<<
    High-Speed Tram
    ---------------
    >>

Goldcorp has announced that a trade-off study has indicated that the construction of a high-speed tram to connect the Red Lake Gold Mines complex and the Cochenour (Bruce Channel) Mine complex is the favoured method to develop its Cochenour deposit. A portion of this tram may pass through, or in close proximity to, the joint venture project providing an excellent exploration platform. This tram will intersect several kilometres of some of the highest potential and untested geology along the main Red Lake "Mine Trend". The Red Lake Gold Mine is considered to be one of the world's richest gold mines with production of more than 18 million ounces of gold and nearly 10 million ounces of resources.

It is expected that the joint venture, of which Premier holds a 49% interest, will fund drill bays on the south side of the tram, that could be used to drill test high potential areas, and switches that could be built in the event of possible development of the Wilmar, West Granodiorite, and Bonanza deposits located on the Rahill-Bonanza Project.

"Once completed, this plan would open up several kilometres of highly prospective geology in one of the world's most prolific high-grade gold districts" stated Ewan Downie, President and Chief Executive Officer of Premier. "Given this huge area has seen little to no previous deep exploration drilling, we are excited by the opportunity to test a number of potential geologic targets."

To view Red Lake Gold Mines map please visit: http://files.newswire.ca/598/Red_Lake_Gold_Mines.pdf

    <<
    New Gold Horizon
    ----------------
    >>

Recent drilling performed by the joint venture that tested geological targets to the Bruce Channel Deposit (BCD), that is currently being developed by Goldcorp, has intersected high-grade gold in a new horizon as well as the depth and strike extension of the West Granodiorite Zone (WGZ) on the joint venture.

Drill hole PG09070 was drilled to a total depth of 1,040 metres and successfully intersected several gold-bearing zones including the WGZ and a new deep zone associated with an ultramafic rock unit. Highlights from this new hole include:

    <<
    -   Near-surface shear zones assayed 3.99 grams per tonne
        (g/t) gold (Au) across 1.0 metres (m) and 2.19g/t Au across 1.0m.


    -   The WGZ was intersected with assays of 2.15 g/t across 6.0 m
        including 6.85 g/t Au across 1.0 m.

    -   A new visible gold-bearing mineralized shear zone proximal to a key
        ultramafic rock unit returned a highlight assay of 11.44 g/t Au
        across 1.5m.
    >>

The mineralized zone has been discovered proximal to a Komatiitic Basalt (Ultramafic) rock unit with quartz-carbonate veining, and mineralization consisting of pyrite, arsenopyrite and visible gold. This geologic setting is similar to that at the Red Lake Gold Mines. This zone returned 6.78 g/t Au across 3.0m including 11.44g/t Au across 1.5m in an area that has seen almost no previous exploration and is open in all directions. This part of the joint venture Property has been previously tested by one drill hole, which also intersected gold in a similar setting. An aggressive winter drill program is being planned for 2010 to test this new horizon in addition to several other target areas on the Property including the WGZ and Bonanza Deposits that have excellent depth potential.

Recent work immediately north of the Rahill-Bonanza Project suggests that Goldcorp's Bruce Channel Deposit is hosted within a North-South fault structure that could cross onto the joint venture property. Hole PG09070 tested the northwestern portion of the Property, potentially along strike and up-dip from the projected location of the Bruce Channel Deposit. Drilling in 2010 from the ice will test this target area at depth.

The WGZ is a zone that could host significant bulk-tonnage, and/or high-grade style, gold resources south of the Cochenour mine workings. In the 1970's, the WGZ was successfully test mined on the 1300-foot Level with a grade of 3.45 g/t over widths of up to 21.3 metres. An earlier hole (PG09068A) that tested the depth potential of the WGZ also intersected high-grade gold mineralization with assays as high as 12.5 grams per tonne gold (g/t Au) across 4.5 metres (m) approximately 500 metres below the 1300 Foot Level and 250 metres below the intercept in PG09070 suggesting excellent expansion potential to this zone.

The Rahill-Bonanza joint venture property covers several kilometers of the prolific "Mine Horizon" between the Cochenour (Bruce Channel) complex to the west and the prolific RLGM complex to the east.

Pursuant to its press release dated November 4, 2009, Goldcorp discussed on its earnings conference call the Cochenour access plan. At Goldcorp's 100%-owned Cochenour deposit de-watering of the historic mine workings has started for the potential development of the Bruce Channel Deposit.

Premier remains one of the sectors most active exploration companies, with one of the largest exploration budgets in Canada. The Company will continue to define mineralization on multiple projects with approximately $20 Million to be spent over the next 15 months, an effort that is expected to result in at least one NI43-101 compliant gold resource estimate by year-end Exploration in Red Lake includes drilling on both the Rahill-Bonanza joint venture and the 100% held Lennie Project. These projects are host to some of the Red Lake District's most prospective targets.

Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. Core from Rahill-Bonanza is sent to Accurassay Laboratories, an accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.

Premier Gold Mines Limited is a well financed Canadian-based mineral exploration and development company with several projects and deposits in Northwestern Ontario and a joint venture in Mexico. In the Red Lake gold mining camp, two of these are operated in joint venture with Red Lake Gold Mines. The company active drill programs at its Hardrock Project and PQ North Project that is strategically located on the main Musselwhite Gold Mine trend.

    <<
    The Toronto Stock Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    >>

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

%SEDAR: 00024152E

SOURCE: Premier Gold Mines Limited

Ewan Downie, President, Phone: (807) 346-1390, Fax: (807) 346-0100, e-mail:
info@premiergoldmines.com, Web Site: www.premiergoldmines.com

- Gold production increased by 11% over the 2008 third quarter, to 621,100 ounces.

- Total cash costs(2) for the quarter were $295 per ounce on a by-product basis, and $297 per ounce year to date.

- Total cash costs(2) on a co-product basis were $384 per ounce compared to $380 per ounce year to date.

- Operating cash flows before changes in working capital(3) totaled $321.1 million or $0.44 per share, a 35% increase over the third quarter of 2008.

- Dividends paid amounted to $32.9 million.

- Penasquito concentrate production ramp-up on schedule; concentrate shipments commence.

- Full-year gold production guidance revised upward; cash cost guidance also improves.

"Consistent with our 2009 theme of execution throughout our operations, Goldcorp's gold production and cash costs were again very strong in the third quarter," said Chuck Jeannes, Goldcorp President and Chief Executive Officer. "Red Lake experienced an outstanding quarter, driven by excellent results in the High Grade zone and continued productivity enhancements. Also in Ontario, Porcupine's quarterly gold production was its best in almost three years. Marlin in Guatemala and Los Filos in Mexico were also important contributors to our quarterly results, with the Los Filos open pit operation achieving record quarterly gold production. We saw continued success among our next generation of growth drivers as well. At Penasquito, I am pleased to report that shipments of both lead and zinc concentrates began this week. Achieving this important milestone supports our continued confidence in the outlook for this world-class operation. Also advancing impressively is the Cochenour project in the Red Lake camp. Development will begin to accelerate, as a plan is now in place detailing the best way to access the deposit. Cochenour is a key component of our development plans in the prolific Red Lake district, and upon completion it will be an important contributor to our growth profile at Red Lake for many years to come."

"Our strong performance through the first nine months of the year has led us to revise our production guidance, to approximately 2.4 million gold ounces at a total cash cost of approximately $300 per ounce on a by-product basis and less than $400 per ounce on a co-product basis. Gold prices have exhibited continued strength and sustainability above $1,000 per ounce, and with our production and cash costs trending positively, the stage is set for continued strength in cash flow and profitability through the end of the year and beyond."

Financial Review

Gold sales in the third quarter compared to the third quarter of 2008, increased to 621,100 ounces at a total cash cost of $295 per ounce on a by-product basis, and $384 per ounce on a co-product basis. On both a by-product and co-product basis, Goldcorp remains the lowest cost, highest margin senior gold producer in the industry.

Adjusted net earnings(1) totaled $140.6 million, or $0.19 per share, compared to $64.7 million or $0.09 per share, in the third quarter of 2008. Adjusted net earnings primarily exclude the effect of a non-cash foreign exchange loss on revaluation of future income tax liabilities, but include the impact of non-cash stock option expenses, which amounted to approximately $0.02 per share for the quarter. Operating cash flow before non-cash working capital adjustments(3) increased 35% to $321.1 million compared to $237.3 million in last year's third quarter. Reported net earnings in the quarter were $114.2 million compared to net earnings of $297.2 million in the third quarter of 2008.

For the nine months ended September 30, 2009, revenues increased 7% to $1.9 billion, a result of increased realized gold prices and increased gold sales volumes. On a by-product basis, total cash costs were $297 per ounce compared to a total cash cost of $298 per ounce in 2008. Total cash costs on a co-product basis were $380 per ounce year to date versus $409 per ounce in the 2008 period.

For the first nine months of the year, adjusted net earnings(1) totaled $405.5 million, or $0.55 per share, compared to $312.6 million, or $0.44 per share, in 2008. Adjusted net earnings primarily exclude the effect of a non-cash foreign exchange loss on revaluation of future income tax liabilities and transaction costs for issuance of convertible debt. Adjusted net earnings for 2008 primarily exclude the effect of a non-cash foreign exchange gain on revaluation of future income tax liabilities, the first quarter gain on the sale of the Silver Wheaton shares, and an unrealized loss on securities. Net earnings in the nine months ended September 30, 2009 were $173.5 million or $0.24 per share, compared to net earnings of $517.5 million, or $0.73 per share, in 2008. Cash flow from operations before working capital changes(3) increased 24% to $872.6 million, or $1.19 per share, from $702.7 million, or $0.99 per share, in the nine months ended September 30, 2008.

Operations Review

Goldcorp's cornerstone asset delivered a strong performance in the third quarter. Gold production at Red Lake totalled 178,800 ounces at a total cash cost of $255 per ounce compared to gold production of 160,100 ounces at a total cash cost of $297 in the third quarter of 2008. Exploration drilling from the 4199 drift is advancing well with three drills off the platform: two drilling the High Grade zone and one drilling targets in the high-potential Party Wall area.

Also in the Red Lake district, dewatering of the Cochenour shaft continued in the third quarter with completion expected during the first quarter of 2010. The Company has completed a study to determine the best way to access and develop the Cochenour ore body. The study indicates that the best method of developing the Cochenour/Bruce Channel deposit is to enlarge and upgrade the existing Cochenour shaft and construct a 5 kilometer high speed tram on the 5400 Level connecting to the Red Lake mine. This will enable the Bruce Channel deposit ore to be hauled directly to the Red Lake mine and processed at the existing mill facility. Preparatory work for the haulage drift project has commenced.

A 31% increase in gold production at Porcupine in Ontario over the 2008 third quarter highlights the strong pattern of sequential improvement over the last year. Gold production at Porcupine totalled 90,600 ounces-its best performance in almost three years-while cash costs fell to $406 per ounce. Grade continued to improve through mining in higher grade stopes and through the development of the new higher grade VAZ zone.

At Los Filos, gold production was 60,200 ounces, driven by its best performance yet in the open pit operations. El Sauzal's production of 45,500 ounces was in line with the forecast production decrease consistent with its declining mine life. At San Dimas, higher grades in the Roberta, Robertita and Marina veins drove a strong improvement in production versus the prior year third quarter. Gold production was 27,500 ounces in the third quarter at a total cash cost of $313 per ounce. At the Marlin mine in Guatemala, quarterly gold and silver production increased both from the second quarter of 2009 and the year-ago quarter, with production of 68,800 ounces of gold and 1,083,200 ounces of silver. These production increases were largely attributable to process enhancements leading to both gold and silver recovery improvements.

Project Update

Positive exploration drilling continued at Eleonore in Quebec. Strong assay results in the deep mineralized zone to the north continued to support ongoing work on an internal prefeasibility study planned for the end of 2009. The study is evaluating the best options for accessing the deep high grade in the north while simultaneously ramping up gold production from the Roberto Zone. Environmental and social impact assessment work is continuing.

In the Dominican Republic, development of the Pueblo Viejo project continued to track on budget and on schedule for initial gold production in the fourth quarter of 2011. Construction of the autoclave and related structures is now well advanced, and the mills have now arrived in the Dominican Republic. Goldcorp's 40% share of gold production in the first five full years of the mine's life is expected to average approximately 400,000 ounces at total cash costs of between $275 and $300 per ounce. Goldcorp's share of proven and probable gold reserves at Pueblo Viejo amounts to nearly 9 million ounces.

Penasquito Update

Since achieving mechanical completion during the third quarter, full commissioning of the first sulphide process line (Line 1) has steadily advanced at Penasquito. On November 2nd, the Company began dispatching the first lead and zinc concentrates from the mine site. The initial lead concentrate shipments are being sold to Industrias Penoles' Met-Mex subsidiary in Torreon, Mexico, while initial zinc concentrates are being trucked to the port of Manzanillo in preparation for shipment to Korea Zinc Co. Ltd. Preliminary metals grades, recoveries and concentrate quality have met or exceeded expectations.

Construction of the second sulphide process line (Line 2) is well underway and progressing toward planned start-up in the third quarter of 2010. Completion of construction of the high pressure grinding rolls circuit is expected in the fourth quarter of 2010, allowing for a ramp-up to the mill's full 130,000 tonnes per day capacity in early 2011. For the latest photographs from the site, please visit www.goldcorp.com and click on Operations/Penasquito. Mining activities continue to provide sulphide ore for the start-up of the Line 1 plant with rates in excess of 500,000 tonnes per day. Initial pre-stripping has uncovered more sulphide ore than was modeled, and the resulting ore stockpile has added a significant degree of ore feed flexibility. At September 30, 2009, 6.2 million tonnes of ore were stockpiled and an additional 2 million tonnes were exposed in the pit and available for mining.

"The rate of progress we continue to make at Penasquito remains consistent with our ramp-up schedule," added Jeannes. "The team there continues to exceed our expectations as the transition from project to world-class mine remains well on track. This ongoing success supports our expectation that Penasquito will contribute to our five-year 50% growth profile just as we anticipated. Upon completion of the updated Penasquito mine plan, the data will be integrated into our 2010 corporate budget and specific full-year expectations disclosed in January 2010."

Corporate Social Responsibility Update

During the third quarter, Marlin mine in Guatemala became Goldcorp's third gold mine to be fully certified under the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold. Marlin's achievement makes it the first mine in Central America to be so certified, following Marigold mine as the first-ever gold mining operation to be certified and El Sauzal as the first-ever mine in Mexico to be certified. Goldcorp is an industry leader in its commitment to the safe handling and use of cyanide in applicable mining operations.

2009 Outlook

In light of continued strength in production at many of its key gold mines, the Company today revised operating guidance for the 2009 year. Gold production guidance has been increased from 2.3 million ounces to approximately 2.4 million ounces. Guidance on total cash costs has also changed in light of the Company's stronger operating performance. Total cash costs for 2009 are now expected to be approximately $300 per ounce of gold on a by-product basis compared to previous guidance of $365 per ounce. On a co-product basis, total cash costs are now expected to be less than $400 per ounce compared to previous guidance of $400 per ounce. Price assumptions used in the calculation of these new estimates for the fourth quarter are $15 silver, $2.75 copper, $75 per barrel oil, and US Dollar exchange rates of $1.10 Canadian Dollars and $12.50 Mexican pesos.

This release should be read in conjunction with Goldcorp's third quarter 2009 unaudited MD&A report on the Company's website, www.goldcorp.com, in the "Investors" section under "Financials".

A conference call will be held on November 5, 2009 at 10:00 a.m. (PDT) to discuss the third quarter results. Participants may join the call by dialing toll free 888-300-0053 or 647-427-3420 for calls from outside Canada and the US. A recorded playback of the call can be accessed after the event until December 5, 2009 by dialing 800-642-1687 or 706-645-9291 for calls outside Canada and the US. Passcode: 34518604. A live and archived audio webcast will also be available at www.goldcorp.com.

Goldcorp is the lowest-cost and fastest growing multi-million ounce gold producer with operations throughout the Americas. Its gold production remains 100% unhedged.

(1) Adjusted net earnings is a non-GAAP measure. The Company believes that, in addition to conventional measures prepared in accordance with GAAP, the Company and certain investors use this information to evaluate the Company's performance. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Refer to page 34 of the 2009 third quarter MD&A for a reconciliation of adjusted earnings to reported net earnings.

(2) The Company has included a non-GAAP performance measure, total cash cost per gold ounce, throughout this document. The Company reports total cash costs on a sales basis. In the gold mining industry, this is a common performance measure but does not have any standardized meaning, and is a non-GAAP measure. The Company follows the recommendations of the Gold Institute standard. The Company believes that, in addition to conventional measures, prepared in accordance with GAAP, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Refer to page 33 of the 2009 third quarter MD&A for a reconciliation of total cash costs to reported operating expenses.

(3) Operating cash flows before working capital changes and operating cash flows before working capital changes per share are non-GAAP measures which the Company believes provides a better indicator of the Company's ability to generate cash flow from its mining operations. Cash provided by operating activities reported in accordance with GAAP was $341.9 million and $903.7 million, respectively for the three months and nine months ended September 30, 2009.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Goldcorp Inc. ("Goldcorp"). Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver, copper, lead and zinc, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldcorp to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, silver, copper, lead and zinc; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes; delays in obtaining governmental approvals or financing or in the completion of development or construction activities and other risks of the mining industry, as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in Goldcorp's annual information form for the year ended December 31, 2008 available at www.sedar.com.

Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Goldcorp does not undertake to update any forward-looking statements that are included in this document, except in accordance with applicable securities laws.

FINANCIAL STATEMENTS TO FOLLOW

SUMMARIZED FINANCIAL AND OPERATIONAL HIGHLIGHTS
(in millions of United States dollars, except per share and per ounce
 amounts)
                                                         Three Months Ended
                                                               September 30
                                                           2009        2008
---------------------------------------------------------------------------
Gold produced (ounces)                                  621,100     557,400
Gold sold (ounces)                                      601,500     550,500
Copper produced (thousands of pounds)                    22,700      28,600
Copper sold (thousands of pounds)                        24,300      26,400
Silver produced (ounces)                              2,975,000   2,267,600
Silver sold (ounces)                                  2,386,900   1,722,000
Average realized gold price (per ounce)              $      968  $      865
Average London spot gold price (per ounce)           $      960  $      872
Average realized copper price (per pound)            $     3.63  $     2.48Average London spot copper price (per pound)         $     2.65  $     3.49
Average realized silver price (per ounce)            $     9.30  $     7.64
Average London spot silver price (per ounce)         $     4.69  $    15.09
Total cash costs - by-product (per gold ounce)       $      295  $      346
Total cash costs - co-product (per gold ounce)       $      384  $      398
---------------------------------------------------------------------------
Production Data:
Red Lake gold mines: Tonnes of ore milled               194,400     198,800
                     Average mill head grade
                      (grams per tonne)                      30          26
                     Gold ounces produced               178,800     160,100
                     Total cash cost per ounce
                      - by product                   $      255  $      297
Porcupine mine:      Tonnes of ore milled             1,013,900     921,700
                     Average mill head grade
                      (grams per tonne)                    2.90        2.64
                     Gold ounces produced                90,600      69,000
                     Total cash cost per ounce
                      - by product                   $      406  $      583
Musselwhite mine:    Tonnes of ore milled               291,800     316,600
                     Average mill head grade
                      (grams per tonne)                    5.51        5.60
                     Gold ounces produced                49,800      52,300
                     Total cash cost per ounce
                      - by product                   $      737  $      597
San Dimas mine:      Tonnes of ore milled               170,800     161,300
                     Average mill head grade
                      (grams per tonne) - gold             5.13        3.78
                     Average mill head grade
                     (grams per tonne) - silver             237         234
                     Gold ounces produced                27,500      19,000
                     Silver ounces produced           1,231,800   1,132,600
                     Total cash cost per ounce
                      - by product                   $      313  $      436
                     Total cash cost per ounce
                      - co product                   $      313  $      436
Los Filos mine:      Tonnes of ore mined              6,040,000   5,361,300
                     Tonnes of waste removed          7,062,100   5,694,900
                     Tonnes of ore processed          6,135,200   5,429,300
                     Average grade processed
                      (grams per tonne)                    0.63        0.61
                     Gold ounces produced                60,200      47,400
                     Total cash cost per ounce
                      - by product                          455         391
El Sauzal mine:      Tonnes of ore mined                586,400     630,200
                     Tonnes of waste removed          1,110,100     990,800
                     Tonnes of ore milled               530,600     524,400
                     Average mill head grade
                      (grams per tonne)                    2.86        4.75
                     Gold ounces produced                45,500      76,200
                     Total cash cost per ounce
                      - by product                   $      220  $      147
Marlin mine:         Tonnes of ore milled               536,300     387,700
                     Average mill head grade
                      (grams per tonne) - gold             4.29        4.86
                     Average mill head grade
                      (grams per tonne) - silver             92          98
                     Gold ounces produced                68,800      51,000
                     Silver ounces produced           1,083,200     699,600
                     Total cash cost per ounce
                      - by product                   $      185  $      304
                     Total cash cost per ounce
                      - co product                   $      347  $      400
Alumbrera mine:      Tonnes of ore mined              2,301,800   3,960,500
                     Tonnes of waste removed          5,491,700   6,562,100
                     Tonned of ore milled             3,424,100   3,361,900
                     Average mill head grade
                      (grams per tonne) - gold             0.39        0.44
                     Average mill head grade (%)
                      - copper                             0.38        0.46
                     Gold ounces produced                29,500      34,400
                     Copper (thousands of pounds)
                      produced                           22,700      28,600
                     Total cash cost per ounce
                      - by product                   $     (823) $     (112)
                     Total cash cost per ounce
                      - co product                   $      475  $      511
Marigold mine:       Tonnes of ore mined              2,624,200   1,514,500
                     Tonnes of waste removed          4,261,400   3,435,400
                     Tonnes of ore processed          2,624,200   1,514,500
                     Average grade processed
                      (grams per tonne)                    0.64        0.57
                     Gold ounces produced                29,900      21,800
                     Total cash per ounce
                      - by product                   $      542  $      693
Wharf mine:          Tonnes of ore mined                681,900     824,800
                     Tonnes of ore processed            804,500     906,500
                     Average grade processed
                      (grams per tonne)                    0.87        0.72
                     Gold ounces produced                17,300      15,900
                     Total cash per ounce -
                      by product                     $      665  $      408
---------------------------------------------------------------------------
Financial Data:
Cash flow from operating activities (before changes
 in non-cash working capital)                        $    321.1  $    237.3
Net earnings                                         $    114.2  $    297.2
Earnings per share - basic                           $     0.16  $     0.42
Adjusted net earnings per share - basic              $     0.19  $     0.09
Weighted average number of shares outstanding
 (000's)                                                731,815     713,718
---------------------------------------------------------------------------
CONSOLIDATED STATEMENTS OF EARNINGS
(US dollars in millions, except for share and per share amounts - Unaudited)
                                 Three Months Ended       Nine Months Ended
                                       September 30            September 30
                                   2009        2008        2009        2008
---------------------------------------------------------------------------
Revenues                     $    691.9  $    552.2  $  1,945.3  $  1,810.6
---------------------------------------------------------------------------
Operating expenses                303.4       279.1       865.5       856.5
Depreciation and depletion        130.7       122.8       384.8       353.9
---------------------------------------------------------------------------
Earnings from mine operations     257.8       150.3       695.0       600.2
---------------------------------------------------------------------------
Corporate administration (1)       31.2        33.5        96.7       100.0
Exploration                         8.7        17.4        23.3        45.2
---------------------------------------------------------------------------
Earnings from operations          217.9        99.4       575.0       455.0
---------------------------------------------------------------------------
Other income (expenses)
 Interest and other income
  (expenses)                       (0.6)        8.8        (5.6)       27.6
 Interest expense and finance
  fees                            (12.5)       (0.9)      (37.0)       (7.1)
 Share of income of equity
  investee                            -           -           -         3.9
 Gain (loss) on foreign
  exchange                        (28.1)      253.7      (237.7)       95.9
 Gain (loss) on non-hedge
  derivatives, net                 (0.4)       15.9         9.3       (16.4)
 Gain (loss) on securities,
  net                               5.2       (23.5)        5.6       (25.0)
 Gain on disposition of Silver
  Wheaton shares                      -           -           -       292.5
 Dilution gains (loss)                -         0.5        (0.7)        1.9
---------------------------------------------------------------------------
                                  (36.4)      254.5      (266.1)      373.3
Earnings before taxes and
 non-controlling interests        181.5       353.9       308.9       828.3
 Income and mining taxes          (67.9)      (57.2)     (136.5)     (302.4)
 Non-controlling interests          0.6         0.5         1.1        (8.4)
---------------------------------------------------------------------------
Net earnings                 $    114.2  $    297.2  $    173.5  $    517.5
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(1) Stock based compensation
 expense (non-cash item)
 included in corporate
 administration              $     12.7  $     11.0  $     34.6  $     30.7
Net earnings per share
 Basic                       $     0.16  $     0.42  $     0.24  $     0.73
 Diluted                     $     0.16  $     0.42  $     0.24  $     0.72
Weighted average number of
 shares outstanding (000's) Basic                          731,815     713,718     730,709     710,936
 Diluted                        735,808     717,913     734,066     715,415
CONSOLIDATED BALANCE SHEETS
(US dollars in millions - Unaudited)
                                                   September 30 December 31
                                                           2009        2008
---------------------------------------------------------------------------
Assets
 Cash and cash equivalents                           $    785.3  $    262.3
 Marketable securities                                     17.0        10.1
 Accounts receivable                                      209.0       178.6
 Income and mining taxes receivable                        50.7        15.6
 Future income and mining taxes                             4.5         3.3
 Inventories and stockpiled ore                           294.4       226.2
 Other                                                     67.9        66.2
---------------------------------------------------------------------------
Current assets                                          1,428.8       762.3
Mining interests                                       17,776.3    17,062.5
Deposits on mining interest expenditures                  168.0       229.3
Goodwill                                                  761.8       761.8
Stockpiled ore                                             93.5        92.6
Investments                                               369.7        71.9
Other                                                      26.2        28.4
---------------------------------------------------------------------------
                                                     $ 20,624.3  $ 19,008.8
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Liabilities
 Accounts payable and accrued liabilities            $    347.0  $    294.0
 Income and mining taxes payable                          203.2           -
 Future income and mining taxes                            74.5       181.5
 Current portion of long-term debt                         15.4           -
---------------------------------------------------------------------------
Current liabilities                                       640.1       475.5
Income and mining taxes payable                            10.4        28.0
Future income and mining taxes                          3,497.2     3,203.9
Long-term debt                                            712.2         5.3
Reclamation and closure cost obligations                  274.1       273.1
Other                                                      25.4        12.7
---------------------------------------------------------------------------
                                                        5,159.4     3,998.5
---------------------------------------------------------------------------
Non-controlling interests                                  49.7        51.2
---------------------------------------------------------------------------
Shareholders' Equity
Common shares, share purchase warrants, stock options
 and convertible senior notes                          12,878.4    12,625.2
Retained earnings                                       2,311.8     2,237.0
Accumulated other comprehensive income                    225.0        96.9
---------------------------------------------------------------------------
                                                        2,536.8     2,333.9
---------------------------------------------------------------------------
                                                       15,415.2    14,959.1
---------------------------------------------------------------------------
---------------------------------------------------------------------------
                                                     $ 20,624.3  $ 19,008.8
---------------------------------------------------------------------------
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CONSOLIDATED STATEMENTS OF CASH FLOWS
(US dollars in millions - Unaudited)
                                 Three Months Ended       Nine Months Ended
                                       September 30            September 30
                                   2009        2008        2009        2008
---------------------------------------------------------------------------
Operating Activities
Net earnings                 $    114.2  $    297.2  $    173.5  $    517.5
Reclamation expenditures           (8.2)       (6.5)      (18.9)      (15.0)
Items not affecting cash
 Depreciation and depletion       130.7       122.8       384.8       353.9
 Accretion on convertible
  senior notes                      6.8           -         8.8           -
 Stock based compensation
  expense                          12.7        11.0        34.6        30.7
 Share of income of equity
  investee                            -           -           -        (3.9)
 Unrealized loss (gain) on
  non-hedge derivatives             4.0       (22.5)       (2.8)       (8.8)
 Loss (gain) on securities,
  net                              (5.2)        0.6        (5.6)        1.6
 Gain on disposition of
  Silver  Wheaton shares              -           -           -      (292.5)
 Dilution loss (gains)                -        (0.5)        0.7        (1.9)
 Future income and mining
  taxes                            48.5        52.5        56.0       178.9
 Non-controlling interests         (0.6)       (0.5)       (1.1)        8.4
 Transaction costs on
  convertible senior notes
  expensed                            -           -        18.6           -
 Unrealized loss (gain) on
  foreign exchange and other       18.2      (216.8)      224.0       (66.2)
Change in non-cash working
 capital                           20.8       (20.2)       31.1       (84.6)
---------------------------------------------------------------------------
 Cash provided by operating
  activities                      341.9       217.1       903.7       618.1
---------------------------------------------------------------------------
Investing Activities
Acquisition of Gold Eagle,
 net of cash acquired                 -      (553.0)          -      (553.0)
Expenditures on mining
 interests                       (277.8)     (291.6)     (798.0)     (739.2)
Deposits on mining interest
 expenditures                     (54.1)      (47.3)     (239.7)     (222.0)
Proceeds from disposition of
 Silver Wheaton shares, net           -           -           -     1,505.1
Purchase of securities            (88.0)      (20.4)     (155.7)      (20.4)
Proceeds from sale of
 securities                           -         0.2           -         0.2
Other                                 -         1.0         1.6        (2.6)
---------------------------------------------------------------------------
 Cash used in investing
  activities                     (419.9)     (911.1)   (1,191.8)      (31.9)
---------------------------------------------------------------------------
Financing Activities
Debt borrowings                     1.8       156.1     1,330.9       156.1
Debt repayments                       -      (150.0)     (460.0)     (795.0)
Transaction costs on
 convertible senior notes             -           -       (22.8)          -
Common shares issued, net          28.8        14.9        61.0        94.7
Shares issued by subsidiaries
 to non-controlling interests         -         3.8           -         3.8
Dividends paid to common
 shareholders                     (32.9)      (32.1)      (98.7)      (96.0)
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 Cash provided by (used in)
  financing activities             (2.3)       (7.3)      810.4      (636.4)
---------------------------------------------------------------------------
Effect of exchange rate
 changes on cash and cash
 equivalents                       (0.4)       (5.6)        0.7        (6.7)
---------------------------------------------------------------------------
Increase (decrease) in cash
 and cash equivalents             (80.7)     (706.9)      523.0       (56.9)
Cash and cash equivalents,
 beginning of period              866.0     1,160.8       262.3       510.8
---------------------------------------------------------------------------
Cash and cash equivalents,
 end of period               $    785.3  $    453.9  $    785.3  $    453.9
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Contacts:
Goldcorp Inc.
Jeff Wilhoit
Vice President, Investor Relations
(604) 696-3074
(604) 696-3001 (FAX)
info@goldcorp.com
www.goldcorp.com

SOURCE: Goldcorp Inc.

mailto:info@goldcorp.com
http://www.goldcorp.com

Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". The Corporation is engaged in the identification, acquisition, exploration and development of mineral resource properties, and presently has mining interests in Ontario and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under the company's profile at www.sedar.com.

Investors are invited to visit www.agoracom.com/ir/MetalsCreekResources, the Metals Creek IR Hub, where they can post questions and receive answers or review messages already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to MEK@agoracom.com where they can also request to be added to the investor e-mail list in order to receive all future press releases and updates in real time.

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Contacts:
Metals Creek Resources Corp.
Alexander (Sandy) Stares
President and CEO
(709)-256-6060
(709)-256-6061 (FAX)
astares@metalscreek.com

SOURCE: Metals Creek Resources Corp.

mailto:astares@metalscreek.com

Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". The Corporation is engaged in the identification, acquisition, exploration and development of mineral resource properties, and presently has mining interests in Ontario and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under the company's profile at www.sedar.com.

Investors are invited to visit www.agoracom.com/ir/MetalsCreekResources, the Metals Creek IR Hub, where they can post questions and receive answers or review messages already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to MEK@agoracom.com where they can also request to be added to the investor e-mail list in order to receive all future press releases and updates in real time.

SOURCE: Metals Creek Resources Corp.

Metals Creek Resources Corp.
Alexander (Sandy) Stares
President and CEO
(709)-256-6060
(709)-256-6061 (FAX)
astares@metalscreek.com