Goldcorp Inc.

Goldcorp Inc.

April 04, 2007 18:15 ET

Sale of Amapari Mine Completed and Construction Resumes at Goldcorp's Los Filos Mine

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2007) - GOLDCORP INC. (TSX:G)(NYSE:GG) announced today that it has completed the previously announced sale of its Amapari mine in Brazil to Peak Gold Ltd. for 155,000,000 Peak Gold common shares, representing approximately 22% of the outstanding shares of Peak Gold. Goldcorp does not have any present intention to acquire ownership of, or control over, additional securities of Peak Gold. It is the intention of Goldcorp to evaluate its investment in Peak Gold on a continuing basis and such holdings may be increased or decreased in the future.

The previously announced sale of Goldcorp's Peak mine in Australia for $200,000,000 in cash is anticipated to take place following receipt of approval from the Foreign Investment Review Board in Australia. The purchase price for the Peak mine is being held in escrow pending completion of the sale. It is expected that such approval will be obtained within 30 days.

Goldcorp is also pleased to report construction at its Los Filos mine in Guerrero, Mexico has resumed after a road block was lifted that was obstructing the mine's main access road.

The roadblock had been carried out by certain communities and landowner groups requesting renegotiation of existing land purchase and rental agreements. A new agreement is in place, and the Company is re-mobilizing construction contractors and the work force in charge of commissioning the mine. The Company expects the first production of gold from Los Filos during the second quarter of 2007.

Goldcorp is one of the world's lowest-cost and fastest growing multi-million ounce gold producers with operations throughout the Americas.

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. Forward-looking statements include, but are not limited to, statements with respect to receiving approval from the Foreign Investment Review Board in Australia for the sale of the Peak mine. 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", or "believes", or variations of such words and phrases or state 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, such as 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, 2006, available on, and Form 40-F for the year ended December 31, 2006 on file with the United States Securities and Exchange Commission in Washington, D.C. 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 incorporated by reference herein, except in accordance with applicable securities laws.

Contact Information