🕐04.05.11 - 23:27 Uhr

GOLDCORP EARNINGS MORE THAN DOUBLE IN THE FIRST QUARTER



Toronto Stock Exchange: G New York Stock Exchange: GG GOLDCORP EARNINGS MORE THAN DOUBLE IN THE FIRST QUARTER VANCOUVER, BRITISH COLUMBIA, May 4, 2011 � GOLDCORP INC.

(TSX: G, NYSE: GG) today reported operating cash flows of $586 million for the first quarter of 2011 based on gold production of 637,600 ounces at a total cash cost1 of $188 per ounce.

Reported net earnings from continuing operations in the quarter were $651 million compared to $232 million in the first quarter of 2010.�Adjusted net earnings from continuing operations2 were $397 million, or $0.50 per share, compared to $159 million, or $0.22 per share, in the first quarter of 2010. First Quarter 2011 Highlights Revenues increased 69% over the 2010 first quarter, to $1.2 billion, on gold sales of 627,300 ounces.� Operating cash flow increased 108% over the 2010 first quarter, to $586 million or $0.73 per share. Adjusted net earnings increased 150% over the 2010 first quarter, to $397 million or $0.50 per share. Average realized gold price increased 26% over the 2010 first quarter, to $1,394 per ounce. Gold and silver sales account for 86% of first quarter revenues. Cash costs totaled $188 per ounce on a by-product basis and $504 per ounce on a co-product basis.

After investment of $352 million capital in growth projects and existing mines, free cash flow3 totaled $234 million for the quarter. Dividends paid amounted to $75 million. Quarter end cash balance of $1.3 billion; net cash position of $575 million. Cerro Negro feasibility study update enhances gold production growth profile.

Positive study results at �l�onore and Cochenour projects advance development of next generation Canadian growth projects. To read the complete news release, please see our web site at http://goldcorp.com/_resources/news_releases/Q1_2011_Earnings_FINAL_with_Financials.pdf
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