Excellent MineWeb report on Wheaton River''s merger with IAMGOLD

Section:

9:30p ET Tuesday, March 30, 2004

Dear Friend of GATA and Gold:

Wheaton River Minerals and IAMGOLD announced their
merger tonight in a plan that was said to vault the
new company to the ranks of the top 10 gold producers.

The merger would be accomplished by exchanging
each Wheaton River share for just more than half a
share of IAMGOLD, which is said to be a 22 percent
premium over the average price of Wheaton shares
for the last week. Wheaton River shareholders would
own 68 percent of the combined company and the
combined company would take a new name.

The announcement suggested that the new company
would be looking for acquisitions.

The merger seems to signify increasing interest in
the gold mining industry and gold in general and
seems likely to be very good for the gold cause, since
both companies are unhedged and IAMGOLD has been a
leader in the private remonetization of gold, holding
gold in its treasury and paying dividends in gold.

The Wheaton-IAMGOLD press release is appended.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Wheaton and IAMGOLD announce merger plan

http://biz.yahoo.com/prnews/040330/to162_1.html

Joint Press Release

TORONTO and VANCOUVER, March 30 -- IAMGOLD Corp. and
Wheaton River Minerals Ltd. are pleased to announce that
their boards of directors have unanimously agreed to
combine the two companies to create one of the world's
top 10 gold producers.

Highlights:

* One-million-ounce gold producer with total cash costs of
less than US$100 per gold equivalent ounce in 2004.

* A strong balance sheet with US$300 million in cash and
gold bullion plus excellent operating cash flow.

* Unhedged, proven and probable reserves of 9 million ounces
plus additional measured and indicated resources of 4 million
ounces.

* Combined daily average trading liquidity of approximately
US$45 million.

* Production to increase by over 30 percent to 1.3 million
gold equivalent ounces in 2006.

* Experienced entrepreneurial management team led by
Joseph Conway and Ian Telfer.

Joseph Conway, president and CEO of IAMGOLD, commented
on the business combination stating: "This is a major step
in the evolution of both companies. It creates a combined
company with one million ounces of annual production, low
cash operating costs, and near-term growth that should be
attractive to all investors in the gold sector."

His thoughts were echoed by William Pugliese, chairman of
IAMGOLD, who added: "I am very excited about the prospects
of combining the assets and management talents of both
companies."

Ian Telfer, chairman and CEO of Wheaton, stated: "We believe
that the gold industry is about to enter a period of
considerable consolidation. To be the first company out of
the blocks, with a strong balance sheet and considerable cash
on hand, will place our combined company in a pre-eminent
position to take advantage of new opportunities."

The combination has the unanimous approval of the boards of
directors of IAMGOLD and Wheaton River. Management of the
new company will be led by a team consisting of Joseph
Conway as president and chief executive officer, Ian Telfer as
executive co-chairman and William Pugliese as co-chairman
of the Board of Directors. The expanded Board of Directors
of the company will include the eight current IAMGOLD
directors and the eight current Wheaton directors. The
common shares of the new company will continue to trade
on the Toronto Stock Exchange and the American Stock
Exchange. Prior to closing the transaction the newly
combined company will be renamed.

Summary of the Transaction

The combination will be completed by way of a plan of
arrangement whereby each Wheaton River share will be
exchanged for 0.55 of an IAMGOLD share representing a
22 percent premium over the five-day average closing share
price of Wheaton as of March 30, 2004. As a result of the
proposed transaction, the combined company will be held
68 percent by existing Wheaton shareholders and 32
percent by existing IAMGOLD shareholders.

The combination is subject to due diligence, to be concluded
before April 30, 2004, whereupon the parties will enter into a
definitive agreement. The combination is subject to receipt of
fairness opinions, all requisite regulatory approvals, and
third-party consents and other conditions customary in
transactions of this nature. The combination must be approved
by at least two-thirds of the votes cast by the shareholders of
Wheaton and by a majority of the votes cast by the
shareholders of IAMGOLD. The shareholder meetings are
expected to be held in June 2004, with the transaction
expected to close shortly thereafter.

If the combination does not occur as a result of one of the
parties accepting a superior proposal from a competing
bidder, then the party which accepted the superior proposal
will be required to pay a fee equal to 3 percent of its market
capitalization to the other party.

IAMGOLD's financial advisors are National Bank Financial
Inc. and RBC Capital Markets. Wheaton's financial advisors
are GMP Securities Ltd. and Endeavour Financial Corp.

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