Toronto Stock
Exchange: G
New York Stock Exchange: GG
Goldcorp Announces Completion
of Silver Wheaton Transaction
(All figures are in US
dollars unless stated otherwise)
VANCOUVER, BRITISH
COLUMBIA, July 25, 2007 - GOLDCORP INC. (TSX: G; NYSE: GG) has completed the previously
announced sale to Silver Wheaton (TSX, NYSE: SLW) of 25% of the life of mine
silver production from Goldcorp's Pe�asquito project for a cash payment of $485
million. The agreement also requires Silver Wheaton to pay an ongoing
per-ounce payment equal to the lesser of $3.90 (subject to annual inflationary
adjustments) and the prevailing market price per ounce of silver delivered
under the contract.
"This transaction
builds powerful leverage into the Pe�asquito project," said Kevin
McArthur, President and Chief Executive Officer. "We are pleased to
have accomplished this without risk, debt or share dilution, while preserving
upside potential in this world-class asset."
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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