UPDATE 1-Goldcorp agrees to sell mine in Mexico for $500 mln

* Says San Dimas mine to be sold to Mala Noche

* To get $270 mln cash, $175 mln shares, $50 mln note

* Goldcorp to hold 30 percent interest in Mala Noche

* Silver Wheaton extends purchase agreement

June 2 (Reuters) - Goldcorp Inc (G.TO) said it agreed to sell the San Dimas gold-silver mine in Mexico to Mala Noche Resources Corp MLA.V for $500 million.

The Canadian gold miner said it expects to own 30 percent interest in Mala Noche after the deal, which is expected to close by July 30.

Goldcorp said it will receive $275 million in cash, $175 million of Mala Noche shares and a $50 million promissory note payable over five years at a rate of 6 percent per annum.

Separately, Silver Wheaton Corp (SLW.TO), which had agreed to buy silver from San Dimas till 2029, said it extended the term of the agreement to life-of-mine, following the sale of the mine.

Shares of Goldcorp closed at C$45.61 Tuesday, while Mala Noche's share closed at 24.5 Canadian cents. (Reporting by Aftab Ahmed in Bangalore; Editing by Don Sebastian) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))