Bellavista Prefeasibility Study Indicates Total Cash Costs of US$168/oz.

TORONTO--(BUSINESS WIRE)--April 23, 1998-- (TSE:WRM.) Wheaton River Minerals Ltd. is pleased to announce that it has received the results of a detailed prefeasibility study on its 100 percent owned Bellavista gold project in Costa Rica. The study indicates that a profitable open pit and underground gold mine can be constructed at the site and produce gold, utilizing heap leach processing, at a total cash cost of US$168 per ounce.

Bikerman Engineering and Technology Associates Inc. of Mansfield, Connecticut, conducted the study. David Bikerman, President, was instrumental in the development of a number of heap leach operations in Central America when he was Vice-President, Engineering for Greenstone Resources Ltd. Also contributing to the study were Golder Associates on heap leach pad stability and design, and McClelland Laboratories on metallurgy and processing.

The study examines two scenarios for production, the first mining only the open pit reserves and the second including additional production from the underground resource. The underground deposit requires infill drilling to upgrade it to reserve status. The study estimates that the Bellavista project can achieve the following pre-tax results, based on a US$350 per ounce gold price over the life of the mine: -0-

                    Open Pit Only   Open Pit & Underground
Capital Costs      $21.8 million      $34.4 million
Operating Cost Per Tonne
 - Ore                     $6.74              $7.75
Cash Operating Costs/Oz
 Gold *                     $163               $151
Total Cash Costs/Oz
 Gold *                     $181               $168
Total Production Costs/Oz
 Gold *                     $239               $231
Internal Rate of Return    29.0%              28.2%
Net Present Value
 (5% DR)           $27.9 million      $41.6 million
Net Present Value
 (10% DR)          $17.7 million      $25.3 million
Gold Recovery              75.5%              75.7%
Annual Ore
 Production  1.35 million tonnes 1.35 million tonnes
Average Annual Gold
 Production        51,500 ounces       64,000 ounces
Total Gold
 Recovered        386,400 ounces      557,700 ounces
Life of Mine         Years - 7.5        Years  - 8.7

            *Using Gold Institute guidelines. All monetary figures in US
dollars.

            Proven and probable reserves and mineable resource estimates for
Bellavista are as follows:

Deposit    Category    Tonnes    Grade     Contained  Strip
                                (g/tonne)  Ounces     Ratio
Open Pit    Mineable
            Reserve   9,590,000   1.66       511,800   1.28:1

Underground  Mineable 2,252,000   3.70       267,900     N/A
             Resource

It is Wheaton River's intention to commence a 7600-metre underground infill drilling program in June aimed at placing the underground mineable resource into the reserve category. Drill spacing is currently on approximate 50-metre centres and the planned program will reduce this to 25-metre centres.

The results of that drilling will be incorporated into the final feasibility study, which is scheduled for completion in early 1999. The project schedule includes finalizing permitting and financing arrangements in 1999 and a one-year construction phase beginning late that year. Wheaton River is well financed to bring the project to the final feasibility stage.

CONTACT: Wheaton River Minerals Ltd.

Kerry J. Knoll, 416/ 860-0919

Ian J. McDonald, 416/ 860-0919