Toronto Stock
Exchange: G
New York Stock Exchange: GG
Goldcorp Completes Transaction
for Full Ownership of Canadian Gold Assets
VANCOUVER, BRITISH
COLUMBIA, December 21, 2007 - GOLDCORP INC. (TSX: G, NYSE: GG) is pleased
to announce that it has completed the previously announced transaction with
Kinross Gold Corporation to acquire Kinross' 49% share of the Porcupine gold
mines in northeastern Ontario and its 32% share of the Musselwhite gold mine in
northwestern Ontario. In exchange, Kinross received Goldcorp's 50% stake
in the La Coipa silver-gold mine in Chile and $200 million in cash.
Goldcorp is one of the
world's lowest-cost and fastest growing multi-million ounce gold producers 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.
For further information,
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