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Goldcorp Achieves 2012 Forecasts, Updates Targets; Also Increases Annual Div, Declares First Monthly Div Payment for 2013

GOLDCORP INC. (G.TO) announced gold production and cash costs for 2012 and provided production and cash cost guidance for 2013 and the five-year period ending 2017.

Highlights

- Strong fourth quarter 2012 gold production totaling 696,700 ounces, with total 2012 gold production of 2.39 million ounces, within previous guidance.

- Forecast 2013 gold production to grow approximately 10% to between 2.55 and 2.80 million ounces.

- Forecast five-year gold production to increase to 4.0-4.2 million ounces by 2017.

- Forecast average five year by-product cash costs1 expected to remain below $500 per ounce.

- Dividend increases 11% to $0.60 per share.

- Adopting all-in sustaining cash cost1 reporting measure for 2013.

Goldcorp's year-end financial statements are scheduled to be released on February 14, 2013. The final calculation of operating costs has not yet been completed, but total cash costs for all of 2012 are expected to be approximately $315 per ounce of gold on a by-product basis and approximately $645 per ounce of gold on a co-product basis.

Meanwhile, Goldcorp also declared its first monthly dividend payment for 2013 of $0.05 per share. Shareholders of record at the close of business on Thursday, January 17, 2013 will be entitled to receive payment of this dividend on Friday, January 25, 2013. The payment reflects an increase of 11% to the annual dividend approved by Goldcorp's Board of Directors today. Goldcorp has increased its dividend by 233% since 2009.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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