##### 



Exhibit 99.2




NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS


NOTICE IS HEREBY GIVEN




| |     |                                                                                                                                                                                                                                                   
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) | To receive and consider the audited consolidated financial
    statements of the Corporation for the financial year ended
    December 31, 2004 and the report of the auditors thereon;                                                           
|
| | (b) | To elect directors of the Corporation for the ensuing year;                                                                                                                                                                                       
|
| | (c) | To appoint Deloitte & Touche LLP, Chartered Accountants, as
    auditors of the Corporation for the ensuing year and to
    authorize the directors to fix their remuneration;                                                                    
|
| | (d) | To consider and, if deemed appropriate, to pass, with or without
    variation, a resolution approving a new stock option plan of the
    Corporation, as more particularly described in the accompanying
    management information circular;    
|
| | (e) | To consider and, if deemed appropriate, to pass, with or without
    variation, a resolution approving a restricted share plan of the
    Corporation, as more particularly described in the accompanying
    management information circular; and
|
| | (f) | To transact such other business as may properly come before the
    Meeting or any adjournment thereof.                                                                                                                                           









DATED




| |                                      
| | -------------------------------------
| | By Order of the Board of Directors   
|
| | Ian Telfer                         
| |                                      
| | Ian W. Telfer                        
| | President and Chief Executive Officer



---



##### 





MANAGEMENT INFORMATION CIRCULAR




SOLICITATION OF PROXIES


This management information circular is furnished in
connection with the solicitation of proxies by the management of
Goldcorp Inc. (the Corporation) for use at the
annual and special meeting of shareholders (the
Meeting) of the Corporation to be held at the time
and place and for the purposes set forth in the accompanying
Notice of Meeting.




Securities Exchange Act of 1934,




APPOINTMENT AND REVOCATION OF PROXIES


A shareholder desiring to
appoint some other person, who need not be a shareholder, to
represent him at the Meeting, may do so by inserting such
persons name in the blank space provided in the enclosed
form of proxy or by completing another proper form of proxy and,
in either case, depositing the completed and executed proxy at
the office of the Corporations transfer agent indicated on
the enclosed envelope no later than 4:00 p.m. (Toronto
time) on May 12, 2005, or no later than 48 hours
(excluding Saturdays, Sundays and holidays) before the time of
any adjourned Meeting.






EXERCISE OF DISCRETION BY PROXIES


In the
absence of such direction, such shares will be voted in favour
of the passing of all the resolutions described below. The
enclosed form of proxy confers discretionary authority upon the
persons named therein with respect to amendments or variations
to matters identified in the Notice of Meeting and with respect
to other matters which may properly come before the Meeting.






---



##### 





VOTING BY NON-REGISTERED SHAREHOLDERS








| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (i)  | be given a voting instruction form which is not signed by the
    Intermediary and which, when properly completed and signed
    by the Non-Registered Shareholder and returned to the
    Intermediary or its service company, will constitute voting
    instructions (often called a voting instruction
    form) which the Intermediary must follow. Typically, the
    voting instruction form will consist of a one page pre-printed
    form. Sometimes, instead of the one page pre-printed form, the
    voting instruction form will consist of a regular printed proxy
    form accompanied by a page of instructions which contains a
    removable label with a bar-code and other information. In order
    for the form of proxy to validly constitute a voting instruction
    form, the Non-Registered Shareholder must remove the label from
    the instructions and affix it to the form of proxy, properly
    complete and sign the form of proxy and submit it to the
    Intermediary or its service company in accordance with the
    instructions of the Intermediary or its service company; or
|
| | (ii) | be given a form of proxy which has already been signed by the
    Intermediary (typically by a facsimile, stamped signature),
    which is restricted as to the number of shares beneficially
    owned by the Non-Registered Shareholder but which is otherwise
    not completed by the Intermediary. Because the Intermediary has
    already signed the form of proxy, this form of proxy is not
    required to be signed by the Non-Registered Shareholder when
    submitting the proxy. In this case, the Non-Registered
    Shareholder who wishes to submit a proxy should properly
    complete the form of proxy and deposit it with the
    Corporation, c/o Computershare Trust Company of Canada,
    100 University Avenue, 9th Floor, Toronto, Ontario
    M5J 2Y1.                                                                                                                                                                                                                                                                                                                                         

In either case, Non-Registered Shareholders should
carefully follow the instructions of their Intermediary,
including those regarding when and where the proxy or voting
instruction form is to be delivered.




2



---



##### 



VOTING SECURITIES AND PRINCIPAL HOLDERS THEREOF


Business Corporations Act




SUMMARY COMPENSATION TABLE




|                            |  |                        |        |                  |                        |       |                 |     |                 |                   |           |               |      |     |              |           |     |         |           |     |              |  |     |  |  |  |     |  |  |  |     |  |  | 
|--------------------------- |  | ---------------------- | ------ | ---------------- | ---------------------- | ----- | --------------- | --- | --------------- | ----------------- | --------- | ------------- | ---- | --- | ------------ | --------- | --- | ------- | --------- | --- | ------------ |  | --- |  |  |  | --- |  |  |  | --- |  |  | 
|                           
|                           
|                            |  | Annual Compensation(1) |        |                  | Long-Term Compensation |       |                 |    
|                            |  |                        |        |                  |                       
|                            |  |                        |        | Awards           |                        |       |                 |     | Payouts         |                   |           |              
|                            |  |                        |        |                  |                        |       |                
|                            |  |                        |        | Securities Under |                        |       | Shares or Units |     |                 |                   |           |              
|                            |  |                        |        | Other Annual     |                        |       | Options         |     |                 | Subject to Resale |           |               | LTIP |     |              | All Other |     |         |          
|Name and                    |  |                        | Salary |                  |                        | Bonus |                 |     | Compensation(2) |                   |           | Granted(3)(4) |      |     | Restrictions |           |     | Payouts |           |     | Compensation |  |     | 
|Principal Position          |  | Year                   |        |                  | ($)                    |       |                 | ($) |                 |                   | ($)       |               |      | (#) |              |           | ($) |         |           | ($) |              |  | ($) |  |  | 
|                           
|Robert R.
    McEwen(5)     |  |                        | 2004   |                  |                        |       | 309,838         |     |                 |                   | Nil       |               |      |     | 22,449       |           |     |         | 400,000   |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|Former Chief Executive      |  |                        | 2003   |                  |                        |       | 247,475         |     |                 |                   | Nil       |               |      |     | 19,081       |           |     |         | 800,000   |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|Officer                     |  |                        | 2002   |                  |                        |       | 220,845         |     |                 |                   | 1,900,000 |               |      |     | 16,308       |           |     |         | 2,000,000 |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|                           
|Brad J. Boland              |  |                        | 2004   |                  |                        |       | 118,971         |     |                 |                   | 38,585    |               |      |     | 3,087        |           |     |         | 40,200    |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|Vice President, Finance     |  |                        | 2003   |                  |                        |       | 86,239          |     |                 |                   | 28,548    |               |      |     | 4,304        |           |     |         | 60,000    |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|                            |  |                        | 2002   |                  |                        |       | 63,159          |     |                 |                   | 15,923    |               |      |     | 3,716        |           |     |         | 42,000    |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|                           
|R. Gregory
    Laing(6)     |  |                        | 2004   |                  |                        |       | 152,089         |     |                 |                   | 30,868    |               |      |     | 9,125        |           |     |         | 30,000    |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|Vice President, Legal       |  |                        | 2003   |                  |                        |       | 28,772          |     |                 |                   | Nil       |               |      |     | 1,726        |           |     |         | 75,000    |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|                            |  |                        | 2002   |                  |                        |       | N/A             |     |                 |                   | N/A       |               |      |     | N/A          |           |     |         | N/A       |     |              |  | N/A |  |  |  | N/A |  |  |  | N/A |  |  | 
|                           
|Gilles R. Filion            |  |                        | 2004   |                  |                        |       | 126,688         |     |                 |                   | 30,868    |               |      |     | 7,601        |           |     |         | 45,000    |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|Vice President, Exploration |  |                        | 2003   |                  |                        |       | 101,702         |     |                 |                   | 42,822    |               |      |     | 9,999        |           |     |         | 90,000    |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|                            |  |                        | 2002   |                  |                        |       | 82,214          |     |                 |                   | 38,214    |               |      |     | 8,025        |           |     |         | 160,000   |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|                           
|Michael L.
    Hoffman(7)   |  |                        | 2004   |                  |                        |       | 120,578         |     |                 |                   | 27,010    |               |      |     | 7,235        |           |     |         | 45,000    |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|Vice President, Projects    |  |                        | 2003   |                  |                        |       | 97,539          |     |                 |                   | 17,843    |               |      |     | 6,066        |           |     |         | 42,000    |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|                            |  |                        | 2002   |                  |                        |       | 63,690          |     |                 |                   | Nil       |               |      |     | 3,821        |           |     |         | 20,000    |     |              |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  | 
|                           
|                           



|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | All dollar amounts have been converted from Canadian dollars at
    an exchange rate of C$1.00 equals US$0.7717 for 2004, US$0.7137
    for 2003 and US$0.6369 for 2002.                                                                                                                                                                                                                                                                        
|   
|(2) | The Corporation pays its executive officers and certain members
    of its senior personnel a monthly payment equal to 6% of his or
    her monthly basic salary. This payment is in lieu of the
    Corporation maintaining a pension plan for such individuals. The
    aggregate value of other annual compensation for each Named
    Executive Officer does not exceed the lesser of $33,660 and 10%
    of his aggregate salary and bonus.
|   
|(3) | Options are exercisable for the purchase of Common Shares.                                                                                                                                                                                                                                                                                                                                                                                      
|   
|(4) | Share amounts have been restated to reflect the May 22,
    2002 two-for-one stock split.                                                                                                                                                                                                                                                                                                                                                       
|   
|(5) | Mr. McEwen resigned as Chief Executive Officer of the
    Corporation on February 24, 2005.                                                                                                                                                                                                                                                                                                                                                     
|   
|(6) | Mr. Laing joined the Corporation on October 15, 2003.                                                                                                                                                                                                                                                                                                                                                                                           
|   
|(7) | Mr. Hoffman joined the Corporation on March 4, 2002
    and was appointed Vice President, Projects on April 20,
    2004.                                                                                                                                                                                                                                                                                                                       

3



---



##### 



STOCK OPTIONS




Option Grants During the Financial Year Ended
December 31, 2004


|                   |  |            |         |  |               |  |              |              |  |                    |              |  |  |                 |       |  |  |  |                    |  |  | 
|------------------ |  | ---------- | ------- |  | ------------- |  | ------------ | ------------ |  | ------------------ | ------------ |  |  | --------------- | ----- |  |  |  | ------------------ |  |  | 
|                  
|                  
|                   |  | Percent of |         |  |               |  | Market Value |              |  |                   
|                   |  | Securities |         |  | Total Options |  |              |              |  | of Securities      |              |  | 
|                   |  | Under      |         |  | Granted to    |  |              |              |  | Underlying Options |              |  | 
|                   |  | Options    |         |  | Employees in  |  |              | Exercise or  |  |                    | on the Date  |  |  |                
|                   |  | Granted    |         |  | Financial     |  |              | Base Price   |  |                    | of Grant     |  |  |                
|Name               |  | (#)(1)     |         |  | Year(2)       |  |              | ($/Security) |  |                    | ($/Security) |  |  | Expiration Date |       |  | 
|                  
|Robert R. McEwen   |  |            | 400,000 |  |               |  | 30%          |              |  |                    | 13.02        |  |  |                 | 13.02 |  |  |  | September 23, 2014 |  |  | 
|                  
|Brad J. Boland     |  |            | 40,200  |  |               |  | 3%           |              |  |                    | 13.02        |  |  |                 | 13.02 |  |  |  | September 23, 2014 |  |  | 
|                  
|R. Gregory Laing   |  |            | 30,000  |  |               |  | 2%           |              |  |                    | 13.02        |  |  |                 | 13.02 |  |  |  | September 23, 2014 |  |  | 
|                  
|Gilles R. Filion   |  |            | 45,000  |  |               |  | 3%           |              |  |                    | 13.02        |  |  |                 | 13.02 |  |  |  | September 23, 2014 |  |  | 
|                  
|Michael L. Hoffman |  |            | 45,000  |  |               |  | 3%           |              |  |                    | 13.02        |  |  |                 | 13.02 |  |  |  | September 23, 2014 |  |  | 
|                  



|    |                                                                                                                                                        
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | The class of securities underlying all stock options is Common
    Shares.                                                                             
|   
|(2) | Based on the total number of options granted pursuant to the
    Goldcorp 2002 Plan during the financial year ended
    December 31, 2004 of 1,325,100.



Aggregated Option Exercises During the Financial Year Ended
December 31, 2004


and Year-End Option Values


|                   |  |                        |         |                                   |                                  |  |           |             |  |  |                   |  |  |             |           |  |                   |  |           |  |  |  |           |  |  | 
|------------------ |  | ---------------------- | ------- | --------------------------------- | -------------------------------- |  | --------- | ----------- |  |  | ----------------- |  |  | ----------- | --------- |  | ----------------- |  | --------- |  |  |  | --------- |  |  | 
|                  
|                  
|                   |  |                        |         | Value of Unexercised in-the-money |                                  |  |          
|                   |  | Unexercised Options at |         |                                   | Options at December 31, 2004 (1) |  |           |            
|                   |  | December 31, 2004      |         |                                   |                                  |  |          
|                   |  | Securities             |         |                                   | Aggregate                        |  |           |             |  | 
|                   |  | Acquired on            |         |                                   | Value                            |  |           |             |  |  |                  
|                   |  | Exercise               |         |                                   | Realized                         |  |           | Exercisable |  |  | Unexercisable (2) |  |  | Exercisable |           |  | Unexercisable (2) |  |           | 
|Name               |  | (#)                    |         |                                   | ($)                              |  |           | (#)         |  |  | (#)               |  |  | ($)         |           |  | ($)               |  |           | 
|                  
|Robert R. McEwen   |  |                        | Nil     |                                   |                                  |  | Nil       |             |  |  | 935,001           |  |  |             | 1,599,999 |  |                   |  | 3,252,861 |  |  |  | 3,728,337 |  |  | 
|                  
|Brad J. Boland     |  |                        | Nil     |                                   |                                  |  | Nil       |             |  |  | 48,000            |  |  |             | 94,200    |  |                   |  | 127,701   |  |  |  | 113,732   |  |  | 
|                  
|R. Gregory Laing   |  |                        | Nil     |                                   |                                  |  | Nil       |             |  |  | 25,000            |  |  |             | 80,000    |  |                   |  | Nil       |  |  |  | 27,550    |  |  | 
|                  
|Gilles R. Filion   |  |                        | 223,000 |                                   |                                  |  | 2,322,578 |             |  |  | 136,667           |  |  |             | 158,333   |  |                   |  | 466,520   |  |  |  | 294,029   |  |  | 
|                  
|Michael L. Hoffman |  |                        | 1,500   |                                   |                                  |  | 4,734     |             |  |  | 35,667            |  |  |             | 83,833    |  |                   |  | 95,421    |  |  |  | 98,108    |  |  | 
|                  
|                  



|    |                                                                                                                                                                                                                                                                                                                                                                                   
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | Calculated using the closing price of the Common Shares on the
    Toronto Stock Exchange (the TSX) on
    December 31, 2004 of C$18.06 less the exercise price of
    in-the-money stock options. These options have not been, and may
    never be, exercised and actual gains, if any, on exercise will
    depend on the value of the Common Shares on the date of exercise.
|   
|(2) | On February 17, 2005, in connection with the business
    combination with Wheaton River Minerals Ltd., all of these
    options vested and became exercisable by the respective Named
    Executive Officers.                                                                                                                                                                    

4



---



##### 



CHANGE OF CONTROL AGREEMENTS






COMPENSATION OF DIRECTORS


Standard Compensation Arrangements






Other Arrangements




Compensation for Services




DIRECTORS AND OFFICERS LIABILITY INSURANCE






| |     |                                                                                                                                                                                                                                     
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) | the total amount of insurance is $35,000,000 and, subject to the
    deductible portion referred to below, up to the full face amount
    of the policy is payable, regardless of the number of directors
    and officers involved;
|
| | (b) | the annual premium was $452,223. The policy does not specify
    that a part of the premium is paid in respect of either
    directors as a group or officers as a group; and                                                       
|
| | (c) | the policy provides for deductibles as follows:                                                                                                                                                                                     



| |      |                                                                                                  
| | ---- | -------------------------------------------------------------------------------------------------
| | (i)  | with respect to the directors and officers there is no
    deductible applicable; and            
|
| | (ii) | with respect to reimbursement of the Corporation there is a
    deductible per claim of $250,000.

5



---



##### 



COMPOSITION OF THE COMPENSATION COMMITTEE




REPORT ON EXECUTIVE COMPENSATION




Compensation Philosophy








| |     |                                                                                          
| | --- | -----------------------------------------------------------------------------------------
| | (a) | attract, retain and motivate executives critical to the success
    of the Corporation;  
|
| | (b) | provide fair, competitive and cost effective compensation
    programs to its executives;
|
| | (c) | link the interests of management with those of the Shareholders;
    and                 
|
| | (d) | provide rewards for outstanding corporate and individual
    performance.                



Base Salary






| |     |                                                         
| | --- | --------------------------------------------------------
| | (a) | the particular responsibilities related to the position;
|
| | (b) | salaries paid by comparable businesses;                 
|
| | (c) | the experience level of the executive officer; and      
|
| | (d) | his or her overall performance.                         

Bonus Payments








6



---



##### 



Long-Term Incentives






Chief Executive Officer Compensation








| |                            
| | ---------------------------
| | Michael L. Stein (Chairman)
| | Brian W. Jones             
| | Dr. Donald R. M. Quick     

7



---



##### 





PERFORMANCE GRAPH







|                               |  |      |        |  |      |  |        |      |  |  |        |  |  |      |        |  |      |  |        |  |  |  |        |  |  | 
|------------------------------ |  | ---- | ------ |  | ---- |  | ------ | ---- |  |  | ------ |  |  | ---- | ------ |  | ---- |  | ------ |  |  |  | ------ |  |  | 
|                              
|                              
|                               |  | 1999 |        |  | 2000 |  |        | 2001 |  |  | 2002   |  |  | 2003 |        |  | 2004 |  |        | 
|                              
|Goldcorp Inc.                  |  |      | 100.00 |  |      |  | 109.93 |      |  |  | 258.23 |  |  |      | 280.24 |  |      |  | 285.45 |  |  |  | 260.43 |  |  | 
|                              
|S&P/TSX Composite Index        |  |      | 100.00 |  |      |  | 107.41 |      |  |  | 93.90  |  |  |      | 82.22  |  |      |  | 104.20 |  |  |  | 119.29 |  |  | 
|                              
|S&P/TSX Composite Index  Gold |  |      | 100.00 |  |      |  | 89.14  |      |  |  | 109.56 |  |  |      | 137.94 |  |      |  | 160.87 |  |  |  | 148.2  |  |  | 
|                              
|                              

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION
PLANS




Equity Compensation Plan Information


|                                                          |  |                            |           |  |                         |   |                         |                       |  |  |         |  |  | 
|--------------------------------------------------------- |  | -------------------------- | --------- |  | ----------------------- | - | ----------------------- | --------------------- |  |  | ------- |  |  | 
|                                                         
|                                                         
|                                                          |  | Number of securities       |           |  |                        
|                                                          |  | Number of securities to be |           |  |                         |   | remaining available for |                       |  | 
|                                                          |  | issued upon exercise of    |           |  | Weighted-average price  |   |                         | future issuance under |  |  |        
|                                                          |  | outstanding options,       |           |  | of outstanding options, |   |                         | equity compensation   |  |  |        
|Plan Category                                             |  | warrants and rights(1)     |           |  | warrants and rights     |   |                         | plans(2)              |  |  |        
|                                                         
|Equity compensation plans approved by securityholders     |  |                            | 6,049,662 |  |                         | $ | 10.79                   |                       |  |  | 934,641 |  |  | 
|                                                         
|Equity compensation plans not approved by securityholders |  |                            | Nil       |  |                         |   | N/A                     |                       |  |  | N/A     |  |  | 
|                                                         
|Total                                                     |  |                            | 6,049,662 |  |                         | $ | 10.79                   |                       |  |  | 934,641 |  |  | 
|                                                         



|    |                                                                                                                                                
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------
|(1) | Represents the number of Common Shares reserved for issuance
    upon exercise of outstanding options.                                         
|   
|(2) | Based on the maximum number of Common Shares reserved for
    issuance upon exercise of options under the Goldcorp 2002 Plan
    of 18,000,000.

8



---



##### 



GOLDCORP 2002 STOCK OPTION PLAN








Securities Act






9



---



##### 





WHEATON 2001 SHARE OPTION PLAN




CORPORATE GOVERNANCE












10



---



##### 





The Board of Directors


Independence
of the Board of Directors


Disclosure
of Corporate Governance Practices






| |   |                                                                                                                                                                                                        
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | a non-executive Chairman has been elected;                                                                                                                                                             
|
| |  | there are no members of management on the Board, other than the
    President and Chief Executive Officer of the Corporation;                                                                          
|
| |  | when appropriate, members of management, including the President
    and Chief Executive Officer, are not present for the discussion
    and determination of certain matters at meetings of the Board;
|
| |  | under the by-laws of the Corporation, any two directors may call
    a meeting of the Board;                                                                                                           
|
| |  | the President and Chief Executive Officers compensation is
    considered, in his absence, by the Compensation Committee at
    least once a year; and                                                
|
| |  | in addition to the standing committees of the Board, independent
    committees are appointed from time to time, when appropriate.                                                                     

Chairman
of the Board




Meetings
of the Board of Directors




Directorships
with Other Reporting Issuers






| |                                                                                                                                                                                             
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Mr. Beatty  Bank of Montreal (since 1992), Inmet
    Mining (since 2003), First Service (since 1999), Husky Injection
    Molding Limited (since 2004) and Thistle Mining Inc. (since 1998)
|
| | Mr. John Bell  Taiga Forest Products (since 2003)                                                                                                                                          
|
| | Mr. Lawrence Bell  Miramar Mining Corporation
    (since 2003), International Forest Products Limited (since 1998)
    and Hardwoods Inc. (since 2004)                                     

11



---



##### 





| |                                                                                                                                                                                                                                                                                     
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Mr. Holtby  Rainmaker Income Fund (since 2003)                                                                                                                                                                                                                                     
|
| | Mr. Madero  Deere and Company (since 1997),
    Alfa, S.A. de C.V. (since 1984), Group Industrial Saltillo S.A.
    de C.V. (since 1985), Grupo Posadas S.A. de C.V. (since 1994),
    Grupo Mexico S.A. de C.V. (since 2000) and SanLuis Corporacion
    S.A. de C.V. (since 1979)
|
| | Mr. McEwen  Lexam Explorations Inc. (since 1993)                                                                                                                                                                                                                                   
|
| | Mr. Stein  CAP REIT (since 1997)                                                                                                                                                                                                                                                   
|
| | Mr. Telfer  Wheaton River Minerals Ltd. (since
    May 2001), BioteQ Environmental Technologies Inc. (since
    December 2002) and Silver Wheaton Corp. (since October 2004)                                                                                                       

Director
Investment Requirements




Expectations
of Management






Mandate of the Board of Directors






| |   |                                                                                                                                                    
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------
| |  | the strategic planning process of the Corporation;                                                                                                 
|
| |  | identifying the principal risks of the Corporations
    business and ensuring the implementation of appropriate systems
    to manage these risks;
|
| |  | succession planning, including appointing, training and
    monitoring senior management;                                                          
|
| |  | a communications policy for the Corporation to facilitate
    communications with investors and other interested parties; and                      
|
| |  | the integrity of the Corporations internal control and
    management information systems.                                                        





Position Descriptions




12



---



##### 



New Director Orientation and Continuing Education






Code of Business Conduct and Ethics








Nomination of Directors






13



---



##### 



Committees of the Board of Directors






| |   |                                                       
| | - | ------------------------------------------------------
| |  | the Audit Committee;                                  
|
| |  | the Compensation Committee;                           
|
| |  | the Nominating and Corporate Governance Committee; and
|
| |  | the Health, Safety and Environment Committee.         

ad hoc






| |   |                                                                                                                                                                                   
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | Audit Committee  Messrs. Jones (Chair), Goldsack and
    Stein [After March 17, 2005  Messrs. Holtby
    (Chair), L. Bell and Jones]                                            
|
| |  | Compensation Committee  Messrs. Stein (Chair), Jones
    and Dr. Quick [After March 17, 2005  Messrs.
    Stein (Chair), J. Bell, Madero and Dr. Quick]                         
|
| |  | Nominating and Corporate Governance Committee 
    Messrs. Jones (Chair), Beatty and Stein [After March 17,
    2005  Messrs. Beatty (Chair), L. Bell, Holtby and
    Stein]    
|
| |  | Health, Safety and Environment Committee  Messrs.
    Hutch (Chair), Beatty and Dr. Quick [After March 17,
    2005  Messrs. L. Bell (Chair), J. Bell, Madero
    and Dr. Quick]

Audit
Committee








| |   |                                                                                               
| | - | ----------------------------------------------------------------------------------------------
| |  | the integrity of the Corporations financial statements;                                      
|
| |  | the Corporations compliance with legal and regulatory
    requirements;                      
|
| |  | the qualifications and independence of the Corporations
    independent auditors; and        
|
| |  | the performance of the independent auditors and the
    Corporations internal audit function.



Compensation
Committee








| |   |                                                 
| | - | ------------------------------------------------
| |  | the members of the Board;                       
|
| |  | the Corporations Chief Executive Officer; and  
|
| |  | members of senior management of the Corporation.

Nominating
and Corporate Governance Committee




14



---



##### 







| |   |                                                                                                                                                                                      
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | identify and recommend individuals to the Board for nomination
    as members of the Board and its committees (other than the
    Nominating and Corporate Governance Committee); and
|
| |  | develop and recommend to the Board a set of corporate governance
    principles applicable to the Corporation.                                                                       

Health,
Safety and Environment Committee










| |   |                                                                                                                                                                                                                                               
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | review the corporate and operational health, safety and
    environmental policies, procedures and practices with management
    as to their appropriateness and effectiveness, and report to
    management and the Board on recommendations;
|
| |  | oversee that the health, safety and environmental policies,
    procedures and practices are in place, operational and supported
    by sufficient resources;                                                                                 
|
| |  | receive and review periodic operational and compliance reports
    from management in relation to health, safety and environmental
    matters, and report to management and the Board with any
    recommendations relating to those reports;
|
| |  | review material incidents relating to health, safety and
    environmental matters, and report to management and the Board
    with any recommendations relating to those incidents;                                                          
|
| |  | promote and support improvements to the Corporations
    health, safety and environmental performance and record; and                                                                                                                        
|
| |  | review health, safety and environmental audits.                                                                                                                                                                                               

Decisions Requiring Board of Directors Approval






| |   |                                                                           
| | - | --------------------------------------------------------------------------
| |  | the Corporations annual business plan and budget;                        
|
| |  | major acquisitions or dispositions by the Corporation; and                
|
| |  | transactions which are outside of the Corporations
    existing business.

Shareholder Communications






15



---



##### 



INDEBTEDNESS OF DIRECTORS AND EXECUTIVE OFFICERS




Table of Indebtedness of Directors and Executive Officers


|                                                                                                                                                                                                                  |  |                      |        |  |                   |  |        |                |  |  |       |     |  | 
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------------------- | ------ |  | ----------------- |  | ------ | -------------- |  |  | ----- | --- |  | 
|                                                                                                                                                                                                                 
|                                                                                                                                                                                                                 
|                                                                                                                                                                                                                  |  | Largest Amount       |        |  | Amount            |  |        |               
|                                                                                                                                                                                                                  |  | Outstanding During   |        |  | Outstanding       |  |        |               
|                                                                                                                                                                                                                  |  | Financial Year Ended |        |  | as at             |  |        |               
|                                                                                                                                                                                                                  |  | Involvement of       |        |  | December 31, 2004 |  |        | April 15, 2005 |  |  |      
|Name and Principal Position                                                                                                                                                                                       |  | the Corporation(1)   |        |  | ($)               |  |        | ($)            |  |  |      
|                                                                                                                                                                                                                 
|Eduardo LunaExecutive Vice President of the Corporation and Wheaton
    River Minerals Ltd., Chairman and Interim Chief Executive
    Officer of Silver Wheaton Corp., and President of Luismin, S.A.
    de C.V. |  |                      | Lender |  |                   |  | 30,337 | (2)            |  |  | Nil   |     |  | 
|                                                                                                                                                                                                                 
|Salvador GarciaVice President, Production of Luismin, S.A. de C.V.                                                                                                                                                |  |                      | Lender |  |                   |  | 13,728 | (2)            |  |  | 2,288 | (2) |  | 
|                                                                                                                                                                                                                 
|Luis MuruatoVice President, Development of Luismin, S.A. de C.V.                                                                                                                                                  |  |                      | Lender |  |                   |  | 16,016 | (2)            |  |  | 4,576 | (2) |  | 
|                                                                                                                                                                                                                 



|    |                                                                                                                                                                                                                                                                                                                                                                        
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | These loans were made by Servicios Administrativos, a subsidiary
    of Luismin, S.A. de C.V. which is a wholly-owned subsidiary of
    the Corporation.                                                                                                                                                                                                               
|   
|(2) | All indebtedness relates to loans to purchase automobiles made
    prior to July 30, 2002. The loans are interest-free,
    repayable on a monthly basis, mature in 2005 and are secured
    against the automobile purchased with the respective loan. Once
    these loans are repaid, no other loans will be extended to these
    officers of Luismin, S.A. de C.V.

Sarbanes-Oxley Act of 2002


INTEREST OF CERTAIN PERSONS IN MATTERS TO BE ACTED UPON




INTERESTS OF INFORMED PERSONS IN MATERIAL TRANSACTIONS




16



---



##### 



ELECTION OF DIRECTORS


Unless authority to do so is withheld,
the persons named in the accompanying proxy intend to vote for
the election of the Nominees.




|                                                  |  |                                                                                                                       |                      |  |                   |                     |  |                     |                        |      |  |  |  | 
|------------------------------------------------- |  | --------------------------------------------------------------------------------------------------------------------- | -------------------- |  | ----------------- | ------------------- |  | ------------------- | ---------------------- | ---- |  |  |  | 
|                                                  |  |                                                                                                                       |                      |  |                   | Number of Common    | 
|                                                  |  |                                                                                                                       |                      |  |                   | Shares Beneficially | 
|                                                  |  |                                                                                                                       |                      |  |                   | Owned, Directly or  | 
|Name,                                             |  |                                                                                                                       |                      |  | Year First Became |                     |  | Indirectly, or Over |                       
|Province/ State and                               |  |                                                                                                                       |                      |  | a Director of     |                     |  | Which Control or    |                       
|Country of Residence                              |  |                                                                                                                       | Principal Occupation |  |                   | the Corporation     |  |                     | Direction is Exercised |     
|                                                  |  |                                                                                                                       |                      |  |                   |                     |  |                     |                        |     
|David R. Beatty(3)Ontario, Canada                 |  | Chairman and Chief Executive Officer of Beatinvest Limited (an investment company)                                    |                      |  | 1994              |                     |  |                     | 32,000                 | (5) 
|                                                 
|John P. Bell(2)(4)British Columbia, Canada        |  | Principal of AKWABA Services Ltd.                                                                                     |                      |  | 2005              |                     |  |                     | Nil                    | (6) 
|                                                 
|Lawrence I. Bell(1)(3)(4)British Columbia, Canada |  | Non-Executive Chairman of the British Columbia Hydro and Power Authority                                              |                      |  | 2005              |                     |  |                     | 10,000                 | (7) 
|                                                 
|Douglas Holtby(1)(3)British Columbia, Canada      |  | President and Chief Executive Officer of Arbutus Road Investments Inc. and MKC Capital (private investment companies) |                      |  | 2005              |                     |  |                     | 37,500                 | (8) 
|                                                 
|Brian W. Jones(1)Missouri, United States          |  | President and Chief Executive Officer of New Heights International, Inc. (a private investment company)               |                      |  | 1990              |                     |  |                     | 5,000                  | (9) 
|                                                 
|Antonio Madero(2)(4)Mexico City, Mexico           |  | Chairman and Chief Executive Officer of SANLUIS Corporación, S.A. de C.V.                                             |                      |  | 2005              |                     |  |                     | Nil                    | (10)
|                                                 
|Robert R. McEwenOntario, Canada                   |  | Non-Executive Chairman of Goldcorp                                                                                    |                      |  | 1986              |                     |  |                     | 6,434,484              | (11)
|                                                 
|Dr. Donald R.M. Quick(2)(4)Ontario, Canada        |  | Private Investor                                                                                                      |                      |  | 2000              |                     |  |                     | 9,500                  | (12)

17



---



##### 



|                                      |  |                                                                                                                           |                      |  |                   |                     |  |                     |                        |      |  |  |  | 
|------------------------------------- |  | ------------------------------------------------------------------------------------------------------------------------- | -------------------- |  | ----------------- | ------------------- |  | ------------------- | ---------------------- | ---- |  |  |  | 
|                                      |  |                                                                                                                           |                      |  |                   | Number of Common    | 
|                                      |  |                                                                                                                           |                      |  |                   | Shares Beneficially | 
|                                      |  |                                                                                                                           |                      |  |                   | Owned, Directly or  | 
|Name,                                 |  |                                                                                                                           |                      |  | Year First Became |                     |  | Indirectly, or Over |                       
|Province/ State and                   |  |                                                                                                                           |                      |  | a Director of     |                     |  | Which Control or    |                       
|Country of Residence                  |  |                                                                                                                           | Principal Occupation |  |                   | the Corporation     |  |                     | Direction is Exercised |     
|                                      |  |                                                                                                                           |                      |  |                   |                     |  |                     |                        |     
|Michael L. Stein(2)(3)Ontario, Canada |  | Chairman and Chief Executive Officer of the MPI Group (a private investment company) and Executive Chairman of CAP REIT   |                      |  | 2000              |                     |  |                     | 20,000                 | (13)
|                                     
|Ian W. TelferBritish Columbia, Canada |  | President and Chief Executive Officer of Goldcorp and Chairman and Chief Executive Officer of Wheaton River Minerals Ltd. |                      |  | 2005              |                     |  |                     | 85,000                 | (14)






|     |                                                                                                                                                                                                                          
|---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1)  | Member of the Audit Committee.                                                                                                                                                                                           
|    
|(2)  | Member of the Compensation Committee.                                                                                                                                                                                    
|    
|(3)  | Member of the Nominating and Corporate Governance Committee.                                                                                                                                                             
|    
|(4)  | Member of the Health, Safety and Environment Committee.                                                                                                                                                                  
|    
|(5)  | Mr. Beatty also owns options to purchase 72,000 Common
    Shares.                                                                                                                                                       
|    
|(6)  | Following the completion of the plan of arrangement (the
    Plan of Arrangement) with Wheaton River Minerals
    Ltd. on or about April 15, 2005, Mr. John Bell will
    own options to purchase 62,500 Common Shares.
|    
|(7)  | Following the completion of the Plan of Arrangement,
    Mr. Lawrence Bell will own options to purchase 77,500
    Common Shares.                                                                                        
|    
|(8)  | Following the completion of the Plan of Arrangement,
    Mr. Holtby will also own options to purchase 137,500 Common
    Shares and warrants to purchase 12,500 Common Shares.                                           
|    
|(9)  | Mr. Jones also owns options to purchase 56,000 Common
    Shares.                                                                                                                                                        
|    
|(10) | Following the completion of the Plan of Arrangement,
    Mr. Madero will own options to purchase 137,500 Common
    Shares.                                                                                              
|    
|(11) | Mr. McEwen also owns options to purchase 2,535,000 Common
    Shares.                                                                                                                                                    
|    
|(12) | Dr. Quick also owns options to purchase 72,750 Common
    Shares.                                                                                                                                                        
|    
|(13) | Mr. Stein also owns options to purchase 135,000 Common
    Shares.                                                                                                                                                       
|    
|(14) | Following the completion of the Plan of Arrangement,
    Mr. Telfer will also own options to purchase 1,575,000
    Common Shares and warrants to purchase 8,750 Common Shares.                                          





David R. Beatty  Director.


John P. Bell  Director.


Lawrence I. Bell  Director.


18



---



##### 





Douglas M. Holtby  Director.


Brian W. Jones  Director.


Antonio Madero  Director.


Robert R. McEwen  Director.


Dr. Donald R.M. Quick  Director.


Michael L. Stein  Director.


Ian W. Telfer  Chairman, Chief Executive
Officer and Director.


Cease Trade Orders or Bankruptcies


Bankruptcy and Insolvency Act


19



---



##### 





APPOINTMENT OF AUDITOR




Continuous Disclosure
Obligations






APPROVAL OF 2005 STOCK OPTION PLAN










20



---



##### 









Unless otherwise
indicated, the persons designated as proxyholders in the
accompanying form of proxy will vote the Common Shares
represented by such form of proxy, properly executed, for the
2005 Plan Resolution.








| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 1. | The adoption of the 2005 Stock Option Plan by the Corporation in
    the form attached to the management information circular of the
    Corporation dated April 15, 2005 as
    Schedule D and the reservation for issuance
    under such plan of 12,500,000 Common Shares is hereby
    authorized and approved;                                                                                                                                                                                                                                            
|
| | 2. | the Corporation be and it is hereby authorized and directed to
    issue such Common Shares pursuant to the 2005 Stock Option Plan
    as fully paid and non-assessable shares of the
    Corporation; and                                                                                                                                                                                                                                                                                                                                                       
|
| | 3. | any director or officer of the Corporation is hereby authorized
    and directed, acting for, in the name of and on behalf of the
    Corporation, to execute or cause to be executed, under the seal
    of the Corporation or otherwise, and to deliver or cause to be
    delivered, such other documents and instruments, and to do or
    cause to be done all such other acts and things, as may in the
    opinion of such director or officer of the Corporation be
    necessary or desirable to carry out the intent of the foregoing
    resolutions.

APPROVAL OF RESTRICTED SHARE PLAN








21



---



##### 















Unless otherwise
indicated, the persons designated as proxyholders in the
accompanying form of proxy will vote the Common Shares
represented by such form of proxy, properly executed, for the
Restricted Share Plan Resolution.








| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 1. | The adoption of the Restricted Share Plan by the Corporation in
    the form attached to the management information circular of the
    Corporation dated April 15, 2005 as
    Schedule E and the reservation for issuance
    under such plan of 500,000 Common Shares is hereby
    authorized and approved;                                                                                                                                                                                                                                          
|
| | 2. | the Corporation be and it is hereby authorized and directed to
    issue such Common Shares pursuant to the Restricted Share Plan
    as fully paid and non-assessable shares of the
    Corporation; and                                                                                                                                                                                                                                                                                                                                                  
|
| | 3. | any director or officer of the Corporation is hereby authorized
    and directed, acting for, in the name of and on behalf of the
    Corporation, to execute or cause to be executed, under the seal
    of the Corporation or otherwise, and to deliver or cause to be
    delivered, such other documents and instruments, and to do or
    cause to be done all such acts and things, as may in the opinion
    of such director or officer of the Corporation be necessary or
    desirable to carry out the intent of the foregoing
    resolutions.



ADDITIONAL INFORMATION




22



---



##### 



DIRECTORS APPROVAL






| |                                      
| | -------------------------------------
| | BY ORDER OF THE BOARD OF DIRECTORS   
|
| | Ian Telfer                         
| |                                      
| | Ian W. Telfer                        
| | President and Chief Executive Officer





23



---



##### 



SCHEDULE A


STATEMENT OF CORPORATE GOVERNANCE PRACTICES




|   |  |                                                                                                                                                                              |  |          |     |  |                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|-- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------- | --- |  | ----------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |  |                                                                                                                                                                              |  | Does     |     |  |                                          
|   |  |                                                                                                                                                                              |  | Goldcorp |     |  |                                          
|   |  | TSX Corporate Governance Guidelines                                                                                                                                          |  | Align?   |     |  | Goldcorps Corporate Governance Practices
|   |  |                                                                                                                                                                              |  |          |     |  |                                          
|  
|1. |  | The board of directors of every corporation should explicitly
    assume responsibility for the stewardship of the corporation.                                              |  |          | YES |  |                                           | The Board of Directors has responsibility for stewardship of the
    Corporation by, among other things, supervising the management
    of the Corporations business and affairs, with the goal of
    enhancing shareholder value.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |  | As part of the overall stewardship responsibility, the board of
    directors should assume responsibility for the following matters:                                        |  |          |     |  |                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|  
|a. |  | adoption of a strategic planning process and approval of a
    strategic plan which takes into account, among other things, the
    opportunities and risks of the business; |  |          | YES |  |                                           | The Board of Directors is responsible for the oversight and
    review of the strategic planning process of the Corporation.
    Strategic issues facing the Corporation are reviewed with
    management and addressed by the Board of Directors at its
    regularly scheduled meetings and at meetings specifically called
    for such purpose.                                                                                                                                                                                                                                                                                                                                                                                                                      
|  
|b. |  | the identification of the principal risks of the
    corporations business and ensuring implementation of
    appropriate systems to manage these risks;                    |  |          | YES |  |                                           | The Board of Directors is responsible for identifying the
    principal risks of the Corporations business and ensuring
    implementation of appropriate systems to manage these risks. The
    Board of Directors, directly or through its committees,
    periodically reviews specifically identified risks. The Audit
    Committee, among other things, assists the Board of
    Directors oversight of the integrity of the
    Corporations financial statements. The Health, Safety and
    Environment Committee, among other things, has the authority and
    responsibility for ensuring that appropriate and effective
    health, safety and environmental policies and procedures are in
    place, operational and supported by sufficient resources.
|  
|c. |  | succession planning, including appointing, training and
    monitoring senior management;                                                                                    |  |          | YES |  |                                           | A key responsibility of the Board of Directors is overseeing and
    reviewing the development of succession planning by the
    Corporation. The Nominating and Corporate Governance Committee,
    among other things, has the authority and responsibility for
    identifying and recommending individuals to the Board of
    Directors for nomination as members of the Board of Directors
    and its committees (other than the Nominating and Corporate
    Governance Committee).                                                                                                                                                                                                                                                                              

A-1



---



##### 



|   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  |          |     |  |                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|-- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------- | --- |  | ----------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  | Does     |     |  |                                          
|   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  | Goldcorp |     |  |                                          
|   |  | TSX Corporate Governance Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | Align?   |     |  | Goldcorps Corporate Governance Practices
|   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  |          |     |  |                                          
|d. |  | a communications policy for the corporation; and                                                                                                                                                                                                                                                                                                                                                                                                                                    |  |          | YES |  |                                           | The Board of Directors has authorized management to represent
    the Corporation in its communications with shareholders and
    members of the investment community. Adequate structures are in
    place to ensure effective, timely and non-selective
    communications between the Corporation and shareholders, members
    of the investment community and securities and other regulatory
    agencies.                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|  
|e. |  | the integrity of the corporations internal control and
    management information systems.                                                                                                                                                                                                                                                                                                                                                                                         |  |          | YES |  |                                           | The Board of Directors, through the Audit Committee, is
    responsible for the performance of the Corporations
    internal audit function.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|  
|  
|2. |  | The board of directors of every corporation should be
    constituted with a majority of individuals who qualify as
    unrelated directors.                                                                                                                                                                                                                                                                                                                                        |  |          | YES |  |                                           | As used herein, the term unrelated director means a
    director who is independent of management and is free from any
    interest and any business or other relationship which could, or
    could reasonably be perceived to, materially interfere with the
    directors ability to act with a view to the best interests
    of the Corporation, other than interests and relationships
    arising from shareholding.
    Based on the information provided by the nominees for election
    as directors of the Corporation, the Board of Directors has
    determined that, with the exception of Mr. Ian W. Telfer,
    President and Chief Executive Officer of the Corporation, and
    Mr. Robert R. McEwen, the non-executive Chairman and former
    Chief Executive Officer of the Corporation, all of the nominees
    for election as directors are unrelated directors.
|  
|  
|3. |  | The application of the definition of unrelated
    director to the circumstances of each individual director
    should be the responsibility of the board of directors which
    will be required to disclose on an annual basis whether the
    board of directors has a majority of unrelated directors. The
    board of directors will also be required to disclose on an
    annual basis the analysis of the application of the principles
    supporting this conclusion. |  |          | YES |  |                                           | The Board of Directors, directly and through the Nominating and
    Corporate Governance Committee, has the responsibility to review
    annually the relationships, if any, between the Board of
    Directors, the Corporation and management.
    Based on the information provided by the nominees for election
    as directors of the Corporation, the Board of Directors has
    determined that, with the exception of Mr. Ian W. Telfer,
    President and Chief Executive Officer of the Corporation, and
    Mr. Robert R. McEwen, non-executive Chairman and former
    Chief Executive Officer of the Corporation, all of the nominees
    for election as directors are unrelated directors.                                                                                                                                                                                  

A-2



---



##### 



|   |  |                                                                                                                                                                                                                                                                                                                                                             |  |          |     |  |                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|-- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------- | --- |  | ----------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |  |                                                                                                                                                                                                                                                                                                                                                             |  | Does     |     |  |                                          
|   |  |                                                                                                                                                                                                                                                                                                                                                             |  | Goldcorp |     |  |                                          
|   |  | TSX Corporate Governance Guidelines                                                                                                                                                                                                                                                                                                                         |  | Align?   |     |  | Goldcorps Corporate Governance Practices
|   |  |                                                                                                                                                                                                                                                                                                                                                             |  |          |     |  |                                          
|4. |  | The board of directors of every corporation should appoint a
    committee of directors composed exclusively of outside
    directors, a majority of whom are unrelated directors, with the
    responsibility for proposing to the full board of directors new
    nominees to the board of directors and for assessing directors
    on an ongoing basis. |  |          | YES |  |                                           | The Nominating and Corporate Governance Committee, among other
    things, has the authority and responsibility for identifying and
    recommending individuals to the Board of Directors for
    nomination as members of the Board of Directors and its
    committees (other than the Nominating and Corporate Governance
    Committee) and for establishing procedures for the oversight of
    the Board of Directors and its committees.
    All members of the Nominating and Corporate Governance Committee
    are unrelated directors.                                                                                                                                                                                  
|  
|  
|5. |  | Every board of directors should implement a process to be
    carried out by the nominating committee or other appropriate
    committee for assessing the effectiveness of the board of
    directors as a whole, the committees of the board of directors
    and the contribution of individual directors.                                               |  |          | YES |  |                                           | The Nominating and Corporate Governance Committee, among other
    things, has the authority and responsibility for developing and
    recommending to the Board of Directors a set of corporate
    governance principles applicable to the Corporation and for
    establishing procedures for the oversight of the Board of
    Directors and its committees.                                                                                                                                                                                                                                                                                                                                                                      
|  
|  
|6. |  | Every corporation, as an integral element for the process of
    appointing new directors, should provide an orientation and
    education program for new recruits to the board of directors.                                                                                                                                                              |  |          | YES |  |                                           | The Nominating and Corporate Governance Committee is responsible
    for establishing an orientation and education program for new
    members of the Board of Directors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|  
|  
|7. |  | Every board of directors should examine its size and undertake,
    where appropriate, a program to establish a board size which
    facilitates effective decision-making.                                                                                                                                                                                 |  |          | YES |  |                                           | The Nominating and Corporate Governance Committee is responsible
    for making recommendations to the Board of Directors from time
    to time as to changes that the Nominating and Corporate
    Governance Committee believes to be desirable to the size of the
    Board of Directors or any committee of the Board of
    Directors.
    The Board of Directors, based on a recommendation from the
    Nominating and Corporate Governance Committee, has determined
    that the present size of the Board of Directors (as proposed for
    election at the Meeting in the management information circular
    to which this Schedule A is attached) and its
    committees are appropriate for effective decision-making.

A-3



---



##### 



|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |          |     |  |                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------- | --- |  | ----------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  | Does     |     |  |                                          
|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  | Goldcorp |     |  |                                          
|    |  | TSX Corporate Governance Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  | Align?   |     |  | Goldcorps Corporate Governance Practices
|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |          |     |  |                                          
|8.  |  | The board of directors should review the adequacy and form of
    the compensation of directors and ensure the compensation
    realistically reflects the responsibilities and risk involved in
    being a director.                                                                                                                                                                                                                                                                            |  |          | YES |  |                                           | The Nominating and Corporate Governance Committee, among other
    things, has the authority and responsibility for making
    recommendations to the Board of Directors relating to the
    compensation of members of the Board of Directors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   
|   
|9.  |  | Subject to Guideline 13, committees of the board of directors
    should generally be composed of outside directors, a majority of
    whom are unrelated directors.                                                                                                                                                                                                                                                                                                                              |  |          | YES |  |                                           | All members of standing committees of the Board of Directors are
    unrelated directors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   
|   
|10. |  | Every board of directors should expressly assume responsibility
    for, or assign to a committee of directors, the general
    responsibility for developing the corporations approach to
    governance issues.                                                                                                                                                                                                                                                                                |  |          | YES |  |                                           | The Nominating and Corporate Governance Committee, among other
    things, has the authority and responsibility for developing and
    recommending to the Board of Directors a set of corporate
    governance principles applicable to the Corporation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|   
|   
|11. |  | The board of directors, together with the Chief Executive
    Officer, should develop position descriptions for the board of
    directors and for the Chief Executive Officer, including the
    definition of the limits to managements responsibilities.
    In addition, the board of directors should approve or develop
    the corporate objectives which the Chief Executive Officer is
    responsible for meeting and assess the Chief Executive Officer
    against these objectives. |  |          | YES |  |                                           | The Nominating and Corporate Governance Committee is responsible
    for developing position descriptions for the Board of Directors
    and the President and Chief Executive Officer of the Corporation
    and for delineating any limits to managements
    responsibilities.
    The Compensation Committee, in relation to the President and
    Chief Executive Officer, is responsible for making
    recommendations to the Board of Directors in relation to the
    corporate goals and objectives relevant to the compensation of
    the President and Chief Executive Officer, evaluating the
    performance of the President and Chief Executive Officer in
    light of those goals and objectives and setting the President
    and Chief Executive Officers compensation level based on
    this evaluation.

A-4



---



##### 



|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  |          |     |  |                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------- | --- |  | ----------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  | Does     |     |  |                                          
|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  | Goldcorp |     |  |                                          
|    |  | TSX Corporate Governance Guidelines                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  | Align?   |     |  | Goldcorps Corporate Governance Practices
|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  |          |     |  |                                          
|12. |  | Every board of directors should implement structures and
    procedures which ensure that the board of directors can function
    independently of management. The chair or lead director should
    ensure that the board of directors carries out its
    responsibilities effectively which will involve the board of
    directors meeting on a regular basis without management present
    and may involve assigning the responsibility for administering
    the board of directors relationship to management to a
    committee of the board of directors.                                                                                                                                                  |  |          | YES |  |                                           | To facilitate the functioning of the Board of Directors
    independently of management, the following structures and
    processes are in place: the Board of Directors is headed by a
    non-executive Chairman; there are no members of management on
    the Board of Directors other than the President and Chief
    Executive Officer; when appropriate, members of management,
    including the President and Chief Executive Officer, are not
    present for the discussion and determination of certain matters
    at meetings of the Board of Directors; under the by-laws of the
    Corporation, any two directors may call a meeting of the Board
    of Directors: the President and Chief Executive Officers
    compensation is considered, in his absence, by the Compensation
    Committee at least once a year; and, in addition to the four
    standing committees of the Board of Directors, independent
    committees are appointed from time to time, when appropriate.
|   
|   
|13. |  | The audit committee of every board of directors should be
    composed only of unrelated directors. All of the members of the
    audit committee should be financially literate and at least one
    member should have accounting or related financial expertise.
    Each board of directors shall determine the definition of and
    criteria for financial literacy and accounting
    or related financial expertise. The board of directors
    should adopt a charter for the audit committee which sets out
    the roles and responsibilities of the audit committee which
    should be specifically defined so as to provide appropriate
    guidance to audit committee members as to their duties. |  |          | YES |  |                                           | All members of the Audit Committee are unrelated
    directors.
    The Board of Directors has adopted the definitions of
    financial literacy and accounting or related
    financial expertise, as set out in the practice notes of
    the TSX Guidelines. Based on information provided to the Board
    of Directors, the Board of Directors has determined that all
    members of the Audit Committee are financially
    literate and at least one member has accounting or
    related financial expertise.
    The Board of Directors has adopted and approved a charter for
    the Audit Committee.                                                                                                                                                                                                                                                                                                                                                                            
|    |  | The audit committee should have direct communication channels
    with the internal and external auditors to discuss and review
    specific issues as appropriate. The audit committee duties
    should include oversight responsibility for management reporting
    on internal control.                                                                                                                                                                                                                                                                                                                                                                                                                          |  |          |     |  |                                           | The Audit Committee, among other things, assists the Board of
    Directors oversight of the performance of the
    Corporations internal audit function.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

A-5



---



##### 



|    |  |                                                                                                                                                                                                                                                                                                                               |  |          |     |  |                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------- | --- |  | ----------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  |                                                                                                                                                                                                                                                                                                                               |  | Does     |     |  |                                          
|    |  |                                                                                                                                                                                                                                                                                                                               |  | Goldcorp |     |  |                                          
|    |  | TSX Corporate Governance Guidelines                                                                                                                                                                                                                                                                                           |  | Align?   |     |  | Goldcorps Corporate Governance Practices
|    |  |                                                                                                                                                                                                                                                                                                                               |  |          |     |  |                                          
|14. |  | The board of directors should implement a system which enables
    an individual director to engage an outside adviser at the
    Corporations expense, in appropriate circumstances. The
    engagement of the outside adviser should be subject to the
    approval of an appropriate committee of the board of directors. |  |          | YES |  |                                           | Each of the Audit Committee, the Nominating and Corporate
    Governance Committee, the Compensation Committee, and the
    Health, Safety and Environment Committee have, and each
    individual director has, the authority, at the expense of the
    Corporation, to select, retain and approve the fees and other
    retention terms of special legal counsel or other experts or
    consultants, as it or he deems appropriate, without seeking
    approval of the Board of Directors or management, but with the
    consent of the Nominating and Corporate Governance Committee.

A-6



---



##### 



SCHEDULE B


GOLDCORP INC.


MANDATE FOR BOARD OF DIRECTORS


Primary Mandate


Business Corporations Act




Composition and Organization of Board




|   |                       
|-- | ----------------------
|A. | Selection of Directors



| |                                                                                                                                                                                                                                                                                                                                                                                                                            
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The Nominating and Corporate Governance Committee of the board
    periodically reviews the desired size of the board, the need for
    recruitment of new board members and the appropriateness of the
    experience of nominees. After seeking input and suggestions, the
    Committee assesses any proposal for a new member prior to the
    proposal being submitted to the board and, in turn, to
    shareholders.
|
| | All new members are briefed on the structure of the
    Corporation, its business and administration, its financial
    affairs, the securities and regulatory environment, reporting
    requirements and business as a whole. A Directors Manual
    will be provided to each new member.                                                                                                                               



|   |                    
|-- | -------------------
|B. | Membership Criteria



| |                                                                                                                                                                                                                                                                                                                                        
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Nominees must have qualifications prescribed for directors
    under applicable corporate and securities law of the Province of
    Ontario. They should have an appropriate mix of skills,
    knowledge and experience in business. Nominees selected should
    be able to commit sufficient time for the business of
    the board.
|
| | All directors are required to act honestly and in good faith
    and with loyalty in the interests of the Corporation and its
    shareholders generally.                                                                                                                                                                              



|   |             
|-- | ------------
|C. | Independence



| |                                                                                                                                                                                                                                                                                            
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | A majority of the board shall be composed of directors who, in
    the reasonable opinion of the board, are unrelated
    under the Guidelines of the Toronto Stock Exchange and
    independent as such term is used under New York Stock
    Exchange rules and the Sarbanes-Oxley Act.



|   |                           
|-- | --------------------------
|D. | Chairman and Lead Director



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                            
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The board shall, until otherwise determined, appoint a Chairman
    from among the directors. In the event that the Chairman is an
    officer of the Corporation, the board shall also appoint a lead
    director from among the non-administrative or non-related
    directors to Chair the board meetings where the administrative
    and advisory personnel are absent and to assume other functions
    appropriate to the role of a lead director.



|   |               
|-- | --------------
|E. | Retirement Age



| |                                                                                                                                                                                                               
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | A director who has attained of 75 years of age prior to
    the annual meeting of shareholders in any year, shall retire
    from office at such annual meeting, except as decided otherwise
    by the board.



|   |               
|-- | --------------
|F. | Term of Office



| |                                                                                                                                                                                           
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The directors are elected by the shareholders at each annual
    meeting and the term of office expires at the next annual
    meeting of the shareholders or when a successor is elected.

B-1



---



##### 



Meetings of the Board








in camera


Implementation






| |   |                                                                                                                                                                                                                                                                                                                                          
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | approves, and oversees the implementation of, the
    Corporations strategy and business plan including the
    scope of business activities, development of lines of business,
    entering into of administrative, custodial and other service
    agreements, as well as any significant divestures of assets by
    the Corporation;
|
| |  | reviews, with input from the Audit Committee, the financial
    performance and financial reporting of the Corporation and
    assesses the scope, implementation and integrity of the
    Corporations internal control systems;                                                                                                       
|
| |  | identifies and assesses the principal risks of the business of
    the Corporation;                                                                                                                                                                                                                                                      
|
| |  | oversees the public communications policy and shareholder
    relations activities of the Corporation;                                                                                                                                                                                                                                   
|
| |  | appoints the officers of the Corporation, ensuring that they are
    of the calibre required for their roles and planning their
    succession as appropriate from time to time;                                                                                                                                                         
|
| |  | adopts a strategic planning process and thereafter reviews and
    approves on an annual basis, the overall strategy of the
    Corporation, all of which is developed in the first instance for
    consideration by management;                                                                                                        
|
| |  | through the Nominating and Corporate Governance Committee,
    assesses and selects nominees for election as directors; ensures
    that new directors are provided with adequate orientation; and
    develops the Corporations approach to corporate governance
    issues;                                                           
|
| |  | establishes and oversees sub-committees of the board as
    appropriate, approves their mandates and approves the
    compensation of their members; and                                                                                                                                                                                 
|
| |  | reviews the performance of senior management of the Corporation
    in line with corporate policies in effect from time to time and
    the Corporations strategy and objectives; and assesses the
    performance of the board of directors.                                                                                           





B-2



---



##### 



Resources








B-3



---



##### 



SCHEDULE C


GOLDCORP. INC.


NOTICE OF CHANGE OF AUDITOR


Continuous
Disclosure Obligations


7








DATED




| |                        
| | -----------------------
| | GOLDCORP INC.          
|
| | Peter Barnes         
| |                        
| | Peter Barnes           
| | Chief Financial Officer

C-1



---



##### 


































Re: Notice of Change of Auditors of Goldcorp Inc.

















C-2



---



##### 








British Columbia Securities Commission


Alberta Securities Commission


Saskatchewan Securities Commission


Manitoba Securities Commission


Ontario Securities Commission


Commission des valeurs mobilières du Québec


New Brunswick Securities Commission


Nova Scotia Securities Commission


Department of Community Affairs & Attorney General,


Prince Edward Island


Securities Division, Department of Government Services and
Lands,


Newfoundland


Registrar of Securities, Northwest Territories


Registrar of Securities, Government of Yukon


Registrar of Securities, Nunavut






|    |                            
|--- | ---------------------------
|Re: | Goldcorp Inc. (the Company)












cc: TSX




| |                
| | ---------------
| | DELOITTE FOOTER

C-3



---



##### 



SCHEDULE D


GOLDCORP INC.


2005 STOCK OPTION PLAN


APRIL 15, 2005


ARTICLE 1


GENERAL




|    |        
|--- | -------
|1.1 | Purpose





|    |               
|--- | --------------
|1.2 | Administration



| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) | This Plan will be administered by the Board or a committee of
    the Board duly appointed for this purpose by the Board and
    consisting of not less than three directors. If a committee is
    appointed for this purpose, all references to the term
    Board will be deemed to be references to the
    committee.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|
| | (b) | Subject to the limitations of this Plan, the Board has the
    authority: (i) to grant Options to purchase Shares to
    Eligible Persons; (ii) to determine the terms, including
    the limitations, restrictions and conditions, if any, upon such
    grants; (iii) to interpret this Plan and to adopt, amend
    and rescind such administrative guidelines and other rules and
    Regulations relating to this Plan as it may from time to time
    deem advisable, subject to required prior approval by any
    applicable regulatory authority; and (iv) to make all other
    determinations and to take all other actions in connection with
    the implementation and administration of this Plan as it may
    deem necessary or advisable. The Boards guidelines, rules,
    Regulations, interpretations and determinations will be
    conclusive and binding upon all parties.



|    |               
|--- | --------------
|1.3 | Interpretation





| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | A. | Affiliate means any corporation that is an
    affiliate of the Corporation as defined in the Securities
    Act (Ontario);                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|
| | B. | Affiliated Entity means a person or
    corporation which is an affiliated entity of the Corporation as
    defined in Multilateral Instrument 45-105  Trades
    to Employees, Senior Officers, Directors and Consultants;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|
| | C. | Associate, where used to indicate a
    relationship with any person or company, means: (i) any
    company of which such person or company beneficially owns,
    directly or indirectly, voting securities carrying more than
    10 per cent of the voting rights attached to all
    voting securities of the company for the time being outstanding;
    (ii) any partner of that person or company; (iii) any
    trust or estate in which such person or company has a
    substantial beneficial interest or as to which such person or
    company serves as trustee or in a similar capacity;
    (iv) any relative of that person who resides in the same
    home as that person; (v) any person who resides in the same
    home as that person and to whom that person is married, or any
    person of the opposite sex or the same sex who resides in the
    same home as that person and with whom that person is living in
    a conjugal relationship outside marriage; or (vi) any
    relative of a person mentioned in clause (v) who has the
    same home as that person;
|
| | D. | Board means the Board of Directors of the
    Corporation or a committee thereof appointed in accordance with
    the Plan;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|
| | E. | Change of Control means the occurrence of any
    one or more of the following events:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            



| |     |                                                                                                                                                                                                              
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (i) | a consolidation, merger, amalgamation, arrangement or other
    reorganization or acquisition involving the Corporation or any
    of its Affiliates and another corporation or other entity, as a
    result

D-1



---



##### 



| |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |       | of which the holders of Shares prior to the completion of the
    transaction hold less than 50% of the outstanding shares of the
    successor corporation after completion of the transaction;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|
| | (ii)  | the sale, lease, exchange or other disposition, in a single
    transaction or a series of related transactions, of assets,
    rights or properties of the Corporation and/or any of its
    Subsidiaries which have an aggregate book value greater than 30%
    of the book value of the assets, rights and properties of the
    Corporation and its Subsidiaries on a consolidated basis to any
    other person or entity, other than a disposition to a
    wholly-owned subsidiary of the Corporation in the course of a
    reorganization of the assets of the Corporation and its
    subsidiaries;                                                                                                                                                                                                                                                                                                                      
|
| | (iii) | a resolution is adopted to wind-up, dissolve or liquidate the
    Corporation;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|
| | (iv)  | any person, entity or group of persons or entities acting
    jointly or in concert (an Acquiror) acquires or
    acquires control (including, without limitation, the right to
    vote or direct the voting) of Voting Securities of the
    Corporation which, when added to the Voting Securities owned of
    record or beneficially by the Acquiror or which the Acquiror has
    the right to vote or in respect of which the Acquiror has the
    right to direct the voting, would entitle the Acquiror and/or
    associates and/or affiliates of the Acquiror (as such terms are
    defined in the Act) to cast or to direct the casting of 20% or
    more of the votes attached to all of the Corporations
    outstanding Voting Securities which may be cast to elect
    directors of the Corporation or the successor corporation
    (regardless of whether a meeting has been called to elect
    directors);
|
| | (v)   | as a result of or in connection with: (A) a contested
    election of directors, or; (B) a consolidation, merger,
    amalgamation, arrangement or other reorganization or
    acquisitions involving the Corporation or any of its affiliates
    and another corporation or other entity, the nominees named in
    the most recent Management Information Circular of the
    Corporation for election to the Board shall not constitute a
    majority of the Board; or                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|
| | (vi)  | the Board adopts a resolution to the effect that a Change of
    Control as defined herein has occurred or is imminent.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | For the purposes of the foregoing, Voting
    Securities means Shares and any other shares entitled to
    vote for the election of directors and shall include any
    security, whether or not issued by the Corporation, which are
    not shares entitled to vote for the election of directors but
    are convertible into or exchangeable for shares which are
    entitled to vote for the election of directors including any
    options or rights to purchase such shares or securities;



| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | F. | Consultants means individuals, other than
    employees and officers and directors of the Corporation or an
    Affiliated Entity that (i) are engaged to provide on a
    bona fide basis consulting, technical, management or
    other services to the Corporation or any Affiliated Entity under
    a written contract between the Corporation or the Affiliated
    Entity and the individual or a company of which the individual
    consultant is an employee or shareholder or a partnership of
    which the individual consultant is an employee or partner and
    (ii) in the reasonable opinion of the Corporation, spend or
    will spend a significant amount of time and attention on the
    affairs and business of the Corporation or an Affiliated Entity;
|
| | G. | Corporation means Goldcorp Inc.;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|
| | H. | Eligible Person means, subject to the
    Regulations and to all applicable law, any employee, officer or
    Consultant of (i) the Corporation or (ii) any
    Affiliated Entity (and includes any such person who is on a
    leave of absence authorized by the Board or the board of
    directors of any Affiliated Entity);                                                                                                                                                                                                                                                                                                                                                                                                                                                
|
| | I. | Insider means: (i) an insider as defined
    in the Securities Act (Ontario) other than a person who
    is an Insider solely by virtue of being a director or senior
    officer of a Subsidiary of the Corporation; and (ii) an
    Associate of any person who is an insider by virtue of (i);                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|
| | J. | Option means a right granted to an Eligible
    Person to purchase Shares pursuant to the terms of
    this Plan;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|
| | K. | Participant for the Plan means each Eligible
    Person to whom Options are granted;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|
| | L. | Plan means the Corporations 2005 Stock
    Option Plan, as same may be amended from time to time;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

D-2



---



##### 





| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | M. | Regulations means the regulations made
    pursuant to this Plan, as same may be amended from time
    to time;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|
| | N. | Retirement in respect of a Participant means
    the Participant ceasing to be an employee, officer or Consultant
    of the Corporation or an Affiliated Entity after attaining a
    stipulated age in accordance with the Corporations normal
    retirement policy or earlier with the Corporations consent;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|
| | O. | Retirement Date means the date that a
    Participant ceases to be an employee, officer or Consultant of
    the Corporation or an Affiliated Entity due to the Retirement of
    the Participant;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|
| | P. | Shares means the common shares in the capital
    of the Corporation;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|
| | Q. | Subsidiary means a corporation which is a
    subsidiary of the Corporation as defined under the Securities
    Act (Ontario);                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|
| | R. | Termination means: (i) in the case of an
    employee, the termination of the employment of the employee with
    or without cause by the Corporation or an Affiliated Entity or
    cessation of employment of the employee with the Corporation or
    an Affiliated Entity as a result of resignation or otherwise
    other than the Retirement of the employee; (ii) in the case
    of an officer, the removal of or failure to re-elect or
    re-appoint the individual as an officer of the Corporation or an
    Affiliated Entity (other than through the Retirement of an
    officer); and (iii) in the case of a Consultant, the
    termination of the services of a Consultant by the Corporation
    or an Affiliated Entity (other than through the Retirement of a
    Consultant);
|
| | S. | Termination Date means the date on which a
    Participant ceases to be an Eligible Person due to the
    Termination of the Participant;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|
| | T. | Transfer includes any sale, exchange,
    assignment, gift, bequest, disposition, mortgage, charge,
    pledge, encumbrance, grant of security interest or other
    arrangement by which possession, legal title or beneficial
    ownership passes from one person to another, or to the same
    person in a different capacity, whether or not voluntary and
    whether or not for value, and any agreement to effect any of the
    foregoing; and                                                                                                                                                                                                                                                                                                                                              
|
| | U. | TSX means the Toronto Stock Exchange.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 







|    |                                            
|--- | -------------------------------------------
|1.4 | Shares Reserved under the Share Option Plan



| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) | The aggregate maximum number of Shares available for issuance
    from treasury under this Plan is 12,500,000, subject to
    adjustment or increase of such number pursuant to
    Section 3.3. Any Shares subject to an Option which has been
    granted under the Plan and which have been cancelled or
    terminated in accordance with the terms of the Plan without
    having been exercised will again be available under
    the Plan.                                                                                                                                                                                                                                                                
|
| | (b) | The maximum number of Shares issuable to Insiders, at any time,
    pursuant to this Plan and any other security based compensation
    arrangements of the Corporation is 10% of the total number of
    Shares then outstanding. The maximum number of Shares issuable
    to Insiders, within any one year period, pursuant to this Plan
    and any other security based compensation arrangements of the
    Corporation is 10% of the total number of Shares then
    outstanding. For purposes of this Section 1.4, the number
    of Shares then outstanding shall mean the number of Shares
    outstanding on a non-diluted basis immediately prior to the
    proposed grant of the applicable Option.

D-3



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##### 



ARTICLE 2


OPTION GRANTS AND TERMS OF OPTIONS


2.1 Grants






|    |                    
|--- | -------------------
|2.2 | Exercise of Options



| |     |                                                                                                                                                                                                                                                   
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) | Options granted must be exercised no later than 10 years
    after the date of grant or such lesser period as the applicable
    grant or Regulations may require.                                                                                
|
| | (b) | The Board may determine when any Option will become exercisable
    and may determine that the Option will be exercisable in
    instalments or pursuant to a vesting schedule.                                                                   
|
| | (c) | No fractional Shares may be issued and the Board may determine
    the manner in which fractional Share value will be treated.                                                                                                                    
|
| | (d) | A minimum of 100 Shares must be purchased by a Participant
    upon exercise of Options at any one time, except where the
    remainder of Shares available for purchase pursuant to Options
    granted to such Participant totals less than 100.



|    |             
|--- | ------------
|2.3 | Option Price





|    |                                 
|--- | --------------------------------
|2.4 | Termination, Retirement or Death



| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) | In the event of the Termination or Retirement of a Participant,
    each Option held by the Participant will cease to be exercisable
    within a period of 30 days after the Termination Date or
    Retirement Date, as the case may be, or such longer period as
    determined by the Board. For greater certainty, such
    determination of a longer period may be made at any time
    subsequent to the date of grant of the Options, provided that no
    Option shall remain outstanding for any period which exceeds the
    earlier of: (i) the expiry date of such Option; and
    (ii) 36 months following the Termination Date or
    Retirement Date, as the case may be. The Board may delegate
    authority to the Chief Executive Officer, the President and/or
    the Chief Financial Officer of the Corporation to make any
    determination with respect to the expiry or termination date of
    Options held by any departing Participant. If any portion of an
    Option has not vested on the Termination Date or Retirement
    Date, as the case may be, the Participant may not, after the
    Termination Date or Retirement Date, as the case may be,
    exercise such portion of the Option which has not vested,
    provided that the Board may determine at any time, including for
    greater certainty at any time subsequent to the date of grant of
    the Options, that such portion of the Option vests automatically
    or pursuant to a vesting schedule determined by the Board. The
    Board may delegate authority to the Chief Executive Officer, the
    President and/or the Chief Financial Officer to make any
    determination with respect to vesting of Options or any portion
    thereof held by any departing Participant. Without limitation,
    and for greater certainty only, this subsection (a) will
    apply regardless of whether the Participant was dismissed with
    or without cause and regardless of whether the Participant
    received compensation in respect of dismissal or was entitled to
    a period of notice of termination which would otherwise have
    permitted a greater portion of the Option to vest.
|
| | (b) | If a Participant dies, the legal representatives of the
    Participant may exercise the Options held by the Participant
    within a period after the date of the Participants death
    as determined by the Board, for                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

D-4



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##### 



| |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | greater certainty such determination may be made at any time
    subsequent to the date of grant of the Options, provided that no
    Option shall remain outstanding for any period which exceeds the
    earlier of (i) the expiry date of such Option; and
    (ii) 12 months following the date of death of the
    Participant, but only to the extent the Options were by their
    terms exercisable on the date of death. The Board may determine
    at any time, including for greater certainty at any time
    subsequent to the date of grant of the Options, that such
    portion of the Option vests automatically or pursuant to a
    vesting schedule determined by the Board. The Board may delegate
    authority to the Chief Executive Officer, the President and/or
    the Chief Financial Officer to make any determination with
    respect to the expiry or termination date of Options or vesting
    of Options or any portion thereof held by any deceased
    Participant. If the legal representative of a Participant who
    has died exercises the Option of the Participant in accordance
    with the terms of this Plan, the Corporation will have no
    obligation to issue the Shares until evidence satisfactory to
    the Corporation has been provided by the legal representative
    that the legal representative is entitled to act on behalf of
    the Participant to purchase the Shares under this Plan.



|    |                  
|--- | -----------------
|2.5 | Option Agreements





|    |                        
|--- | -----------------------
|2.6 | Payment of Option Price





|    |                                  
|--- | ---------------------------------
|2.7 | Acceleration on Change of Control





|    |                          
|--- | -------------------------
|2.8 | Amendment of Option Terms



ARTICLE 3


MISCELLANEOUS




|    |                                                  
|--- | -------------------------------------------------
|3.1 | Right to Terminate Options on Sale of Corporation





|    |                                   
|--- | ----------------------------------
|3.2 | Prohibition on Transfer of Options



D-5



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##### 







|    |                    
|--- | -------------------
|3.3 | Capital Adjustments





|    |                
|--- | ---------------
|3.4 | Non-Exclusivity





|    |                          
|--- | -------------------------
|3.5 | Amendment and Termination





| |     |                                                                                                                                       
| | --- | --------------------------------------------------------------------------------------------------------------------------------------
| | (a) | The Board may, subject to receipt of requisite shareholder and
    regulatory approval, make the following amendments to
    the Plan:



| |        |                                                                                                                                                                                                                                                                                                                                                                                 
| | ------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (i)    | any amendment to the number of securities issuable under the
    Plan, including an increase to a fixed maximum number of
    securities or a change from a fixed maximum number of securities
    to a fixed maximum percentage. A change to a fixed maximum
    percentage which was previously approved by shareholders will
    not require additional shareholder approval;
|
| | (ii)   | any change to the definition of the eligible participants which
    would have the potential of broadening or increasing insider
    participation;                                                                                                                                                                                                                             
|
| | (iii)  | the addition of any form of financial assistance;                                                                                                                                                                                                                                                                                                                               
|
| | (iv)   | any amendment to a financial assistance provision which is more
    favourable to participants;                                                                                                                                                                                                                                                                                 
|
| | (v)    | any addition of a cashless exercise feature, payable in cash or
    securities which does not provide for a full deduction of the
    number of underlying securities from the Plan reserve;                                                                                                                                                                                    
|
| | (vi)   | the addition of a deferred or restricted share unit or any other
    provision which results in participants receiving securities
    while no cash consideration is received by the Corporation;                                                                                                                                                                               
|
| | (vii)  | a discontinuance of the Plan; and                                                                                                                                                                                                                                                                                                                                               
|
| | (viii) | any other amendments that may lead to significant or
    unreasonable dilution in the Corporations outstanding
    securities or may provide additional benefits to eligible
    participants, especially insiders of the Corporation, at the
    expense of the Corporation and its existing shareholders.                                                                    



| |     |                                                                                                                                                                                                                                                              
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (b) | The Board may, subject to receipt of requisite regulatory
    approval, where required, in its sole discretion make all other
    amendments to the Plan that are not of the type contemplated in
    subparagraph 10(a) above including, without limitation:



| |      |                                                              
| | ---- | -------------------------------------------------------------
| | (i)  | amendments of a housekeeping nature;                       
|
| | (ii) | a change to the vesting provisions of a security or the Plan;

D-6



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##### 





| |       |                                                                                                                                                                                      
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (iii) | a change to the termination provisions of a security or the Plan
    which does not entail an extension beyond the original expiry
    date; and                                     
|
| | (iv)  | the addition of a cashless exercise feature, payable in cash or
    securities, which provides for a full deduction of the number of
    underlying securities from the Plan reserve.



| |     |                                                                                                                                                                                                                                                                                                                                       
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (c) | Notwithstanding the provisions of subparagraph 3.5(b), the
    Corporation shall additionally obtain requisite shareholder
    approval in respect of amendments to the Plan that are
    contemplated pursuant to section subparagraph 3.5(b), to
    the extent such approval is required by any applicable laws or
    regulations.



|    |                            
|--- | ---------------------------
|3.6 | Compliance with Legislation





|    |               
|--- | --------------
|3.7 | Effective Date



D-7



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##### 



SCHEDULE E


GOLDCORP INC.


RESTRICTED SHARE PLAN


APRIL 15, 2005


ARTICLE ONE


DEFINITIONS AND INTERPRETATION


Definitions






| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | A. | Act means the Business Corporations
    Act (Ontario) or its successor, as amended from time
    to time;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|
| | B. | Associate, where used to indicate a
    relationship with any person or company, means: (i) any
    company of which such person or company beneficially owns,
    directly or indirectly, voting securities carrying more than
    10 per cent of the voting rights attached to all
    voting securities of the company for the time being outstanding;
    (ii) any partner of that person or company; (iii) any
    trust or estate in which such person or company has a
    substantial beneficial interest or as to which such person or
    company serves as trustee or in a similar capacity;
    (iv) any relative of that person who resides in the same
    home as that person; (v) any person who resides in the same
    home as that person and to whom that person is married, or any
    person of the opposite sex or the same sex who resides in the
    same home as that person and with whom that person is living in
    a conjugal relationship outside marriage; or (vi) any
    relative of a person mentioned in clause (v) who has the
    same home as that person;
|
| | C. | Change of Control means the occurrence of any
    one or more of the following events:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            



| |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (i)   | a consolidation, merger, amalgamation, arrangement or other
    reorganization or acquisition involving the Corporation or any
    of its Affiliates and another corporation or other entity, as a
    result of which the holders of Shares prior to the completion of
    the transaction hold less than 50% of the outstanding shares of
    the successor corporation after completion of the transaction;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|
| | (ii)  | the sale, lease, exchange or other disposition, in a single
    transaction or a series of related transactions, of assets,
    rights or properties of the Corporation and/or any of its
    Subsidiaries which have an aggregate book value greater than 30%
    of the book value of the assets, rights and properties of the
    Corporation and its Subsidiaries on a consolidated basis to any
    other person or entity, other than a disposition to a
    wholly-owned subsidiary of the Corporation in the course of a
    reorganization of the assets of the Corporation and its
    subsidiaries;                                                                                                                                                                                                                                                                                                                      
|
| | (iii) | a resolution is adopted to wind-up, dissolve or liquidate the
    Corporation;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|
| | (iv)  | any person, entity or group of persons or entities acting
    jointly or in concert (an Acquiror) acquires or
    acquires control (including, without limitation, the right to
    vote or direct the voting) of Voting Securities of the
    Corporation which, when added to the Voting Securities owned of
    record or beneficially by the Acquiror or which the Acquiror has
    the right to vote or in respect of which the Acquiror has the
    right to direct the voting, would entitle the Acquiror and/or
    associates and/or affiliates of the Acquiror (as such terms are
    defined in the Act) to cast or to direct the casting of 20% or
    more of the votes attached to all of the Corporations
    outstanding Voting Securities which may be cast to elect
    directors of the Corporation or the successor corporation
    (regardless of whether a meeting has been called to elect
    directors);
|
| | (v)   | as a result of or in connection with: (A) a contested
    election of directors, or; (B) a consolidation, merger,
    amalgamation, arrangement or other reorganization or
    acquisitions involving the Corporation or any of its affiliates
    and another corporation or other entity, the nominees named in                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

E-1



---



##### 



| |      |                                                                                                                                                      
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------
| |      | the most recent Management Information Circular of the
    Corporation for election to the Board shall not constitute a
    majority of the Board; or
|
| | (vi) | the Board adopts a resolution to the effect that a Change of
    Control as defined herein has occurred or is imminent.                              



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | For the purposes of the foregoing, Voting
    Securities means Shares and any other shares entitled to
    vote for the election of directors and shall include any
    security, whether or not issued by the Corporation, which are
    not shares entitled to vote for the election of directors but
    are convertible into or exchangeable for shares which are
    entitled to vote for the election of directors including any
    options or rights to purchase such shares or securities;



| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | D. | Committee means the Directors or if the
    Directors so determine in accordance with Section 2.03 of
    the Plan, the committee of the Directors authorized to
    administer the Plan which includes any compensation committee of
    the board;                                                                                                                                                                                                                                                                                                                                                                                                    
|
| | E. | Corporation means Goldcorp Inc., a
    corporation incorporated under the Act;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|
| | F. | Designated Affiliate means the affiliates of
    the Corporation designated by the Committee for purposes of the
    Plan from time to time;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|
| | G. | Directors means the board of directors of the
    Corporation from time to time;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|
| | H. | Eligible Contractors means individuals, other
    than Eligible Directors or Eligible Employees that (i) are
    engaged to provide on a bona fide basis consulting,
    technical, management or other services to the Corporation or
    any Designated Affiliates under a written contract between the
    Corporation or the Designated Affiliate and the individual or a
    company which the individual consultant is an employee and
    (ii) in the reasonable opinion of the Corporation, spend or
    will spend a significant amount of time and attention on the
    affairs and business of the Corporation or a Designated
    Affiliate;
|
| | I. | Eligible Directors means the Directors and
    the directors of any Designated Affiliate of the Corporation
    from time to time;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|
| | J. | Eligible Employees means employees, including
    officers, whether Directors or not, and including both full-time
    and part-time employees, of the Corporation or any Designated
    Affiliate of the Corporation;                                                                                                                                                                                                                                                                                                                                                                                                                                  
|
| | K. | Insider means: (i) an insider as defined
    in the Securities Act (Ontario) other than a person who
    is an Insider solely by virtue of being a director or senior
    officer of a Subsidiary of the Corporation; and (ii) an
    Associate of any person who is an insider by virtue of (i);                                                                                                                                                                                                                                                                                                                                                       
|
| | L. | Participant for the Plan means each Eligible
    Director, Eligible Contractor, and Eligible Employee to whom
    Restricted Share Rights are granted;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|
| | M. | Plan means the Corporations restricted
    share plan, as same may be amended from time to time;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|
| | N. | Restricted Period means any period of time
    that a Restricted Share Right is not exercisable and the
    Participant holding such Restricted Share Right remains
    ineligible to receive Restricted Shares, determined by the
    Committee in its absolute discretion, however, such period of
    time may be reduced or eliminated from time to time and at any
    time and for any reason as determined by the Committee,
    including but not limited to circumstances involving death or
    disability of a Participant;                                                                                                                  
|
| | O. | Retirement in respect of a Participant means
    the Participant ceasing to be an Eligible Employee, Eligible
    Director or Eligible Contractor after attaining a stipulated age
    in accordance with the Corporations normal retirement
    policy or earlier with the Corporations consent;                                                                                                                                                                                                                                                                                                                                                     
|
| | P. | Retirement Date means the date that a
    Participant ceases to be an Eligible Employee, Eligible Director
    or Eligible Contractor due to the Retirement of the Participant;                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|
| | Q. | Restricted Share Rights has such meaning as
    ascribed to such term at Section 3.02 of this Plan;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|
| | R. | Restricted Shares means the Shares issuable
    upon the exercise of Restricted Share Rights;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|
| | S. | Shares means the common shares in the capital
    of the Corporation, as adjusted in accordance with the
    provisions of Article Five of this Plan;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

E-2



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##### 





| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | T. | Termination means: (i) in the case of an
    Eligible Employee, the termination of the employment of the
    Eligible Employee with or without cause by the Corporation or a
    Designated Affiliate or cessation of employment of the Eligible
    Employee with the Corporation or a Designated Affiliate as a
    result of resignation or otherwise other than the Retirement of
    the Eligible Employee; (ii) in the case of an Eligible
    Director, the removal of or failure to re-elect the Eligible
    Director as a director of the Corporation or a Designated
    Affiliate; and (iii) in the case of an Eligible Contractor,
    the termination of the services of the Eligible Contractor by
    the Corporation or a Designated Affiliate; and
|
| | U. | TSX means the Toronto Stock Exchange.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

Securities
Definitions Securities Act


Headings


Context,
Construction


References
to this Restricted Share Plan


Canadian
Funds


ARTICLE TWO


PURPOSE AND ADMINISTRATION OF THE RESTRICTED SHARE PLAN


Purpose of the Restricted Share Plan


Administration
of the Restricted Share Plan


Delegation
to Committee


E-3



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##### 



Record
Keeping




| |     |                                                                                          
| | --- | -----------------------------------------------------------------------------------------
| | (a) | the name and address of each Participant in the Plan;                                    
|
| | (b) | the number of Restricted Share Rights granted to each
    Participant under the Plan; and
|
| | (c) | the number of Restricted Shares issued to each Participant under
    the Plan.           

Determination
of Participants and Participation


Maximum
Number of Shares




| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) | The aggregate maximum number of Shares available for issuance
    from treasury under this Plan shall be determined from time to
    time by the Committee, but in any case, shall not exceed 500,000
    Shares.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|
| | (b) | The maximum number of Shares issuable to Insiders, at any time,
    pursuant to this Plan and any other security based compensation
    arrangements of the Corporation is 10% of the total number of
    Shares then outstanding. The maximum number of Shares issuable
    to Insiders, within any one year period, pursuant to this Plan
    and any other security based compensation arrangements of the
    Corporation is 10% of the total number of Shares then
    outstanding. For purposes of this Section 2.06, the number
    of Shares then outstanding shall mean the number of Shares
    outstanding on a non-diluted basis immediately prior to the
    proposed grant of the applicable Restricted Share Right.

ARTICLE THREE


RESTRICTED SHARE PLAN


Restricted
Share Plan


Participants


Restricted
Share Right Grant Letter


Restricted
Period


Retirement
or Termination during Restricted Period


Retirement
or Termination after Restricted Period


E-4



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##### 



Payment
of Dividends


Death
or Disability of Participant


Change
of Control


Necessary
Approvals


Term
of the Restricted Share Plan


ARTICLE FOUR


WITHHOLDING TAXES


Withholding
Taxes


ARTICLE FIVE


GENERAL


Effective
Time of Restricted Share Plan


Amendment
of Restricted Share Plan




| |     |                                                                                                                                                      
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) | materially increase the benefits under the Plan;                                                                                                     
|
| | (b) | increase the number of Shares, other than by virtue of
    Sections 5.06, 5.07 and 5.08 of the Plan, which may be
    issued pursuant to the Plan; or
|
| | (c) | materially modify the requirements as to eligibility for
    participation in the Plan;                                                              



Non-Assignable


E-5



---



##### 



Rights
as a Shareholder


No
Contract of Employment


Automatic
Extension of Restricted Period during Black Outs


Adjustment
in Number of Shares Subject to the Restricted Share Plan




| |     |                                                             
| | --- | ------------------------------------------------------------
| | (a) | the number of Shares available under the Plan; and          
|
| | (b) | the number of Shares subject to any Restricted Share Rights.



Securities
Exchange Take-over Bid Securities Act




| |     |                                                                                                                                                                                                                                   
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) | the offeror delivers with such notice an irrevocable and
    unconditional offer to grant replacement restricted share rights
    to the holders of Restricted Share Rights on the equity
    securities offered as consideration;
|
| | (b) | the Committee has determined, in good faith, that such
    replacement options have substantially the same economic value
    as the Restricted Share Rights being surrendered; and                                               
|
| | (c) | the surrender of Restricted Share Rights and the granting of
    replacement restricted share rights can be effected on a tax
    deferred basis under the Income Tax Act (Canada).                                               

No
Representation or Warranty


Compliance
with Applicable Law


Interpretation


E-6