Wheaton River Minerals Ltd.

Wheaton River Minerals Ltd.
Goldcorp Inc.

Goldcorp Inc.

March 07, 2005 16:00 ET

Wheaton Achieves Record Reserve/Resource Levels


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 7, 2005 - 16:00 ET

Wheaton Achieves Record Reserve/Resource Levels

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 7, 2005) - Wheaton
River Minerals Ltd. ("Wheaton") (TSX:WRM)(AMEX:WHT), recently acquired
by Goldcorp Inc. (TSX:G)(NYSE:GG), is pleased to report record levels of
gold reserves and resources as of December 31, 2004, summarized as
follows:

- Proven and Probable gold reserves have increased to 5.1 million ounces;

- Measured and Indicated resources have increased to 3.7 million ounces;
and

- Inferred resources have increased to 5.1 million ounces.

Ian Telfer, Chairman & Chief Executive Officer of the Company said:
"Nearly one million gold ounces were added to the reserve base during
2004, almost double the year's production of 513,000 ounces. Wheaton has
also exceeded 5 million ounces of Proven and Probable gold reserves for
the first time in company history. When you combine this organic growth
in reserves and resources with our record gold production and cost
achievements of 2004, the strength of our operating team stands out."



WHEATON RIVER MINERALS LTD.
PROVEN AND PROBABLE RESERVES
AS OF DECEMBER 31, 2004 (1,5,6,7)
-----------------------------------------------------------------

million million
GOLD tonnes g Au/t ounces

Luismin Mexico 4.73 5.54 0.84
(100%)
Peak Australia 2.10 6.05 0.41
(100%)
Alumbrera Argentina 140.25 0.52 2.36
(37.5%)(2)
Amapari Brazil 20.65 2.30 1.53
(100%)
TOTAL 5.14
-----------------------------------------------------------------

million million
SILVER tonnes g Ag/t ounces

Luismin Mexico 3.53 355 40.3
(100%)
TOTAL 40.3
-----------------------------------------------------------------

million million
COPPER tonnes % Cu pounds

Peak Australia 2.10 0.56% 26
(100%)
Alumbrera(2) Argentina 140.25 0.48% 1,471
(37.5%)
TOTAL 1,497
-----------------------------------------------------------------



WHEATON RIVER MINERALS LTD. RESOURCES
AS OF DECEMBER 31, 2004 (1,3,4,5,6,7)
--------------------------------------------------------------------
Measured &
Indicated Inferred
--------------------------------------------------------------------

million million million million
GOLD tonnes g Au/t ounces tonnes g Au/t ounces

Luismin Mexico 10.48 1.76 0.59 25.49 2.7 2.22
(100%)
Los Filos Mexico 88.21 0.89 2.52 11.26 0.7 0.26
(100%)
El Limon Mexico - - - 6.50 3.3 0.68
(21.2%)(2)
Peak Australia 1.66 4.15 0.22 2.59 9.4 0.78
(100%)
Alumbrera Argentina 11.25 0.39 0.14 - - -
(37.5%)(2)
Amapari Brazil 3.28 1.86 0.20 8.93 3.9 1.11
(100%)
TOTAL 3.67 5.06
--------------------------------------------------------------------

million million million million
SILVER tonnes g Ag/t ounces tonnes g Ag/t ounces

Luismin Mexico - - - 15.80 287 145.6
(100%)
TOTAL - 145.6
--------------------------------------------------------------------

million million million million
COPPER tonnes % Cu pounds tonnes % Cu pounds

Peak Australia 1.66 1.26 46 2.59 0.6 32
(100%)
Alumbrera Argentina 11.25 0.40 99 - - -
(37.5%)(2)
TOTAL 145 32
--------------------------------------------------------------------

Notes:

1. All Mineral Reserves and Mineral Resources have been calculated
as of December 31, 2004 in accordance with the standards of the
Canadian Institute of Mining, Metallurgy and Petroleum and
National Instrument 43-101, or the AusIMM JORC equivalent.
2. Data shown is Wheaton River's share of reserves and resources.
3. All Mineral Resources are exclusive of Mineral Reserves.
4. Mineral Resources which are not Mineral Reserves do not have
demonstrated economic viability.
5. Qualified Persons for the Mineral Reserve and Mineral Resource
estimates as defined by the National Instrument 43-101 are as
follows:
a. Luismin - San Dimas and San Martin reserves and resources
Reynaldo Rivera, AusIMM, Luismin S.A. de C.V.
b. Luismin - Nukay reserves and resources Gary Giroux. P.Eng.,
Micon Consultants
c. Los Filos resources Neil Burns, P.Geo., Snowden Mineral
Industry Consultants
d. El Limon resources James N. Grey, P.Geo., Al Samis, P.Geo.,
Teck Cominco Ltd.
e. Alumbrera reserves and resources Luis Rivera, AusIMM, Minera
Alumbrera Ltd.
f. Peak Gold reserves Joe Ranford, AusIMM, Peak Gold Mines
g. Peak Gold resources Rex Berthelsen, AusIMM, Peak Gold Mines
h. Amapari reserves and resources Rodrigo Mello, AusIMM, Wheaton
Gold Brazil
i. Wheaton River Corporate Randy V.J. Smallwood, P.Eng., Wheaton
River Minerals Ltd.
6. Mineral Reserves and Mineral Resources are estimated using
appropriate recovery rates and commodity prices as follows;
a. San Dimas, San Martin, Nukay, Peak, Amapari - US$ 375 per
ounce of gold, US$ 5.50 per ounce of silver (where applicable),
and US$ 0.95 per pound of copper (where applicable)
b. Alumbrera reserves - US$ 350 per ounce of gold, US$ 0.90 per
pound of copper
c. Los Filos, El Limon, Alumbrera resources - wholly contained
within an optimization shell defined by using US$ 400 per
ounce of gold and US$ 1.00 per pound of copper (where
applicable)
7. For a detailed breakdown of Proven and Probable Reserves, and
Measured, Indicated and Inferred Resources please reference the
supplemental information attached at the end of this press
release, or visit www.wheatonriver.com.


Reserve and Resource Growth

Luismin For the first time ever the prolific San Dimas camp has
exceeded one million gold equivalent ounces in proven and probable
reserves. Surface and underground drilling continues to define a high
grade east-west regional trend through the centre of this district, and
the new tunnel to access these vein systems at depth is advancing ahead
of schedule. At the San Martin operation, development of the Cuerpo 31
orebody is progressing on schedule and the first ore was delivered from
this orebody during 2004. Drilling from both surface and underground
continues to define and expand the northern and depth extents of this
orebody.

Los Filos The December 31, 2004 resource is reported within a US$ 400
gold optimized pit shell, and includes crush/leach resources of 51
million measured and indicated tonnes grading 1.28 grams of gold per
tonne for a total of 2.1 million ounces. In addition, metallurgical
testing during the year has shown that a large amount of lower grade
material previously defined as uneconomic can be profitably run-of-mine
leached. Since acquisition, drilling and metallurgical improvements have
increased the global measured and indicated resource ounces at Los Filos
by 41%.

El Limon During 2004 drilling was focused on defining the limits of the
Guajes West orebody and testing extensions to the south of the Limon Sur
deposit. Over the year, inferred resources at this deposit were
increased by 63% to over 3 million ounces, all contained within a US$
400 gold pit optimization shell. An infill drilling campaign is expected
to begin during 2005.

Peak Since the acquisition of Peak in mid 2003, gold ounces contained
in resources have now more than doubled. 2005 drilling will focus on
advancing these resource ounces into the reserve base.

Alumbrera A significant drilling program was conducted during 2004,
adding more than two years of operating life to this world class
operation. At the end of 2004, another 30 million tonnes were added as
measured and indicated resources.

Amapari Since acquisition in January 2004 the Company has conducted a
successful infill and step-out drilling program. Studies have
demonstrated that open pit mining of a portion of the sulphide reserves
is feasible, and the consequent decrease in operating costs per tonne
has resulted in a significant amount of lower grade material becoming
economically mineable. Cash costs are expected to remain in line with
previous projections of US$ 137 per ounces of gold. Production is
expected to commence in Q3 2005.

In 2005, Wheaton expects to produce 675,000 gold equivalent ounces at a
total cash cost of less than $50 per gold equivalent ounce. By 2006,
with the Los Filos and Amapari projects in operation, overall production
will increase to over 950,000 gold equivalent ounces at a total cash
cost of less than $100 per gold equivalent ounce.

In December 2004, the Company announced it had reached an agreement in
principle to combine with Goldcorp through a share exchange take-over
bid whereby Goldcorp offered one common share of Goldcorp for every four
common shares of Wheaton. On February 10, 2005, Goldcorp shareholders
approved the combination and on February 14, 2005, approximately 69% of
Wheaton common shares were tendered to the Goldcorp offer. As a result,
effective February 15, 2005, Goldcorp will consolidate the operations of
Wheaton. The combination will create one of the world's lowest cost
million ounce gold producers. 2005 gold production of the combined
company is expected to exceed 1.1 million ounces of gold at a total cash
cost of less than $60 per ounce. By 2007, gold production is expected to
grow to 1.5 million ounces with commencement of operation at Los Filos
and Amapari and the expansion of the Red Lake Mine shaft. The combined
company will have a strong balance sheet with over $500 million in cash
and gold bullion, and no debt.

Cautionary 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 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 River 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 the company on
file with the U.S. Securities and Exchange Commission in Washington,
D.C. Although Wheaton River 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.

This news release uses the terms "Measured", "Indicated" and "Inferred"
Resources. United States investors are advised that, 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 great uncertainty
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.



Supplemental Information;
Wheaton River Equity Gold Proven and Probable Reserves

RESERVES PROVEN
as of December 31, 2004

GOLD mt g Au/t m oz

LUISMIN San Dimas 1.09 7.20 0.25
LUISMIN San Martin 0.61 4.21 0.08
LUISMIN Nukay 0.42 4.73 0.07
WHEATON ASIA
PACIFIC Peak Gold 0.83 5.28 0.14
XSTRATA Alumbrera 132.00 0.53 2.25
WHEATON GOLD
BRAZIL Amapari 5.54 2.13 0.38
----
Totals 3.17

SILVER mt g Ag/t m oz

LUISMIN San Dimas 1.09 489 17.2
LUISMIN San Martin 0.61 67 1.3
----
Totals 18.5

COPPER t % Cu m lbs

WHEATON ASIA
PACIFIC Peak Gold 0.83 0.73% 13
XSTRATA Alumbrera 132.00 0.48% 1,397
-----
Totals 1,410


RESERVES
as of December 31, 2004 PROBABLE PROVEN & PROBABLE

GOLD mt g Au/t m oz mt g Au/t m oz

LUISMIN San Dimas 1.49 5.77 0.28 2.59 6.37 0.53
LUISMIN San Martin 0.34 4.63 0.05 0.95 4.36 0.13
LUISMIN Nukay 0.77 4.65 0.12 1.19 4.68 0.18
WHEATON ASIA
PACIFIC Peak Gold 1.27 6.55 0.27 2.10 6.05 0.41
XSTRATA Alumbrera 8.25 0.41 0.11 140.25 0.52 2.36
WHEATON GOLD
BRAZIL Amapari 15.11 2.36 1.15 20.65 2.30 1.53
---- ----
Totals 1.97 5.14

SILVER mt g Ag/t m oz mt g Ag/t m oz

LUISMIN San Dimas 1.49 442 21.2 2.59 462 38.4
LUISMIN San Martin 0.34 51 0.6 0.95 62 1.9
---- ----
Totals 21.8 40.3

COPPER t % Cu m lbs t % Cu m lbs
WHEATON ASIA
PACIFIC Peak Gold 1.27 0.45% 13 2.10 0.56% 26
XSTRATA Alumbrera 8.25 0.41% 75 140.25 0.48% 1,471
---- ----
Totals 87 1,497



Supplemental Information;
Wheaton River Equity Gold Resources Exclusive of Reserves

RESOURCES MEASURED INDICATED
as of December 31, 2004

GOLD mt g Au/t m oz mt g Au/t m oz

LUISMIN San Dimas - - - - - -
LUISMIN San Martin - - - - - -
LUISMIN Nukay 0.04 5.31 0.01 10.45 1.75 0.59
LUISMIN Los Filos 20.67 0.81 0.54 67.54 0.91 1.98
TECK COMINCO El Limon - - - - - -
WHEATON ASIA
PACIFIC Peak Gold 0.59 2.47 0.05 1.07 5.09 0.17
XSTRATA Alumbrera 9.75 0.40 0.13 1.50 0.30 0.01
WHEATON GOLD
BRAZIL Amapari 0.62 2.40 0.05 2.66 1.73 0.15
---- ----
Totals 0.77 2.90

SILVER mt g Ag/t m oz mt g Ag/t m oz

LUISMIN San Dimas - - - - - -
LUISMIN San Martin - - - - - -
---- ----
Totals - -

COPPER mt % Cu m lbs mt % Cu m lbs

WHEATON ASIA
PACIFIC Peak Gold 0.59 1.27% 17 1.07 1.25% 29
XSTRATA Alumbrera 9.75 0.40% 86 1.50 0.40% 13
---- ----
Totals 103 43



RESOURCES MEASURED & INDICATED INFERRED
as of December 31, 2004

GOLD mt g Au/t m oz mt g Au/t m oz

LUISMIN San Dimas - - - 13.26 3.4 1.44
LUISMIN San Martin - - - 2.54 2.5 0.21
LUISMIN Nukay 10.48 1.76 0.59 9.69 1.8 0.58
LUISMIN Los Filos 88.21 0.89 2.52 11.26 0.7 0.26
TECK COMINCO El Limon - - - 6.50 3.3 0.68
WHEATON ASIA
PACIFIC Peak Gold 1.66 4.15 0.22 2.59 9.4 0.78
XSTRATA Alumbrera 11.25 0.39 0.14 - - -
WHEATON GOLD
BRAZIL Amapari 3.28 1.86 0.20 8.93 3.9 1.11
---- ----
Totals 3.67 5.06

SILVER mt g Ag/t m oz mt g Ag/t m oz

LUISMIN San Dimas - - - 13.26 316 134.8
LUISMIN San Martin - - - 2.54 133 10.8
---- ----
Totals - 145.6

COPPER mt % Cu m lbs mt % Cu m lbs

WHEATON ASIA
PACIFIC Peak Gold 1.66 1.26% 46 2.59 0.56% 32
XSTRATA Alumbrera 11.25 0.40% 99 - - -
---- ----
Totals 145 32



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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Wheaton River Minerals Ltd. / Goldcorp Inc.
    Julia Hasiwar
    Director, Investor Relations
    (604) 696-3011
    (604) 696-3001 (FAX)
    ir@wheatonriver.com
    www.wheatonriver.com