Red Lake Mines

GOLDCORP INC. reported third quarter gold production of 596,200 ounces and lower cash costs of production, leading to record operating cash flows before working capital changes of Can$470.6 million. Quarter Highlights includes; Revenues increased 28% over the 2009 third quarter, to Can$885.8 million, on gold sales of 568,100 ounces. The Company has reaffirmed 2010 production guidance of approximately 2.55 million ounces of gold. Cost performance Company-wide remains very strong, with total cash costs for the year now expected at below previous guidance of approximately Can$350 on a by-product basis and Can$450 on a co-product basis.

GOLDCORP INC. announced its Board of Directors has authorized an increase in the annual dividend to Can$0.36 per common share, an increase of 100%. A dividend of Can$0.03 per common share per month will be payable to shareholders of record as of November 12, 2010. The Company is also executing a plan to deliver 50% production growth over the next five years.

Gold production for the second quarter of 2010 of 159,000 ounces was 26%, or 33,300 ounces, more than in the second quarter of 2009 due to 14% higher grades and 11% higher tonnage. The higher tonnage was consistent with the 2010 mine plan which includes mining of additional material in the lower grade sulphide zones to utilize spare mill capacity. The higher grades were due to mining of higher grade ore from the High Grade zone.