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Goldcorp announces strong quarterly cash flow and earnings; Gold reserves increase for ninth consecutive year

  Goldcorp announces strong quarterly cash flow and earnings; Gold reserves
                     increase for ninth consecutive year

PR Newswire

VANCOUVER, Feb. 14, 2013

(All Amounts in $US unless stated otherwise)

TSX: G NYSE: GG

VANCOUVER, Feb. 14, 2013 /PRNewswire/ - GOLDCORP INC. (TSX: G, NYSE: GG)
reported record fourth quarter gold production of 700,400 ounces compared to
gold production of 687,900 ounces in the fourth quarter of 2011. Reported net
earnings in the quarter were $504  million, or $0.62 per share compared to
$405 million, or $0.50 per share in the same period a year ago. Adjusted net
earnings^1 were $465 million, or $0.57 per share compared to $531 million, or
$0.66 per share in the same period a year ago.  Operating cashflows before
working capital changes^2  totaled $721  million compared to $831 million in
the fourth quarter of 2011.

Fourth Quarter 2012 Highlights

  *Revenues totaled $1.4 billion on gold sales of 645,100  ounces.
  *Operating cash flows before working capital changes totaled $721  million
    or $0.89 per share.
  *Adjusted net earnings totaled $465 million, or $0.57 per share.
  *All-in sustaining cash costs totaled $910 per ounce, $360 per ounce on a
    by-product cash cost^4 basis, and $621 per ounce on a co-product cash
    cost^4 basis.
  *Dividends paid amounted to $110  million. Annual dividend increased 11%
    to $0.60 per share.

Full-Year 2012 Highlights

  *Revenues increased to a record $5.4 billion on gold sales of 2.3 million 
    ounces.
  *Operating cash flows before working capital changes totaled $2.4 billion
    or $2.97 per share.
  *Adjusted net earnings totaled $1.6 billion, or $2.03 per share.
  *All-in sustaining cash costs totaled $874 per ounce, $300 per ounce on a
    by-product cash cost basis, and $638 per ounce on a co-product cash cost
    basis.
  *Dividends paid amounted to $438  million.
  *Proven and probable gold mineral reserves increased 4% to 67.1 million
    ounces or 3.5% on a per share basis^5.

"Excellent quarterly  performances at  our  two largest  mines resulted  in  a 
strong finish to 2012  and position Goldcorp for  a much improved 2013,"  said 
Chuck Jeannes, Goldcorp President and  Chief Executive Officer. "Red Lake  in 
Canada benefited from full access to higher grade gold zones while  Peñasquito 
in Mexico performed well despite commencing mining in a new, lower-grade phase
of the pit during the quarter. A full year of gold production at Pueblo Viejo
in the Dominican  Republic, coupled with  production stability throughout  our 
portfolio will enable a  renewed focus on productivity  and efficiency at  our 
mines in the year ahead. Goldcorp's "Operating for Excellence" initiative  is 
aimed at identifying and implementing best  practices to unlock the full  cash 
flow potential within our asset base.

"Another key priority  in 2013  is the timely  advancement of  our three  gold 
growth projects  currently  under  construction that  are  expected  to  drive 
forecast 70%  production  growth in  the  next  five years.  Cerro  Negro  in 
Argentina remains on track for initial gold production at the end of this year
amid successful achievement  of key  milestones and  growing ore  stockpiles. 
Éléonore in Quebec  continues to benefit  from a development  plan focused  on 
capital efficiency and  building a solid  production platform beyond  expected 
first production  in late  2014.  Development of  Cochenour  in Red  Lake  is 
expected to accelerate, bringing a stronger production profile to the Red Lake
complex following the start of production in 2015.

"Goldcorp's consistent strategy  is centered on  realizing strong  shareholder 
value in a challenging industry through growing, low-cost production. We have
always focused on strengthening our overall portfolio through the addition  of 
high quality  gold projects,  divestiture of  non-core assets  and  successful 
exploration investments that have driven a ninth consecutive year of growth in
gold reserves. We also enter 2013 with an outstanding balance sheet with  the 
flexibility to pursue new opportunities  while maintaining an active  dividend 
policy to return value to shareholders."

Ninth Consecutive Year of Reserve and Resource Growth

Goldcorp also announced today that  proven and probable gold mineral  reserves 
increased by  4% to  67.1  million ounces,  the  ninth consecutive  year  that 
Goldcorp has increased  gold reserves. Proven  and probable silver  mineral 
reserves totaled 1.2 billion  ounces, representing one  of the largest  silver 
reserves in the industry.

Gold reserve growth at Cerro Negro,  Camino Rojo, Marigold and Porcupine  more 
than offset decreases at Peñasquito, Los  Filos and Red Lake, which  decreased 
primarily as a result of the removal of marginally economic gold ounces. On a
per share basis, gold reserves increased 3.5%.

Complete mineral reserve and mineral resource data including tonnes, grades
and ounces can be found at the end of this news release and has been posted to
www.goldcorp.com. The following summary accounts for the changes in gold
ounces year over year:

Proven and probable reserves as of January 1, 2012             64.7 moz
Mined ounces during 2012 (including mining depletion)           3.1 moz
Net discovered ounces and converted resources during 2012       4.6 moz
Net changes due to metal prices/engineering                     1.0 moz
Proven and probable reserves as of January 1, 2013         67.1 moz

*Numbers may not add up due to rounding

At Cerro  Negro, an  aggressive exploration  program featuring  eight  surface 
diamond drills completed 421 holes for a total of 146,112 metres for the year.
Proven and  probable gold  reserves have  now increased  177% to  5.7  million 
ounces from  the initial  proven and  probable gold  reserve estimate  of  2.1 
million ounces  (7.14Mt at  9.03 g/t  Au) at  acquisition in  December,  2010. 
Exploration during  2012 focused  on  in-fill drilling  and expansion  of  the 
Mariana Central, Mariana Norte  and San Marcos  deposits. These efforts  have 
led to extensions in the strike length of all three veins and demonstrated the
emergence of adjacent vein  systems. An exploration  program budgeted at  $36 
million for 2013 will focus on further extending the Mariana Central,  Mariana 
Norte and  San  Marcos veins  to  the east  and  drill-testing of  other  vein 
targets.

Successful drilling at the Camino Rojo project near Peñasquito contributed 1.6
million ounces to proven and probable gold reserves, based on a positive study
for  mining   of  near-surface   oxide  and   transition  mineralization   and 
conventional heap leach processing. The  Company is following up on  positive 
exploration results in the  sulphide portions of the  deposit that will  defer 
development of  the heap  leach  operation. Work  will  continue in  2013  on 
sulphide zone exploration.

Red Lake 2012 proven and probable gold reserves totaled 3.2 million ounces, as
drilling during the year focused on resource expansion rather than  conversion 
of existing  resources  to  reserves.  This effort  was  successful  with  the 
confirmation of the extension  of the High  Grade Zone between  the 52 and  57 
levels, and the discovery of  the new NXT Zone to  the west of the High  Grade 
Zone. With a  budget of  $40 million  the focus in  2013 will  be on  in-fill 
drilling between  the 48  and 55  levels in  the High  Grade Zone  to  convert 
resources to reserves, and definition and extension of the NXT Zone above  and 
to the west of the 54 level,  with the objective of identifying the  up-plunge 
extents. Construction is progressing on an exploration drift at the 47  level 
with expected completion by  the end of  the first quarter  in 2013 that  will 
provide a  platform to  increase  NXT Zone  drill  density for  conversion  of 
resources to reserves.  Additional exploration  work in the  High Grade  Zone 
will focus on a newly-discovered structure at the bottom of the 4699 ramp.

At Peñasquito, proven  and probable  gold reserves decreased  to 15.7  million 
ounces, consistent with normal depletion  of the deposit. Exploration is  now 
focused on  testing deep  mantos and  skarn type  mineralization related  with 
copper mineralization, beneath and adjacent to the current open pit  workings. 
 Preliminary results show that  the sulphide horizons contain copper,  lead, 
zinc, gold and silver.

At Marigold, exploration activity for 2012 focused on development drilling  in 
the GAP and central part of Mackay pit, Herco and Red Dot areas where positive
results have increased proven and probable reserves to 3.3 million ounces,  an 
increase of 960,000  ounces over 2011  to Goldcorp's share  of the proven  and 
probable gold reserve, extending mine life by an additional five years.

Record Quarterly Production Drives Strong Revenues

Gold sales in the fourth quarter were 645,100 ounces on production of  700,400 
ounces. This compares to  sales of 685,000   ounces on production of  687,900 
ounces in the  fourth quarter of  2011. Reported net  earnings in the  quarter 
were $504  million  compared to $405  million in the  fourth quarter of  2011. 
Adjusted net earnings in the fourth quarter totaled $465 million, or $0.57 per
share, compared to $531 million or $0.66  per share, in the fourth quarter  of 
2011. Adjusted net earnings in 2012 exclude the effect of a non-cash  foreign 
exchange loss on translation of deferred income tax assets and liabilities,  a 
non-cash provision related to the revision in estimates on the reclamation and
closure costs for the Company's inactive and closed mine sites, net impairment
charges and gains on disposition related to certain of its equity investments,
and unrealized  gains on  derivative  instruments but  include the  impact  of 
non-cash stock option expenses, which amounted to approximately $10 million or
$0.01 per  share for  the quarter.  Operating cash  flows before  changes  in 
working capital totaled $721  million compared to $831 million in last  year's 
fourth quarter.

Beginning in 2013, Goldcorp is adopting an all-in sustaining cash cost measure
that the Company believes more fully  defines the total costs associated  with 
producing gold. All-in sustaining cash  costs include by-product cash  costs, 
sustaining capital, corporate general  & administrative expenses,  exploration 
expense and reclamation cost accretion. As  the measure seeks to reflect  the 
full cost of gold production from  current operations, new project capital  is 
not included in  the calculation. A  full reporting of  cash activities  will 
continue to be available  in the Company's  financial statements and  Goldcorp 
will continue to  report cash costs  on a by-product  and co-product basis  in 
addition to all-in sustaining cash costs.  For the fourth quarter 2012  all-in 
sustaining cash costs  were $910  per ounce. Total  cash costs  were $360  per 
ounce on a by-product basis and $621 per ounce on a co-product basis.

For the twelve months ended December 31, 2012, revenues totaled $5.4  billion. 
Net earnings for 2012 were  $1.7 billion or $2.16  per share, compared to  net 
earnings of $1.9 billion  or $2.34 per share  in 2011. Adjusted net  earnings 
totaled $1.6 billion, or  $2.03 per share, compared  to $1.8 billion or  $2.22 
per share,  in 2011.  Cash flow  from operations  before changes  in  working 
capital totaled $2.4  billion compared to  $2.7 billion in  the twelve  months 
ended December 31, 2011. For 2012, all-in sustaining cash costs were $874  per 
ounce. Total cash costs were  $300 per ounce on  a by-product basis and  $638 
per ounce on a co-product basis.

Mexico

At Peñasquito  throughput averaged  98,800 tonnes  per day  during the  fourth 
quarter resulting  in  gold production  of  112,900 ounces.  Gold  production 
decreased from the third quarter as mining commenced in a lower grade  portion 
of the pit. Strong  by-product silver, lead and  zinc credits contributed  to 
by-product cash costs during the quarter of $17 per ounce of gold and negative
$457 per ounce of gold  for the year. Grades  continue to reconcile well  with 
reserves. Following  the  first quarter,  Peñasquito  grades are  expected  to 
increase significantly  throughout  the  year. Mill  throughput  in  2013  is 
forecast at  105,000  tonnes  per  day  as  the  Company  continues  to  bring 
additional water wells into production within the Cedros Basin in addition  to 
new dewatering wells  within the  Chile Colorado  pit. A  water and  tailings 
study is expected  to be  completed in  the first half  of 2013  to develop  a 
comprehensive long-term water strategy for the Peñasquito district. Full year
2013 gold production is expected to be between 360,000 to 400,000 ounces.

Gold production at Los  Filos increased 16% over  the prior quarter to  92,800 
ounces and contributed to a record year of gold production of 340,400 ounces.
The construction of the next expansion phase  of the Los Filos heap leach  pad 
facility began  during  the fourth  quarter  of 2012  and  is expected  to  be 
completed in  the second  quarter  of 2013.  Gold  production during  2013  is 
expected to be  between 340,000 to  350,000 ounces. During  2013, the  Company 
will investigate the potential for an expansion at Los Filos.

Canada

Gold production at Red  Lake increased 39% from  the prior quarter to  168,300 
ounces at a total cash cost of $403 per ounce. Following the completion of the
de-stressing program in the third  quarter, increased flexibility in the  High 
Grade Zone was achieved which increased the number of high grade mine headings
available. For 2012,  gold production  totaled 507,700 ounces  at total  cash 
costs of $494 per  ounce. Production in 2013  is expected between 475,000  to 
510,000 ounces. One  de-stress slot  is planned for  late 2013  at the  46/47 
level.

At Porcupine in Ontario, higher grade  and higher tonnage from increased  mill 
utilization led to fourth quarter gold production of 74,100 ounces at a  total 
cash cost of $750 per ounce. For 2012, gold production totaled 262,800 ounces
at a total cash cost of $772 per ounce. The Hoyle Pond Deep project continued
to progress, which will access deeper discovered zones of gold  mineralization 
and enhance operational flexibility and efficiencies throughout the Hoyle Pond
underground complex. By the end of 2012, full face shaft sinking had advanced
to within 20  metres of  the 720 metre  level skip  dump excavation.  Pending 
receipt of permits the initial production from the Hollinger open pit  project 
is expected in the  first half of  2013. For 2013,  total gold production  at 
Porcupine is expected at between 270,000 and 280,000 ounces.

Central America

At Pueblo Viejo, Goldcorp's 40% share of gold production totaled 43,700 ounces
for the fourth quarter and 44,700  ounces for the year. Modifications to  one 
of the four autoclaves  was carried out in  December 2012 to implement  design 
improvements and allow for higher throughputs. These modifications are  being 
made to the remaining three autoclaves during the first half of 2013.  Pueblo 
Viejo achieved  commercial  production  in  January  2013.  Ramp-up  to  full 
capacity is  expected to  occur in  the second  half of  2013 with  production 
forecast between 330,000  to 435,000 ounces  to Goldcorp's account.  Forecast 
annual average production is expected to be between 415,000 to 450,000  ounces 
of gold to Goldcorp's account  in the first five  years of full production  at 
cash costs of less than $350 per ounce^6. As part of a longer-term, optimized
power solution for Pueblo Viejo,a plan is underway to build a dual-fuel power
plant and is expected to commence operations in 2013.

Certain members  of  the  Dominican  Republic  (DR)  congress,  including  the 
President of the  Chamber of Deputies,  have expressed a  desire to amend  the 
Special Lease Agreement (SLA) to accelerate and increase the benefits that the
DR will  derive from  the Pueblo  Viejo  mine. The  SLA, which  provides  for 
substantial benefits to the DR, including royalties and taxes, in addition  to 
other benefits such as  employment and purchasing of  goods and services,  was 
approved by Congress  in 2009  and cannot be  unilaterally altered.  However, 
Barrick, as  the operator,  while  reserving its  rights  under the  SLA,  has 
engaged in a dialogue with representatives  of the government, with a view  to 
achieving a mutually  acceptable outcome. At  this time, the  outcome of  the 
dialogue is uncertain,  but any  amendments to  the SLA  could impact  overall 
project economics.

Advancing a High-Quality Project Pipeline

To fund Goldcorp's peer-leading growth pipeline, capital expenditures for 2013
are forecast  at approximately  $2.8 billion,  of which  approximately 60%  is 
allocated  to  projects  and  40%  for  operations.  Major  project   capital 
expenditures in 2013 include approximately  $775 million at Cerro Negro,  $650 
million at Éléonore,  $100 million  at Cochenour,  and $50  million at  Camino 
Rojo.

Cerro Negro is  advancing on schedule  towards first  gold at the  end of  the 
current year. Engineering, Procurement and Construction Management activities
are steadily progressing with detailed engineering 55% completed by the end of
2012. Progress  on plant  construction  included completing  the  excavations, 
large concrete pours for building  foundations, base and walls and  installing 
the anchor bolts.  The ball  mill is  at site  and all  other major  imported 
mechanical  equipment  has  been  secured  and  is  on  site  or  en   route. 
Construction of  the  tailings  facility  commenced  with  progress  ahead  of 
schedule. Construction of the high voltage  power line is pending receipt  of 
government approvals, anticipated to be received in early March 2013.

The Eureka decline,  which will  access the first  ore from  Cerro Negro,  has 
advanced to a  length of 2,135  metres of  a total planned  decline length  of 
approximately 3,900 metres. The Eureka stockpile contains an estimated 40,316
tonnes at a grade  of 11.08 g/t  gold and 204 g/t  silver, and is  reconciling 
well with  reserve estimates.   Excavation  of the  ramps into  the  Mariana 
Central and  Mariana  Norte  veins  are advancing  according  to  the  project 
development  schedule.  Production  is  expected  to  average  approximately 
525,000 ounces of gold in its first five full years of production.

At the  Cochenour project,  construction of  the five-kilometre  Cochenour-Red 
Lake Haulage Drift  advanced to 68%  of completion at  year-end with  expected 
completion by the end of  the first quarter of  2014. Two drills continue  to 
test the exploration  potential of this  underexplored area. A  study of  the 
overall project was  completed in the  fourth quarter of  2012 that  concluded 
that  the  Bruce  Channel  ore   body  is  lower  than  previously   expected, 
necessitating the deepening of the Cochenour shaft by 245 metres resulting  in 
first gold deferred  to the  first half of  2015. Following  ramp-up to  full 
production, forecast life-of-mine  gold production is  expected to be  between 
225,000 to 250,000 ounces per year.

At the Éléonore gold project in Quebec, a milestone was reached in the  fourth 
quarter with the completion of the production shaft hoist room and head  frame 
facilities, allowing shaft  sinking activities to  commence on schedule.  The 
exploration ramp excavation has now reached over 2,500 metres in length, which
corresponds to a  vertical depth of  380 metres below  surface. During  2013, 
underground exploration  drilling  from  the ramp  will  accelerate,  enabling 
further definition drilling  of the  deep portion  of the  Roberto deposit  to 
proceed.  Currently,  four  diamond  drills  are  conducting  definition  and 
exploration drilling  from  strategic  working platforms  in  the  ramp.  The 
exploration shaft is now undergoing  conversion from sinking mode to  designed 
operating mode. Engineering,  Procurement and Construction  Management at  the 
end of the 2012 had reached 44% completion.

Following the completion  of work  with regard  to mine  planning and  initial 
development capital, the project capital estimate has been confirmed at  $1.75 
billion based on  all available  information. Initial  production remains  on 
track for late 2014 with average life-of-mine gold production once the mine is
at full production of approximately 600,000 ounces.

Cyanide Code Certification

During the fourth quarter, Wharf mine  in South Dakota became fully  certified 
under the International Cyanide Management Code for the Manufacture, Transport
and Use of Cyanide  in the Production of  Gold ("the Cyanide Code"),  becoming 
Goldcorp's ninth mine to be certified.

Guidance For 2013

On January 7^th, Goldcorp announced production and cash cost guidance for  the 
2013 year.  The Company  has forecast  an approximate  10% increase  in  gold 
production to between  2.55 and 2.80  million ounces. Total  cash costs  are 
expected to be between $525  to $575 per ounce of  gold on a by-product  basis 
and between $700 to $750 per ounce of gold on a co-product basis. All-in  cash 
costs are expected at between $1,000 to $1,100 per ounce.

This release should be read in conjunction with Goldcorp's 2012 financial
statements and MD&A report on the Company's website, www.goldcorp.com, in the
"Investor Resources - Reports & Filings" section under "Annual Reports".

Complete reserve and resource information for all metals, including tonnage,
grade and accompanying metals price assumptions can be found below and has
been posted to www.goldcorp.com.

                         GOLDCORP INC.
      GOLD AND SILVER RESERVES AND RESOURCES SUMMARY TABLE
                    As of December 31, 2012
      Reserves       Contained Gold (Moz) Contained Silver (Moz)
       Proven                23.9                 599.2
      Probable               43.0                 561.2
 Proven & Probable           67.1                1,160.4
                                                  
     Resources                                     
      Measured               4.2                   64.2
     Indicated               21.7                 309.9
Measured & Indicated         25.9                 374.0
      Inferred               25.9                 111.3



 



Complete reserve and resource estimates are as follows:

                          GOLDCORP INC.
            PROVEN AND PROBABLE RESERVES^(1),(4),(5)
                     AS OF DECEMBER 31, 2012

                  Based on attributable ounces
                  GOLD                      Mt    Au g/t   Moz
   Peñasquito Mill          Mexico       1,062.6   0.44   15.17
Pueblo Viejo (40.0%)  Dominican Republic  109.94   2.83   10.01
      Los Filos             Mexico        296.71   0.78    7.43
  El Morro (70.0%)          Chile         449.51   0.47    6.73
     Cerro Negro          Argentina       18.91    9.43    5.74
      Porcupine             Canada        108.78   1.24    4.35
  Marigold (66.7%)      United States     196.43   0.52    3.28
      Red Lake              Canada        10.48    9.57    3.23
      Éléonore              Canada        12.48    7.56    3.03
     Musselwhite            Canada        11.23    6.34    2.29
     Camino Rojo            Mexico        66.76    0.76    1.63
       Marlin             Guatemala        7.44    4.18    1.00
     Dee (40.0%)        United States     20.42    1.44    0.95
  Alumbrera (37.5%)       Argentina       81.26    0.36    0.93
        Wharf           United States     22.12    0.82    0.58
Peñasquito Heap Leach       Mexico        119.75   0.13    0.52
      El Sauzal             Mexico         4.42    1.52    0.22
               TOTAL GOLD                               67.08
                 SILVER                     Mt    Ag g/t   Moz
   Peñasquito Mill          Mexico       1,062.60 25.45   869.52
Pueblo Viejo (40.0%)  Dominican Republic  109.94  17.69   62.53
      Los Filos             Mexico        296.71   5.51   52.54
     Cerro Negro          Argentina       18.91   81.20   49.36
       Marlin             Guatemala        7.44   188.56  45.08
Peñasquito Heap Leach       Mexico        119.75  10.98   42.28
     Camino Rojo            Mexico        66.76   14.94   32.07
     Dee (40.0%)        United States     20.42    7.07    4.64
        Wharf           United States     22.12    3.34    2.37
              TOTAL SILVER                             1,160.40
                 COPPER                     Mt     % Cu    Mlbs
  El Morro (70.0%)          Chile         449.51   0.49   4,886
  Alumbrera (37.5%)       Argentina       81.26    0.36    640
Pueblo Viejo (40.0%)  Dominican Republic  109.94   0.10    232
              TOTAL COPPER                              5,758
                  LEAD                      Mt     % Pb    Mlbs
   Peñasquito Mill          Mexico       1,062.60  0.25   5,814
               TOTAL LEAD                               5,814
                  ZINC                      Mt     % Zn    Mlbs
   Peñasquito Mill          Mexico       1,062.60  0.60   13,961
               TOTAL ZINC                               13,961

 



                        GOLDCORP INC.
    MEASURED AND INDICATED RESOURCES^(1),(2),(3),(4),(6)
                   AS OF DECEMBER 31, 2012

                Based on attributable ounces
                  GOLD                     Mt   Au g/t  Moz
      Porcupine             Canada       169.22  1.18   6.43
Pueblo Viejo (40.0%)  Dominican Republic 80.78   2.14   5.57
   Peñasquito Mill          Mexico       576.98  0.18   3.41
      Red Lake              Canada        4.69  15.41   2.32
      Los Filos             Mexico       71.02   1.03   2.35
    Cerro Blanco          Guatemala       2.52  15.64   1.27
     Noche Buena            Mexico       71.75   0.42   0.96
     Camino Rojo            Mexico       23.14   0.76   0.57
     Cerro Negro          Argentina       5.12   3.12   0.51
     Dee (40.0%)        United States     9.90   1.53   0.49
      Éléonore              Canada        1.36  10.95   0.48
  Marigold (66.7%)      United States    30.39   0.42   0.42
  El Morro (70.0%)          Chile        23.20   0.40   0.30
 San Nicolas (21.0%)        Mexico       19.26   0.46   0.28
        Wharf           United States     8.60   0.87   0.24
     Musselwhite            Canada        0.46   5.63   0.08
      El Sauzal             Mexico        2.15   1.11   0.08
Peñasquito Heap Leach       Mexico       25.45   0.07   0.06
       Marlin             Guatemala       0.46   2.71   0.04
               TOTAL GOLD                             25.9
                 SILVER                    Mt   Ag g/t  Moz
   Peñasquito Mill          Mexico       576.98 13.41  248.72
     Camino Rojo            Mexico       23.14  14.94  11.11
     Noche Buena            Mexico       71.75  14.06  32.44
Pueblo Viejo (40.0%)  Dominican Republic 80.78  11.93  30.99
 San Nicolas (21.0%)        Mexico       19.26  26.70  16.53
      Los Filos             Mexico       71.02   7.00  15.97
    Cerro Blanco          Guatemala       2.52  72.00   5.83
     Cerro Negro          Argentina       5.12  22.95   3.78
Peñasquito Heap Leach       Mexico       25.45   4.31   3.52
     Dee (40.0%)        United States     9.90   7.42   2.36
       Marlin             Guatemala       0.46  102.36  1.50
        Wharf           United States     8.60   4.62   1.28
              TOTAL SILVER                           374.04
                 COPPER                    Mt    % Cu   Mlbs
 San Nicolas (21.0%)        Mexico       19.26   1.24   527
  El Morro (70.0%)          Chile        23.20   0.52   264
Pueblo Viejo (40.0%)  Dominican Republic 80.78   0.09   164
              TOTAL COPPER                            955
                  LEAD                     Mt    % Pb   Mlbs
   Peñasquito Mill          Mexico       576.98  0.13  1,700
     Camino Rojo            Mexico       23.14   0.17    89
               TOTAL LEAD                            1,789
                  ZINC                     Mt    % Zn   Mlbs
   Peñasquito Mill          Mexico       576.98  0.35  4,493
 San Nicolas (21.0%)        Mexico       19.26   1.68   713
     Camino Rojo            Mexico       23.14   0.37   189
               TOTAL ZINC                            5,395

 



                        GOLDCORP INC.
           INFERRED RESOURCES^(1),(2),(3),(4),(6)
                   AS OF DECEMBER 31, 2012

                Based on attributable ounces
                  GOLD                     Mt   Au g/t  Moz
      Los Filos             Mexico       236.18  0.84   6.49
  El Morro (70.0%)          Chile        472.19  0.25   3.85
      Éléonore              Canada       12.25  10.60   4.17
      Cochenour             Canada        9.05  11.18   3.25
      Red Lake              Canada        3.19  16.11   1.65
      Porcupine             Canada       18.85   1.95   1.18
     Musselwhite            Canada        4.99   5.72   0.92
   Peñasquito Mill          Mexico       126.63  0.20   0.83
     Cerro Negro          Argentina       5.32   4.81   0.82
  Marigold (66.7%)      United States    54.17   0.43   0.74
    Cerro Blanco          Guatemala       1.35  15.31   0.67
Pueblo Viejo (40.0%)  Dominican Republic  6.57   2.18   0.46
Peñasquito Heap Leach       Mexico       50.66   0.17   0.28
     Dee (40.0%)        United States    17.01   0.51   0.28
     Noche Buena            Mexico       17.67   0.42   0.24
       Marlin             Guatemala       0.44   4.51   0.06
 San Nicolas (21.0%)        Mexico        2.28   0.26   0.02
     Camino Rojo            Mexico        0.64   0.27   0.01
      El Sauzal             Mexico        0.04   1.35   0.00
               TOTAL GOLD                            25.93
                 SILVER                    Mt   Ag g/t  Moz
      Los Filos             Mexico       239.18  6.04  46.47
   Peñasquito Mill          Mexico       126.63  9.13  37.17
     Noche Buena            Mexico       17.67  13.92   7.91
     Cerro Negro          Argentina       5.32  34.35   5.87
Pueblo Viejo (40.0%)  Dominican Republic  6.57  14.32   3.02
       Marlin             Guatemala       0.44  210.78  3.01
Peñasquito Heap Leach       Mexico       50.66   1.61   2.62
    Cerro Blanco          Guatemala       1.35  59.60   2.59
     Dee (40.0%)        United States    17.01   2.38   1.30
 San Nicolas (21.0%)        Mexico        2.28  17.40   1.27
     Camino Rojo            Mexico        0.64   4.53   0.09
              TOTAL SILVER                           111.33
                 COPPER                    Mt    % Cu   Mlbs
  El Morro (70.0%)          Chile        472.19  0.35  3,689
 San Nicolas (21.0%)        Mexico        2.28   1.24    62
Pueblo Viejo (40.0%)  Dominican Republic  6.57   0.07    11
              TOTAL COPPER                           3,762
                  LEAD                     Mt    % Pb   Mlbs
   Peñasquito Mill          Mexico       126.63  0.14   382
     Camino Rojo            Mexico        0.64   0.08    1
               TOTAL LEAD                             384
                  ZINC                     Mt    % Zn   Mlbs
   Peñasquito Mill          Mexico       126.63  0.26   736
 San Nicolas (21.0%)        Mexico        2.28   0.97    49
     Camino Rojo            Mexico        0.64   0.25    4
               TOTAL ZINC                             788

*Numbers may not add up due to rounding

Goldcorp December 31, 2012 Reserve and Resource Reporting Notes:

1  All Mineral Reserves and Mineral Resources have been calculated in
    accordance with the standards of the Canadian Institute of Mining,
    Metallurgy and Petroleum and National Instrument 43-101, or the AusIMM
    JORC equivalent.
2  All Mineral Resources are reported exclusive of Mineral Reserves.
3  Mineral Resources which are not Mineral Reserves do not have demonstrated
    economic viability.
4  Reserves and Resources are reported as of December 31, 2012, with the
    following conditions or exceptions:
      1 Reserves and Resources for Pueblo Viejo are as per information
          provided by Barrick Gold Corporation.
      2 Reserves and Resources for Dee are as per information provided by
          Barrick Gold Corporation.
      3 Resources for San Nicolas are as per information provided by Teck
          Resources Limited (2012 Study).
5  Mineral Reserves are estimated using appropriate recovery rates and US$
    commodity prices of $1,350 per ounce of gold, $24 per ounce of silver,
    $3.00 per pound of copper, $0.80 per pound of lead, and $0.85 per pound of
    zinc, unless otherwise noted below:
      1 Alumbrera             $1,400/oz gold and $3.20/lb copper
      2 Pueblo Viejo, Dee     $1,500/oz gold, $28/oz silver, $3.00/lb copper
6  Mineral Resources are estimated using US$ commodity prices of $1,500 per
    ounce of gold, $27 per ounce of silver, $3.50 per pound of copper, $0.95
    per pound of lead, and $0.95 per pound of zinc, unless otherwise noted
    below;
      1 Pueblo Viejo, Dee     $1,650/oz gold, $30/oz silver, $3.50/lb copper
      2 San Nicolas           $1,000/oz gold, $16.00/oz silver, $2.70/lb
                                copper, $1.00/lb zinc

Cautionary Note to United States  Investors Concerning Estimates of  Measured, 
Indicated and Inferred Resources:
These tables use the terms  "Measured", "Indicated" and "Inferred"  Resources. 
United States investors are advised that  while such terms are recognized  and 
required by Canadian  regulations, the United  States Securities and  Exchange 
Commission does not recognize them. "Inferred Mineral Resources" have a  great 
amount of uncertainty  as to  their existence, and  as to  their economic  and 
legal feasibility. It cannot be  assumed that all or  any part of an  Inferred 
Mineral Resource will ever  be upgraded to a  higher category. Under  Canadian 
rules, estimates  of Inferred  Mineral Resources  may not  form the  basis  of 
feasibility or other economic studies.  United States investors are  cautioned 
not to assume that all or any part of Measured or Indicated Mineral  Resources 
will ever be converted into Mineral Reserves. United States investors are also
cautioned not to assume that all or  any part of an Inferred Mineral  Resource 
exists, or is economically or legally mineable.

Scientific and  technical  information contained  in  this press  release  was 
reviewed and  approved  by  Maryse Belanger,  P.Geo.,  Senior  Vice-President, 
Technical Services  for  Goldcorp, and  a  "qualified person"  as  defined  by 
National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI
43-101").

Information on data verification performed on the mineral properties mentioned
in this press release that are considered to be material mineral properties to
the Company are contained  in the current NI  43-101 technical reports  listed 
below.

1   "Red Lake Gold Operation, Ontario, Canada NI 43-101 Technical Report"
      dated March 14, 2011, as amended March 30, 2011.
2   "Goldcorp Inc., Peñasquito Polymetallic Project, Zacatecas State, Mexico
      NI 43-101 Technical Report" dated March 21, 2011.
3   "Pueblo Viejo Gold Project, Dominican Republic Technical Report" dated
      March 29, 2011.
4   "Cerro Negro Gold Project, Santa Cruz Province, Argentina, NI 43-101
      Technical Report on Updated Feasibility Study" dated April 5, 2011.
5   "Éléonore Gold Project, Quebec, Canada NI 43-101 Technical Report" dated
      January 26, 2011.

The Company will be filing a technical report in respect of its Los Filos mine
within 45 days  of the  date of this  press release.  Information on  mineral 
resource and mineral reserve effective dates, and key assumptions,  parameters 
and methods used to estimate the  mineral resources and mineral reserves  with 
respect to the Company's material  mineral properties contained in this  press 
release are included in the above technical reports, except as otherwise noted
in this press release.

A conference call will  be held on  February 15, 2013 at  10:00 a.m. (PDT)  to 
discuss the fourth quarter and 2012 results. Participants may join the call by
dialing toll  free 1-800-355-4959  or 1-416-695-6617  for calls  from  outside 
Canada and the US. A recorded playback of the call can be accessed after  the 
event until March  17, 2013  by dialing 1-800-408-3053  or 1-905-694-9451  for 
calls outside Canada  and the US.  Pass code: 5331726.  A live and  archived 
audio webcast also be available at www.goldcorp.com.

(1)   Adjusted net earnings and adjusted net earnings per share are non-GAAP
      performance measures. The Company believes that, in addition to
      conventional measures prepared in accordance with GAAP, the Company and
      certain investors use this information to evaluate the Company's
     performance. Accordingly, it is intended to provide additional
      information and should not be considered in isolation or as a substitute
      for measures of performance prepared in accordance with GAAP. Refer to
      page 45 for a reconciliation of adjusted net earnings to reported net
      earnings attributable to shareholders of Goldcorp.
(2)   Operating cash flows before working capital changes and operating cash
      flows before working capital changes per share are non-GAAP performance
     measures which the Company believes provides additional information
      about the Company's ability to generate cash flows from its mining
      operations.
(3)   For 2013, the Company is adopting an "all-in sustaining cash cost"
      non-GAAP performance measure that the Company believes more fully
      defines the total costs associated with producing gold. All-in
      sustaining cash costs include by-product cash costs, sustaining capital,
      corporate general & administrative expenses, exploration expense and
      reclamation cost accretion. As the measure seeks to reflect the full
      cost of gold production from current operations, new project capital is
      not included in the calculation. Accordingly, it is intended to provide
      additional information and should not be considered in isolation or as a
      substitute for measures of performance prepared in accordance with GAAP.
      The Company reports this measure on a sales basis.
    
           All-in sustaining cash cost           2012
           Total cash costs (by-product) (page 43)            $702
           Corporate administration                           245
           Exploration and evaluation costs                     55
           Reclamation cost accretion                         16
           Sustaining capital expenditure                    1,028
           All-in sustaining cash costs                  $2,046
           Gold sales ounces                 2,340,600
           All-in sustaining cash costs per ounce             $874

      
(4)   The Company has included non-GAAP performance measures - total cash
      costs, by-product and co-product, per gold ounce, throughout this
      document. The Company reports total cash costs on a sales basis. In the
      gold mining industry, this is a common performance measure but does not
      have any standardized meaning. The Company follows the recommendations
      of the Gold Institute Production Cost Standard. The Company believes
     that, in addition to conventional measures prepared in accordance with
      GAAP, the Company and certain investors use this information to evaluate
      the Company's performance and ability to generate cash flow.
      Accordingly, it is intended to provide additional information and should
      not be considered in isolation or as a substitute for measures of
      performance prepared in accordance with GAAP. Total cash costs on a
      by-product basis are calculated by deducting by-product silver, copper,
      lead and zinc sales revenues from production costs.
     Commencing January 1, 2011, total cash costs on a co-product basis are
      calculated by allocating production costs to each co-product based on
     the ratio of actual sales volumes multiplied by budget metal prices as
      compared to realized sales prices. Prior period comparatives have been
      restated accordingly. The budget metal prices used in the calculation of
      co-product total cash costs were as follows:

                 2012       2011
     Gold       $1,600     $1,250
     Silver      34.00      20.00
     Copper       3.50       3.25
     Lead         0.90       0.90
     Zinc         0.90       0.90

(5)   Reserves per share is a non-GAAP performance measure.The Company
      believes that, in addition to conventional measures prepared in
      accordance with GAAP, the Company and certain investors use this
     information to evaluate the Company's performance. Accordingly, it is
      intended to provide additional information and should not be considered
      in isolation or as a substitute for measures of performance prepared in
      accordance with GAAP.
(6)   Based on first full five year average and gold and WTI oil price
     assumptions of $1,700/oz and $90/bbl, respectively. Does not include
      escalation for future inflation.

Goldcorp is one  of the  world's fastest  growing senior  gold producers.  Its 
low-cost gold production is located in safe jurisdictions in the Americas  and 
remains 100% unhedged.

Cautionary Note Regarding Forward Looking Statements

This press release contains  "forward-looking statements", within the  meaning 
of the United  States Private  Securities Litigation  Reform Act  of 1995  and 
applicable  Canadian   securities   legislation,  concerning   the   business, 
operations  and  financial   performance  and  condition   of  Goldcorp   Inc. 
("Goldcorp"). Forward-looking  statements include,  but  are not  limited  to, 
statements with respect to the future price of gold, silver, copper, lead  and 
zinc, the estimation  of mineral  reserves and resources,  the realization  of 
mineral  reserve  estimates,  the  timing  and  amount  of  estimated   future 
production, costs of production, capital expenditures, costs and timing of the
development of  new deposits,  success of  exploration activities,  permitting 
time  lines,   hedging  practices,   currency  exchange   rate   fluctuations, 
requirements  for  additional   capital,  government   regulation  of   mining 
operations, environmental  risks, unanticipated  reclamation expenses,  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 forward-looking terminology such as
"plans",  "expects",  "is  expected",  "budget",  "scheduled",   "estimates", 
"forecasts", "intends", "anticipates", "believes" or variations of such  words 
and phrases  or statements  that  certain actions,  events or  results  "may", 
"could", "would", "might" or "will be taken", "occur" or "be achieved" or  the 
negative connotation thereof.

Forward-looking statements are made based  upon certain assumptions and  other 
important  factors  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 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 resources  and metallurgical recoveries,  mining operational  and 
development  risks,  litigation  risks,  regulatory  restrictions   (including 
environmental  regulatory   restrictions   and   liability),   activities   by 
governmental   authorities   (including   changes   in   taxation),   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 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:  risks  related   to  the  integration   of 
acquisitions; 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; 
environmental risks; future  prices of  gold, silver, copper,  lead and  zinc; 
possible variations in ore reserves, grade or recovery rates; mine development
and operating risks; accidents, labour disputes and other risks of the  mining 
industry; delays in obtaining  governmental approvals or  financing or in  the 
completion  of  development  or  construction  activities;  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 annual information  form for the year  ended December 31, 2011   
available at  www.sedar.com.  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  dispositions, 
monetizations, mergers,  acquisitions, other  business combinations  or  other 
transactions 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  our   operating 
environment.  Goldcorp  does  not  undertake  to  update  any  forward-looking 
statements that  are included  in  this document,  except in  accordance  with 
applicable securities laws.

SUMMARIZED FINANCIAL RESULTS
(in millions of United States dollars, except per share amounts and where
noted)
                                                    Three Months Ended
                                                            December 31
                                                       2012         2011
Revenues                                              $1,435     $ 1,515
Gold produced (ounces)                               700,400      687,900
Gold sold (ounces)                                   645,100      685,000
Copper produced (thousands of pounds)                 25,400       18,500
Copper sold (thousands of pounds)                     33,300       23,100
Silver produced (ounces)                           7,158,600    8,688,200
Silver sold (ounces)                               6,312,800    8,153,400
Lead produced (thousands of pounds)                   29,200       46,100
Lead sold (thousands of pounds)                       23,700       40,200
Zinc produced (thousands of pounds)                   67,000       97,900
Zinc sold (thousands of pounds)                       73,600       78,400
Average realized gold price (per ounce)               $1,692       $1,663
Average London spot gold price (per ounce)            $1,722       $1,688
Average realized copper price (per pound)              $3.47        $3.70
Average London spot copper price (per pound)           $3.59        $3.40
Average realized silver price (per ounce)             $25.77       $26.28
Average London spot silver price (per ounce)          $32.68       $31.87
Average realized lead price (per ounce)                $0.96        $0.89
Average London spot lead price (per ounce)             $1.00        $0.90
Average realized zinc price (per ounce)                $0.86        $0.84
Average London spot zinc price (per ounce)             $0.88        $0.86
Total cash costs - by-product (per gold ounce)          $360         $261
Total cash costs - co-product (per gold ounce)          $621         $529
                                                                     
Production Data:                                                      
Red Lake gold mines :  Tonnes of ore milled          214,000      226,300
                      Average mill head grade                
                       (grams per tonne)                  26.67          22.18
                      Gold ounces produced          168,300      154,000
                      Total cash cost per                    
                       ounce - by-product                  $403           $374
Porcupine mines :      Tonnes of ore milled        1,084,100    1,074,200
                      Average mill head grade                
                       (grams per tonne)                   2.35           2.32
                      Gold ounces produced           74,100       74,700
                      Total cash cost per                    
                       ounce - by-product                  $750           $593
Musselwhite mine :     Tonnes of ore milled          324,600      341,300
                      Average mill head grade                
                       (grams per tonne)                   6.52           5.47
                      Gold ounces produced           64,000       56,800
                      Total cash cost per                    
                       ounce - by-product                  $693           $753
Peñasquito :           Tonnes of ore mined        12,480,000   12,034,400
                      Tonnes of waste removed    31,442,300   24,223,400
                      Tonnes of ore milled        9,087,200    8,617,000
                      Average head grade                     
                       (grams per tonne) -
                       gold                                0.55           0.44
                      Average head grade                     
                       (grams per tonne) -
                       silver                             24.41          28.68
                      Average head grade (%)                 
                       - lead                              0.23           0.35
                      Average head grade (%)                 
                       - zinc                              0.52           0.76
                      Gold ounces produced          112,900       82,300
                      Silver ounces produced      5,200,400    5,865,600
                      Lead (thousands of                     
                       pounds) produced                  29,200         46,100
                      Zinc (thousands of                     
                       pounds) produced                  67,000         97,900
                      Total cash cost per                    
                       ounce - by-product                   $17         ($447)
                      Total cash cost per                    
                       ounce - co-product                  $764           $768
Los Filos mine :       Tonnes of ore mined         8,319,900    7,124,100
                      Tonnes of waste removed    11,170,300    9,974,600
                      Tonnes of ore processed     8,424,800    7,228,000
                      Average grade processed                
                       (grams per tonne)                   0.70           0.75
                      Gold ounces produced           92,800       85,200
                      Total cash cost per                    
                       ounce - by-product                  $572           $503
El Sauzal mine :       Tonnes of ore mined           595,900      483,400
                      Tonnes of waste removed     2,774,400      981,500
                      Tonnes of ore milled          471,900      506,300
                      Average mill head grade                
                       (grams per tonne)                   1.51           1.80
                      Gold ounces produced           21,300       27,500
                      Total cash cost per                    
                       ounce - by-product                  $856           $535
Marlin mine :          Tonnes of ore milled          481,700      525,300
                      Average mill head grade                
                       (grams per tonne) -
                       gold                                3.27           7.96
                      Average mill head grade                
                       (grams per tonne) -
                       silver                               122            186
                      Gold ounces produced           49,500      130,700
                      Silver ounces produced      1,780,900    2,822,600
                      Total cash cost per                    
                       ounce - by-product                ($182)         ($337)
                      Total cash cost per                    
                       ounce - co-product                  $551           $275
Alumbrera mine : ^ (1) Tonnes of ore mined         2,936,600    3,023,700
                      Tonnes of waste removed     6,126,500    4,878,400
                      Tonnes of ore milled        3,915,500    3,528,500
                      Average mill head grade                
                       (grams per tonne) -
                       gold                                0.35           0.30
                      Average mill head grade                
                       (%) - copper                        0.34           0.30
                      Gold ounces produced           31,800       23,000
                      Copper (thousands of                   
                       pounds) produced                  25,400         18,500
                      Total cash cost per                    
                       ounce - by-product                ($894)           $508
                      Total cash cost per                    
                       ounce - co-product                  $692         $1,155
Marigold mine : ^ (2)  Tonnes of ore mined         2,396,800    1,946,000
                      Tonnes of waste removed     6,862,500    6,963,200
                      Tonnes of ore processed     2,396,800    1,946,000
                      Average grade processed                
                       (grams per tonne)                   0.65           0.58
                      Gold ounces produced           28,300       27,800
                      Total cash cost per                    
                       ounce - by-product                  $847           $799
Wharf mine :           Tonnes of ore mined         1,390,700      727,300
                      Tonnes of ore processed       751,200      689,500
                      Average grade processed                
                       (grams per tonne)                   0.77           0.97
                      Gold ounces produced           13,700       25,700
                      Total cash cost per                    
                       ounce - by-product                  $849           $523
                                                                      
Financial Data:                                                        
Net cash provided by operating activities               $787         $727
Net earnings attributable to shareholders of                  
Goldcorp Inc.                                              $504           $405
Net earnings per share - basic                         $0.62        $0.50
Adjusted net earnings per share - basic                $0.57        $0.66
Weighted average shares outstanding (000's)          811,394      809,829

(1)Shown at Goldcorp's interest - 37.5%
(2) Shown at Goldcorp's interest - 66.7%

                                                
CONSOLIDATED STATEMENTS OF EARNINGS
(In millions of United States dollars, except for per share amounts -
Unaudited)
                         
                              Three Months             Twelve Months
                            Ended December 31          Ended December 31
                           2012     2011       2012        2011
Revenues                $   1,435   $  1,515   $   5,435   $    5,362
Mine operating costs                                         
    Production costs     (667)     (619)    (2,337)     (2,042)
    Depreciation and                                     
     depletion              (175)      (189)       (675)         (694)
                        (842)    (808)    (3,012)    (2,736)
Earnings from mine                                        
operations                   593        707        2,423         2,626
Exploration and                                           
evaluation costs             (3)       (19)        (55)          (61)
Share of net (losses)                                     
earnings of associates      (16)       (86)          47          (98)
Corporate                                                 
administration               (57)       (57)        (245)        (229)
Earnings from                                             
operations and
associates                   517        545        2,170        2,238
Gains (losses) on                                         
disposition of
securities, net               3        (1)            4           319
Impairment of                                             
available-for-sale
securities                  (3)       (87)         (71)          (87)
Gains on derivatives,                                     
net                          126         87          155            82
Gains on dispositions                                     
of mining interests,
net                           12          -           12             -
Finance costs               (6)       (7)      (30)        (23)
Other income                  4        17         12          38
Earnings before taxes       653       554      2,252       2,567
Income taxes               (149)     (149)      (503)       (686)
Net earnings                                               
attributable to
shareholders of
Goldcorp Inc.             $    504     $   405     $   1,749     $    1,881
Net earnings per share                                        
    Basic               $   0.62   $   0.50   $    2.16   $     2.34
    Diluted                0.47      0.39       1.95        2.18

                                                      
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions of United States dollars - Unaudited)
                                                      
                                     Three Months         Twelve Months
                                    Ended December 31       Ended December 31
                                  2012     2011     2012     2011
Net earnings                     $   504    $  405   $ 1,749   $ 1,881
Other comprehensive (loss)                                   
income, net of tax                                                     
 Mark-to-market losses on                                   
  available-for-sale securities       (5)         (8)       (52)      (199)
 Reclassification adjustment                                
  for impairment losses
  included in net earnings              2          75         63         76
 Reclassification adjustment                                
  for realized gain on
  disposition of
  available-for-sale securities
  recognized in net earnings          (2)          1        (3)      (294)
                                   (5)       68        8    (417)
Total comprehensive income                  $                 
attributable to shareholders of
Goldcorp Inc.                      $  499         473     $ 1,757     $ 1,464

                                    
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions of United States dollars - Unaudited)
                                      
                              Three Months Ended     Twelve Months Ended
                                  December 31                December 31
                              2012     2011      2012       2011
Operating Activities                                           
Net earnings                 $   504   $   405   $   1,749   $   1,881
Adjustments for:                                               
Reclamation expenditures         (4)     (5)       (21)      (23)
(Gains) losses on                                           
disposition of
securities, net                  (3)           1         (4)        (319)
Gains on dispositions of                                    
mining interests, net            (12)          -         (12)           -
Items not affecting cash:                                      
 Depreciation and                                          
  depletion                       175         189          675          694
 Share of net losses                                       
  (earnings) of
  associates                       16          86         (47)           98
 Share-based                                               
  compensation expense            10         23           82          100
 Impairment of                                             
  available-for-sale
  securities                       3         87           71           87
 Realized gain on share                                    
  purchase warrants, net            -          -            -         (33)
 Unrealized gains on                                       
  derivatives, net             (128)        (81)        (155)         (61)
 Revisions in estimates                                    
  and accretion of
  reclamation and closure
  cost obligations                87          55           99           35
 Deferred income tax                                       
  expense (recovery)               76          70         (32)          213
 Other                          (3)        1          3         20
Change in working capital        66    (104)      (311)      (326)
Net cash provided by                                        
operating activities              787         727       2,097        2,366
Investing Activities                                           
Expenditures on mining                                      
interests                       (636)       (460)      (2,333)      (1,677)
Deposits on mining                                          
interests expenditures           (83)        (62)        (275)        (101)
Interest paid                      -        -       (17)      (17)
Return of capital                                           
investment in Pueblo
Viejo                               -           -            -           64
Proceeds from                                               
dispositions of mining
interests, net                     43           -           43           -
Purchase of securities                                      
and other investments             (2)       (353)         (19)        (507)
Proceeds from sale of                                       
securities and other
investments, net                    6         216          289          735
Other                              3        1         16        (5)
Net cash used in                                            
investing activities of
continuing operations          (669)       (658)      (2,296)      (1,508)
Net cash provided by                                        
(used in) investing
activities of
discontinued operations            5          30          10         (58)
Financing Activities                                           
Common shares issued, net                                   
of issue costs                     12           7           44          477
Dividends paid to                                           
shareholders                    (110)        (91)        (438)        (330)
Net cash (used in)                                          
provided by financing
activities                       (98)        (84)        (394)          147
Effect of exchange rate                                     
changes on cash and cash
equivalents                       (1)          11          (1)          (1)
Increase (decrease) in                                      
cash and cash equivalents         24          26        (584)          946
Cash and cash                                               
equivalents, beginning of
period                            894       1,476        1,502          556
Cash and cash                           $                    
equivalents, end of
period                        $   918       1,502     $     918     $   1,502

                                                        
CONSOLIDATED BALANCE SHEETS
(In millions of United States dollars - Unaudited)
                                                        
                                        At December 31     At December 31
                                                    2012                2011
Assets                                                                
Current assets                                                        
  Cash and cash equivalents           $            918   $          1,502
  Accounts receivable                             713               473
  Inventories and stockpiled ore                  722               574
  Notes receivable                                  5                40
  Other                                           170               361
                                                2,528             2,950
Mining interests                                                      
  Owned by subsidiaries                        24,279            22,673
  Investments in associates                     2,088             1,536
                                               26,367            24,209
Goodwill                                         1,737             1,737
Investments in securities                          162               207
Note receivable                                     37                42
Deposits on mining interests                             
expenditures                                          95                  73
Other                                              286               156
Total assets                                    31,212            29,374
Liabilities                                                           
Current liabilities                                                   
  Accounts payable and accrued                          
   liabilities                           $            886     $            619
  Income taxes payable                            151                48
  Derivative liabilities                           68                65
  Other                                            70                39
                                                1,175               771
Deferred income taxes                            5,542             5,560
Long-term debt                                     783               737
Derivative liabilities                              79               237
Provisions                                         518               375
Income taxes payable                                62               113
Other                                              124                96
Total liabilities                                8,283             7,889
Equity                                                                
Shareholders' equity                                                  
  Common shares, stock options and                      
   restricted share units                         17,117              16,992
  Investment revaluation reserve                   51                43
  Retained earnings                             5,548             4,237
                                               22,716            21,272
Non-controlling interests                         213               213
Total equity                                    22,929            21,485
Total liabilities and equity           $         31,212   $         29,374









SOURCE Goldcorp Inc.

Contact:

Jeff Wilhoit
Vice President, Investor Relations
Goldcorp Inc.
Telephone: (604) 696-3074
Fax: (604) 696-3001
E-mail:info@goldcorp.com
website:www.goldcorp.com