Wheaton Achieves Record Reserve/Resource Levels

    News Editors

    VANCOUVER, British Columbia--(BUSINESS WIRE)--March 7, 2005--Wheaton River Minerals Ltd. ("Wheaton") (TSX:WRM)(AMEX:WHT), recently acquired by Goldcorp Inc. (TSX:G)(NYSE:GG), is pleased to report record levels of Gold reserves and resources as of December 31, 2004, summarized as follows:

    - Proven and Probable gold reserves have increased to 5.1 million ounces;

    - Measured and Indicated resources have increased to 3.7 million ounces; and

    - Inferred resources have increased to 5.1 million ounces.

    Ian Telfer, Chairman & Chief Executive Officer of the Company said: "Nearly one million gold ounces were added to the reserve base during 2004, almost double the year's production of 513,000 ounces. Wheaton has also exceeded 5 million ounces of Proven and Probable gold reserves for the first time in company history. When you combine this organic growth in reserves and resources with our record gold production and cost achievements of 2004, the strength of our operating team stands out."

WHEATON RIVER MINERALS LTD. PROVEN AND PROBABLE RESERVES AS OF DECEMBER 31, 2004 (1,5,6,7) -----------------------------------------------------------------

million million GOLD tonnes g Au/t ounces

Luismin Mexico 4.73 5.54 0.84 (100%) Peak Australia 2.10 6.05 0.41 (100%) Alumbrera Argentina 140.25 0.52 2.36 (37.5%)(2) Amapari Brazil 20.65 2.30 1.53 (100%) TOTAL 5.14 -----------------------------------------------------------------

million million SILVER tonnes g Ag/t ounces

Luismin Mexico 3.53 355 40.3 (100%) TOTAL 40.3 -----------------------------------------------------------------

million million COPPER tonnes % Cu pounds

Peak Australia 2.10 0.56% 26 (100%) Alumbrera(2) Argentina 140.25 0.48% 1,471 (37.5%) TOTAL 1,497 -----------------------------------------------------------------

WHEATON RIVER MINERALS LTD. RESOURCES AS OF DECEMBER 31, 2004 (1,3,4,5,6,7) -------------------------------------------------------------------- Measured & Indicated Inferred --------------------------------------------------------------------

million million million million GOLD tonnes g Au/t ounces tonnes g Au/t ounces

Luismin Mexico 10.48 1.76 0.59 25.49 2.7 2.22 (100%) Los Filos Mexico 88.21 0.89 2.52 11.26 0.7 0.26 (100%) El Limon Mexico - - - 6.50 3.3 0.68 (21.2%)(2) Peak Australia 1.66 4.15 0.22 2.59 9.4 0.78 (100%) Alumbrera Argentina 11.25 0.39 0.14 - - - (37.5%)(2) Amapari Brazil 3.28 1.86 0.20 8.93 3.9 1.11 (100%) TOTAL 3.67 5.06 --------------------------------------------------------------------

million million million million SILVER tonnes g Ag/t ounces tonnes g Ag/t ounces

Luismin Mexico - - - 15.80 287 145.6 (100%) TOTAL - 145.6 --------------------------------------------------------------------

million million million million COPPER tonnes % Cu pounds tonnes % Cu pounds

Peak Australia 1.66 1.26 46 2.59 0.6 32 (100%) Alumbrera Argentina 11.25 0.40 99 - - - (37.5%)(2) TOTAL 145 32 --------------------------------------------------------------------

Notes:

1. All Mineral Reserves and Mineral Resources have been calculated as of December 31, 2004 in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101, or the AusIMM JORC equivalent. 2. Data shown is Wheaton River's share of reserves and resources. 3. All Mineral Resources are exclusive of Mineral Reserves. 4. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. 5. Qualified Persons for the Mineral Reserve and Mineral Resource estimates as defined by the National Instrument 43-101 are as follows: a. Luismin - San Dimas and San Martin reserves and resources Reynaldo Rivera, AusIMM, Luismin S.A. de C.V. b. Luismin - Nukay reserves and resources Gary Giroux. P.Eng., Micon Consultants c. Los Filos resources Neil Burns, P.Geo., Snowden Mineral Industry Consultants d. El Limon resources James N. Grey, P.Geo., Al Samis, P.Geo., Teck Cominco Ltd. e. Alumbrera reserves and resources Luis Rivera, AusIMM, Minera Alumbrera Ltd. f. Peak Gold reserves Joe Ranford, AusIMM, Peak Gold Mines g. Peak Gold resources Rex Berthelsen, AusIMM, Peak Gold Mines h. Amapari reserves and resources Rodrigo Mello, AusIMM, Wheaton Gold Brazil i. Wheaton River Corporate Randy V.J. Smallwood, P.Eng., Wheaton River Minerals Ltd. 6. Mineral Reserves and Mineral Resources are estimated using appropriate recovery rates and commodity prices as follows; a. San Dimas, San Martin, Nukay, Peak, Amapari - US$ 375 per ounce of gold, US$ 5.50 per ounce of silver (where applicable), and US$ 0.95 per pound of copper (where applicable) b. Alumbrera reserves - US$ 350 per ounce of gold, US$ 0.90 per pound of copper c. Los Filos, El Limon, Alumbrera resources - wholly contained within an optimization shell defined by using US$ 400 per ounce of gold and US$ 1.00 per pound of copper (where applicable) 7. For a detailed breakdown of Proven and Probable Reserves, and Measured, Indicated and Inferred Resources please reference the supplemental information attached at the end of this press release, or visit www.wheatonriver.com.

    Reserve and Resource Growth

    Luismin For the first time ever the prolific San Dimas camp has exceeded one million gold equivalent ounces in proven and probable reserves. Surface and underground drilling continues to define a high grade east-west regional trend through the centre of this district, and the new tunnel to access these vein systems at depth is advancing ahead of schedule. At the San Martin operation, development of the Cuerpo 31 orebody is progressing on schedule and the first ore was delivered from this orebody during 2004. Drilling from both surface and underground continues to define and expand the northern and depth extents of this orebody.

    Los Filos The December 31, 2004 resource is reported within a US$ 400 gold optimized pit shell, and includes crush/leach resources of 51 million measured and indicated tonnes grading 1.28 grams of gold per tonne for a total of 2.1 million ounces. In addition, metallurgical testing during the year has shown that a large amount of lower grade material previously defined as uneconomic can be profitably run-of-mine leached. Since acquisition, drilling and metallurgical improvements have increased the global measured and indicated resource ounces at Los Filos by 41%.

    El Limon During 2004 drilling was focused on defining the limits of the Guajes West orebody and testing extensions to the south of the Limon Sur deposit. Over the year, inferred resources at this deposit were increased by 63% to over 3 million ounces, all contained within a US$ 400 gold pit optimization shell. An infill drilling campaign is expected to begin during 2005.

    Peak Since the acquisition of Peak in mid 2003, gold ounces contained in resources have now more than doubled. 2005 drilling will focus on advancing these resource ounces into the reserve base.

    Alumbrera A significant drilling program was conducted during 2004, adding more than two years of operating life to this world class operation. At the end of 2004, another 30 million tonnes were added as measured and indicated resources.

    Amapari Since acquisition in January 2004 the Company has conducted a successful infill and step-out drilling program. Studies have demonstrated that open pit mining of a portion of the sulphide reserves is feasible, and the consequent decrease in operating costs per tonne has resulted in a significant amount of lower grade material becoming economically mineable. Cash costs are expected to remain in line with previous projections of US$ 137 per ounces of gold. Production is expected to commence in Q3 2005.

    In 2005, Wheaton expects to produce 675,000 gold equivalent ounces at a total cash cost of less than $50 per gold equivalent ounce. By 2006, with the Los Filos and Amapari projects in operation, overall production will increase to over 950,000 gold equivalent ounces at a total cash cost of less than $100 per gold equivalent ounce.

    In December 2004, the Company announced it had reached an agreement in principle to combine with Goldcorp through a share exchange take-over bid whereby Goldcorp offered one common share of Goldcorp for every four common shares of Wheaton. On February 10, 2005, Goldcorp shareholders approved the combination and on February 14, 2005, approximately 69% of Wheaton common shares were tendered to the Goldcorp offer. As a result, effective February 15, 2005, Goldcorp will consolidate the operations of Wheaton. The combination will create one of the world's lowest cost million ounce gold producers. 2005 gold production of the combined company is expected to exceed 1.1 million ounces of gold at a total cash cost of less than $60 per ounce. By 2007, gold production is expected to grow to 1.5 million ounces with commencement of operation at Los Filos and Amapari and the expansion of the Red Lake Mine shaft. The combined company will have a strong balance sheet with over $500 million in cash and gold bullion, and no debt.

    Cautionary Statements

    Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to those with respect to the price of gold, silver and copper, the timing and amount of estimated future production, costs of production, reserve determination and reserve conversion rates involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Wheaton River to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to the integration of acquisitions, risks related to international operations, risks related to joint venture operations, the 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 and copper, as well as those factors discussed in the section entitled "Risk Factors" in the Form 40-F for the company on file with the U.S. Securities and Exchange Commission in Washington, D.C. Although Wheaton River has attempted to identify important factors that could cause actual results to differ materially, 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.

    This news release uses the terms "Measured", "Indicated" and "Inferred" Resources. United States investors are advised that, such terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. "Inferred Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an "Inferred Resource" will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that all or any part of Measured or Indicated Resources will ever be converted into Reserves. U.S. investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.

Supplemental Information; Wheaton River Equity Gold Proven and Probable Reserves

RESERVES PROVEN as of December 31, 2004

GOLD mt g Au/t m oz

LUISMIN San Dimas 1.09 7.20 0.25 LUISMIN San Martin 0.61 4.21 0.08 LUISMIN Nukay 0.42 4.73 0.07 WHEATON ASIA PACIFIC Peak Gold 0.83 5.28 0.14 XSTRATA Alumbrera 132.00 0.53 2.25 WHEATON GOLD BRAZIL Amapari 5.54 2.13 0.38 ---- Totals 3.17

SILVER mt g Ag/t m oz

LUISMIN San Dimas 1.09 489 17.2 LUISMIN San Martin 0.61 67 1.3 ---- Totals 18.5

COPPER t % Cu m lbs

WHEATON ASIA PACIFIC Peak Gold 0.83 0.73% 13 XSTRATA Alumbrera 132.00 0.48% 1,397 ----- Totals 1,410

RESERVES as of December 31, 2004 PROBABLE PROVEN & PROBABLE

GOLD mt g Au/t m oz mt g Au/t m oz

LUISMIN San Dimas 1.49 5.77 0.28 2.59 6.37 0.53 LUISMIN San Martin 0.34 4.63 0.05 0.95 4.36 0.13 LUISMIN Nukay 0.77 4.65 0.12 1.19 4.68 0.18 WHEATON ASIA PACIFIC Peak Gold 1.27 6.55 0.27 2.10 6.05 0.41 XSTRATA Alumbrera 8.25 0.41 0.11 140.25 0.52 2.36 WHEATON GOLD BRAZIL Amapari 15.11 2.36 1.15 20.65 2.30 1.53 ---- ---- Totals 1.97 5.14

SILVER mt g Ag/t m oz mt g Ag/t m oz

LUISMIN San Dimas 1.49 442 21.2 2.59 462 38.4 LUISMIN San Martin 0.34 51 0.6 0.95 62 1.9 ---- ---- Totals 21.8 40.3

COPPER t % Cu m lbs t % Cu m lbs WHEATON ASIA PACIFIC Peak Gold 1.27 0.45% 13 2.10 0.56% 26 XSTRATA Alumbrera 8.25 0.41% 75 140.25 0.48% 1,471 ---- ---- Totals 87 1,497

Supplemental Information; Wheaton River Equity Gold Resources Exclusive of Reserves

RESOURCES MEASURED INDICATED as of December 31, 2004

GOLD mt g Au/t m oz mt g Au/t m oz

LUISMIN San Dimas - - - - - - LUISMIN San Martin - - - - - - LUISMIN Nukay 0.04 5.31 0.01 10.45 1.75 0.59 LUISMIN Los Filos 20.67 0.81 0.54 67.54 0.91 1.98 TECK COMINCO El Limon - - - - - - WHEATON ASIA PACIFIC Peak Gold 0.59 2.47 0.05 1.07 5.09 0.17 XSTRATA Alumbrera 9.75 0.40 0.13 1.50 0.30 0.01 WHEATON GOLD BRAZIL Amapari 0.62 2.40 0.05 2.66 1.73 0.15 ---- ---- Totals 0.77 2.90

SILVER mt g Ag/t m oz mt g Ag/t m oz

LUISMIN San Dimas - - - - - - LUISMIN San Martin - - - - - - ---- ---- Totals - -

COPPER mt % Cu m lbs mt % Cu m lbs

WHEATON ASIA PACIFIC Peak Gold 0.59 1.27% 17 1.07 1.25% 29 XSTRATA Alumbrera 9.75 0.40% 86 1.50 0.40% 13 ---- ---- Totals 103 43

RESOURCES MEASURED & INDICATED INFERRED as of December 31, 2004

GOLD mt g Au/t m oz mt g Au/t m oz

LUISMIN San Dimas - - - 13.26 3.4 1.44 LUISMIN San Martin - - - 2.54 2.5 0.21 LUISMIN Nukay 10.48 1.76 0.59 9.69 1.8 0.58 LUISMIN Los Filos 88.21 0.89 2.52 11.26 0.7 0.26 TECK COMINCO El Limon - - - 6.50 3.3 0.68 WHEATON ASIA PACIFIC Peak Gold 1.66 4.15 0.22 2.59 9.4 0.78 XSTRATA Alumbrera 11.25 0.39 0.14 - - - WHEATON GOLD BRAZIL Amapari 3.28 1.86 0.20 8.93 3.9 1.11 ---- ---- Totals 3.67 5.06

SILVER mt g Ag/t m oz mt g Ag/t m oz

LUISMIN San Dimas - - - 13.26 316 134.8 LUISMIN San Martin - - - 2.54 133 10.8 ---- ---- Totals - 145.6

COPPER mt % Cu m lbs mt % Cu m lbs

WHEATON ASIA PACIFIC Peak Gold 1.66 1.26% 46 2.59 0.56% 32 XSTRATA Alumbrera 11.25 0.40% 99 - - - ---- ---- Totals 145 32

    Goldcorp Inc. (TSX:G) (NYSE:GG)
    Wheaton River Minerals Ltd. (TSX:WRM) (AMEX:WHT)

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CONTACT: Wheaton River Minerals Ltd. / Goldcorp Inc. Julia Hasiwar Director, Investor Relations (604) 696-3011 Fax: (604) 696-3001 ir@wheatonriver.com www.wheatonriver.com

KEYWORD: NEW YORK INTERNATIONAL CANADA INDUSTRY KEYWORD: MINING/METALS SOURCE: Wheaton River Minerals Ltd.

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