Wheaton River Minerals Ltd.

Wheaton River Minerals Ltd.
Goldcorp Inc.

Goldcorp Inc.

March 31, 2005 15:42 ET

Goldcorp Inc. and Wheaton River Minerals Ltd.: Goldcorp Completes Acquisition of Bermejal Gold Deposit in Mexico


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: WHEATON RIVER MINERALS LTD.

TSX SYMBOL: WRM
AMEX SYMBOL: WHT

AND GOLDCORP INC.

TSX SYMBOL: G
NYSE SYMBOL: GG

MARCH 31, 2005 - 15:42 ET

Goldcorp Inc. and Wheaton River Minerals Ltd.:
Goldcorp Completes Acquisition of Bermejal Gold
Deposit in Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 31, 2005) - Goldcorp
Inc. (TSX:G)(NYSE:GG), and Wheaton River Minerals Ltd.
(TSX:WRM)(AMEX:WHT) (together "Goldcorp"), are pleased to announce that
they have completed the acquisition by their Mexican operating arm,
Luismin, of the 2.4 million ounce Bermejal Gold Deposit in Mexico for
cash consideration of US$70 million from Minera El Bermejal, S. de R.L.
de C.V., a joint venture of Industrias Penoles S.A. de C.V. and Newmont
Mining Corporation.

The Bermejal Gold Deposit is located 2 kilometres south of Goldcorp's
Los Filos Gold Deposit, where feasibility studies are nearing
completion. The acquisition increases Goldcorp's current measured and
indicated mineral resources in the Guerrero Gold Belt district to nearly
6 million ounces of gold. The immediate proximity to Goldcorp's Los
Filos Gold Deposit will allow the use of a joint processing facility for
ore from both deposits and should result in the Los Filos project
becoming the largest gold mining operation in Mexico, with average
annual production expected to exceed 300,000 ounces. For further details
of the indicated mineral resource estimate for the Bermejal Gold
Deposit, please see the press release of Goldcorp dated March 22, 2005.

In February 2005, Goldcorp announced that its offer for Wheaton River
was successful and this merger is expected to be finalized in April
2005. The combined company, which continues as Goldcorp under the
direction of Wheaton River management, creates the world's lowest cost
million ounce gold producer, with 2005 gold production expected to
exceed 1.1 million ounces of gold at a cash cost of less than US$60 per
ounce. By 2007, gold production is expected to grow to over 1.5 million
ounces. The combined company has a strong balance sheet with
approximately US$500 million in cash and gold bullion, and no debt.

Cautionary Statements

Safe Harbour Statement under the United States Private Securities
Litigation Reform Act of 1995: Except for the statements of historical
fact contained herein, the information presented constitutes
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including but not limited to those with respect to the price
of gold, silver and copper, the timing and amount of estimated future
production, costs of production, reserve determination and reserve
conversion rates involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of Wheaton or Goldcorp to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, risks
related to the integration of acquisitions, risks related to
international operations, risks related to joint venture operations, the
actual results of current exploration activities, actual results of
current reclamation activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined, future
prices of gold, silver and copper, as well as those factors discussed in
the section entitled "Risk Factors" in the Form 40-F for each company on
file with the U.S. Securities and Exchange Commission in Washington,
D.C. Although Wheaton and Goldcorp have attempted to identify important
factors that could cause actual results to differ materially, 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.

This news release uses the terms "Measured", "Indicated" and "Inferred"
Resources. United States investors are advised that, while such terms
are recognized and required by Canadian regulations, the U.S. Securities
and Exchange Commission does not recognize them. "Inferred Resources"
have a great amount of uncertainty as to their existence and as to their
economic and legal feasibility. It cannot be assumed that all or any
part of an "Inferred Resource" will ever be upgraded to a higher
category. Under Canadian rules, estimates of Inferred Resources may not
form the basis of feasibility or other economic studies. U.S. investors
are cautioned not to assume that all or any part of Measured or
Indicated Resources will ever be converted into Reserves. U.S. investors
are also cautioned not to assume that all or any part of an Inferred
Mineral Resource exists, or is economically or legally mineable.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Goldcorp Inc.
    Julia Hasiwar
    Director, Investor Relations
    (604) 696-3011
    (604) 693-3001 (FAX)
    info@goldcorp.com
    www.goldcorp.com