OREANDA-NEWS. GOLDCORP INC. (TSX: G, NYSE: GG) announced today that it has entered into a binding letter of intent (the "Letter of Intent") whereby it will sell its 40% interest in the South Arturo Mine Project (the "Project") located in Nevada to Premier Gold Mines Ltd. ("Premier") (TSX: PG).  The South Arturo Mine Project is a joint venture between Goldcorp, a 40% owner, and Barrick, a 60% owner and the operator of the Project.

Under the Agreement, Goldcorp will receive consideration of \$20 million in cash at closing and a further 5% interest in the Rahill-Bonanza Joint Venture in Red Lake, subject to Barrick not exercising its right of first refusal in respect of the Project and completion of definitive documentation.  Concurrent with the divestiture, Goldcorp has agreed to complete a private placement with Premier in the amount of C\$12.5 million, subject to Toronto Stock Exchange approval.     

The closing of the acquisition, which is subject to Barrick not exercising its right of first refusal in respect of the Project and completion of definitive documentation, is expected to occur by the end of May 2015.

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