VANCOUVER, BRITISH COLUMBIA, Jun 02 (MARKET WIRE) —
(All dollar amounts in United States dollars (US$))

GOLDCORP INC. (TSX: G)(NYSE: GG) today announced that Goldcorp
subsidiaries have entered into a binding letter agreement to sell the San
Dimas gold-silver mine in Mexico to Mala Noche Resources Corp. (TSXV:
MLA), a company engaged in acquiring and developing precious metals
resource properties. Under the terms of the letter agreement, Goldcorp
will receive total consideration of $500 million, consisting of $275
million in cash, $175 million of Mala Noche common shares valued at the
offering price of Mala Noche’s proposed equity financing and a $50
million promissory note payable over five years which will bear interest
at a rate of 6% per annum. Goldcorp’s ownership interest in Mala Noche is
expected to be approximately 30%.

“This transaction is consistent with Goldcorp’s ongoing strategy of
creating value for shareholders while concentrating our focus on the
cornerstone assets that will drive our industry leading production growth
and future cash flow,” said Chuck Jeannes, Goldcorp President and
Chief Executive Officer. “Like the recently announced sale of the
Escobal silver deposit, the capital derived from monetizing this asset
will be re-deployed into funding our growth without diluting our
shareholders. San Dimas has been an important contributor to Goldcorp’s
success over the years, with new discoveries enhancing the long term
production profile at this historic mine. We look forward to
participating in the future success of Mala Noche and San Dimas through
our significant ownership interest in the company.”

Mala Noche announced today that it has appointed Joseph Conway as Chief
Executive Officer of Mala Noche. As former Chief Executive Officer of
Iamgold, Conway oversaw the growth of that company into one of Canada’s
leading intermediate gold producers. Eduardo Luna, former Chairman of
Silver Wheaton Corp., and from 1991 to 2007 the President of Luismin,
S.A. de C.V., the owner and operator of San Dimas, has been appointed
Executive VP and President-Mexico of Mala Noche.

In 2009, San Dimas produced 113,000 ounces of gold and 5.1 million ounces
of silver. Under an arrangement with Silver Wheaton, Goldcorp sells all
of the silver produced at San Dimas to Silver Wheaton for approximately
$4.00 per ounce. In connection with the sale of San Dimas, Silver Wheaton
has agreed to amend the existing silver purchase agreement, to be assumed
by Mala Noche (for complete terms of the amended agreement see Silver
Wheaton and Mala Noche press releases dated June 2, 2010). As part of the
amended agreement, during the first four years following closing of the
transaction, Mala Noche will deliver to Silver Wheaton a per annum amount
equal to the first 3.5 million ounces of payable silver produced at San
Dimas and 50% of any excess, plus Silver Wheaton will receive an
additional 1.5 million ounces of silver per annum to be delivered by
Goldcorp for approximately $4.00 per ounce. Beginning in the fifth year
after closing, Mala Noche will deliver to Silver Wheaton a per annum
amount equal to the first six million ounces of payable silver produced
at San Dimas and 50% of any excess.

Upon completion of the transaction, Goldcorp will be entitled to maintain
its percentage ownership of the issued and outstanding common shares of
Mala Noche as well as proportional representation on Mala Noche’s board
of directors based on Goldcorp’s ownership percentage of Mala Noche.
These entitlements will remain in place as long as Goldcorp’s share
ownership remains at or above 10% of the issued and outstanding common
shares of Mala Noche.

The transaction has been approved by Goldcorp’s board of directors but is
subject to a number of conditions, including the completion of a proposed
equity financing by Mala Noche. Closing of the transaction is expected to
occur on or about July 30, 2010.

Goldcorp’s legal advisors are Cassels Brock & Blackwell LLP and Lawson
Lundell LLP. A fairness opinion was received from CIBC World Markets.

Goldcorp is North America’s fastest growing senior gold producer. Its
low-cost gold production is located in safe jurisdictions in the Americas
and remains 100% unhedged.

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. Forward-looking statements include, but are not
limited to, statements with respect to the successful completion of the
transaction, 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”, or
“believes”, or variations of such words and phrases or state
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 parties’
ability to meet all condition precedents and obtain all regulatory
approvals necessary to successfully complete the transaction, including
the completion of Mala Noche’s proposed offering; 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 and other risks of the mining industry; delays
in obtaining governmental approvals or financing or in the completion of
development or construction activities, 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, 2009, available on www.sedar.com, and Form 40-F for
the year ended December 31, 2009 on file with the United States
Securities and Exchange Commission in Washington, D.C. 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 incorporated by reference herein, except in
accordance with applicable securities laws.

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

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