Document:

exv4w3

 

THIS IS NOT A LETTER OF ACCEPTANCE AND TRANSMITTAL

NOTICE OF GUARANTEED DELIVERY

for Common Shares

of

GOLDCORP INC.

Pursuant to the Offer dated January 7,
2005

of

GLAMIS GOLD LTD.

THE OFFER WILL BE OPEN FOR ACCEPTANCE UNTIL
9:00 P.M. (Toronto time) ON FEBRUARY 14, 2005 (THE
“EXPIRY TIME”), UNLESS EXTENDED OR
WITHDRAWN.

     
This Notice of Guaranteed Delivery must be used
to accept the offer dated January 7, 2005 (the
“Offer”) made by Glamis Gold Ltd. (“Glamis”)
for common shares (the “Goldcorp Shares”) of Goldcorp
Inc. (“Goldcorp”), if (i) certificates for the
Goldcorp Shares to be deposited are not immediately available;
or (ii) the holder of Goldcorp Shares cannot deliver the
certificates and Letter of Transmittal to the Depositary no
later than the Expiry Time. This Notice of Guaranteed Delivery
may be delivered by hand or transmitted by electronic facsimile
or mail to the Depositary at the address or facsimile number set
out below and must include a guarantee by an Eligible
Institution in the form set forth in the Notice of Guaranteed
Delivery.

To:     Computershare
Investor Services Inc., as Depositary

	 	 	 
	
    
    By Mail:

    	 	
    By Facsimile Transmission:
	
    Toronto

    100 University Avenue

    9th Floor

    Toronto, Ontario

    M5J 2Y1
    	 	
    (416) 981-9663
    

     
The terms and conditions of the Offer are
incorporated by reference in this Notice of Guaranteed Delivery.
Capitalized terms used but not defined in this Notice of
Guaranteed Delivery which are defined in the Offer to Purchase
and accompanying Circular dated January 7, 2005 (the
“Offer and Circular”) have the meanings ascribed to
them in the Offer and Circular.

     
If a holder of Goldcorp Shares wishes to deposit
such Goldcorp Shares pursuant to the Offer and certificates for
such Goldcorp Shares are not immediately available, or the
holder of Goldcorp Shares cannot deliver the certificates and
Letter of Transmittal to the Depositary no later than the Expiry
Time, those Goldcorp Shares may nevertheless be deposited under
the Offer provided that all of the following conditions are met:

			
	 	(a) 	
    such deposit is made only at the principal office
    of the Depositary in Toronto by or through an Eligible
    Institution;
    
	 
	 	(b) 	
    a properly completed and duly executed Notice of
    Guaranteed Delivery (or a manually signed facsimile) is received
    by the Depositary at its principal office in Toronto at or
    before the Expiry Time; and
    
	 
	 	(c) 	
    the certificate or certificates representing the
    deposited Goldcorp Shares, in proper form for transfer, together
    with a properly completed and duly signed Letter of Transmittal
    (or a manually signed facsimile copy) and other documents
    required by such Letter of Transmittal, are received at the
    Toronto office of the Depositary by 5:00 p.m. (Toronto
    time) on the third trading day on the Toronto Stock Exchange
    after the Expiry Date.
    

 

     
An “Eligible Institution” means a
Canadian Schedule I chartered bank, a major trust company
in Canada, a member of the Securities Transfer Agent Medallion
Program (STAMP), a member of the Stock Exchange Medallion
Program (SEMP), or a member of the New York Stock Exchange, Inc.
Medallion Signature Program (MSP). Members of these programs are
usually members of a recognized stock exchange in Canada or the
United States, members of the Investment Dealers Association of
Canada, members of the National Association of Securities
Dealers or banks or trust companies in the United States.

     
DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY
TO AN ADDRESS OR TRANSMISSION OF THIS NOTICE OF GUARANTEED
DELIVERY VIA A FACSIMILE NUMBER OTHER THAN SET FORTH ABOVE DOES
NOT CONSTITUTE A VALID DELIVERY.

     
THIS NOTICE OF GUARANTEED DELIVERY IS NOT TO
BE USED TO GUARANTEE SIGNATURES. IF A SIGNATURE ON THE LETTER OF
TRANSMITTAL IS REQUIRED TO BE GUARANTEED BY AN ELIGIBLE
INSTITUTION UNDER THE INSTRUCTIONS THERETO, SUCH SIGNATURE MUST
APPEAR IN THE APPLICABLE SPACE IN THE LETTER OF
TRANSMITTAL.

     
DO NOT SEND CERTIFICATES FOR GOLDCORP SHARES
WITH THIS NOTICE OF GUARANTEED DELIVERY. CERTIFICATES FOR
GOLDCORP SHARES MUST BE SENT WITH YOUR LETTER OF
TRANSMITTAL.

2

 

     
The undersigned hereby deposits to Glamis, upon
the terms and subject to the conditions set forth in the Offer
to Purchase and Letter of Transmittal, receipt of which is
hereby acknowledged, the Goldcorp Shares listed below, pursuant
to the guaranteed delivery procedures set forth in
Section 5 of the Offer to Purchase, “Procedure for
Guaranteed Delivery”.

	 	 	 	 	 	 	 
	
	

			Number of Shares		Number of Shares
	Certificate Number(s)*		Name(s) in which Registered		Represented by Certificate		Deposited*
	
	

	 
	

	 
	

	 
	

	 
	

	 	 	
    TOTAL:	 	 	 	 
	 	 	 	 	

     
(If space is insufficient please attach a list
to this Notice of Guaranteed Delivery in the above
form.)

		
	* 	
    Unless otherwise indicated, all Goldcorp Shares
    evidenced by any certificate(s) submitted to the Depositary will
    be deemed to have been deposited under the Offer.
    

	 	 	 
	
    
    
Signature(s) of Holder(s)
    of Shares

    

    
 Name (please print)

    

    
 Date

    	 	
    
Address(es)

    

    

 Zip Code/Postal
    Code

    

    
 Telephone Number (business
    hours)

	 	 	 	 
	

	
    GUARANTEE
	
    (Not to be used for signature
    guarantee)
	 
	
    The undersigned, an Eligible Institution,
    guarantees delivery to the Depositary, at its address set forth
    herein, of the certificate(s) representing the Goldcorp Shares
    deposited hereby, each in proper form for transfer, together
    with a Letter of Transmittal (or a facsimile thereof), properly
    completed and duly executed with any required signature
    guarantees, covering the deposited Goldcorp Shares and all other
    documents required by the Letter of Transmittal no later than
    5:00 p.m. (Toronto time) on the third trading day on the
    Toronto Stock Exchange after the Expiry Date.
    
	 
	
    Failure to comply with the foregoing could result
    in a financial loss to such Eligible Institution.
    
	 	
    
Name of Firm

    

    
 Address of Firm

    

    

 Zip Code/ Postal
    Code

    

    
 Telephone Number	 	
    
Authorized Signature

    

    
 Name (please print)

    

    
 Title

    

    
 Dateexv4w4

 

 Offer to Purchase Each
Outstanding Common Share

of

Goldcorp Inc.

for

0.89 of a Common Share

of

Glamis Gold Ltd.

THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT
9:00 P.M., TORONTO TIME, ON FEBRUARY 14, 2005, UNLESS
THE OFFER IS EXTENDED OR WITHDRAWN.

January 7, 2005

To Brokers, Dealers, Commercial Banks,
Trust Companies and Other Nominees:

     
Glamis Gold Ltd., a British Columbia corporation
(“Glamis”), is offering to purchase all of the
outstanding common shares (the “Goldcorp Shares” and
the certificates representing such Goldcorp Shares, the
“Goldcorp Share Certificates”), of Goldcorp Inc., an
Ontario corporation (“Goldcorp”), for 0.89 of a common
share of Glamis per Goldcorp Share.

     
The offer to purchase is subject to the terms and
conditions set forth in the Offer to Purchase, dated as of
January 7, 2005 (the “Offer to Purchase”), the
Circular accompanying the Offer to Purchase (the
“Circular”), and the related Letter of Acceptance and
Transmittal for Common Shares (the “Letter of
Transmittal”). The Offer to Purchase, the Circular and the
Letter of Transmittal, as each may be amended or supplemented
from time to time, collectively constitute the “Offer”.

     
The Offer is conditioned upon, among other
things, there being validly deposited under the Offer and not
withdrawn prior to the Expiry Time (as defined in the Offer to
Purchase) a number of shares of Goldcorp Shares which
constitutes at least 66 2/3% of the Goldcorp Shares (on a
fully diluted basis) outstanding at the Expiry Time.

     
For your information and for forwarding to your
clients for whom you hold Goldcorp Shares registered in your
name or in the name of your nominee, or who hold Goldcorp Shares
registered in their own names, enclosed please find the
following documents:

		
	 	     
    1. Offer to Purchase dated January 7,
    2005.
    
	 
	 	     
    2. Letter of Acceptance and Transmittal for
    Common Shares for your use and for the information of your
    clients who hold Goldcorp Shares. Manually executed facsimile
    copies of the Letter of Transmittal may be used to deposit
    Goldcorp Shares, including Guidelines for Certification of
    Taxpayer Identification Number on Substitute Form W-9.
    
	 
	 	     
    3. Notice of Guaranteed Delivery to be used
    to accept the Offer if Goldcorp Share Certificates are not
    immediately available or if the holder of the Goldcorp Shares
    cannot deliver the Share Certificates to the Depositary on or
    prior to the Expiry Time (as defined in the Offer to Purchase).
    
	 
	 	     
    4. A Letter to Clients, which may be sent to
    your clients for whose account you hold Goldcorp Shares,
    registered in your name or in the name of your nominee, with
    space provided for obtaining such clients’ instructions
    with regard to the Offer.
    
	 
	 	     
    5. Return envelope addressed to
    Computershare Investor Services Inc., as Depositary.
    

 

     
In accordance with the terms and subject to the
satisfaction or waiver (where applicable) of the conditions to
the Offer, all Goldcorp Shares that have been properly deposited
and not withdrawn will be taken up promptly after the Expiry
Time. All Goldcorp Shares taken up under the Offer to Purchase
will be paid for promptly, and in any event within three
business days of having been taken up. For purposes of the
Offer, Glamis will be deemed to have accepted for purchase (and
thereby purchased), Goldcorp Shares validly deposited and not
properly withdrawn if, as and when Glamis gives oral or written
notice to the Depositary of Glamis’ acceptance for exchange
of the deposits of such Goldcorp Shares pursuant to the Offer.
Upon the terms and subject to the conditions of the Offer,
common shares of Glamis to be issued in exchange for Goldcorp
Shares accepted for purchase pursuant to the Offer will be
issued only after timely receipt by the Depositary of
(1) the Letter of Transmittal (or a facsimile thereof)
properly completed and duly executed, with any required
signature guarantees; and (2) any other documents required
under the Letter of Transmittal.

     
Glamis will not pay any commissions or fees to
any broker, dealer or other person (other than the Depositary,
the Information Agent and the Dealer Manager, as described in
the Offer to Purchase) in connection with the solicitation of
deposits of Goldcorp Shares pursuant to the Offer. Glamis will,
however, upon request, reimburse you for customary clerical and
mailing expenses incurred by you in forwarding any of the
enclosed materials to your clients.

     
Glamis will pay any stock transfer taxes with
respect to the transfer and sale of Goldcorp Shares to it or to
its order pursuant to the Offer, except as otherwise provided in
Instruction 8 of the enclosed Letter of Transmittal.

     
Your prompt action is requested. We urge you
to contact your clients as promptly as possible. Please note
that the Offer and related withdrawal rights expire at
9:00 p.m., Toronto time, on February 14, 2005, unless
the Offer is extended.

     
In order for a holder of Goldcorp Shares to take
advantage of the Offer, the Letter of Transmittal (or a
facsimile thereof), properly completed and duly executed,
together with any required signature guarantees and any other
documents required by the Letter of Transmittal should be sent
to the Depositary and Goldcorp Share Certificates should be
delivered, all in accordance with the instructions set forth in
the Letter of Transmittal and the Offer to Purchase.

     
Holders of Goldcorp Shares whose Goldcorp Share
Certificates are not immediately available or who cannot deliver
their Goldcorp Share Certificates and all other required
documents to the Depositary on or prior to the Expiry Time, must
deposit their Goldcorp Shares according to the guaranteed
delivery procedures set forth in Section 5 of the Offer to
Purchase “Procedure for Guaranteed Delivery”.

     
Inquiries you may have with respect to the Offer,
and any requests for copies of the Offer to Purchase, the
Letters of Transmittal and all other tender offer materials may
be directed to the Information Agent.

		
	 	
    Very truly yours,
    
	 
	 	
    GLAMIS GOLD LTD.
    

Enclosures

     
Nothing contained herein or in the enclosed
documents shall constitute you or any other person as an agent
of Glamis, the Depositary, the Information Agent, the Dealer
Managers or any affiliate of any of them, or authorize you or
any other person to make any statement or use any document on
behalf of any of them in connection with the Offer other than
the enclosed documents and the statements contained
therein.

2

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