OREANDA-NEWS. August 28, 2015.  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.