STARCORE ANNOUNCES 2nd 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

November 15, 2021 TSX: SAM

STARCORE ANNOUNCES

2nd Quarter Production Results

Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or “the Company”)

announces production results for the second fiscal quarter ended October 31, 2021, at its San Martin

Mine (“San Martin”) in Queretaro, Mexico . The production continues to be stable continuing to

produce profitable ounces at a rate that is improving every month along with the improving gold and

silver market prices that we are experiencing.

The most relevant item during this quarter are the increases in proven and probable reserves as a result

of the continuous exploration work being performed by DDH and development. As an example, the

development of the manto-breccia zone discovered in the Cuerpo 31 earlier this year has resulted in

a great deal of the improved production for the current quarter.

“We are pleased at how the exploration has been improving quarter by quarter and we are now

starting on the exploration to find the manto – breccia deposit of the Cuerpo 32, which is the

continuation of the Cuerpo 31 after the fault ,” stated Salvador Garcia Chief Operating officer of the

company.

San Martin Production Q2 2022

Q1 2022 Q/Q Change YTD 2022 YTD 2021 Y/Y Change

Ore Milled (Tonnes) 56,061 56,278 0% 112,347 115,830 -3%

Gold Equivalent Ounces 2,782 2,895 -4% 5,676 6,126 -7%

Gold Grade (Grams/Ton) 1.56 1.64 -5% 1.60 1.65 -3%

Silver Grade (Grams/Ton) 22.90 20.84 10% 21.87 25.65 -15%

Gold Recovery (%) 87.81 88.34 -1% 88.08 88.63 -1%

Silver Recovery (%) 54.83 52.11 5% 53.53 56.72 -6%

Gold: Silver Ratio 75.68 68.55 72.17 86.64

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 Responsibility 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, President & Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT:

EVAN EADIE

Investor Relations

Telephone: (604) 602-4935 x 203

Toll Free: 1-866-602-4935

Email: [email protected]

The Toronto Stock Exchange has not reviewed, nor does it accept responsibility

for the adequacy or accuracy of this press release.