Agreement-in-principle announced on amendments to Pueblo Viejo Special Lease Agreement

 Agreement-in-principle announced on amendments to Pueblo Viejo Special Lease

PR Newswire

VANCOUVER, May 8, 2013

VANCOUVER, May 8, 2013 /PRNewswire/ - GOLDCORP INC. (TSX: G, NYSE: GG) —
announced that Barrick Gold Corporation ("Barrick") today reported that Pueblo
Viejo Dominicana Corporation ("PVDC") has reached an agreement in principle
with the Government of the Dominican Republic concerning amendments to the
Pueblo Viejo Special Lease Agreement (SLA). The Pueblo Viejo mine is operated
by PVDC, which is jointly owned by Goldcorp (40%) and Barrick (60%).

The  agreement  in  principle  comes   after  eight  months  of   constructive 
discussions between PVDC  and the  Government of the  Dominican Republic.  The 
agreement in principle preserves the economic value of the Pueblo Viejo  mine, 
while also addressing the fiscal objectives of the country, in a way that will
provide stability for both parties moving forward.

PVDC is one of the largest foreign investors in the Dominican Republic and  it 
is in the company's long-term interest  to support the economic stability  and 
development of the country, where Pueblo Viejo will be operating for the  next 
three decades.

If the proposed amendments are implemented and entered into force, revenues to
the Government of the Dominican Republic will be increased and brought forward
via a number of proposed changes. To achieve this objective, amendments to the
SLA, which will be  mutually agreed upon by  the parties, could include  items 
such as the following:

1.Elimination of a 10% return embedded in the initial capital investment for
    the purposes of the NPI;
2.An extension to the period over which PVDC will recover its capital
3.A delay of application of NPI deductions; and
4.A reduction in depreciation rates

A graduated minimum tax will  be established. The tax  will be adjusted up  or 
down based on metal prices.  The annual minimum tax  rate will be reset  every 
three years and will be  equivalent to 90% of the  taxes that would have  been 
payable to PVDC over  the same period. The  details for the implementation  of 
the minimum tax are to be mutually determined by the parties.

Based on  the  proposed  amendments,  it  is  anticipated  there  will  be  an 
approximate 50/50 split of the expected cash flows from the mine between  PVDC 
and the Government over the years 2013-2016. This would result in tax revenues
to the Government  of approximately $2.2  billion over this  period at a  gold 
price of $1,600 per ounce.

The economic  benefit of  these  changes over  the life  of  the mine  to  the 
Government of  the  Dominican  Republic is  approximately  $1.5  billion  (net 
present value at 5% discount rate and $1,600 gold price assumption).

The proposed agreement includes the following broad parameters consistent with
the SLA:

  *Corporate income tax rate of 25 percent
  *Net smelter royalty (NSR) of 3.2 percent
  *Net profits tax (NPI) of 28.75 percent

The proposed amendments are subject to negotiation of a Definitive  Agreement, 
which will require  the approval of  the Boards of  Directors of Goldcorp  and 
Barrick along with the project lenders. The Definitive Agreement will also be
subject to approval by the Congress  of the Dominican Republic. The SLA  will 
continue in full force  and effect according to  its present terms unless  and 
until the Definitive Agreement is fully executed and approved.

The Government of the Dominican Republic has also reiterated its commitment to
facilitating the timely granting of  permits and other requirements  necessary 
for ongoing operations at Pueblo Viejo.

Pueblo Viejo is a world-class, low-cost mine and is expected to contribute  an 
average of between 415,000  to 450,000 ounces of  gold per year to  Goldcorp's 
account in its first full five years of production. For 2013, gold  production 
is expected to be between 330,000 to 435,000 ounces to Goldcorp's account.

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, 2012   
available at  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.

SOURCE Goldcorp Inc.


Jeff Wilhoit
Vice President, Investor Relations
Goldcorp Inc.
Telephone: (604) 696-3074
Fax: (604) 696-3001
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