Toronto Stock Exchange: G
New York Stock Exchange: GG
GOLDCORP SECURES KEY
STRATEGIC ASSET NEAR PE�ASQUITO WITH CLOSING OF CANPLATS RESOURCES ACQUISITION
VANCOUVER, British Columbia, February 4, 2010 � Goldcorp Inc. (TSX:
G; NYSE: GG) announced today that the acquisition of Canplats
Resources has been completed, securing for Goldcorp the Camino Rojo project
near its world-class Pe�asquito mine.
Under the plan of arrangement, each Canplats share will be exchanged for
C$4.60 in cash. In addition, holders of each Canplats share will receive
a distribution from Canplats of one share in a new exploration company with a
notional value of C$0.20 for total consideration of C$4.80 per share, or
approximately C$308.5 million.
Located approximately 50 kilometres southeast of Goldcorp�s Pe�asquito mine,
Camino Rojo nearly quadruples Goldcorp�s total land package in a core
district. Its 3,389-square kilometre land position includes the Represa
Deposit1, which has reported measured and indicated resources of 3,445,000 gold
ounces and 60,708,000 silver ounces. Inferred resources total 555,000
ounces of gold and 7,612,000 ounces of silver.
�Like the Noche Buena deposit just north of Pe�asquito, the addition of
Camino Rojo provides a robust, low-cost potential satellite operation that
would supplement production from Pe�asquito and leverage important investments
we have made in people, infrastructure and stakeholder partnerships,� said
Chuck Jeannes, Goldcorp President and Chief Executive Officer. �The exploration
team at Pe�asquito will immediately commence a program to further define the
core Represa deposit and investigate adjacent zones of sulphide mineralization.
On a regional basis, areas of interest within the Camino Rojo land
package will be integrated into Pe�asquito�s existing regional exploration
program to create a rich pipeline of drill-ready targets. Our team will then
advance a new development plan for Camino Rojo that will determine the ideal
approach to complementing Pe�asquito�s very strong production profile. No
gold production from Camino Rojo is included in Goldcorp�s current five year,
58% growth forecast.�
Goldcorp�s financial advisors are GMP Securities L.P.; its legal advisors
are Cassels Brock & Blackwell LLP in Canada and Neal, Gerber &
Eisenberg LLP in the United States.
Goldcorp is the lowest-cost and fastest growing multi-million ounce gold
producer with operations throughout the Americas. Its gold production
remains 100% unhedged.
1) Represa Deposit Mineral Resource Summary(i)(ii)
Category
|
Size
|
Grade
|
Gold
Ounces
(000�s)
|
Silver
Ounces
(000�s)
|
Tonnes
(Millions)
|
Gold
(g/t)
|
Silver
(g/t)
|
Zinc
(%)
|
Lead
(%)
|
Measured
|
9.58
|
0.76
|
13.40
|
0.34
|
0.29
|
235
|
4,126
|
Indicated
|
153.81
|
0.65
|
11.44
|
0.37
|
0.18
|
3,210
|
56,582
|
Total M&I
|
163.39
|
0.66
|
11.56
|
0.37
|
0.19
|
3,445
|
60,708
|
Inferred
|
31.03
|
0.56
|
7.63
|
0.31
|
0.10
|
555
|
7,612
|
i.
Based upon a
cut-off grade of 0.2 grams gold per tonne for oxide and transitional resources,
with a cut-off grade of 0.3 grams gold per tonne for sulphide resources.
ii.
Resources
estimated by Mr. Douglas Blanchflower, P.Geo., of Minorex Consulting, an independent
qualified person under NI 43-101, in a technical report dated January 5, 2009
and entitled "Technical Report on the Mineral Resources of the Camino Rojo
Property."
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 the future price of gold, silver, copper, lead and
zinc, the estimation of mineral reserves and resources, the realization of
mineral reserve estimates, the timing and amount of estimated future
production, costs of production, capital expenditures, costs and timing of the
development of new deposits, success of exploration activities, permitting time
lines, hedging practices, currency exchange rate fluctuations, requirements for
additional capital, government regulation of mining operations, environmental
risks, unanticipated reclamation expenses, timing and possible outcome of
pending litigation, title disputes or claims and limitations on insurance
coverage. 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�, �believes� or variations of
such words and phrases or statements 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, including
but not limited to: risks related to the integration of acquisitions; risks
related to international operations; risks related to joint venture operations;
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,
copper, lead and zinc; possible variations in ore reserves, grade or recovery
rates; failure of plant, equipment or processes to operate as anticipated; accidents,
labour disputes; delays in obtaining governmental approvals or financing or in
the completion of development or construction activities and other risks of the
mining industry, as well 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, 2008 available at www.sedar.com and Form
40-F for the year ended December 31, 2008 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 included in this document,
except in accordance with applicable securities laws.
CONTACT INFORMATION:
Goldcorp Inc.
Jeff Wilhoit
Vice President, Investor Relations
Goldcorp Inc.
(604) 696-3074
Fax: (604) 696-3001
Email: info@goldcorp.com
Website: www.goldcorp.com