Goldcorp Inc.

Goldcorp Inc.

August 10, 2009 16:24 ET

Goldcorp Acquires Investment in Osisko

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 10, 2009) - Goldcorp Inc. (TSX:G)(NYSE:GG) announced today that it has acquired 8,462,500 common shares of Osisko Mining Corporation ("Osisko") and 4,271,500 common share purchase warrants of Osisko on the TSX. Each warrant is exercisable for one common share of Osisko for $5.45 per share until November 17, 2009.

The securities acquired represent approximately 3.2%, of the outstanding common shares of Osisko before giving effect to the exercise of the warrants and approximately 4.8% of the outstanding shares of Osisko after giving effect to the exercise of the warrants acquired by Goldcorp (but before the exercise of any other warrants or convertible securities of Osisko). After giving effect to the transaction, Goldcorp beneficially owns or exercises control or direction over 33,842,500 common shares (approximately 12.9% of the outstanding common shares) and 4,271,500 warrants. Goldcorp has acquired the common shares and warrants of Osisko for investment purposes. Goldcorp has no present intention to increase its holdings in Osisko although it will evaluate the investment in Osisko and whether to increase or decrease its shareholdings in response to market conditions, the business and prospects of Osisko and other factors.

A copy of the early warning report to be filed in connection with this transaction may be obtained from Jeff Wilhoit, Vice President, Investor Relations of Goldcorp at (604) 696-3000.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Goldcorp's intention to with respect to its shareholdings in Osisko. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "scheduled", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Goldcorp does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

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