Goldcorp's Los Filos mine access blocked

Wednesday, March 28, 2007

Access to Vancouver-based Goldcorp's (NYSE: GG, TSX: G) Los Filos gold project in the Mexican state of Guerrero has been blocked again by landowner groups requesting the renegotiation of existing land purchase and rental agreements, the company reported in a statement.

As a result, construction activities at the site have been halted, the statement said.

Goldcorp is engaged in negotiations with the blockade organizers and still expects the first production of gold from Los Filos during the second quarter of 2007.

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An April 2006 feasibility study slated Los Filos to produce 200,000oz of gold in 2007 and 350,000oz in 2008.

Goldcorp representatives were not immediately available to comment.

The project contains proven and probable reserves of 4.51Moz gold.