Goldcorp Provides Second Quarter 2018 Exploration Update

VANCOUVER, July 25, 2018 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) ("Goldcorp" or the "Company") is pleased to provide an update on its 2018 exploration program.  Representative drill results are provided in the appendices below; website links to further information, including full drill results, drill coordinates, quality assurance and quality control information and relevant diagrams, are provided at the end of each section.

Highlights

• Musselwhite continues to return positive drill results that exceed expectations in all key metrics including width, height and grade. Drilling results expected to support mineral reserve growth in 2018 and significant new land holdings were staked over the host greenstone belt. Recent drill hole results from PQ Deeps include 13.5 m at 17.41 g/t gold (18-PQE-025) and 9.5 m at 19.66 g/t gold (18-PQE-026), with mineralization remaining open down plunge.
  
  
• Surface and underground drilling at HG Young (Red Lake Camp) continues to support geologic model and advances project towards concept study. Mineralized intercepts include 1.83 m at 76.67 g/t gold (D142080). At Cochenour, diamond drill results continued to return broad zones of economic mineralization including 17.40 m at 12.14 g/t gold (C37039) from the Upper Main Zone and confirmed mineralization is open up and down plunge.
  
  
• Infill drilling at Silica Cap (Cerro Negro Camp) required for mineral resource estimations and has extended the known high-grade mineralization in the 600 vein by a further 300 m of strike. Drill results include 15.67 m at 14.62 g/t gold (SCDD-18135). Preliminary metallurgical testwork returned an average gold recovery of 93%. Drill rigs are now focused on the discovery of the next economic vein, testing targets at the base of the resource triangle.
  
  
• Goldcorp finalizes joint venture with Minera Frisco, S.A.B de C.V. at Peñasquito to jointly explore key regional targets in the Mazapil Valley. By the end of the second quarter of 2018, drilling commenced on the first target, Santa Cruz, under the terms of this agreement. Santa Rosa continued to return broad intersections of low grade mineralization including 254 m at 0.34 g/t gold (SRD-25-18).
  
  
• Norte Abierto gold assay results from the first holes drilled at the Casale deposit confirm the geologic and current mineral resource model and returned intersections of pophyry style mineralization including 136 m at 1.31 g/t gold (CCDDH-002A) as well as higher grade intercepts associated with magmatic breccias: 10.00 m at 18.28 g/t (CCRC-002).

Goldcorp made significant progress in the second quarter on its brownfields exploration work, where strong results, in particular at Musselwhite and Cerro Negro, continued to highlight the potential to add to our mineral reserve base in order to achieve our goal for mineral reserve growth included in our 20/20/20 plan. An aggressive field program is under way across all our Canadian sites to work up early stage targets for potential drill campaigns during the winter season. In LATAM, the focus is on new discoveries at Cerro Negro and data collation and interpretation at the Norte Abierto joint venture.

The key exploration highlights from select operations are presented below.

Musselwhite Camp

At Musselwhite (100% owned, Canada), the Company continued exploring near-mine targets to grow mineral resources and mineral reserves and initiated generative exploration programs on an expanded landholding throughout the North Caribou greenstone belt. 

During the second quarter of 2018, underground mine exploration completed mineral resource conversion drilling in the C Block portion of PQ Deeps, West Limb and the Lynx North area, with five drills testing mineral reserve and resource extensions from underground infrastructure.  All mine target zones over-performed in terms of grade and size as a result of infill and expansion drilling.  The C Block of PQ Deeps, in particular, continued to return results that exceeded expectations in all key metrics, including increased width, height and grade (see Figure 1). A selection of drill intercepts are summarized in Table 1 of the appendix, with comprehensive assays provided at the link below. Additional underground access development continues to move forward with development spiralling down to meet the plunge elevation for the 2019 exploration drill platforms.  Initial 50 m step out drilling is expected to be completed by the end of the third quarter of 2018, with additional 150 m step out drilling completed by the end of first quarter of 2019. 

Upon completion of the mineral reserve and resource conversion drill campaign, the drill rigs moved to test several new exploration targets within the mine infrastructure.  Highlights include a 300 m down-plunge stepout drill program on the Redwing area, which lies within the Southern Iron Formation (SIF).  Drilling intersected prospective visual alteration and mineralization within the targeted Howe, Yzerman and Lindsey zones; assays are pending with the exception of one drill hole returned to date from Howe (Table 1).  This stepout drilling expands the known mineralization of the various Redwing lodes to approximately 900 m in length, and additional drilling is planned to connect it to the Thunderwolves zone, which lies an additional 1.7 km down-plunge. 

Figure 1: Musselwhite PQ Deeps 'C-Block' long section, looking west. (Link to figure)

Continued broad step out exploration of the main Musselwhite mineralized stratigraphic horizons, comprising deep drilling on the North Shore of Opapamiskin Lake, 6 km northwest of the mine portal, commenced mid-second quarter of 2018.  Drilling will test the strike extension of both the PQ Deeps and the West Limb stratigraphic positions within the projected gently northwest plunging Musselwhite fold structure (Figure 2). 

The first deep drill hole currently underway is targeting a 1.2 km step out from known PQ Deeps reserves and is located 350 m step out from the mineralization previously intersected in the deep drilling campaign completed during summer 2017 (intercept of 10.3 g/t gold over 4.1 m true width).  The Lynx North stratigraphic position will also be tested by this drilling program, time permitting.  The second deep drill rig on the North Shore, due to commence drilling early in the third quarter of 2018, will test the equivalent down-plunge projection of the West Limb stratigraphic location, stepping 1.0 km northwest of known West Limb mineralization.

Additional near mine exploration is also underway to test the down plunge extensions of the Camp Bay and West Anticline zones which lie west of the main Musselwhite mineralized lodes but comprise the same prospective banded iron formation stratigraphic horizons.  Previous drilling has intersected the Camp Bay zone, located 700 m west of the Musselwhite West Limb, over a 2 km plunge length.  Wide spaced drilling is currently underway from the West Limb to test the Camp Bay horizon, and geologic modelling from this drilling will be used to plan follow-up drilling from the ice during first quarter of 2019.  The more steeply plunging West Anticline zone will also be tested from this ice drilling program over the winter months. 

Figure 2: Musselwhite three dimensional view of the deposit and location of North Shore drilling. (Link to figure)

Musselwhite regional exploration focus was significantly expanded during the second quarter of 2018.  Following the change to online map staking in early April 2018, an additional 500 km² of claims were staked by Goldcorp over the North Caribou Greenstone Belt, resulting in total landholdings of approximately 750 km² (Figure 3).  Geological and structural interpretations were completed and several new high priority exploration targets identified, for which historic data sets have been compiled and exploration strategy defined.  Field work has now commenced with the objective to ground-truth the exploration models over the target areas, applying knowledge of controls on mineralization at Musselwhite and other Archean greenstone gold models, to proceed towards refining specific programs of systematic exploration to be conducted over the 2018-2019 field seasons. 

In addition, during the second quarter of 2018, planning to access and conduct drilling at the Karl Zeemal target located 8 km southeast of the Musselwhite mine was completed.  A detailed drone magnetic survey is planned for early in the third quarter of 2018, with the aim to provide improved resolution of iron formation stratigraphy and structural geometry, followed by a drilling program which aims to expand on historical drilling and test new soil anomalies.  

Figure 3: Goldcorp claim holdings over the North Caribou Greenstone Belt, as of June 30, 2018. (Link to figure)

Musselwhite – Q2-2018 Drilling Results; Coordinates

Red Lake Camp

Exploration activity continued at the Red Lake camp (100% owned, Canada) on three advanced areas: Campbell-Red Lake Gold Mine, and HG Young and Cochenour advanced projects, and has recently extended to encompass generative exploration programs over the highly prospective 385 km² Red Lake land package. 

Underground mineral reserve definition and exploration at Campbell-Red Lake during the second quarter of 2018 was completed on three key zones in the lower eastern portions of the mine, including the R/56, PLM and HW7 zones, with the principal aim of replacing mine depletion.  The database is now closed off and modelling is being completed, with updated mineral resources and reserves scheduled for release with Goldcorp's 2018 third quarter results. 

Step-out exploration commenced during the second quarter of 2018 on several new targets. Drilling focus continues to shift eastwards towards portions of the mine containing favorable geology and structure, but which remain underexplored.  The Aviation Complex was identified during this generative phase and drilling has recently commenced.  The Aviation zone comprises folded Balmer Assemblage basalt, a significant host to gold mineralization throughout the mine, and is located close to the regional unconformity with Bruce Channel sediments, and obliquely intersected by mine sequence faults which act as fluid conduits in other parts of the mine.  Drilling to date has intersected silicification, magnetite and pyrrhotite mineralization within the Norseman zone of the Aviation Complex area; all assays are pending. 

An additional conceptual target is currently being drill tested, the High Grade Zone Offset target, which is postulated on an observed lithologic offset of the High Grade Zone host geologic sequence by approximately 300 m along the Kovala Fault.  Drilling to date has thus far confirmed the lithologic sequence which supports the fault offset theory, and minor quartz-carbonate veining with sulphide mineralization has been intersected in the target area.  Geological modelling is helping to refine the ongoing drilling program which is expected to return assay results by end of the third quarter of 2018.  The High Grade Zone produced approximately 3.32 Mt at 64.39 g/t gold for 6.87 million ounces of gold from January 2000 to June 2018, underpinning the prospectivity of this compelling exploration target. 

Figure 4: Long section of all Campbell - Red Lake mineralized zones, looking east-northeast, highlighting the PLM, Lower R/56 and HW7 zones drilled during Q2-2018. HG Young is also shown, which is located 2.1 km to the northeast of the Campbell-Red Lake underground mine complex. (Link to figure)

Campbell - Red Lake – Q2-2018 Drilling Results; Coordinates

During the second quarter of 2018, exploration development was completed at HG Young allowing the project to deploy four drills underground along with an additional drill from surface, and approximately 18,600 m of core drilling was completed.  Results returned to date confirm the geological model and plunge continuity of the system (Figure 5).  A selection of drill intercepts are summarized in Table 2 of the appendix, with comprehensive assays provided at the link below.  The HG Young project remains on track for completion of the mining concept study and development of a starter mine plan by late 2019. 

Figure 5: Long section of HG Young, looking east, showing drill pierce points returned during Q2-2018. (Link to figure)

HG Young – Q1-2018 Drilling Results; Coordinates

In the second quarter of 2018, exploration activities at Cochenour focused on the Upper Main Zone (UMZ) and Banded Iron Formation (BIF) zone.  Underground exploration drilling during the second quarter of 2018 has continued to focus on converting and expanding UMZ South, UMZ North and BIF mineralization up and down dip as well as along strike, with additional focus on continual improvement in understanding the structural controls of the deposit with the principal aim for 2018 of doubling the mineral reserve estimate ahead of production in 2019.  A total of 3,087 m of exploration diamond drilling was completed; assays are pending for the second quarter drilling.

Assay results received from the first quarter of 2018 drilling have been encouraging with some notably high grades and exceptional widths from the up-plunge extension of the lower UMZ1 zone, and from infill drilling between wide-spaced holes in UMZ 61 at Upper Cochenour (Figure 6).  A selection of drill intercepts are summarized in Table 3 of the appendix, with comprehensive assays provided at the link below. 

Figure 6: Upper Cochenour UMZ long section, looking east, showing Q2-2018 intercepts in UMZ1 & 61 mineralized zones.  Contouring is coloured by grade x true width (m). (Link to figure)

Cochenour – Q2-2018 Drilling Results; Coordinates

Generative exploration programs at Red Lake have recently commenced, following the completion of a systematic detailed geological and structural synthesis and target compilation of the Red Lake greenstone belt completed over the winter months.  In total, the Red Lake greenstone belt has yielded over 48 million ounces of gold in past production, existing resources and reserves. Goldcorp's claim holdings total 385 km² within this highly prospective Archean greenstone belt (Figure 7). 

Four high priority target areas have been identified (West Red Lake, North Madsen, McCuaig and Lennie) and are currently undergoing high resolution magnetic surveys, field mapping, soil sampling, and stripping and channel sampling of select outcrops.  The goal of the third quarter exploration activities is to refine the geological setting of each regional target area and further assess exploration potential and future strategy. Pending positive results, a drilling program will be considered for the upcoming winter season. 

Figure 7: Regional exploration target areas identified from the belt-scale litho-structural lineament study. (Link to figure)

Cerro Negro Camp

Drilling during the second quarter of 2018 has focused primarily on completing a 50 m by 50 m infill program at the Silica Cap complex with the objective of moving the target into mineral resources when the update is released with Goldcorp's 2018 third quarter results.  Additionally, mineral resource and reserve drilling was completed at the Vein Zone deep and San Marcos extension targets, while exploration drilling commenced at the Eureka North and Mariana-249 targets.

As of June 2018, six diamond drill rigs and one reverse circulation drill rig were operating on surface at Cerro Negro.  A summary of drilling completed during the second quarter is presented in Table 4 of the appendix. 

Silica Cap

The Silica Cap complex is located 10.5 km southeast of the Mariana Central area and 3.6 km south of the processing plant. To date, three sub-parallel, northwest-trending epithermal veins, 500 (Silica Cap), 600 (Gato Salvaje), and 601, along with several ancillary structures have been defined within the Silica Cap complex (Figure 8).

The 500 vein has now been defined along a strike extent of approximately 1,800 m, the 600 vein 1,100 m, and the 601 vein 1,500 m.  Mineralization is generally confined vertically between 450 m and 850 m levels.  Within the 500 vein, a 400 m by 100 m high-grade shoot plunging roughly 30° to the SE has been defined (Figure 9).  Similarly, a 700 m by 100 m higher-grade area has been defined within the 600 vein (Figure 10).  Results during the second quarter have provided better definition in the 500 vein and have expanded the delineation of the high grade shoot within the 600 vein by approximately 300 m along strike.

The true width of the 500 vein is generally between 5 m and 10 m, although shallow intercepts have encountered high-grade mineralization across larger widths in areas where the structure bifurcates and/or is cross-cut by syn-mineral, north-northwest-trending structures.  The 600 and 601 veins, subparallel veins to the south of the 500 vein, average approximately 8 m and 6 m in width, respectively.

The veins are hosted within strongly silicified rhyolitic ignimbrite rocks of the Chon Aike formation, and are characterized by colloform and vuggy silica, hydrothermal breccias and associated gold-silver mineralization.

Selection and dispatch of 32 samples distributed across representative areas of the 500, 600, and 601 veins for initial metallurgical testing was completed during the first quarter of 2018.  The initial cyanide leach test results have returned average recoveries of 93% for gold and 65% for silver.

A selection of significant results from second quarter drilling is presented in Figures 9, 10, and Table 4 in the appendix.

Figure 8.  Plan map illustrating the Silica Cap and Vein Zone areas with 2018 drilling. (Link to figure)

Figure 9.  Longitudinal section of the Silica Cap 500 vein. (Link to figure)

Figure 10.  Longitudinal section of the Silica Cap 600 vein (Gato Salvaje). (Link to figure)

Vein Zone Deep

The down dip extension of the primary Vein Zone system was a target for mineral resource and reserve expansion drilling during the first quarter of 2018. Although intercepts in the Vein Zone Deep target have been lower grade than anticipated, the results will be modelled into the 2018 mineral reserve update. Results summarized in Table 4 of the appendix correspond to down-dip and hanging wall intercepts in the main Vein Zone system. 

Other Exploration Targets

As drilling for the 2018 mineral reserve and resource estimate update is completed, drill rigs have been relocated to test new targets, at the base of the resource triangle. The first two targets tested were Eureka Delta and Mariana 249. No economic intersections have been returned and these targets have been rejected from the triangle. Exploration drilling has also commenced at the San Marcos eastern extension and gold assay results are pending. Drilling during the third quarter of 2018 will focus on the initial evaluation of identified targets Mariana-HW, Eureka North Breccia, Mariana West, and Mariana Sur.  Surface work will continue over identified targets Tres Ojos, Sinter, Eureka South, and Bajo Negro South to prepare them for drilling during the fourth quarter of 2018.  The order in which targets are drilled may be adjusted depending on progress and results of surface work.

Cerro Negro – Q2-2018 Drilling Results; Coordinates

Peñasquito Camp

Santa Rosa

Santa Rosa is a follow-up exploration target 20 km to the east-southeast of Peñasquito mine.  In addition to concessions owned by Goldcorp, the Santa Rosa project area consists of an option agreements with J. Gonzalez (315 ha) and Maverix Metals Inc. (2,695 ha) where Goldcorp owns a majority interest.  The Santa Rosa system is interpreted as a quartz porphyry complex intruding a contemporaneous volcanic pile underlain by Lower Jurassic to Upper Cretaceous carbonate stratigraphy (Figure 11).

Diamond drilling of 7,624 m has been completed in 2018 with 2,121 m in the second quarter of 2018.  The drilling was designed to test the potential of west northwest trending, dacite porphyry dykes to host mineralization along with their potential to have generated skarn mineralization where they interface with favourable carbonate stratigraphy at depth (Figure 11).  Assay results have been returned for five holes drilled during the second quarter of 2018 and continue to intersect broad low grade gold mineralization associated with dacitic porphyry dykes as well as high grade skarn style mineralization in adjacent carbonate rocks (Table 5). Currently, holes have intersected mineralization and define dimensions of 100 m to 400 m below surface and over a strike of 300 m at a 0.2 g/t gold cut off.  The zone is located 600 m west of historical mine workings and remains open along strike and at depth.

Although the holes that have intersected mineralization were targeted to intercept the dykes at perpendicular angles, further drilling will be required to determine true width and geometry of mineralization (Figure 12).

Figure 11.  Peñasquito central block, concessions, and exploration targets with the position of Santa Rosa. (Link to figure)

Figure 12.  Santa Rosa section L2477176 with significant, apparent drill width intercepts marked. (Link to figure)

Minera Frisco Joint Venture

On June 20, 2018, Minera Tayahua, S.A. de C.V (a wholly-owned subsidiary of Minera Frisco, S.A.B. de C.V.) and Minera Peñasquito, S.A. de C.V. (a wholly-owned subsidiary of Goldcorp Inc.) entered into a joint venture arrangement.  The objective of the joint venture is to amalgamate exploration ground in the Mazapil Valley (Figure 8), where numerous targets have been jointly defined.  A brief summary of the agreement is set out below:

• Of the 23,300 ha that comprise the joint venture area, approximately 60% have been provided by Minera Tayahua, with the remainder having been contributed by Minera Peñasquito.
• The joint venture will be managed by Goldcorp and overseen by a four member Technical Committee comprised of equal representation.
• The ownership of the joint-venture will at all times be 50/50, subject to dilution for failure to fund a program or one party making a sole funding decision.
• Up until the completion of a Pre-feasibility Study of any target deposit within the joint venture area, the costs will be allocation 75/25 to Minera Peñasquito and Minera Tayahua, respectively.
• Beyond the Pre-feasibility Study stage, the costs will be allocated equally (50/50) for the remainder of that project.

Drilling of the near-mine, joint venture target Santa Cruz was commenced late in the second quarter.

Peñasquito – Q2-2018 Drilling Results; Coordinates

Norte Abierto Camp

Norte Abierto (50% owned, Chile) completed a total of 41 holes for 24,646 m during the second quarter of 2018. These were distributed as follows: Casale: 24 holes for 12,159 m, Caspiche: 9 holes for 8,152 m and Luciano: 8 holes for 4,335 m. Drilling has now stopped due to the southern hemisphere winter. Drill results have been received for the first seven Casale holes (Table 6) and confirm the new geologic model and gold grade intercepts correspond well to the current resource model (Figure 13 and 14). At Luciano, the results from the first three diamond drill holes have returned broad zones of porphyry style gold mineralization including: 202.00 m at 0.59g/t gold from 524 m (LUCDDH002).

Work is now underway collating all of the data collected during the field season, finalising geologic models and updating the mineral resource models for both the Casale and Caspiche deposits.

Figure 13. Casale Surface showing 2018 highlight gold assays result received during this quarter Map. (Link to figure)

Figure 14. Casale Cross Section with azimuth 300° through the hole CCDDH-007 and CCDDH4, showing highlight results received during the second quarter of 2018. (Link to figure)

Norte Abierto– Q2-2018 Drilling Results; Coordinates

APPENDIX

Table 1: Significant drill intercepts from Musselwhite, PQ Deeps 'C Block' (received in Q2-2018).

Table 2: Significant drill intercepts from H.G. Young (received in Q2-2018) 

Table 3: Significant drill intercepts from Cochenour (received in Q2-2018) 

Table 4: Significant drill intercepts from Cerro Negro, Silica Cap (received in Q2-2018) 

Table 5: Significant drill intercepts from Santa Rosa, Peñasquito (received in Q2-2018) 

Table 6: Significant drill intercepts from Norte Abierto (received in Q2-2018) 

About Goldcorp

Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.

Scientific and technical information in this press release relating to Canadian exploration results was reviewed and approved by Tim Smith, MSc, P.Geo., Director Exploration Canada for Goldcorp, and a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Scientific and technical information in this press release relating to Latin American exploration results was reviewed and approved by Iain Kelso, P.Geo., Director Exploration Latam for Goldcorp, and a "qualified person" as defined by NI 43-101. Information on data verification performed on the mineral properties mentioned in this news release that are considered to be material mineral properties to the Company are contained in Goldcorp's most recently filed annual information form and the current technical report for each of those properties, all available at www.sedar.com.

Quality Assurance/Quality Control

Quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the core and reverse circulation sample strings. The results of the control samples are evaluated on a regular basis with batches re-analysed and/or resubmitted as needed. All results stated in this announcement have passed Goldcorp's quality assurance and quality control protocols.

Cautionary Note Regarding Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Exchange Act of 1934, as amended,  the United States Private Securities Litigation Reform Act of 1995, or in releases made by the United States Securities and Exchange Commission, all as may be amended from time to time, and "forward-looking information" under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Goldcorp. Forward-looking statements include, but are not limited to, the future price of gold, silver, zinc, copper and lead, the estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, targeted cost reductions, capital expenditures, free cash flow, costs and timing of the development of new deposits, success of exploration activities, permitting and certification time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, health, safety and diversity initiatives, 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 words such as "plans", "expects" , "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" , "believes", or variations or comparable language of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will", "occur" or "be achieved" or the negative connotation thereof.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of Goldcorp to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding Goldcorp's present and future business strategies and the environment in which Goldcorp will operate in the future, including the price of gold, anticipated costs and ability to achieve goals. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, among others, gold price volatility, discrepancies between actual and estimated production, mineral reserves and mineral resources and metallurgical recoveries, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, the United States, Mexico, Argentina, the Dominican Republic, Chile or other jurisdictions in which the Company does or may carry on business in the future, delays, suspension and technical challenges associated with capital projects, higher prices for fuel, steel, power, labour and other consumables, currency fluctuations, the speculative nature of gold exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees, additional funding requirements and defective title to mineral claims or property. Although Goldcorp believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important 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: future prices of gold, silver, zinc, copper and lead; mine development and operating risks; possible variations in ore reserves, grade or recovery rates; risks related to international operations, including economic and political instability in foreign jurisdictions in which Goldcorp operates; risks related to current global financial conditions; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; environmental risks; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; risks associated with restructuring and cost-efficiency initiatives; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; risks related to the integration of acquisitions; risks related to indebtedness and the service of such indebtedness, as well as those factors discussed in the section entitled "Description of the Business – Risk Factors" in Goldcorp's most recent annual information form  available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. 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. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. Except as otherwise indicated by Goldcorp, these statements do not reflect the potential impact of any non-recurring or other special items or of any disposition, monetization, merger, acquisition, other business combination or other transaction that may be announced or that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of Goldcorp's operating environment. Goldcorp does not intend or undertake to publicly update any forward-looking statements that are included in this document, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

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