Goldcorp Inc.
TSX : G
NYSE : GG

Goldcorp Inc.

November 09, 2007 19:52 ET

Goldcorp Provides Capital Expenditure Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2007) - All Amounts in $US unless stated otherwise

On today's conference call to discuss its third quarter earnings results GOLDCORP INC. (TSX:G)(NYSE:GG) provided an update to its planned capital expenditures for the 2007 year. In light of expectations for greater production throughput than that contemplated in the original feasibility study, the Company has elected to accelerate its investment at the Penasquito project in Mexico. This will result in company-wide capital expenditures totalling approximately $850 million in 2007 compared to previous guidance of $750 million. Goldcorp will provide the results of the updated feasibility study for Penasquito before year-end.

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

Safe Harbor 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, copper, zinc and lead, 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 achievement of 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, zinc and lead as well as those factors discussed in the section entitled "General Development of the Business - Risks of the Business" in Goldcorp's Form 40-F on file with the Securities and Exchange Commission in Washington, D.C. and Goldcorp's Annual Information Form on file with the securities regulatory authorities in Canada. Although Goldcorp has 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.

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