A new exploration company will be formed to hold current Canplats interests in early-stage exploration properties in Durango and Chihuahua states in Mexico. All the shares of this new company (other than a 9.9% equity interest to be retained by Goldcorp) will be distributed to Canplats shareholders. The transaction was expected to close in January 2010.

With the Peñasquito mine achieving operational status, Goldcorp has accelerated its regional exploration and development initiatives, Goldcorp President and CEO Chuck Jeannes said: “The Camino Rojo project will benefit from strong synergies with Peñasquito in the areas of human talent, infrastructure and stakeholder partnerships. In addition, our total land package in the district will now exceed 4,600 km2, providing an abundance of compelling exploration targets. Along with the steady advancement of our Noche Buena project located north of Peñasquito, we can envision a potential network of low-cost satellite operations that would contribute significantly to Peñasquito production over the long term.”