Peak gold is now call New gold NDG on TSX and NGA on the amex after a menage a tios merger with Metallica Resources Inc. ("Metallica Resources") (TSX - MR and AMEX - MRB), New Gold Inc. ("New Gold") (TSX and AMEX - NGD) and Peak Gold Ltd. ("Peak Gold") (TSXV - PIK) are pleased to announce that they have signed a definitive agreement in connection with the previously announced business combination (the "Transaction"). have owned shares in all three at some point, hold no new gold now but something screwie goin' on here

Goldcorp Announces Sale Of Peak And Amapari Mines

February 19, 2007

(All figures are in US dollars unless stated otherwise)

Vancouver, British Columbia – February 19, 2007 – Goldcorp Inc. (GG:NYSE; G:TSX) today announced that it has signed a letter of intent to sell its Peak mine in Australia and its Amapari mine in Brazil to GPJ Ventures Ltd. (TSXV: GPJ.H), which will change its name to Peak Gold Ltd. in connection with the transaction. Under the terms of the agreement, Goldcorp will receive from Peak Gold $200 million in cash and $100 million payable through the issuance of Peak Gold common shares. Upon completion of the sale, Goldcorp will own approximately 24 percent of Peak Gold.

“This transaction underscores our commitment to simplifying Goldcorp’s asset portfolio,” said Kevin McArthur, Goldcorp President and Chief Executive Officer. “It sharpens our geographic focus and provides capital that will help fund our growth opportunities and enhance our already-strong financial flexibility. Our ownership interest in Peak Gold will also allow us to participate financially in the future success of that exciting new growth platform.”

Julio Carvalho, previously Goldcorp’s Executive Vice President of South America, will serve as Chief Executive Officer of Peak Gold. Jim Simpson, previously general manager of Peak mine, will be the Chief Operating Officer. The initial Peak Gold board of directors will be comprised of current Goldcorp Chairman Ian Telfer, Frank Giustra, Gordon Keep and Mr. Carvalho. Completion of the transaction is subject to a number of conditions, including the execution of definitive agreements, requisite regulatory approvals, completion by GPJ of a Cdn.$277.5 million equity financing and approval by disinterested shareholders of GPJ.

Goldcorp’s forecast for 2007 gold production at Peak mine is approximately 120,000 ounces. Amapari mine is expected to produce approximately 95,000 gold ounces in 2007. Proven and probable reserves at Amapari have been revised downward to 485,000 gold ounces as at December 31, 2006, reflecting the exclusion of sulfide mineralization previously included in proven and probable reserves (please see www.goldcorp.com for complete December 31, 2006 reserve and resource statements for Amapari and Peak). As a result, Goldcorp will record an impairment charge of approximately $170 million in its 2006 year-end earnings.

Goldcorp is one of the world’s lowest cost and fastest growing multi-million ounce gold producers with operations throughout the Americas.