Goldcorp Inc.
TSX : G
NYSE : GG

Goldcorp Inc.

December 23, 2009 07:00 ET

Goldcorp Has the Right to Match Competing Proposal to Acquire Canplats Resources

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 23, 2009) - Goldcorp Inc. (TSX:G)(NYSE:GG) today announced that it has received a notice from Canplats Resources Corporation ("Canplats") (TSX VENTURE:CPQ) that Minera Penmont S. de R.L. de C.V. ("Penmont") has made a proposal to acquire all of the issued and outstanding shares of Canplats (the "Penmont Proposal") for cash consideration of $4.20 per share plus shares of a newly-formed company which will hold Canplats' exploration properties ("Spinco") pursuant to a plan of arrangement. Canplats has further advised Goldcorp that the Board of Canplats has determined that the Penmont Proposal constitutes a "Superior Proposal" within the meaning of the Business Combination Agreement dated November 16, 2009 between Canplats and Goldcorp (the "BCA") and that Canplats intends (subject to Goldcorp's right to match) to enter into an agreement with Penmont to implement the Penmont Proposal.

Under the BCA, Goldcorp has the right, for a period of five business days, to match the financial terms of the Penmont Proposal. If Goldcorp elects to match the Penmont Proposal, Canplats must enter into an agreement with Goldcorp to reflect the amended terms of the transaction and must recommend that the Canplats Securityholders approve the amended business combination with Goldcorp. Further, under the terms of the Penmont Proposal, the Penmont Proposal will be of no further effect once Goldcorp exercises its right to match. No termination, break or other fee will be payable by Canplats to Penmont in respect of Goldcorp's exercise of its right to match.

Goldcorp is considering its position with respect to the Penmont Proposal and its matching right and will keep the market apprised of further developments.

Goldcorp is the lowest-cost and fastest growing multi-million ounce gold producer with operations throughout the Americas. Its gold production remains 100% unhedged.

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, concerning the business, operations and financial performance and condition of Goldcorp Inc. ("Goldcorp"). Forward-looking statements include, but are not limited to, statements with respect to the proposed business combination with Canplats Resources Corporation and the competing offer for Canplats Resources Corporation made by Minera Penmont S. de R.L. de C.V. 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", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldcorp to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those factors discussed in the section entitled "Description of the Business – Risk Factors" in Goldcorp's annual information form for the year ended December 31, 2008 available at www.sedar.com. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and 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 included in this document, except in accordance with applicable securities laws.

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