based on assumptions
management currently believes to be reasonable, including but not limited to:
| • | that each party's obligations in accordance with the terms of the BHP Antamina
PMPA will be satisfied; |
| • | that the Company will be able to repay the existing RCF and new Term Loan; |
| • | that there will be no material adverse change in the market price of commodities; |
| • | that the Mining Operations will continue to operate and the mining projects
will be completed in accordance with public statements and achieve their stated production estimates; |
| • | that the mineral reserves and mineral resource estimates from Mining Operations
(including reserve conversion rates) are accurate; |
| • | that public disclosure and other information Wheaton receives from the owners
and operators of the Mining Operations is accurate and complete; |
| • | that the production estimates from Mining Operations are accurate; |
| • | that each party will satisfy their obligations in accordance with the PMPAs; |
| • | that Wheaton will continue to be able to fund or obtain funding for outstanding
commitments; |
| • | that Wheaton will be able to source and obtain accretive PMPAs; |
| • | that the terms and conditions of a PMPA are sufficient to recover liabilities
owed to the Company; |
| • | that Wheaton has fully considered the value and impact of any third-party
interests in PMPAs; |
| • | that expectations regarding the resolution of legal and tax matters will be
achieved (including CRA audits involving the Company); |
| • | that Wheaton has properly considered the application of Canadian tax laws
to its structure and operations and that Wheaton will be able to pay taxes when due; |
| • | that Wheaton has filed its tax returns and paid applicable taxes in compliance
with applicable tax laws; |
| • | that the trading of the Common Shares will not be adversely affected by the
differences in liquidity, settlement and clearing systems as a result of multiple listings of the Common Shares on the LSE, the TSX and
the NYSE; |
| • | that the trading of the Company's Common Shares will not be suspended; |
| • | the estimate of the recoverable amount for any PMPA with an indicator of impairment; |
| • | that neither Wheaton nor the Mining Operations will suffer significant impacts
as a result of an epidemic or pandemic; and |
| • | such other assumptions and factors as set out in the Disclosure. |
Although Wheaton has attempted to identify important
factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking
statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated
or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described
in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences
to, or effects on, Wheaton. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that
actual outcomes may vary. The forward-looking statements included herein are for the purpose of providing readers with information to
assist them in understanding Wheaton's expected financial and operational performance and may not be appropriate for other purposes. Any
forward-looking statement speaks only as of the date on which it is made, reflects Wheaton's management's current beliefs based on current
information and will not be updated except in accordance with applicable securities laws.
View original content:https://www.prnewswire.com/news-releases/wheaton-precious-metals-announces-closing-of-silver-stream-with-bhp-on-antamina-302732063.html
SOURCE Wheaton Precious Metals Corp.
View original content: http://www.newswire.ca/en/releases/archive/April2026/01/c9851.html
%CIK: 0001323404
For further information: For further information, please contact: Emma
Murray, Vice President, Investor Relations, Wheaton Precious Metals Corp., Tel: 1-844-288-9878, Email: info@wheatonpm.com
CO: Wheaton Precious Metals Corp.
CNW 18:02e 01-APR-26