Toronto Stock
Exchange: G
New York Stock Exchange: GG
GOLDCORP ACHIEVES
MECHANICAL COMPLETION AT PE�ASQUITO PROJECT
VANCOUVER, British
Columbia, July 13, 2009 � Goldcorp Inc. is pleased to announce that construction of
the first sulphide process line (Line 1) at its Pe�asquito project in
Zacatecas, Mexico is complete and commissioning work is advancing on schedule.
- The
primary crusher is complete and has filled the coarse ore stockpile with
230,000 tonnes of crushed ore in preparation for initial milling.
- The
Line 1 feeders and conveying systems are complete.
- Construction
of the Line 1 SAG mill and two ball mills is complete and commissioning is
under way.
- The
Line 1 lead and zinc flotation circuits are essentially complete.
For video clips showing
start-up and operation of the Line 1 mills as well as the latest photographs
from the site, please visit www.goldcorp.com and click on
Operations/Pe�asquito.
�Reaching mechanical
completion on time and on budget is a tremendous accomplishment and a testament
to the excellent team assembled at Pe�asquito,� said Chuck Jeannes, Goldcorp
President and Chief Executive Officer. �The next important milestones
will be reached with the production and shipment of first concentrates during
the second half of 2009 and expected commercial production at this world-class
mine on January 1, 2010.�
Construction of the second
sulphide process line (Line 2) is well underway and progressing toward planned
completion in the third quarter of 2010. Many of the components are
already on site, including the wrap-around drive motor for the SAG mill and the
motors for the two ball mills. The mill shells for both the SAG and ball
mills arrived in Mexico in early July and are currently en-route to the
site. Each of the two process lines have designed throughput of 50,000
tonnes per day. Following the completion of the high pressure grinding
roll circuit, throughput is expected to reach 130,000 tonnes per day in the
fourth quarter of 2010.
Project Update
Good progress continues to
be made in all aspects of project development. Highlights
include:
- Commissioning
of the last of the initial haul trucks. All 57 of the 300 tonne
trucks are operating in conjunction with four electric shovels. The
mining rate is now averaging in excess of 500,000 tonnes per day.
The primary purpose of the current mining of overburden and surface oxide
ore is to expose the underlying sulphide ore in preparation for the
commencement of milling operations. Throughout this mining activity,
more sulphide ore has been encountered than was planned and as a result a
stockpile of 4.2 million tonnes of sulphide has been established ahead of the
primary crusher.
- Construction
and permitting of a new, permanent airstrip west of the site facilities to
replace the previous temporary facility. Flights to the new airstrip commenced in June.
- Advancement
of mine optimization initiatives, including an independent power plant and
in-pit crushing and conveying.
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 Gold Eagle�s
business, properties and assets with Goldcorp, 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.
Readers should not place undue reliance on forward-looking statements. For
a more detailed discussion of such risks and other factors, please refer to
Goldcorp�s website, www.goldcorp.com.
CONTACT INFORMATION:
Jeff Wilhoit
Vice President, Investor
Relations
(604) 696-3074
Fax: (604) 696-3001
Email: info@goldcorp.com
Website: www.goldcorp.com