Goldcorp to Host 2017 Investor Day; 2016 Production and Cost Guidance Achieved

VANCOUVER, Jan. 16, 2017 /PRNewswire/ - GOLDCORP INC. (TSX: G, NYSE: GG) announced today it will host its Investor Day on Tuesday, January 17, 2017 at 8:00am EST.  The Company's senior management team will provide details behind its strategy of growing net asset value per share through organic growth, lower operating costs and brownfield exploration.  The event will be webcast and available at www.goldcorp.com. 

The Company also announced preliminary gold production¹ for the fourth quarter and full year of 2016 of 761,000 ounces and 2,873,000 ounces, respectively, and all-in sustaining costs ("AISC")^1,2 for the full year 2016 are expected to be at the low end of the original guidance range of between $850 and $925 per ounce³.  Goldcorp's 2016 financial results will be released on February 15, 2017. 

"Goldcorp achieved production and all-in sustaining cost guidance as we re-oriented the business model in 2016," said David Garofalo, President and Chief Executive Officer of Goldcorp.  "Significant changes have been undertaken to focus the company on growing net asset value per share.  The changes have resulted in a renewed growth strategy where we expect over the next five years to achieve 20% growth in gold production, 20% growth in gold reserves and a 20% reduction in our all-in sustaining costs.  The ramp-up to nameplate capacity at Cerro Negro and Éléonore, a continued focus on productivity and efficiency improvements at our existing camps and advancing our robust project pipeline, will position the Company to deliver significant growth in net asset value per share."

The Company expects to produce approximately 2.5 million ounces (+/- 5%) of gold in 2017, in line with previous 2017 guidance after accounting for the recently announced sale of Los Filos and the closure of Marlin; AISC are expected to be approximately $850 per ounce³ (+/- 5%) as the company continues to realize savings from its $250 million target in annual sustainable efficiencies.

Over the next five years gold production is expected to increase 20% to approximately 3 million ounces, excluding potential production from the Cochenour and HG Young projects in the Red Lake Camp, the Century project in the Porcupine camp and the NuevaUnión project in Chile.  AISC are expected to decrease by 20% to approximately $700 per ounce over the next five years driven by the focus on cost efficiencies and productivity improvements.  Reserves are expected to increase 20% to 50 million ounces over the next five years from the conversion of existing resources at the Century Project, Peñasquito and Pueblo Viejo.  For 2017 and five year guidance details refer to:  http://www.goldcorp.com/files/doc_downloads/guidance/2017/Goldcorp-Guidance-Jan-2017.pdf

About Goldcorp

Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.  

Footnotes 

Cautionary Note Regarding Forward Looking Statements

This press release contains "forward-looking statements", within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Exchange Act of 1934, as amended, or the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of 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 future price of gold, silver, copper, lead and zinc, the estimation of mineral reserves  and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, targeted cost reductions, capital expenditures, free cash flow, 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 words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will", "occur" or "be achieved" or the negative connotation thereof. 

Forward-looking statements are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of Goldcorp to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Goldcorp will operate in the future, including the price of gold and other by-product metals, anticipated costs and ability to achieve goals. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, among others, gold and other by-product metals price volatility, discrepancies between actual and estimated production, mineral reserves and mineral resources and metallurgical recoveries, mining operational and development risks, litigation risks, regulatory restrictions (including environmental regulatory restrictions and liability), changes in national and local government legislation, taxation, controls or regulations and/or change in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, the United States and other jurisdictions in which Goldcorp does or may carry on business in the future, delays, suspension and technical challenges associated with capital projects, higher prices for fuel, steel, power, labour and other consumables,  currency fluctuations, the speculative 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 or property. Although Goldcorp believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 

Forward-looking statements are subject to known and unknown risks, uncertainties and other important 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 international operations including economic and political instability in foreign jurisdictions in which Goldcorp operates; risks related to current global financial conditions; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; environmental risks; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other by-product metals; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; risks related to the integration of acquisitions; accidents, labour disputes; delays in obtaining governmental approvals or financing or in the completion of development or construction activities and other risks of the mining industry, as well as those factors discussed in the section entitled "Description of the Business – Risk Factors" in Goldcorp's most recent annual information form available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. 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. The forward-looking statements contained herein are made as of the date hereof and, accordingly, are subject to change after such date. Except as otherwise indicated by Goldcorp, these statements do not reflect the potential impact of any non-recurring or other special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of Goldcorp's operating environment. Goldcorp does not intend or undertake to publicly update any forward-looking statements that are included in this document, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

SOURCE Goldcorp Inc.