(EEYOU ISTCHEE) AND CREE REGIONAL AUTHORITY SIGN AN IMPORTANT AGREEMENT REGARDING THE ELEONORE GOLD PROJECT IN NORTHERN QUEBEC

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VANCOUVER and WEMINDJI, QC, Feb. 21 /CNW/ - GOLDCORP INC. (NYSE: GG) (TSX: G) ("Goldcorp"), the Cree Nation of Wemindji, the Grand Council of the Crees (Eeyou Istchee) and the Cree Regional Authority (the "Crees") today signed a Collaboration Agreement regarding the development and operation of Goldcorp's Eleonore Gold Project in northern Quebec. The signing ceremony took place in Wemindji, Quebec.


With the support of the people of Wemindji, the community formally approved the agreement on January 26, 2011 with the unanimous consent of Wemindji's Chief and Council. It was subsequently approved unanimously by the Grand Council of the Crees (Eeyou Istchee) and the Cree Regional Authority on February 3, 2011, representing the support of the Cree Nation as a whole, and ensuring a stable regional environment for the development and operation of the Eleonore Gold Project.


Under the agreement, Goldcorp recognizes and respects Cree rights and interests in the area of the Eleonore Gold Project and the Crees recognize and support Goldcorp's rights and interests in the development and operation of the project.


By entering into the agreement, the Crees have demonstrated their commitment to collaborate with Goldcorp in the development and operation of a new gold mine in Cree territory. The agreement will be in effect for the life of the mine. It includes provisions regarding the participation of the Crees in the development of the Eleonore Gold Project throughout the life of the mine, including employment and business opportunities and training and education initiatives.


The agreement aligns Goldcorp and Cree interests in the economic success of the project, and ensures that the Crees will receive financial benefits through a variety of fixed payment mechanisms and participation in the future profitability of the mine. The agreement also reflects Goldcorp's commitment to protecting the environment and supporting the Crees' social and cultural practices in a spirit of continued collaboration.


"This collaborative partnership with the James Bay Crees creates the foundation for a lasting relationship built on trust, mutual respect and constructive engagement," said Chuck Jeannes, President and CEO of Goldcorp. "As Eleonore has grown and developed, so too have the social and economic opportunities the project creates for stakeholders. We will work closely with the Crees to advance these opportunities while acting as responsible stewards of the land and for the health and safety of those working and living on it."


"This Collaboration Agreement is a vibrant example where, with the participation of the Crees, mining development can take place and prosper in Eeyou Istchee," said Dr. Matthew Coon Come, Grand Chief of the Grand Council of the Crees (Eeyou Istchee). "This agreement marks the beginning of a collaborative and fruitful relationship between the Crees and Goldcorp, a relationship based on respect for Cree rights and environmental and economic sustainability. In accordance with the principles of our Cree Nation Mining Policy, the Crees and Goldcorp have ensured that our traditional rapport to the land remains intact. This agreement sets the new standard for mining proponents seeking to do business in Eeyou Istchee."


"This agreement represents the beginning of a new era between developers and indigenous communities based on respect and recognition of the significant contributions our communities can make in the development of projects such as Eleonore. My people can proudly stand with Goldcorp as we do everything we can to ensure the profitability of the project while managing it in a manner reflective of our obligations to our families and future generations," said Wemindji Chief Rodney Mark.


Les Mines Opinaca Ltee, a wholly-owned subsidiary of Goldcorp, owns the Eleonore Gold Project and is the signatory to the Collaboration Agreement with the Crees.


Goldcorp is one of the world's fastest growing senior gold producers. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.