STARCORE ANNOUNCES First 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 19, 2024 TSX: SAM
FSE: V4JA
NOT FOR DISTRIBUTION IN THE UNITED STATES
STARCORE ANNOUNCES
First Quarter Production Results
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or “the Company”)
announces production results for the first fiscal quarter ended July 2024, at its San Martin Mine (“San
Martin”) in Queretaro, Mexico.
“The first quarter results are indicative of the average production we expect to see in the coming
quarters,” said Salvador Garcia, COO of the Company. “The results reflect the current situation at
San Martin and include only the oxide ore. As reported in a previous press release (see news release
of May 13, 2024), we have been researching other methods to get the best recovery of gold and silver
from our carbonaceous ore. To this end, we joined forces with Kappes Cassiday, an engineering firm
headquartered in Reno, Nevada , that specializes in all aspects of heap leaching and cyanide
processing. Based on the results of Kappes Cassiday’s laboratory work over the last few months, we
expect to start the industrial testing of our carbonaceous ore next month.”
3 Month YTD
San Martin Production Q1 2025 Q4 2024 Q/Q Change 2025 2024 Y/Y Change
Ore Milled (Tonnes) 49,504 55,853 -11% 49,504 57,700 -14%
Gold Equivalent Ounces 2,841 3,242 -12% 2,841 1,918 48%
Gold Grade (Grams/Ton) 1.92 1.91 1% 1.92 1.13 70%
Silver Grade (Grams/Ton) 20.03 19.59 2 % 20.03 14.24 41%
Gold Recovery (%) 85.24 88.58 -4% 85.24 83.99 1%
Silver Recovery (%) 56.90 56.86 0% 56.90 45.82 24%
Gold: Silver Ratio 78.72 87.13 78.72 81.98
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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. While this base of producing assets is complemented by exploration and development projects
throughout North America, Starcore has expanded its reach internationally with the project in Côte
d’Ivoire. 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, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Telephone: (604) 602-4935
The Toronto Stock Exchange has not reviewed nor does it accept responsibility
for the adequacy or accuracy of this press release.
This news release contains “forward-looking” statements and information (“forward-looking statements”). All statements,
other than statements of historical facts, included herein, including, without limitation, management’s expectations and the
potential of the Company’s projects, are forward looking statements. Forward-looking statements are based on the beliefs
of Company management, as well as assumptions made by and information currently available to Company’s management
and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve
various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward -looking
statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. The Company assumes no obligation to update forward‐
looking statements or beliefs, opinions, projections or other factors, except as required by law.