GOLDCORP, CREENATION OF WEMINDJI, GRAND COUNCIL OF THE CREES (EEYOU ISTCHEE) AND CREEREGIONAL AUTHORITY SIGN AN IMPORTANT AGREEMENT REGARDING THE ?L?ONOREGOLD PROJECT IN NORTHERN QU?BEC
2/21/2011 12:13 PM - Canada NewsWire
VANCOUVER and WEMINDJI, QC, Feb. 21, 2011 (Canada NewsWire via COMTEX News Network) -- << Toronto Stock Exchange: G New York Stock Exchange: GG >>
GOLDCORPINC. (NYSE: GG) (TSX: G) ("Goldcorp"), the Cree Nation of Wemindji, theGrand Council of the Crees (Eeyou Istchee) and the Cree RegionalAuthority (the "Crees") today signed a Collaboration Agreement regardingthe development and operation of Goldcorp's Él?onore Gold Project innorthern Qu?bec. The signing ceremony took place in Wemindji, Qu?bec.
Withthe support of the people of Wemindji, the community formally approvedthe agreement on January 26, 2011 with the unanimous consent ofWemindji's Chief and Council. It was subsequently approved unanimouslyby the Grand Council of the Crees (Eeyou Istchee) and the Cree RegionalAuthority on February 3, 2011, representing the support of the CreeNation as a whole, and ensuring a stable regional environment for thedevelopment and operation of the Él?onore Gold Project.
Under theagreement, Goldcorp recognizes and respects Cree rights and interestsin the area of the Él?onore Gold Project and the Crees recognize andsupport Goldcorp's rights and interests in the development and operationof the project.
By entering into the agreement, the Crees havedemonstrated their commitment to collaborate with Goldcorp in thedevelopment and operation of a new gold mine in Cree territory. Theagreement will be in effect for the life of the mine. It includesprovisions regarding the participation of the Crees in the developmentof the Él?onore Gold Project throughout the life of the mine, includingemployment and business opportunities and training and educationinitiatives.
The agreement aligns Goldcorp and Cree interests inthe economic success of the project, and ensures that the Crees willreceive financial benefits through a variety of fixed payment mechanismsand participation in the future profitability of the mine. Theagreement also reflects Goldcorp's commitment to protecting theenvironment and supporting the Crees' social and cultural practices in aspirit of continued collaboration.
"This collaborativepartnership with the James Bay Crees creates the foundation for alasting relationship built on trust, mutual respect and constructiveengagement," said Chuck Jeannes, President and CEO of Goldcorp. "AsÉl?onore has grown and developed, so too have the social and economicopportunities the project creates for stakeholders. We will work closelywith the Crees to advance these opportunities while acting asresponsible stewards of the land and for the health and safety of thoseworking and living on it."
"This Collaboration Agreement is avibrant example where, with the participation of the Crees, miningdevelopment can take place and prosper in Eeyou Istchee," said Dr.Matthew Coon Come, Grand Chief of the Grand Council of the Crees (EeyouIstchee). "This agreement marks the beginning of a collaborative andfruitful relationship between the Crees and Goldcorp, a relationshipbased on respect for Cree rights and environmental and economicsustainability. In accordance with the principles of our Cree NationMining Policy, the Crees and Goldcorp have ensured that our traditionalrapport to the land remains intact. This agreement sets the new standardfor mining proponents seeking to do business in Eeyou Istchee."
"Thisagreement represents the beginning of a new era between developers andindigenous communities based on respect and recognition of thesignificant contributions our communities can make in the development ofprojects such as Él?onore. My people can proudly stand with Goldcorp aswe do everything we can to ensure the profitability of the projectwhile managing it in a manner reflective of our obligations to ourfamilies and future generations," said Wemindji Chief Rodney Mark.
LesMines Opinaca Lt?e, a wholly-owned subsidiary of Goldcorp, owns theÉl?onore Gold Project and is the signatory to the CollaborationAgreement with the Crees.
Goldcorp is one of the world's fastestgrowing senior gold producers. Its low-cost gold production is locatedin safe jurisdictions in the Americas and remains 100% unhedged.
Cautionary Note Regarding Forward-Looking Statements
Thispress release contains "forward-looking statements", within the meaningof the United States Private Securities Litigation Reform Act of 1995and applicable Canadian securities legislation, concerning the business,operations and financial performance and condition of Goldcorp Inc.("Goldcorp"). Forward-looking statements include, but are not limitedto, statements with respect to the future price of gold, silver, copper,lead and zinc, the estimation of mineral reserves and resources, therealization of mineral reserve estimates, the timing and amount ofestimated future production, costs of production, capital expenditures,costs and timing of the development of new deposits, success ofexploration activities, permitting time lines, hedging practices,currency exchange rate fluctuations, requirements for additionalcapital, government regulation of mining operations, environmentalrisks, unanticipated reclamation expenses, timing and possible outcomeof pending litigation, title disputes or claims and limitations oninsurance coverage. Generally, these forward-looking statements can beidentified by the use of forward-looking terminology such as "plans","expects", "is expected", "budget", "scheduled", "estimates","forecasts", "intends", "anticipates", "believes" or variations of suchwords and phrases or statements that certain actions, events or results"may", "could", "would", "might" or "will be taken", "occur" or "beachieved" or the negative connotation thereof.
Forward-lookingstatements are made based upon certain assumptions and other importantfactors that, if untrue, could cause the actual results, performances orachievements of Goldcorp to be materially different from futureresults, performances or achievements expressed or implied by suchstatements. Such statements and information are based on numerousassumptions regarding present and future business strategies and theenvironment in which Goldcorp will operate in the future, including theprice of gold, anticipated costs and ability to achieve goals. Certainimportant factors that could cause actual results, performances orachievements to differ materially from those in the forward-lookingstatements include, among others, gold price volatility, discrepanciesbetween actual and estimated production, mineral reserves and resourcesand metallurgical recoveries, mining operational and development risks,litigation risks, regulatory restrictions (including environmentalregulatory restrictions and liability), activities by governmentalauthorities (including changes in taxation), currency fluctuations, thespeculative nature of gold exploration, the global economic climate,dilution, share price volatility, competition, loss of key employees,additional funding requirements and defective title to mineral claims orproperty. Although Goldcorp has attempted to identify important factorsthat could cause actual actions, events or results to differ materiallyfrom those described in forward-looking statements, there may be otherfactors that cause actions, events or results not to be as anticipated,estimated or intended.
Forward-looking statements are subject toknown and unknown risks, uncertainties and other important factors thatmay cause the actual results, level of activity, performance orachievements of Goldcorp to be materially different from those expressedor implied by such forward-looking statements, including but notlimited to: risks related to the integration of acquisitions; risksrelated to international operations, including economical and politicalinstability in foreign jurisdictions in which Goldcorp operates; risksrelated to current global financial conditions; risks related to jointventure operations; actual results of current exploration activities;environmental risks; future prices of gold, silver, copper, lead andzinc; possible variations in ore reserves, grade or recovery rates; minedevelopment and operating risks; accidents, labour disputes and otherrisks of the mining industry; delays in obtaining governmental approvalsor financing or in the completion of development or constructionactivities; risks related to indebtedness and the service of suchindebtedness, as well as those factors discussed in the section entitled"Description of the Business - Risk Factors" in Goldcorp's annualinformation form for the year ended December 31, 2009 available atwww.sedar.com. Although Goldcorp has attempted to identify importantfactors that could cause actual results to differ materially from thosecontained in forward-looking statements, there may be other factors thatcause results not to be as anticipated, estimated or intended. Therecan be no assurance that such statements will prove to be accurate, asactual results and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking statements. Forward-looking statementsare made as of the date hereof and accordingly are subject to changeafter such date. Except as otherwise indicated by Goldcorp, thesestatements do not reflect the potential impact of any non-recurring orother special items or of any dispositions, monetizations, mergers,acquisitions, other business combinations or other transactions that maybe announced or that may occur after the date hereof. Forward-lookingstatements are provided for the purpose of providing information aboutmanagement's current expectations and plans and allowing investors andothers to get a better understanding of our operating environment.Goldcorp does not undertake to update any forward-looking statementsthat are included in this document, except in accordance with applicablesecurities laws.
SOURCE: Goldcorp Inc.
Jeff Wilhoit, VicePresident, Investor Relations, Goldcorp Inc., Telephone: (604)696-3074, Fax: (604) 696-3001, E-mail: info@goldcorp.com, website:www.goldcorp.com
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