OREANDA-NEWS. GOLDCORP INC. (TSX: G, NYSE: GG) is pleased to announce it has entered into an agreement to purchase New Gold Inc.'s ("New Gold") (TSX: NGD, NYSE: NGD) 30% interest in the El Morro copper-gold project in Chile.   Following the acquisition, Goldcorp will own 100% of the project.  Under the terms of the agreement, Goldcorp will pay New Gold$90 million in cash at closing and a 4% gold stream on future gold production from El Morro.  New Gold will make ongoing payments of $400 per ounce of gold delivered under the contract, subject to a 1% per annum adjustment (compounded annually, commencing on the first anniversary of the agreement) once 217,000 ounces have been delivered.  At December 31, 2014, El Morro had proven and probable gold reserves of 8.92 million ounces (100% basis)1.

Goldcorp also announced today that it has reached an agreement with Teck Resources Limited ("Teck") (TSX: TCK.A & TCK.B, NYSE: TCK) to combine their respective interests in the El Morro (including the 30% interest to be acquired from New Gold as described above) and Relincho projects in Chile into a 50/50 joint venture.

"This transaction allows us to consolidate the ownership of El Morro and work with Teck to jointly develop the Relincho and El Morro deposits in a way that is expected to deliver significant synergies to our respective stakeholders and shareholders," said Chuck Jeannes, Goldcorp's President and CEO.

Completion of the transactions contemplated by this press release are subject to customary closing conditions and are anticipated to close in the fourth quarter of 2015.

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1 Estimated in accordance with CIM Definition Standards and National Instrument 43-101 as required by Canadian securities regulatory authorities. For a breakdown and additional details on tonnes, grade and ounces, see Goldcorp's 2014 Annual Information Form.

About Goldcorp

Goldcorp is a leading gold producer focused on responsible mining practices with safe, low-cost production throughout the Americas.  A portfolio of long-lived, high-quality assets positions Goldcorp to deliver long-term value.