VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 25, 2008) -

Goldcorp Inc. (TSX:G)(NYSE:GG) and Gold Eagle Mines Ltd. (TSX:GEA) announced today that the acquisition of Gold Eagle by Goldcorp has been completed.

Under the Plan of Arrangement, shareholders of Gold Eagle were entitled to receive at their election and subject to proration either C$13.60 in cash; 0.292 of a common share of Goldcorp and $0.0001 in cash; or any combination thereof, for each Gold Eagle common share held. Gold Eagle shareholders elected to receive a cash amount greater than the maximum available according to the terms of the Plan.

As a result, shareholders will receive approximately 52.7% of the cash amount that they elected or were deemed to have elected. In aggregate, C$725.8 million in cash and 15.6 million common shares of Goldcorp will be paid and issued to Gold Eagle shareholders. The common shares of Gold Eagle will be de-listed from the Toronto Stock Exchange effective at the close of markets on Tuesday, September 30, 2008.

Goldcorp's acquisition of Gold Eagle's Bruce Channel discovery secures control of eight kilometres of strike length along the prolific Red Lake trend in Ontario, Canada. Bruce Channel is southwest of Goldcorp's Red Lake mine and contiguous to its Cochenour-Willans Project.

"The Gold Eagle transaction is consistent with our strategy of adding high quality gold reserves and pursuing responsible growth in the districts where we already operate," said Kevin McArthur, Goldcorp President and Chief Executive Officer. "Our focus now turns to maximizing Red Lake's potential through productivity initiatives, open pit opportunities, enhanced milling alternatives and exploration success already achieved at this world-class mine."

Macquarie Capital Markets Canada Ltd. acted as financial advisor to Goldcorp and J.P. Morgan Securities Inc. acted as strategic advisor. Cassels Brock & Blackwell LLP acted as Goldcorp's legal counsel.

Goldcorp is the lowest cost, fastest growing senior gold producer. Located entirely in the Americas, its gold production and reserves are 100% unhedged.

For more information, please contact