Goldcorp Reports Record Net Earnings

Goldcorp reported record net earnings of $256.5 million, or $0.36 per share, for the quarter ended December 31, 2007 and $460.1 million or $0.65 per share, for the year. Production in 2007 increased 35% to 2,292,600 gold ounces at a total cash cost of $163 per ounce.

2007 Full-Year Highlights

- Enhanced position as top gold producer in Canada by acquiring 100% ownership of Musselwhite and Porcupine mines in Ontario.
- Approved Penasquito expansion to 130,000 tonnes per day.
- Increased gold reserves 9% and silver reserves 37%.
- Completed portfolio simplification initiative by disposing of non-core assets: Peak, Amapari and 50% stake in La Coipa.
- Sold entire investment in Silver Wheaton to syndicate of underwriters for cash proceeds of approximately $1.6 billion, received February 14, 2008.
- Paid $126.9 million in dividends.

Goldcorp Reports Record Net Earnings in Fourth Quarter