Exhibit 99.1

Vancouver, British Columbia – Silver Wheaton Corp. (“Silver Wheaton” or the “Company”) (TSX, NYSE:SLW) is pleased to announce its unaudited results for the third quarter ended September 30, 2010.

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Barrick Gold Corp.’s world-class gold-silver Pascua-Lama project remains on track to enter production in the first quarter of 2013, with detailed engineering and procurement nearing completion and earthworks underway. Once in production, Pascua-Lama is forecast to be one of the largest and lowest cost gold mines in the world with an expected mine life in excess of 25 years. In its first five years of operation, Silver Wheaton’s attributable silver production is expected to average 9 million ounces annually.
Goldcorp completed the sale of the San Dimas mine to Primero Mining Corp. In conjunction with the sale, Silver Wheaton amended its silver purchase agreement relating to the mine. The term of the silver purchase agreement, which was set to expire in 2029, has been extended to life of mine. During the first four years following closing of the transaction, Primero will deliver to Silver Wheaton a per annum amount equal to the first 3.5 million ounces of payable silver produced at San Dimas and 50% of any excess, plus Silver Wheaton will receive an additional 1.5 million ounces of silver per annum to be delivered by Goldcorp. Beginning in the fifth year after closing, Primero will deliver to the Company a per annum amount equal to the first 6 million ounces of payable silver produced at San Dimas and 50% of any excess.
Goldcorp will continue to guarantee the delivery by Primero of all silver produced and owing to the Company until 2029, and a payment of US$0.50 per ounce for any shortfall below 215 million cumulative silver ounces delivered to Silver Wheaton by the end of 2031. Primero has provided Silver Wheaton with a right of first refusal on any metal stream or similar transaction it enters into.

“Silver Wheaton had record production in the quarter, anchored by the continued successful ramp up of one of our cornerstone growth assets, Goldcorp’s world-class Peñasquito mine in Mexico,” said Peter Barnes, Chief Executive Officer of Silver Wheaton. “Peñasquito reached commercial production during the quarter and expects to achieve full production capacity in early 2011, in what promises to be another year of significant production growth for Silver Wheaton.”

“While quarterly sales were lower than production, due in part to the build-up of concentrate inventory as Peñasquito ramps up production, as well as the timing of shipments from the Yauliyacu and Campo Morado mines, we still achieved record earnings. Increased shipments in the fourth quarter are expected to make up for the sales shortfall and we remain on track to meet production guidance of 23.5 million silver equivalent ounces in 2010, growing to approximately 40 million ounces by 2013.”

“In an environment of continued economic uncertainty, investment demand for silver remains very strong, and silver prices approached 30 year highs in the quarter. This resulted in record cash operating margins of US$15.72 per ounce, generating strong free cash flows to fund future growth.”

“Lastly, during the quarter, Goldcorp finalized the sale of its San Dimas mine to Primero Mining, an emerging mid-tier gold producer. In conjunction with this, Silver Wheaton amended its silver purchase agreement, which continues to provide Silver Wheaton with a Goldcorp guarantee, extends the agreement from a fixed term to life-of-mine and, most importantly, incentivizes Primero Mining to increase silver production at this high-quality, low-cost, mine. San Dimas remains a key asset within our portfolio and we are confident that the amended silver purchase agreement will create additional long term value for our stakeholders.”

This earnings release should be read in conjunction with Silver Wheaton’s unaudited MD&A and Financial Statements, which are available on the Company’s website at www.silverwheaton.com and have been posted on SEDAR at www.sedar.com.

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A conference call will be held Tuesday, November 9, 2010, starting at 11:00 am (Eastern Time) to discuss these results. To participate in the live call use one of the following methods:


Dial toll free from Canada or the US:	1- 888-231-8191
Dial from outside Canada or the US:	1-647-427-7450
Pass code:	15809030
Live audio webcast:	www.silverwheaton.com

Participants should dial in five to ten minutes before the call.

The conference call will be recorded and you can listen to an archive of the call by one of the following methods:


Dial toll free from Canada or the US:	1- 800-642-1687
Dial from outside Canada or the US:	1-416-849-0833
Pass code:	15809030
Archived audio webcast:	www.silverwheaton.com

About Silver Wheaton

Silver Wheaton is the largest silver streaming company in the world. Forecast 2010 production, based upon its current agreements, is 22.0 million ounces of silver and 28,000 ounces of gold, for total production of 23.5 million silver equivalent ounces. By 2013, annual production is anticipated to increase significantly to approximately 40 million silver equivalent ounces. This growth is driven by the Company’s portfolio of world-class assets, including silver streams on Goldcorp’s Peñasquito mine and Barrick’s Pascua-Lama project.

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 future price of silver and gold, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, reserve determination and reserve conversion rates. 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”, “intends”, “anticipates” or “does not anticipate”, or “believes”, 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 Silver Wheaton to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: fluctuations in the price of silver and gold; the absence of control over mining operations from which Silver Wheaton purchases silver or gold and risks related to these mining operations including risks related to fluctuations in the price of the primary commodities mined at such operations, actual results of mining and exploration activities, economic and political risks of the jurisdictions in which the mining operations are located and changes in project parameters as plans continue to be refined; and differences in the interpretation or application of tax laws and regulations; as well as those factors discussed in the section entitled “Description of the Business - Risk Factors” in Silver Wheaton's Annual Information Form available on SEDAR at www.sedar.com and in Silver Wheaton's Form 40-F on file with the U.S. Securities and Exchange Commission in Washington, D.C. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the mining operations from which Silver Wheaton purchases silver or gold, no material adverse change in the market price of commodities, that the mining operations will operate and the mining projects will be completed in accordance with their public statements and achieve their stated production outcomes, and such other

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Consolidated Statement of Operations (unaudited)

	Three Months Ended September 30				Nine Months Ended September 30
(US dollars and shares in thousands, except per share amounts - unaudited)	2010		2009		2010		2009
Sales	$	92,834	$	69,767	$	273,776	$	148,742

Cost of sales		19,154		18,765		60,022		43,069
Depletion		12,505		13,164		41,416		26,170
		31,659		31,929		101,438		69,239
Earnings from operations		61,175		37,838		172,338		79,503

Expenses and other income
General and administrative ¹		4,947		3,906		18,260		12,917
Gain on mark-to-market of warrants held		(7,861)		-		(8,094)		(33)
Other		(360)		366		(164)		(496)
		(3,274)		4,272		10,002		12,388

Earnings before tax		64,449		33,566		162,336		67,115
Future income tax recovery		4,785		-		4,785		-
Net earnings	$	69,234	$	33,566	$	167,121	$	67,115
				0.11				0.23
Basic earnings per share	$	0.20	$	0.11	$	0.49	$	0.23
Diluted earnings per share	$	0.20	$	0.11	$	0.48	$	0.23
Weighted average number of shares outstanding
Basic		344,253		313,445		343,168		294,208
Diluted		350,361		317,431		348,469		297,936

1) Stock based compensation (a non-cash item) included in general and administrative	$	1,306	$	623	$	6,431	$	3,312

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Consolidated Balance Sheets (unaudited)

		September 30		December 31
(US dollars in thousands - unaudited)		2010		2009

Assets
Current
	Cash and cash equivalents	$	255,189	$	227,566
	Accounts receivable		7,798		4,881
	Other		924		1,027
			263,911		233,474

Long-term investments			155,122		73,747
Silver and gold interests			1,943,224		1,928,476
Other			1,368		1,527
		$	2,363,625	$	2,237,224

Liabilities
Current
	Accounts payable	$	1,398	$	5,397
	Accrued liabilities		4,606		4,578
	Current portion of bank debt		28,560		28,560
	Current portion of silver interest payments		145,317		130,788
			179,881		169,323

Long-term portion of bank debt			85,760		107,180
Long-term portion of silver interest payments			120,323		236,796
			385,964		513,299
Shareholders' Equity
Issued capital and contributed surplus			1,372,525		1,333,191
Retained earnings			510,955		343,834
Accumulated other comprehensive income			94,181		46,900
			605,136		390,734
			1,977,661		1,723,925
		$	2,363,625	$	2,237,224

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Consolidated Statement of Cash Flows (unaudited)

	Three Months Ended September 30				Nine Months Ended September 30
(US dollars in thousands - unaudited)	2010		2009		2010		2009

Operating Activities
Net earnings	$	69,234	$	33,566	$	167,121	$	67,115
Items not affecting cash
Depreciation and depletion		12,573		13,229		41,615		26,359
Stock based compensation		1,306		623		6,431		3,312
Gain on mark-to-market of warrants held		(7,861)		-		(8,094)		(33)
Future income tax recovery		(4,785)		-		(4,785)		-
Other		(1,251)		(338)		(879)		(148)
Change in non-cash operating working capital		1,269		(1,700)		(6,334)		(1,652)
Cash generated by operating activities		70,485		45,380		195,075		94,953

Financing Activities
Bank debt drawn down		-		140,200		-		140,200
Bank debt repaid		(7,140)		(7,140)		(21,420)		(234,920)
Shares issued		-		287,531		-		517,955
Share issue costs		-		(11,645)		(85)		(21,620)
Share purchase warrants exercised		5,017		10,345		6,022		10,508
Share purchase options exercised		8,579		4,200		26,881		5,789
Cash generated by financing activities		6,456		423,491		11,398		417,912

Investing Activities
Silver and gold interests		(144,465)		(213,819)		(158,176)		(218,466)
Acquisition of Silverstone Resources Corp., net of cash acquired		-		(261)		(201)		2,407
Long-term investments		(644)		-		(21,533)		-
Other		(10)		1,599		396		1,615
Cash applied to investing activities		(145,119)		(212,481)		(179,514)		(214,444)
Effect of exchange rate changes on cash and cash equivalents		471		(122)		664		(673)
(Decrease) increase in cash and cash equivalents		(67,707)		256,268		27,623		297,748
Cash and cash equivalents, beginning of period		322,896		48,590		227,566		7,110
Cash and cash equivalents, end of period	$	255,189	$	304,858	$	255,189	$	304,858

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Results of Operations (unaudited)

								Three Months Ended September 30, 2010
	Ounces produced ³	Ounces sold	Sales		Average realized price ($'s per ounce)		Total cash cost ($'s per ounce)⁴		Total depletion ($'s per ounce) ⁴		Net earnings (loss)		Cash flow from (used in) operations

Silver
San Dimas	1,255	1,274	$	25,613	$	20.11	$	4.04	$	0.78	$	19,471	$	20,468
Zinkgruvan	508	635		12,680		19.95		4.04		1.72		9,021		9,522
Yauliyacu	633	87		1,548		17.79		3.98		3.47		900		1,202
Peñasquito	1,017	692		12,980		18.76		3.90		2.54		8,521		10,281
Minto	46	40		912		22.92		3.90		3.69		610		567
Cozamin	381	306		5,825		19.06		4.04		4.62		3,177		4,868
Barrick ⁵	682	533		10,202		19.16		3.90		3.58		6,218		8,281
Other ⁶	1,023	710		13,649		19.22		3.93		4.51		7,658		10,518
	5,545	4,277	$	83,409	$	19.51	$	3.98	$	2.53	$	55,576	$	65,707
Gold
Minto	6,961	7,127	$	9,425	$	1,323	$	300	$	237	$	5,599	$	5,972
Silver Equivalent ⁷	5,947	4,688	$	92,834	$	19.81	$	4.09	$	2.67	$	61,175	$	71,679
Corporate												8,059		(1,194	)
	5,947	4,688	$	92,834	$	19.81	$	4.09	$	2.67	$	69,234	$	70,485

1)	All figures in thousands except gold ounces produced and sold and per ounce amounts.
2)	Ounces produced represent the quantity of silver and gold contained in concentrate or doré prior to smelting or refining deductions.
3)	Certain production figures are based on management estimates.
4)	Refer to discussion on non-GAAP measures.
5)	The ounces produced and sold during the third quarter of 2010 include 250,000 ounces received from Goldcorp, in connection with Goldcorp’s four year commitment to deliver to Silver Wheaton 1.5 million ounces of silver per annum resulting from their sale of San Dimas to Primero.
6)	Comprised of the Lagunas Norte, Pierina and Veladero mines.
7)	Comprised of the Los Filos, San Martin, La Negra, Mineral Park, Neves-Corvo, Stratoni and Campo Morado mines.
8)	Gold ounces produced and sold are converted to a silver equivalent basis on the ratio of the average silver price received to the average gold price received during the period.

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								Three Months Ended September 30, 2009
	Ounces produced	Ounces sold	Sales		Average realized price ($'s per ounce)		Total cash cost ($'s per ounce) ³		Total depletion ($'s per ounce) ³		Net earnings (loss)		Cash flow from (used in) operations

Silver
San Dimas	1,232	1,234	$	18,886	$	15.30	$	4.02	$	0.65	$	13,120	$	13,925
Zinkgruvan	415	433		6,861		15.85		4.02		1.78		4,350		4,415
Yauliyacu	750	698		10,600		15.19		3.94		3.47		5,426		7,849
Peñasquito	165	190		2,691		14.15		3.90		2.36		1,502		1,950
Minto	46	68		1,043		15.29		3.90		4.48		472		794
Cozamin	366	384		5,736		14.94		4.00		4.72		2,389		4,229
Barrick ⁴	223	187		3,008		16.07		3.90		3.46		1,631		2,278
Other ⁵	783	780		11,369		14.56		3.91		3.95		5,224		7,398
	3,980	3,974	$	60,194	$	15.14	$	3.97	$	2.59	$	34,114	$	42,838
Gold
Minto	3,698	9,953	$	9,573	$	962	$	300	$	288	$	3,724	$	5,330
Silver Equivalent ⁶	4,213	4,600	$	69,767	$	15.16	$	4.08	$	2.86	$	37,838	$	48,168
Corporate												(4,272)		(2,788)
	4,213	4,600	$	69,767	$	15.16	$	4.08	$	2.86	$	33,566	$	45,380


1)	All figures in thousands except gold ounces produced and sold and per ounce amounts.
2)	Ounces produced represent the quantity of silver and gold contained in concentrate or doré prior to smelting or refining deductions.
3)	Refer to discussion on non-GAAP measures.
4)	Comprised of the Lagunas Norte, Pierina and Veladero mines.
5)	Comprised of the Los Filos, San Martin, La Negra, Mineral Park, Neves-Corvo, Stratoni and Campo Morado mines.
6)	Gold ounces produced and sold are converted to a silver equivalent basis on the ratio of the average silver price received to the average gold price received during the period.

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									Nine Months Ended September 30, 2010
	Ounces produced ³	Ounces sold	Sales		Average realized price ($'s per ounce)		Total cash cost ($'s per ounce)⁴		Total depletion ($'s per ounce) ⁴		Net earnings (loss)		Cash flow from (used in) operations

Silver
San Dimas	3,571	3,556	$	66,463	$	18.69	$	4.04	$	0.78	$	49,308	$	52,099
Zinkgruvan	1,373	1,446		26,964		18.64		4.04		1.72		18,635		19,578
Yauliyacu	2,062	1,185		21,372		18.04		3.98		3.47		12,545		16,662
Peñasquito	2,337	1,772		32,466		18.32		3.90		2.54		21,050		25,556
Minto	157	133		2,562		19.19		3.90		3.69		1,549		1,795
Cozamin	1,068	999		18,226		18.26		4.03		4.62		9,590		14,524
Barrick ⁵	2,159	2,043		36,942		18.08		3.90		3.54		21,749		25,896
Other ⁶	3,099	2,214		40,635		18.35		3.92		4.38		22,254		31,935
	15,826	13,348	$	245,630	$	18.40	$	3.97	$	2.69	$	156,680	$	188,045
Gold
Minto	24,665	23,321	$	28,146	$	1,207	$	300	$	235	$	15,658	$	19,357
Silver Equivalent ⁷	17,395	14,826	$	273,776	$	18.47	$	4.05	$	2.79	$	172,338	$	207,402
Corporate												(5,217)		(12,327)
	17,395	14,826	$	273,776	$	18.47	$	4.05	$	2.79	$	167,121	$	195,075

1)	All figures in thousands except gold ounces produced and sold and per ounce amounts.
2)	Ounces produced represent the quantity of silver and gold contained in concentrate or doré prior to smelting or refining deductions.
3)	Certain production figures are based on management estimates.
4)	Refer to discussion on non-GAAP measures.
5)	Comprised of the Lagunas Norte, Pierina and Veladero mines.
6)	Comprised of the Los Filos, San Martin, La Negra, Mineral Park, Neves-Corvo, Stratoni and Campo Morado mines.
7)	Gold ounces produced and sold are converted to a silver equivalent basis on the ratio of the average silver price received to the average gold price received during the period.

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								Nine Months Ended September 30, 2009
	Ounces produced	Ounces sold	Sales		Average realized price ($'s per ounce)		Total cash cost ($'s per ounce) ³		Total depletion ($'s per ounce) ³		Net earnings (loss)		Cash flow from (used in) operations

Silver
San Dimas	3,819	3,840	$	52,990	$	13.81	$	4.02	$	0.71	$	34,817	$	37,553
Zinkgruvan	1,356	1,353		19,023		14.06		4.02		1.78		11,175		12,793
Yauliyacu	2,359	1,987		26,881		13.53		3.93		3.47		12,184		19,082
Peñasquito	487	455		6,106		13.42		3.90		2.35		3,260		4,331
Minto	83	67		1,036		15.31		3.90		4.48		469		808
Cozamin	628	597		8,671		14.53		4.00		4.70		3,479		7,617
Barrick ⁴	223	187		3,008		16.07		3.90		3.46		1,631		2,278
Other ⁵	2,092	1,584		21,319		13.44		3.91		4.03		8,715		14,883
	11,047	10,070	$	139,034	$	13.80	$	3.97	$	2.31	$	75,730	$	99,345
Gold
Minto	10,521	10,098	$	9,708	$	961	$	300	$	288	$	3,773	$	5,522
Silver Equivalent ⁶	11,708	10,708	$	148,742	$	13.89	$	4.02	$	2.44	$	79,503	$	104,867
Corporate												(12,388)		(9,914)
	11,708	10,708	$	148,742	$	13.89	$	4.02	$	2.44	$	67,115	$	94,953

1)	All figures in thousands except gold ounces produced and sold and per ounce amounts.
2)	Ounces produced represent the quantity of silver and gold contained in concentrate or doré prior to smelting or refining deductions.
3)	Refer to discussion on non-GAAP measures.
4)	Comprised of the Lagunas Norte, Pierina and Veladero mines.
5)	Comprised of the Los Filos, San Martin, La Negra, Mineral Park, Neves-Corvo, Stratoni and Campo Morado mines.
6)	Gold ounces produced and sold are converted to a silver equivalent basis on the ratio of the average silver price received to the average gold price received during the period.


FOR IMMEDIATE RELEASE	TSX:SLW
Nov 8, 2010	NYSE:SLW


For further information, please contact:

Brad Kopp
Vice President, Investor Relations
Silver Wheaton Corp.
Tel: 1-800-380-8687
Email: info@silverwheaton.com
Website: www.silverwheaton.com



¹Refer to discussion on non-GAAP measures at the end of this press release.