EL SAUZAL

PROJECT SUMMARY

A feasibility study for developing the property was completed and was approved by the Glamis Board 2002. Construction began in the second half of 2003 following an environmental review and permitting.

Due to the remote location and steep, rugged terrain surraounding the El Sauzal site, extensive site development was required prior to the commencement of operations.   

A concerted effort on the part of El Sauzal's workforce throughout 2004 enabled the rapid completion of the access road from Choix to the mine site, mine construction and installation of the mill and other processing facilities. The mine commenced commercial production in December 2004, well ahead of the original feasibility schedule. Gold production in 2005, El Sauzal’s first full year in operation, was 191,586 ounces at a total cash cost of $137 per ounce.

The start-up phase progressed smoothly and the only modifications of any significance were made to the filtration circuit for dry stack tailings.

Goldcorp controls seven exploration concessions surrounding the El Sauzal deposit comprising an area of more than 100 square kilometers.

In 2007, gold production at El Sauzal totalled 306,900 ounces making it the largest gold mine in Mexico.  Gold production of approximately 530,000 ounces are expected for the remaining mine life through to 2010.