Goldcorp Inc.

Goldcorp Inc.

October 05, 2005 12:33 ET

Mr. Ian Telfer, President and CEO, Goldcorp Inc. Receives the Entrepreneur of the Year Award

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 5, 2005) - Goldcorp Inc. (TSX:G)(NYSE:GG) is pleased to announce that Mr. Ian Telfer, President and CEO of Goldcorp Inc. received The Ernst and Young Entrepreneur Of The Year Award 2005 for the Pacific region.

The Entrepreneur Of The Year program is the "Academy Awards" of the Canadian business world. Since 1994, the program has been recognizing recipients as world-class entrepreneurs, and provides a benchmark for entrepreneurial excellence. As the first and only truly global award of its kind, it celebrates entrepreneurs who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national, and global programs in more than 115 cities and 35 countries.

Mr. Telfer was previously Chairman and CEO of Wheaton River Minerals from 2002 until its merger with Goldcorp in 2005. He has over 20 years experience in the precious metals business. As a founding director of TVX he served as its President and CEO during the first ten years and has also held positions as a Director of Lihir Gold, President and CEO of Vengold. In these capacities Mr. Telfer has raised over $2 billion for mining exploration and development around the world. Ian is a resident of Vancouver, British Columbia, Canada.

Goldcorp is the world's lowest cost and fastest growing million ounce gold producer. Gold production in 2005 is expected to exceed 1.1 million ounces at a cash cost of less than US$60 per ounce. By 2007, gold production is projected to increase by 40% to over 1.6 million ounces. The company is unhedged and debt free.

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