Wheaton Precious Metals Corp. Announces Acquisition of Gold and Silver Stream on Jervois Project

Wheaton Precious Metals Corp. has entered into a definitive agreement with a subsidiary of KGL Resources Limited for a gold and silver stream on the Jervois Project in Australia. This marks Wheaton's first streaming transaction in Australia. The Jervois project is a permitted copper project with exploration potential, and the agreement will provide construction funding. Wheaton will pay KGL $275 million in upfront consideration, with installments spread over the construction period. The agreement includes specific terms for gold and silver purchase percentages and volumes, with initial production expected in the second half of 2027. Wheaton anticipates this transaction will increase its attributable gold and silver reserves and resources. The company expects to fund the upfront payment primarily from operating cash flows. KGL will provide corporate guarantees and security interests on the Project and its assets. Wheaton also committed to participate in a future equity financing by KGL for the Jervois mine.