Webcast Advisory - The Westaim Corporation Webcast of Annual Meeting of Shareholders

                            Tuesday, May 12, 2009
                                10:00 a.m. ET

    CALGARY, May 7 /CNW/ - The Westaim Corporation will hold a webcast at
10:00 a.m. ET on Tuesday, May 12, 2009 to broadcast the Company's Annual
Meeting of Shareholders.
    The Westaim Corporation will also be releasing its 2009 first quarter
results on Monday, May 11, 2009. 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 Annual Meeting of Shareholders webcast live on the
Internet, please go to www.westaim.com.
    Ian W. Delaney, Chairman of the Board, and Cameron MacDonald, President &
Chief Executive Officer will participate on the webcast.
    An audio file of the webcast will be archived and posted on the Westaim
web site.

    The Westaim Corporation invests, directly and indirectly, through
acquisitions, joint ventures and other arrangements, with the objective of
providing its shareholders with capital appreciation and real wealth
preservation. Westaim holds a 75 per cent interest in NUCRYST Pharmaceuticals
Corp. (NASDAQ:   NCST; TSX: NCS). Westaim's common shares are listed on The
Toronto Stock Exchange under the trading symbol WED.

    %SEDAR: 00002793E

For further information:

For further information: Cameron MacDonald, President and Chief
Executive Officer, The Westaim Corporation, (416) 203-0850, info@westaim.com

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