OREANDA-NEWS. August 17, 2012. GOLDCORP INC. (TSX: G, NYSE: GG) is pleased to announce that the Pueblo Viejo mine in the Dominican Republic has achieved first gold production, with ore now being processed through the first two of four autoclaves. The Pueblo Viejo mine is a joint venture between Goldcorp Inc. ("Goldcorp") and Barrick Gold Corporation ("Barrick"), where Goldcorp is a 40% partner and Barrick is the 60% partner and the mine operator.

The mine is now proceeding with remaining plant commissioning activities, including the final two autoclaves, with commercial production anticipated in the fourth quarter of 2012.  Goldcorp's 40% share of 2012 gold production from Pueblo Viejo is expected to be between 68,000 - 85,000 ounces at total cash costs of between USD 400-USD 500 per ounce1. In its first full five years of operation, Goldcorp's share of gold production is anticipated to be between 415,000 - 450,000 ounces at total cash costs of less than USD 350 per ounce2.

Goldcorp is one of the world's fastest growing senior gold producers.  Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.

1 Based on a WTI oil price assumption of USD 90/bbl. The 2012 total cash cost estimate is dependent on the rate at which production ramps up after commercial levels of production are achieved. A change in the efficiency of the ramp up could have a significant impact on this estimate.

2 Based on gold and WTI oil price assumptions of USD 1,300/oz and USD 90/bbl, respectively. Does not include escalation for future inflation.