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Overview | Canada | United States | Mexico | Argentina | Dominican Republic | Guatemala | Chile | Statistical Summary of Operations | Environmental Sustainability and Community Development

Overview


Goldcorp Inc., headquartered in Vancouver, Canada, is a low-cost, growing senior gold producer with operations in North, Central and South America. In recent years milestones in the development of the Company have included the April 2005 merger of Wheaton River Minerals Ltd. and Goldcorp Inc. under the latter name, the May 2006 acquisition of interests in producing mines and a mine development project formerly held by Placer Dome Inc., and the November 2006 acquisition of Glamis Gold Ltd., bringing with it producing gold mines and properties slated for development into mines.

Goldcorp common shares are listed on the New York Stock Exchange under the symbol GG, and on the Toronto Stock Exchange under the symbol G.


Canada


The Red Lake Gold Mines property is located in northwestern Ontario, 180 kilometres north of Dryden and constitutes the richest gold mine in the world. The property is located in the Red Lake Greenstone Belt, which is situated in the western portion of the Archaean Uchi subprovince, a granite-greenstone sequence consisting of belts generally trending east-west. The sequence consists of a number of assemblages, the oldest of which, the Balmer assemblage, hosts the Red Lake mine complex.

The operation is comprised of two mining complexes, Red Lake and Campbell. The Red Lake Complex was Goldcorp's original operating business, acquired in 1989 through Goldcorp's acquisition of the well-known Dickenson Mines Limited. The Red Lake Complex contains three shafts, one serving 1 Level to 23 Level, a second connected shaft slightly to the south and serving 23 Level to 38 Level, and a third separate shaft. #1 and #2 shafts form a mine reaching a depth of 1,829 metres, while #3 shaft reaches a depth of 1,924 metres. The Campbell Complex contains two shafts, one having a depth of 1,316 metres, and the other slightly to the west with a depth of 1,819 metres. The Red Lake Complex and Campbell Complex process ore at separate mills. The Red Lake Complex mill consist of separate operations for processing the three types of gold which occur in the mine. Definition, delineation and exploration diamond drilling are ongoing at the property.

The acquisition of Gold Eagle Mines Ltd. in September 2008 gave the Company control of eight kilometres of strike length along the prolific Red Lake trend adjacent to the Red Lake mine and southwest of the Company's past-producing Cochenour-Willan mine. The acquisition includes a significant area of mineralization known as the Bruce Channel Discovery, which lies within the Balmer assemblage. To prepare for gold production, scheduled for late 2014, the Cochenour shaft is being widened and an underground drift is being constructed to take ore from Cochenour to the mill at the Campbell Complex.

In December 2007 the Company acquired Kinross Gold Corporation's 49% share of the Porcupine Joint Venture and 32% share of the Musselwhite Joint Venture in exchange for the Company's 50% interest in the La Coipa silver-gold mine in Chile and as a result holds 100% of both Porcupine and Musselwhite. Porcupine, within the Timmins, Ontario city limits, consists of the Hoyle Pond and Dome underground gold mines. Ore from both mines is processed at the Dome Mill. Additional drilling has extended the primary ore zone at the Hoyle Pond deposit. Musselwhite, 480 kilometres north of Thunder Bay, Ontario, consists of an underground gold mine and associated processing plant on traditional First Nation land. New discoveries and the projections of known mineralization structures have the potential to increase reserves at Musselwhite.

Goldcorp's acquisition of Virginia Gold Mines Ltd. in March 2006 brought with it the Éléonore Project, located approximately 320 kilometres north of Matagami in the James Bay region of Québec. Drilling has concentrated on exploring the deep north and south extensions of the mineral deposit and on following up previously-identified high-grade areas. An exploration shaft will be sunk to accommodate further deep drilling of the deposit.


United States


Goldcorp holds a two-thirds interest in the Marigold Mine in Humboldt County, Nevada at the north end of the Battle Mountain-Eureka Trend of central Nevada. The mine, a run-of-mine heap leach operation, began operations in 1988 and is expected to continue producing to 2017. In early 2007 the Marigold Mine was the first gold mine in the world to be fully certified under the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold, a voluntary industry program for companies using cyanide in gold production and developed under the auspices of the United Nations Environment Programme. In 2010 the Marigold Mine became the first mine in the world to be re-certified to the Code.

Also in Nevada is the South Arturo Project, in which Goldcorp has a 40% interest. The project is located 8 miles northwest of Barrick Gold Corporation's Goldstrike mining operation in Elko County and is located on the old Dee mine site on the northern Carlin Trend. Since the discovery of the South Arturo deposit via surface drilling at the old mine site in July 2005, infill drilling has continued and scoping level, environmental, engineering and metallurgical studies have been initiated.

The Wharf Mine property is situated in the Black Hills of South Dakota four miles west of the town of Lead. Gold was produced from a number of adjoining open pit operations and mine life has been extended through mid-2010 as the result of additional successful drilling on the property.


Mexico


The Los Filos Project is located in central Guerrero State of southern Mexico and began commercial production in January 2008. The project comprises the Los Filos and Bermejal deposits, which lie near the centre of a large circular-shaped feature named the Moreno-Guerrero Basin. Mineralization is associated with three diorite to granodiorite stocks which were emplaced in carbonate rocks of the Upper Cretaceous Morelos Formation. Both deposits have been developed as open pit mines. Crushed leach ore (higher grade ore) from the Los Filos deposit is processed by crushing, agglomeration and heap leaching. Run-of-mine heap leaching of ore from both the Los Filos and Bermejal deposits accounts for most of the ore processing. Gold and silver recovery takes place in a carbon adsorption-desorption-recovery plant.

Exploration activities at Los Filos focus on the 4P area in the west part of the intrusive. It is intended to develop the 4P area as an open pit mine which can be integrated with the existing operations.

The Peñasquito gold-silver-lead-zinc mine is located in northeastern Zacatecas State. The project area geology features Mesozoic sedimentary rocks intruded by Tertiary stocks. Two diatreme breccia pipes, which are believed to be related to stocks below the mine area, are the principal hosts for the gold-silver-lead-zinc mineralization. The project area has been developed as two open pits, Peñasco and Chile Colorado, and will become Mexico’s largest open pit mine, as well as one of the largest and lowest-cost precious metal mines in North America.

Oxide and mixed ores undergo heap leaching and then a Merrill-Crowe gold recovery process. A mill flotation plant processes sulphide ores to produce lead and zinc concentrates with gold and silver credits. First commercial production from the mine occurred in September 2010. Mine life is expected to be 22 years.

On the northern boundary of the Peñasquito concession is the Noche Buena advanced-stage gold-silver project. Continuing exploration of this project has the aim of extending the high-grade gold resources which have been identified so far.

The El Sauzal Mine is located 447 kilometers southwest of the city of Chihuahua in Chihuahua State. The mine, a conventional open pit operation with gold recovery through a carbon-in-leach (CIL) circuit, began production in December 2004.

In February 2010 the Company acquired Canplats Resources Corporation and the latter’s Camino Rojo project 50 kilometers southeast of the Peñasquito mine. This 3,389-square kilometer land position includes the Represa Deposit, which has reported measured and indicated resources of 3,445,000 gold ounces and 60,708,000 silver ounces.


Argentina


Goldcorp holds a 37.5% interest in the Alumbrera Mine, which is located on a 600 hectare mining lease near Belen in northwestern Argentina, in a valley west of the easternmost range of the Andes Mountains. The Alumbrera deposit was emplaced in a late Miocene volcanic flow and breccia complex. Its mineralization-related dacite porphyries were intruded into the roots of the Farallón Negro volcano roughly 8 million years ago. Ore from the open pit operation is removed using standard truck and shovel techniques. A small proportion of gold is removed from the milled ore as free gold and upgraded to doré bullion, while most is processed into a gold-bearing concentrate. The concentrate is sent via a 316 kilometer pipeline through Catamarca and Tucuman provinces to a plant in Cruz del Norte, where the concentrate is dewatered and then shipped by rail to a port facility for sea transport to international markets.

The Cerro Negro advanced exploration project is located in the Province of Santa Cruz in southern Argentina. The project consists of gold and silver veins situated near the western edge of the Deseado Massif, a rigid crustal block covering 60,000 square kilometers in the region. Mineralization is structurally-controlled within a low sulphidation, epithermal system. Most veins will be developed as underground mines, while the Vein Zone will be developed as an open pit operation. The mine plant is expected to start up in mid-2013 and mine life is estimated at 12 years.


Dominican Republic


The Company holds a 40% interest in the Pueblo Viejo project in the central part of the Dominican Republic. The project area is hosted by the Lower Cretaceous Los Ranchos Formation, a series of volcanic and volcaniclastic rocks. The project deposits may have been derived from fluids supplied by a stock or other intrusive body deep underneath.

Pueblo Viejo consists of two main areas of mineralization, Monte Negro and Moore, which contain high-sulphidation epithermal gold and silver deposits. Mining of gold and silver on the property occurred from 1975 to 1999 but left the property's sulphide resource largely unexploited. Due to the number and complexity of ore types on the property, ore is being processed using a method consisting of pressure oxidation of the whole ore followed by cyanidation of gold and silver in a carbon-in-leach circuit. The significant amount of lime required in operations is being mined locally. First production at the mine was achieved in August 2012.


Guatemala


The Marlin gold-silver mine is located in the municipality of San Miguel Ixtahuacan in the western highlands of Guatemala. The Marlin deposit is connected to the Polochic fault system, part of a major transform fault which separates the North American and South American cratons, and was formed by Tertiary mafic volcanic eruptive events. The mine began production in December 2005. It consisted of both an open pit and an underground mining operation until early 2012, when the last high-grade ore in the open pit was mined. At this point the mine continued as an underground operation. Milling of mined ore results in a pulp which undergoes tank leaching with cyanide, then counter-current decantation to produce clear gold and silver bearing solutions from which the metals are recovered by precipitation.

Production prospects at the Marlin Mine have been enhanced by the discovery of a bonanza grade gold vein known as the Delmy vein, located within the existing mining area. Mining of this vein began in 2011 and is progressing. High-grade gold discoveries in the property’s West Vero zone are expected to go into production during the latter half of 2012.

In southwestern Guatemala the Cerro Blanco gold-silver project is expected to be developed into an underground mine. The Cerro Blanco deposit is an hot springs-style epithermal vein deposit primarily within Tertiary volcaniclastic sediments and welded tuff. Two drifts are being mined in the north and south ends of the deposit and will access the ore body.


Chile


Goldcorp holds a 70% interest in the El Morro copper-gold development project in north-central Chile, Atacama Region and is the operator of the project. The group of mineral properties which constitute the project total 417 square kilometres and cover the La Fortuna, El Negro and El Morro areas, three separate centres of porphyry-style copper-gold-molybdenum mineralization. A feasibility study has been completed on the La Fortuna area, a classic copper-gold porphyry deposit which contains all of the project’s reserves and resources thus far, and further work is being done in order to furnish information for a production decision. The El Morro area is underexplored. It is believed that further drilling there will demonstrate its potential to be on a scale similar to La Fortuna.


Statistical Summary of Operations


Environmental Sustainability and Community Development


Goldcorp's operations are designed to meet environmental standards adhered to in the leading gold and copper producing countries. Facilities are managed in such a way as to reduce environmental impacts, use energy, water and other resources efficiently, and minimize waste generation.

The large scale of the Company's operations has an impact on surrounding communities, and its operations play an important role in local, regional and national economies. The Company recognizes the significance of its presence and works with its communities in the areas of developing employment opportunities, improving community education and health facilities, developing other infrastructure, sponsoring and donating to a variety of community initiatives, and sourcing purchases where possible in local communities.


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