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[dietmar w]

GG

Good Morning Dan

VANCOUVER, British Columbia--(BUSINESS WIRE)--May 16, 2005--Goldcorp Inc. (TSX:G - News; NYSE:GG - News) is pleased to announce its first quarter results, highlights of which are:
- Successful acquisition of Wheaton, creating the world's lowest
cost million ounce gold producer.

- Net earnings increased 70% to $29.5 million ($0.12 per share),
compared with $17.3 million ($0.09 per share) in 2004;

- Operating cash flows grew to $80.2 million ($0.32 per share),
compared with a cash outflow of $3.5 million in 2004;

- Gold production increased by 73% to 275,400 ounces for the
quarter;

- Total cash costs declined to $94 per ounce compared to $100
in 2004.

These results reflect only an 82% ownership of Wheaton for the six
weeks from February 15 to March 31, 2005.

- Had Goldcorp owned the Wheaton operations for the full three
months, and had all gold withheld from sale during the quarter
been sold, net earnings for the quarter would have been $62.9
million, or $0.19 per share, and total cash costs would have been
$38 per ounce.

- Red Lake and Luismin mines achieve record gold production for the
quarter.

- Liquid assets at March 31, 2005 totalled $480 million.


"We are thrilled with the financial and operating results for the quarter, which include Wheaton's operations for only six weeks. Production and earnings are up and cash costs are down. This is a great start to the year for both management and shareholders of the new expanded Goldcorp," stated Ian Telfer, President and CEO........

regards

Dietmar