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Goldcorp Secures Key Strategic Asset Near Peñasquito 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 Peñasquito 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 Peñasquito 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 Peñasquito, the addition of Camino Rojo provides a robust, low-cost potential satellite operation that would supplement production from Peñasquito 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 Peñasquito 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 Peñasquito’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 Peñasquito’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)

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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.
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.”

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.
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