Mr. David Garofalo reports

GOLDCORP REPORTS FIRST QUARTER 2017 RESULTS

Goldcorp Inc. has released its first quarter 2017 results. (All amounts are in U.S. dollars.)

First quarter highlights:

• Net earnings for the first quarter were $170-million, or 20 cents per share, compared with net earnings of $80-million, or 10 cents per share, for the first quarter of 2016.
• First quarter operating cash flows were $227-million, and adjusted operating cash flows (1, 2) were $269-million, of which $74-million was used to finance the growth pipeline, $65-million was used to repurchase a gold stream on the company's NuevaUnion project and $15-million was used to pay dividends. Available liquidity at March 31, 2017, stood at $3.1-billion.
• Gold production was 655,000 ounces at low all-in sustaining costs (1) (AISC) of $800 per ounce, compared with 784,000 ounces at an AISC of $836 per ounce for the first quarter of 2016. Two thousand seventeen guidance reconfirmed for gold production of approximately 2.5 million ounces (plus or minus 5 per cent) at an AISC of approximately $850 per ounce (plus or minus 5 per cent).
• Portfolio optimization continues to drive increasing net asset value per share. The company continued to upgrade its portfolio with the announcement of a 50/50 joint venture with Barrick in the Maricunga district in Chile, and the completion of approximately $500-million in divestitures of non-core assets. Targeted annual sustainable efficiencies of $250-million and advancing the company's robust project pipeline are on track to deliver a 20-per-cent increase in gold production, a 20-per-cent increase in gold reserves and a 20-per-cent reduction in AISC over the next five years.

"Strong first quarter results were driven by solid production and low all-in sustaining costs, with our $250-million annual sustainable efficiency program well advanced and already benefiting the bottom line," said David Garofalo, president and chief executive officer. "To deliver on the 20/20/20 growth plan, we are maintaining a laser focus on execution, while simultaneously optimizing our asset portfolio and driving down costs. In addition, we continue to enhance the strongest growth pipeline in the gold industry with the planned 60-million-ounce joint venture in the Maricunga district in Chile, financed by the sale of non-core assets. This transaction underlies our strategy of growing net asset value per share by delivering three [million] to four million ounces of sustainable, annual gold production from six to eight core camps."

                                 FINANCIAL AND OPERATING RESULTS
                              ($ millions, except where indicated)

                                          Three months ended March 31, 2017   Three months ended March 31, 2016
  
Gold production (1) (ounces)                                        655,000                             784,000
Gold sales (1) (ounces)                                             646,000                             799,000
Operating cash flows                                                   $227                                 $59
Adjusted operating cash flows (1, 2)                                   $269                                 $89
Net earnings                                                           $170                                 $80
Net earnings (per share)                                              $0.20                               $0.10
Byproduct cash costs (1, 3) (per ounce)                                $540                                $557
AISC (1, 3) (per ounce)                                                $800                                $836

Total cash costs on a byproduct basis for the first quarter of 2017 were $540 per ounce, compared with $557 per ounce for the first quarter of 2016. AISC for the first quarter of 2017 was $800 per ounce, compared with $836 per ounce in the first quarter of 2016. The decrease in AISC was primarily due to the company's focus on cost containment with lower corporate administration and sustaining capital costs and higher realized byproduct prices at Penasquito, partially offset by lower sales volumes.

As of March 31, 2017, the company had total liquidity of approximately $3.1-billion, including $200-million in cash, cash equivalents and short-term investments and $2.9-billion available on its credit facility.

Please refer to the company's financial statements, related notes, and accompanying management's discussion and analysis for a full review of its operations and projects.

About Goldcorp Inc.

Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.

Conference call and webcast:

Date:  April 27, 2017

Time:  10 a.m. PST

Dial-in:  1-800-355-4959 (toll-free) or 1-416-340-2216 (outside Canada and the United States)

Replay:  1-800-408-3053 (toll-free) or 1-905-694-9451 (outside Canada and the United States)

Replay end date:  May 28, 2017

Replay passcode:  conference ID No. 2296992

A live and archived webcast will also be available.

Footnotes:

(1) The company has included non-generally accepted accounting principle performance measures on an attributable basis (Goldcorp share) throughout this document. Attributable performance measures include the company's mining operations and projects and the company's share from Pueblo Viejo, Alumbrera and NuevaUnion.

(2) Adjusted operating cash flows comprise Goldcorp's share of operating cash flows, calculated on an attributable basis, to include the company's share of Alumbrera, Pueblo Viejo and NuevaUnion's operating cash flows. The company believes that, in addition to conventional measures prepared in accordance with generally accepted accounting principles, the company and certain investors use this information to evaluate the company's performance and ability to operate without reliance on additional external financing or use of available cash.

(3) Cash costs byproduct per ounce and AISC per ounce are non-generally accepted accounting principle financial performance measures.

We seek Safe Harbor.