Toronto, February 21, 2005 – GOLDCORP INC. (GG: NYSE; G: TSX) announced today that its exploration efforts at the Red Lake Mine continue to indicate significant potential for building reserves and resources! Goldcorp’s Red Lake is the richest, and one of the lowest cost to produce gold mines in the world today!

SIGNIFICANT HIGHLIGHTS - 2004

• Two new potential Hanging Wall structures similar in nature to the High Grade Zone (HGZ) have been discovered
   
• High Grade Zone reaches record depth: 8,160 ft (2,490 m). This confirms high grade mineralization is still present 1,000 ft below the planned bottom of the new shaft
   
• Encouraging results: Sulphide Zones, Far East and new West Target areas
   
• Expansion of the Footwall Zones (FW) has accelerated production plans ahead of the forecasts

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