VANCOUVER, BRITISH COLUMBIA–(CCNMatthews – Feb. 23, 2007) –
(All figures are in US dollars unless stated otherwise)
Goldcorp Inc. (TSX:G)(NYSE:GG) today reported reserves, resources, production and cash costs as of and for the year ended December 31, 2006.
– Proven and Probable gold reserves increased by 170 percent to 39.8 million ounces.
– Measured and Indicated gold resources increased more than fivefold to 16.4 million ounces.
– Inferred gold resources quadrupled to 30.8 million ounces.
– Proven and Probable silver reserves increase to 781 million ounces.
“The acquisition of assets during the year from Placer Dome and Glamis Gold drove the dramatic increases in reserves and resources in 2006,” said Kevin McArthur, President and Chief Executive Officer. “Our priority going forward will be on organic growth initiatives designed to unlock further value from our very large mineral concession holdings. We will be investing over $120 million in exploration during 2007, with most of that directed toward drilling in the shadows of our headframes.”
Qualified Persons for the Mineral Reserve and Mineral Resource estimates as defined by the National Instrument 43-101 are as follows: 1 Red Lake Gold Mines Stephan Blais, P.Eng., Red Lake Gold Mines Dean Crick, P.Geo., Red Lake Gold Mines 2 San Dimas Reynaldo Rivera, MAusIMM, Luismin S.A. de C.V. 3 Nukay Reynaldo Rivera, MAusIMM, Luismin S.A. de C.V. 4 Los Filos Mike Hester, P.E., Independent Mining Consultants Pamela de Mark, P.Geo., Snowden Mining Consultants Andy Ross, P.Geo., Snowden Mining Consultants Reynaldo Rivera, MAusIMM, Luismin S.A. de C.V. http://www.marketwired.com/press-release/goldcorp-announces-2006-reserves-production-and-cash-costs-tsx-g-637095.htm