STARCORE ANNOUNCES 4th 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
May 15, 2023 TSX: SAM
STARCORE ANNOUNCES
4th Quarter Production Results
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or “the Company”)
announces production results for the fourth fiscal quarter ended April 2023, at its San Martin Mine
(“San Martin”) in Queretaro, Mexico.
All of our efforts over the past year to improve the geological model by investing in new software
and external consultants are beginning to give results. These tools have provided better geological
interpretation of the areas with potential discovery of new ore shoots . The exploration, which had
been halted last quarter, has restarted on the targets identified by the model and will be drilled in the
coming quarter.
“The cost reductions in all areas of the mine and administration are continuing to aid in producing
profitable ounces day by day." stated Salvador Garcia, Chief Operating Officer of the Company.
“During this quarter , we have also been investigating small mines near San Martin as merger
candidates and/or a possible source of further ore to San Martin to allow us to utilize additional idle
capacity of our plant. Currently, our plant is operating at only 73% of capacity and the current
commodity prices make it very favorable to increase processing tonnes from either internal or external
sources.”
12 Month YTD
San Martin Production Q3 2023 Q2 2023 Q/Q Change 2023 2022 Y/Y Change
Ore Milled (Tonnes) 56,821 58,562 -3% 227,811 224,438 2%
Gold Equivalent Ounces 2,409 2,182 10% 9,968 11,165 -11%
Gold Grade (Grams/Ton) 1.46 1.29 13% 1.47 1.58 -7%
Silver Grade (Grams/Ton) 11.35 8.85 28 % 13.49 22.99 -41
Gold Recovery (%) 86.12 85.24 1% 87.10 88.22 -1%
Silver Recovery (%) 48.72 48.95 0% 48.71 51.37 -5%
Gold: Silver Ratio 82.92 80.13 84.85 75.04
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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 term shareholder value. You can find more
information on the investor friendly website here: www.starcore.com
ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
(Sgd.) “Robert Eadie”
Robert Eadie, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Investor Relations
Telephone: (604) 602-4935 x 205
The Toronto Stock Exchange has not reviewed, nor does it accept responsibility
for the adequacy or accuracy of this press release.