VANCOUVER,
BRITISH COLUMBIA, November
15, 2006 - GOLDCORP
INC. announced that,
in connection with the acquisition
of Glamis Gold
Ltd., effective today, Ian
Telfer, former President
and Chief Executive Officer
of Goldcorp, has been appointed
Chairman of Goldcorp. Kevin
McArthur, former
President and Chief Executive
Officer of Glamis, has been
appointed a director,
President and Chief Executive
Officer of Goldcorp. Charles
Jeannes, former
Executive Vice President,
Administration, General Counsel
and Secretary of
Glamis, has been appointed
Executive Vice President
of Goldcorp. In addition,
Doug Holtby, former Chairman
of Goldcorp, has been appointed
Vice Chairman and
Lead Director.
Mr.
McArthur joined Glamis in
1988 where he served in a
variety of management
positions. Prior to joining
Glamis, Mr. McArthur was
with BP Minerals North
America and Homestake Mining
Company.
Mr.
Jeannes joined Glamis in
1999. Prior to joining Glamis,
Mr. Jeannes worked for
Placer Dome, most recently
as Vice President of Placer
Dome North
America.
Effective
today, the board of directors
of Goldcorp has been reconstituted
as previously
announced. Goldcorp would
like to take this opportunity
to thank each of the
departing Goldcorp directors,
David Beatty, Antonio Madero,
Donald Quick and
Michael Stein, for their
invaluable contributions
to the board of Goldcorp
and
its predecessor companies
over the years. Goldcorp
would also like to recognize
and thank outgoing Glamis
directors Jean Depatie, Ian
Davidson and Dale Corman
for their commitment and
contributions.
Goldcorp
is pleased to welcome its
newly appointed directors,
Kevin McArthur, A. Dan
Rovig, P. Randy Reifel and
Kenneth Williamson.
Mr.
Rovig
had served as a director
and Chairman of the Board
of Glamis since November
1998. Before his appointment
as Chairman, Mr. Rovig was
a director and the
President and Chief Executive
Officer of Glamis and its
subsidiaries from
November 1989 to August 1997
when he retired. Prior to
1988, Mr. Rovig was an
executive officer of British
Petroleum Ltd., including
its subsidiaries Amselco
Minerals Inc. and BP Minerals
America for five years.
Mr.
Reifel had been a director
on the Glamis Board since
June 2002 following the
acquisition of Francisco
Gold Corp. He had previously
served as President and a
director of Francisco Gold
Corp. since 1993, which was
responsible for both the
El Sauzal gold discovery
in Mexico and the Marlin
gold discovery in Guatemala.
Currently, he is President
and a director of Chesapeake
Gold Corp. that explores
for precious metals in Mexico
and Central America.
Mr.
Williamson had served on
the Glamis Board since 1999.
He was Vice Chairman,
Investment Banking at Midland
Walwyn/Merrill Lynch Canada
Inc. from 1993 to
1998. He has worked in the
securities industry for more
than 25 years,
concentrating on financial
services and the natural
resource industries in the
United States and Europe.
Mr. Williamson is a director
of a number of companies
in the natural resource sector.
Goldcorp
is one of the world’s lowest-cost and fastest
growing multi-million ounce
gold
producers with operations
throughout the Americas and
Australia.
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. Forward-looking
statements
include, but are not limited
to, statements with respect
to the future price of
gold, silver and copper,
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”
or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”,
or variations of such words
and phrases or state that
certain actions, events or
results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. Forward-looking statements
are subject to known and
unknown risks,
uncertainties and other 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; risks related
to joint venture operations;
actual results of current
exploration activities; actual
results of current
reclamation activities; conclusions
of economic evaluations;
changes in project
parameters as plans continue
to be refined; future prices
of gold, silver and
copper; possible variations
in ore reserves, grade or
recovery rates; failure of
plant, equipment or processes
to operate as anticipated;
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,
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, 2005,
available on
www.sedar.com, and Form 40-F
for the year ended December
31, 2005 on file with
the United States Securities
and Exchange Commission in
Washington, D.C.
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. Goldcorp
does not undertake to update
any forward-looking statements
that are
incorporated by reference
herein, except in accordance
with applicable
securities laws.
For
further information, please
contact:
Melanie
Pilon
Director,
Investor Relations
Goldcorp
Inc.
3400-666
Burrard Street
Vancouver,
British Columbia, V6C 2X8
Telephone:
(604) 696-3024
Fax:
(604) 696-3001
e-mail:
info@goldcorp.com
website:
www.goldcorp.com