Canadian Warrants

Since more than two-thirds of each series of warrants have been exercised, any warrants that have not been exercised will be automatically exchanged for a lesser number of common shares and new warrants based on the fractions set forth in the table below:

This exchange will be made pursuant to the terms of the respective warrant indentures which govern the warrants and no further action of those warrantholders will be required, including payment of the respective warrant exercise price thereof or any other additional consideration.

Each whole new warrant issued by Goldcorp entitles the holder to purchase one common share of Goldcorp at an exercise price of Cdn$45.75 at any time before 5:00 p.m. (Vancouver time) on June 9, 2011.  The new warrants will begin trading on the Toronto Stock Exchange and the New York Stock Exchange at the open on June 12, 2006 under the symbols G.WT.G and GGWS, respectively.

The First Warrants, Series A Warrants, Series B Warrants, Series C Warrants and U.S. Dollar Warrants were de-listed from the Toronto Stock Exchange effective at the close on June 9, 2006 and the Series A Warrants and Series C Warrants were de-listed from the New York Stock Exchange effective at the close on June 9, 2006.

Ian Telfer, President and Chief Executive Officer commented on the warrant transaction stating, “This warrant transaction has been a resounding success as evidenced by an average of 97% across all five series of warrants being exercised.  It simplifies Goldcorp’s capital structure and strengthens its financial position.  As a result of this transaction, Goldcorp’s lines of credit outstanding will be reduced from US$1.3 billion to US$850 million.”

A copy of the final short form prospectus dated May 5, 2006 relating to the warrant transaction can be found at www.sedar.com as well as on Goldcorp’s website at www.goldcorp.com.

BMO Nesbitt Burns Inc. and GMP Securities L.P. acted as financial advisors to Goldcorp with respect to the transaction.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Goldcorp is the world’s lowest cost multi-million ounce gold producer.  Annualized gold production in 2006 is expected to be approximately 2 million ounces at a cash cost of approximately US$125 per ounce and Goldcorp does not hedge its gold production.

Goldcorp to list 8,681,631 warrants June 12

2006-06-08 20:09 ET - Warrants Called to Trade
TSX bulletin 2006-0724
Further to the Toronto Stock Exchange bulletin No. 2006-0660 dated May 29, 2006,
up to 8,681,631 common share purchase warrants of Goldcorp Inc. will be listed at
the open on Monday, June 12, 2006, under the following trading information:
Warrant symbol:  G.WT.G
Warrant Cusip No.:  380956 17 7
Designated market-maker:  National Bank Financial Inc.
Other markets:  It is expected that the new warrants will be listed on the New York
Stock Exchange
Each new warrant will entitle the holder to purchase one common share of the
company at a price equal to 150 per cent of the volume weighted average trading
price of the common shares on the TSX for the five trading days ending on June 9,
2006, rounded to the nearest 25 cents, at any time before 5 p.m. (Vancouver time)
on June 9, 2011. The new warrants will be issued to holders of any of the first
warrants (TSX: G.WT), Series A warrants (TSX: G.WT.A), Series B warrants (TSX: G.
WT.B), Series C warrants (TSX: G.WT.C) and United States dollar warrants (TSX: G.
WT.U) exercising their old warrants during the early exercise period as an incentive
for holders of old warrants to participate in the offer by the company to exercise
existing old warrants on or before June 9, 2006, under their existing terms, to
receive, in addition to the common shares they are entitled to, a fraction of a new
warrant for each series of warrants exercised during the early exercise period.
The new warrants will be governed by the terms of a warrant indenture dated May 5,
2006, between the company and CIBC Mellon Trust Co., as warrant agent. The
warrant indenture provides for appropriate adjustments to the rights of the holders of
new warrants in the event of stock dividends, subdivisions, consolidations and other
forms of capital reorganization.
For each series of warrants where greater than 66-2/3 per cent of warrantholders
have properly exercised during the early exercise period, each holder of old warrants
of record as at the close on Friday, June 9, 2006, who has not exercised its old
warrants will be mailed on or about June 16, 2006, a certificate representing the
new warrants and a certificate representing common shares of the company, to
which it is entitled, as set out in the bulletin. In this case certificates representing old
warrants will become void and of no value.
No certificates representing fractional new warrants or fractional common shares
will be issued.
Should fewer than 66-2/3 per cent of any series of warrants be exercised on or prior
to 5 p.m. (Vancouver time) on June 9, 2006, the trading of any such series of
warrants will continue on the TSX at the open on Monday, June 12, 2006, under the
current trading information for each such series of warrants. The TSX will issue a
trader note before the open on June 12, 2006, announcing:
1.        the exercise price of the new warrants;
2.        the number of new warrants to be posted for trading;
3.        the continuation of trading of each series of warrants where fewer than 66-2/3
per cent of the series of warrants were exercised during the early exercise period, if
any; and
4.        the subsequent delisting of any series of warrants (which will be halted from
trading at noon on June 9, 2006, as per TSX bulletin 2006-0660) where greater than
66-2/3 per cent of any such series of warrants were exercised during the early
exercise period.