STARCORE ANNOUNCES 1st Quarter Production Results
Suite 750 – 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6
Telephone: (604) 602-4935 Fax: (604) 602-4936 e-mail: [email protected] website: www.starcore.com
August 15, 2022 TSX: SAM
STARCORE ANNOUNCES
1st Quarter Production Results
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) ( “Starcore” or “ the Company”)
announces production results for the first 2023 fiscal quarter ended July 31, 2022, at its San Martin Mine (“San
Martin”) in Queretaro, Mexico.
The production was very similar to the previous quarter (2022 - Q4) that confirmed the stability of the mine
production and reflects the intensive exploration carried out this year. As a result, we are encourage d to
continue increasing the investment in exploration as demonstrated by the $2 million exploration budget
recently approved by the BOD of S tarcore to be applied in exploration of the San Martin mine and other
projects in Mexico, beginning next quarter.
At the San Martin Mine we have committed an additional $1 million to the current exploration budget which
will be applied in three different areas beyond budgeted exploration for this year, which is focused on finding
the extension of the current mineralization. The additional exploration will be carried out with over 300 meters
of diamond drill holes oriented toward the north zone following th e trend of the high- grade mineralization
mined over the past 30 years of San Martin operation. We will also extend exploration to the eastern and
western directions, looking for new areas with high probabilities of mineralization based on the new geological
interpretations mapped out by our internal team of geologists and external consultants using more advanced
tools at our disposal.
“This approach is all aligned with our strategy to produce profitable ounces day by day.” stated Salvador
Garcia, Chief Operating Officer of the Company.
San Martin Production Q1 2023
Q4 2022 Q/Q Change YTD 2023 YTD 2022 Y/Y Change
Ore Milled (Tonnes) 55,263 55,378 0% 55,263 56,287 -2%
Gold Equivalent Ounces 2,925 2,900 1% 2,925 2,895 1%
Gold Grade (Grams/Ton) 1.70 1.65 3% 1.70 1.64 4%
Silver Grade (Grams/Ton) 21.29 27.15 -22% 21.29 20.84 2%
Gold Recovery (%) 89.43 88.64 1% 89.43 88.34 1%
Silver Recovery (%) 49.13 52.26 -6% 49.13 52.11 -6%
Gold: Silver Ratio 85.98 78.23 85.98 68.55
Salvador Garcia, B. Eng., a director of the Company and Chief Operating Officer, is the Company’s qualified
person on the project as required under NI 43-101and has prepared the technical information contained in this
press release.
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About Starcore
Starcore International Mines is engaged in precious metals production with focus and experience in Mexico.
This base of producing assets is complemented by exploration and development projects throughout North
America. The Company is a leader in Corporate Social R esponsibility and advocates value driven decisions
that will increase long term shareholder value. You can find more information on the investor friendly website
here: www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
Signed “Robert Eadie”
Robert Eadie, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Investor Relations
Telephone: (604) 602-4935 x 205
Email: [email protected]
The Toronto Stock Exchange has not reviewed, nor does it accept responsibility
for the adequacy or accuracy of this press release.