RED LAKE MINE, Canada - Knelson Concentrators is pleased to have played a major role in the pouring of the first 1,090 ounces of gold at Goldcorp's Red Lake Mine on August 1st, 2000. This event was witnessed by an enthusiastic group of directors and employees at Goldcorp. The 'first gold' was recovered with a Knelson CD20 concentrator using the latest in Knelson concentrating cone technology, the G5 cone. When construction began in May 1999, the mine was forecast to produce 240,000 ounces of gold annually at an average cost of $88 per ounce. The average gold grade was expected to be 1.37opt. However, results to date suggest the gold grade has been higher than expected which has resulted in higher cash flow and increased earnings. Presently, (15-Nov-00) 51,050 tons of ore have been mined and processed. The average grade of this ore has been 1.413 ounces per ton. Processing this type of high grade ore makes the inclusion of a Knelson Concentrator especially important for removal of a high proportion (+50%) of the gold directly from the grinding circuit which improves leaching efficiency and helps to maintain high overall plant recovery. "With the high grades that we have been treating, the processing plant can receive spikes (12 hour feed composites) in excess of 10 opt. This requires us to have an efficient, reliable, and trouble-free gravity circuit. Knelson Concentrators have provided our plant with this."Rod Tyreman, Plant Metallurgist, Goldcorp Inc.- Red Lake Mine." Goldcorp Inc. is a North American based gold producer. In addition to the high-grade Red Lake Mine, Goldcorp owns and operates a gold mine located in South Dakota and two industrial mineral operations in Saskatchewan. For further information, please contact Knelson head office.

Red Lake Mine Team First Gold Pour First Gold Poured