STARCORE ANNOUNCES 3rd 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
February 17, 2022 TSX: SAM
STARCORE ANNOUNCES
3rd Quarter Production Results
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or “the Company”)
announces production results for the third fiscal quarter ended January 31, 2022, at its San Martin
Mine (“San Martin”) in Queretaro, Mexico.
The production continues to be stable in this quarter as the mine continues to produce profitable
ounces in all areas of the mine, supported by the ongoing cost control measures and positive gold and
silver prices.
Increasing the ore reserves is always a significant goal and this quarter saw the DDH i ntersect
economic ore in a previously unexplored area of the San Martin vein. P reparations are underway to
begin mining this area and we expect to start producing ore by the fourth quarter. This will give more
stability to mine production and increase economic resources.
“Another important area of exploration is proving to be the continuation of the Cuerpo 31 and 32 to
the northwest part of the mine beyond the faults, which define limits of each of Cuerpo (ore body).
In this last quarter, we completed development to the next ore body, Cuerpo 33, and have begun the
preparation to mine additional ore from this area, providing further production stability to our mine,”
stated Salvador Garcia, Chief Operating officer of the Company.
San Martin Production Q3 2022
Q2 2022 Q/Q Change YTD 2022 YTD 2021
Y/Y
Change
Ore Milled (Tonnes) 56,712 56,061 1% 169,060 173,101 -2%
Gold Equivalent Ounces 2,588 2,782 -7% 8,265 9,194 -10%
Gold Grade (Grams/Ton) 1.46 1.56 -6% 1.55 1.66 -6%
Silver Grade (Grams/Ton) 21.13 22.90 -8% 21.62 24.74 -13%
Gold Recovery (%) 88.07 87.81 0% 88.08 88.68 -1%
Silver Recovery (%) 45.83 54.83 -16% 51.01 56.83 -10%
Gold: Silver Ratio 77.92 75.68 73.78 82.48
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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.
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 te rm 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:
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.