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To: hotlinktuna who wrote (144660)	3/6/2006 10:14:41 AM
From: Skywatcher	Read Replies (2) \| Respond to of 208838

Goldcorp Inc.: Annual Earnings Increase 460% to $286 Million Sunday March 5, 8:00 am ET Record Fourth Quarter Earnings of $102 Million VANCOUVER, British Columbia--(BUSINESS WIRE)--March 5, 2006--(All figures are in US dollars unless stated otherwise) - Goldcorp Inc. (TSX:G - News; NYSE:GG - News) is pleased to announce its 2005 annual and fourth quarter results, highlights of which are: ADVERTISEMENT - Record net earnings of $286 million ($0.91 per share) for 2005, an increase of 460% compared with $51 million ($0.27 per share) in 2004. - Record fourth quarter net earnings of $102 million ($0.30 per share), compared to 2004 earnings of $15 million ($0.08 per share). - 2005 gold production increased to 1,136,300 ounces (2004 - 628,000 ounces) and gold sales more than tripled to 1,344,600 ounces at a total cash cost of $22 per ounce (2004- 427,600 ounces at $115 per ounce). - Fourth quarter gold sales of 307,300 ounces at a total cash cost of minus $73 per ounce, compared with 2004 sales of 113,800 ounces at a total cash cost of $127 per ounce. - Operating cash flows for the year increased to $466 million, or $1.48 per share (2004 - $53 million, or $0.28 per share). Operating cash flows for the fourth quarter were $137 million, or $0.40 per share (2004 - $22 million, or $0.12 per share). - Goldcorp will acquire certain Placer Dome assets from Barrick, and the Eleonore gold project in Quebec as a result of the transaction with Virginia Gold Mines; both of which are expected to close during April 2006. - Total gold production in 2006 from the combined Goldcorp and Placer assets on an annualized basis is expected to be approximately 2 million ounces at a total cash cost of less than $150 per ounce. Ian Telfer, President and Chief Executive Officer of Goldcorp, said, "The record breaking earnings and production results are indicative of the Company's ability to deliver value through successful acquisitions. With the expected acquisition of Placer's assets combined with organic growth, Goldcorp will remain the fastest growing, lowest cost multimillion ounce gold producer, with production expected to double from 2005 to 2007."