STARCORE ANNOUNCES Fourth 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 8, 2024 TSX: SAM
FSE: V4JA
NOT FOR DISTRIBUTION IN THE UNITED STATES
STARCORE ANNOUNCES
Fourth 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 2024, at its San Martin Mine (“San
Martin”) in Queretaro, Mexico.
“The fourth quarter results and its increase over th e third quarter confirm the good performance and positive
changes experienced at San Martin Mine,” stated Salv ador Garcia, Chief Operating Officer of the Company.
“This has been a process which started in the last two years in developing a new geological model. As a result,
new exploration targets have emerged and new ore bodies were discovered, some of good grade and others of
high volumes of economical ore.”
The new geological model was able to give us clarity to continue exploring the potential of the San Martin ore
body to depth. Although the gold and silver is in carbonaceous ore, the high tonnage we have available and the
high potential shown from the new model led us to be gin an intensive exploration program focused on
increasing the reserves of the economical carbonaceous ore.
As we stated in our last release, the carbonaceous or e has not been included in our reserves and resources
estimates as we were previously unable to process it in our cyanidation plant. The industrial test carried out
during this quarter in our process plant and some additional tests in outside labs have led to the conclusion that
this carbonaceous ore is able to be treated for both gold and silver to be recovered economically.
12 Month YTD
San Martin Production Q4 2024 Q3 2024 Q/Q Change 2024 2023 Y/Y Change
Ore Milled (Tonnes) 55,853 52,736 6% 224,307 227,811 -2%
Gold Equivalent Ounces 3,242 2,514 29% 10,094 9,968 1%
Gold Grade (Grams/Ton) 1.91 1.58 20% 1.5 1.47 2%
Silver Grade (Grams/Ton) 19.59 14.57 34% 15.82 13.49 17%
Gold Recovery (%) 88.58 89.08 -1% 87.00 87.10 0%
Silver Recovery (%) 56.86 50.31 13% 50.93 48.71 5%
Gold: Silver Ratio 87.13 86.04 84.91 84.85
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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 me tals production with focus and experience in Mexico.
While this base of producing assets is complemented by exploration and devel opment projects throughout
North America, Starcore has expanded its reach intern ationally with the recently acquired project in Côte
d’Ivoire. The Company is a leader in Corporate So cial 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:
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 managem ent, 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 resu lts 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.