Tuesday November 7, 2006
                                4:30 p.m. EST
                               www.westaim.com

CALGARY, Nov. 2 /PRNewswire-FirstCall/ - The Westaim Corporation will hold a webcast at 4:30 p.m. EST on Tuesday November 7, 2006 regarding the company's 2006 third quarter results.

In addition to standard disclosure over wire services, a news release and financial statements will be posted on the Westaim web site. To listen to the call live on the Internet, please go to www.westaim.com.

Barry Heck, President & Chief Executive Officer, Tony Johnston, Senior Vice President and Drew Fitch, Senior Vice President & Chief Financial Officer will participate on the call.

An audio file of the call will be archived and posted on the Westaim web site.

The Westaim Corporation's technology investments include NUCRYST Pharmaceuticals Corp. (NASDAQ: NCST; TSX: NCS), which develops, manufactures and commercializes medical products that fight infection and inflammation based on its nanocrystalline silver technology and iFire Technology Corp., which has developed a 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.

SOURCE  Westaim Corporation
    -0-              11/02/2006
    /CONTACT: Gillian McArdle, (416) 504-8464, info@westaim.com/
    (WED. WEDX)

CO:  Westaim Corporation
ST:  Alberta
IN:  MLM MTC
SU:  CCA

    -30-

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