STARCORE ANNOUNCES Second 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 20, 2024 TSX: SAM
FSE: V4JA
NOT FOR DISTRIBUTION IN THE UNITED STATES
STARCORE ANNOUNCES
Second 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 2024, at its San Martin Mine
(“San Martin”) in Queretaro, Mexico.
As announced in our August 21st, 2024 press release, operations at San Martin were suspended
temporarily by the Mexican labor authority after the unfortunate fatality we had in the mine . In
October, all of the safety standards required by the labor authority were completed and the mine
resumed normal operation s. The improvements made to our s afety protocols are to the highest
standards, underscoring our commitment to making San Martin Mine the best and safest work place
for our employees.
“As we announced last quarter, test ing continues to obtain the optimum recovery of gold and silver
from the carbonaceous ore that we have in reserves, which amounts to approximately 1 million tons
with an average grade of 3 .1 grams of gold and 2 0 grams of silver . Based on Kappes Cassiday’s
work thus far in its laboratories in Reno , Nevada, we have received good results and will begin the
industrial testing in mid-December,” stated Salvador Garcia, the Company’s Chief Operating Officer.
3 Month YTD
San Martin Production Q2 2025 Q1 2025 Q/Q Change 2025 2024 Y/Y Change
Ore Milled (Tonnes) 48,248 49,504 -3% 97,752 115,719 -16%
Gold Equivalent Ounces 1,466 2,841 -48% 4,307 4,338 -1%
Gold Grade (Grams/Ton) 1.10 1.92 -43% 1.52 1.27 20%
Silver Grade (Grams/Ton) 9.81 20.03 -51 % 14.99 14.56 3%
Gold Recovery (%) 80.25 85.24 -6% 83.45 84.68 -1%
- 2 -
Silver Recovery (%) 49.16 56.90 -14% 54.40 47.35 15%
Gold: Silver Ratio 85.16 78.72 81.24 82.76
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, opinion s, 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 s tatements 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.