Calgary, Alberta – October 6, 2004 – Ian W. Delaney, Chairman, and Barry M. Heck, President & CEO, announced today that Dr. Roger G.H. Downer has been appointed to The Westaim Corporation’s Board of Directors.

Dr. Downer is President and Vice Chancellor of the University of Limerick, Ireland.  He has served as Chair of the Council of Heads of Irish Universities, Chair of the Conference of University Rectors in Ireland and Chair of the advisory committee responsible for the establishment of the University of Luxembourg.  Dr. Downer previously served as President of the Asian Institute of Technology, an international postgraduate university based in Thailand, from 1996 to 1998. In this capacity, Dr. Downer interacted with senior political and corporate leaders throughout Asia. He also served on the board of directors of the JF Kennedy Foundation.

Much of Dr. Downer’s academic career was spent at the University of Waterloo, Canada where he served as a professor, researcher and academic administrator.  He is the author or co-author of over 160 research publications. His research efforts have resulted in national and international recognition including the FJR Fry Gold Medal, the ESC Gold Medal and election as a Fellow of the Royal Society of Canada and election as a member of the Royal Irish Academy.  In 2003 he was conferred with the honorary degree of LL.D by Queen’s University in Belfast and in 2004 he was conferred with the honorary degree of D.Sc by the University of Waterloo. Dr. Downer received a B.Sc, M.Sc and D.Sc from Queen’s University in Belfast and a PhD from the University of Western Ontario.

“Dr. Downer brings a wealth of knowledge and experience in international business relations, which further strengthens Westaim’s Board of Directors,” said Ian W. Delaney, Chairman, The Westaim Corporation. “His contributions will be instrumental as iFire Technology and NUCRYST Pharmaceuticals move to the next stages of their commercialization strategies.”

The Westaim Corporation’s technology investments include: NUCRYST Pharmaceuticals, which researches, develops and commercializes wound care and pharmaceutical products based on its nanocrystalline silver technology; and iFire Technology, which has developed a revolutionary low-cost flat panel display. Westaim's common shares are listed on NASDAQ under the symbol WEDX and on The Toronto Stock Exchange under the trading symbol WED.

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For more information contact:

David Wills

Investor Relations

The Westaim Corporation

(416) 504-8464

info@westaim.com

www.westaim.com