STARCORE ANNOUNCES Spin-Out of African Properties
July 8, 2025 TSX: SAM
FSE:V4JA
NOT FOR DISTRIBUTION IN THE UNITED STATES
STARCORE ANNOUNCES
Spin-Out of African Properties
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”)
announces its intention to spin out its exploration interests in various permit and permit applications in
a highly prospective region of Cote d’Ivoire, West Africa. Through its wholly -owned subsidiary,
Starcore currently has interests over land holdin gs covering an aggregate area of 1,393 km 2 which
includes the exploration permit granted to its Kimoukro Gold Project.
Starcore intends to advance the African exploration interests by spinning out the Côte d’Ivoire projects
to its wholly-owned subsidiary, EU Gold Mining Inc., (“EU Gold”) that will then seek a separate listing
in Canada. Through a Plan of Arrangement, Starcore will transfer and assign to EU Gold all of
Starcore’s right, title and interest in its mineral property assets in Africa. This will allow Starcore’s
management to focus on its Mexican gold and silver producing asset s, while EU Gold will focus on
developing the mineral properties in Africa.
In consideration for the spin -out, EU Gold will assume all of the liabilities related to the African
properties and will issue one common share of EU Gold for every two issued and outstanding shares
of Starcore. It is expected that Starcore would receive 33,431,758 shares of EU Gold, which Starcore
intends to distribute to its shareholders on a pro-rata basis. “The goal is to maximize shareholder value,
while allowing each company to focus and develop its major asset,” said Robert Eadie, President and
CEO of Starcore. It is intended that EU Gold would attract new management, well-versed in African
diplomacy and culture, with the expertise to work closely with the African team in place at Côte
d’Ivoire.
The Plan of Arrangement will be subject to shareholder and regulatory approvals.
About Starcore
Starcore International Mines is engaged in precious metals production with focus and experience in
Mexico. While this base of producing assets has been 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
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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
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 and Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE Telephone: (604) 602-4935
X
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 s tatements will prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. In particular, there is no assurance (i) the spin out of the
African interests will occur as described above, or at all, (ii) that EU Gold will be able to attract new
management, or (iii) that such corporate reorganization will benefit shareholders in the near or long term. The
Company assumes no obligation to update forward‐looking statements or beliefs, opinions, pro jections or other
factors, except as required by law.