SECURITIES AND EXCHANGE
COMMISSION

Washington, D.C.  20549

_________________

Amendment No.1

to
  FORM 40-F



|                                                                                           
|-------------------------------------------------------------------------------------------
|£Registration statement pursuant to Section 12 of
      the Securities Exchange Act of 1934

or

|                                                                                              
|----------------------------------------------------------------------------------------------
|TAnnual report pursuant to Section 13(a) or 15(d) of the
      Securities Exchange Act of 1934



|                                                 |                                       
|------------------------------------------------ | --------------------------------------
|For the
      fiscal year endedDecember 31, 2006 | Commission File Number
      001-32482



SILVER WHEATON CORP.

(Exact
name of registrant as specified in its charter)



|                                                                                       |                                                              |                                                           
|-------------------------------------------------------------------------------------- | ------------------------------------------------------------ | ----------------------------------------------------------
|Ontario, Canada(Province or Other Jurisdiction of
      Incorporation or Organization) | 1041
      (Primary Standard Industrial Classification Code) | Not
      Applicable(I.R.S. Employer Identification
  No.)



Suite 3150 - 666 Burrard
StreetVancouver, BCV6C 2X8

(604) 684-9648

(Address
and telephone number of registrants principal executive offices)

_________________

|                                                                                                                                                                                                                                                                   
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|DL Services, Inc.
      U.S. Bank Center
      1420 5th Avenue, Suite 3400
      Seattle, WA 98101-4010
      (206)903-8800
      (Name, address (including zip code) and telephone number
      (including area code) of agent for service in the United
  States)

__________________

Securities to be registered
pursuant to Section 12(b) of the Act:

|                            |                                                                 
|--------------------------- | ----------------------------------------------------------------
|Title of Each
      Class:  | Name of Each Exchange On
      Which Registered:                
|Common Shares, no par value | New York Stock
      Exchange
      Toronto Stock
      Exchange



Securities registered pursuant to
Section 12(g) of the Act:  None

Securities for which there is a
reporting obligation pursuant to Section 15(d) of the Act:  None

For annual reports, indicate by
check mark the information filed with this form:

SAnnual
Information

TAudited Annual Financial
Statememnts



Indicate the number of outstanding shares of each of the
registrants classes of capital or common stock as of the close of the period
covered by the annual report:

| |                                   |                        
| | --------------------------------- | -----------------------
| | Class                             | Outstanding
      at   
| |                                   | December 31,
      2006
| | Common shares, no par
      value | 220,562,111            



Indicate by
check mark whether the Registrant by filing the information contained in this
Form is also thereby furnishing the information to the Commission pursuant to
Rule 12g3-2(b) under the Securities Exchange Act of 1934 (the "Exchange Act").
If "Yes" is marked, indicate the filing number assigned to the Registrant in
connection with such Rule.   ̈ Yes
   x  No

Indicate by
check mark whether the Registrant (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or
for such shorter period that the Registrant was required to file such reports)
and (2) has been subject to such filing requirements for the past 90 days. x  Yes   ̈
 No









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EXPLANITORY NOTE

This Amendment No.1 to Form 40-F for the year ended December 31, 2006 is being filed to amend the Registrant's Annual Information Form to revise disclosure related to the Luismin Los Filos Projects.







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SIGNATURES

Pursuant to the requirements of the Exchange Act, the Registrant
certifies that it meets all of the requirements for filing on Form 40-F and has
duly caused this annual report to be signed on its behalf by the undersigned,
thereunto duly authorized.



| |                                             | 
| | ------------------------------------------- | 
| | SILVER WHEATON CORP.                        | 
| |                                             | 
| | /s/ Peter Barnes                            | 
| | Peter Barnes                                | 
| | President and Chief Executive
      Officer | 





Date: February 8, 2008



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EXHIBIT INDEX

The following documents are
being filed with the Commission as exhibits to this annual report on Form
40-F.

|                                                                                                           |                                                                                                                                                                         
|---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Exhibit                                                                                                    | Description                                                                                                                                                             
|99.1**                                                                                                     | Annual
      Information Form                                                                                                                                           
|                                                                                                           |                                                                                                                                                                         
|99.2*                                                                                                      | Annual
      Report for the year ended December 31, 2006 including Managements
      Discussion & Analysis and Annual Financial Statements                             
|                                                                                                           |                                                                                                                                                                         
|99.3*                                                                                                      | Consent
      of  Deloitte & Touche LLP                                                                                                                                 
|                                                                                                           |                                                                                                                                                                         
|99.4*                                                                                                      | Consent
      of L. Malmstrm                                                                                                                                           
|                                                                                                           |                                                                                                                                                                         
|99.5*                                                                                                      | Consent
      of P. Hedstrom                                                                                                                                            
|                                                                                                           |                                                                                                                                                                         
|99.6*                                                                                                      | Consent
      of J. Sullivan                                                                                                                                            
|                                                                                                           |                                                                                                                                                                         
|99.7**                                                                                                     | Consent
      of V. Spring                                                                                                                                              
|                                                                                                           |                                                                                                                                                                         
|99.8*                                                                                                      | Consent
      of G. MacFarlane                                                                                                                                          
|                                                                                                           |                                                                                                                                                                         
|99.9*                                                                                                      | Consent
      of R. Rivera                                                                                                                                              
|                                                                                                           |                                                                                                                                                                         
|99.10                                                                                                      | Consent of G. Watts                                                                                                                                                     
|                                                                                                           |                                                                                                                                                                         
|31                                                                                                         | Certifications
      of Chief Executive Officer and Chief Financial Officer pursuant to Rule
      13(a)-14(a) or 15(d)-14 of the Securities Exchange Act of
      1934.
|                                                                                                           |                                                                                                                                                                         
|32                                                                                                         | Certifications
      of Chief Executive Officer and Chief Financial Officer pursuant to 18
      U.S.C. Section 1350.                                                   
|                                                                                                           |                                                                                                                                                                         
|* Previously Filed                                                                                        
|** Replaces exhibit of same description as filed with the annual report on Form 40-F dated March 23, 2007.