Starcore Commences Environmental Rehabilitation Project in Mexico Drilling Begins on El Oro Mine Tailings
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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
June 17, 2024 TSX: SAM
FSE: V4JA
NOT FOR DISTRIBUTION IN THE UNITED STATES
Starcore Commences Environmental Rehabilitation Project in Mexico
Drilling Begins on El Oro Mine Tailings
Vancouver, B.C. - Further to its news release of May 13, 2024 Starcore International Mines Ltd. (TSX:
SAM) (“Starcore” or the “Company”) reports that together with Xali Gold Corporation and Kappes, Cassiday
& Associates (“KCA”), drilling has begun on the El Oro Mine Tailings at El Oro, Mexico, for the purpose of
taking a representative sample which will be used to confirm the process flowsheet. The tailings were the
subject of a 43-101 Resource Study in 2014 which concluded the tailings contain 1.27M tonnes at a grade of
2.94 grams per tonne gold and 75.12 grams per tonne silver (3.85 gpt Au equivalent). KCA’s recent work has
resulted in a recovery of over 75% of the gold and silver, but these results are on composites which did not
access the full depth of the tailings. While the data indicates that the tailings are mineralogically uniform, the
new drill program is designed to provide samples to confirm this assumption. The El Oro Mine tailings are
situated on land owned by the Municipality of El Oro and are bordered by a stream which flows though
developed portions of the municipality. El Oro is one of the named “Pueblo Magico” localities near Mexico
City. Clean-up of these tailings will not only eliminate an environmental risk, but will also release a large block
of land which the Municipality can use for further development.
As previously reported, Starcore has joined forces with KCA to launch an environmental rehabilitation project
to clean up mine tailings from the municipality of El Oro in Mexico. The parties have executed a Memorandum
of Understanding (“MOU”) to enter into a joint venture whereby KCA would provide its expertise and services
for the project aimed at rehabilitating the environment, and Starcore would act as Operator of the joint venture.
It is intended that the MOU will be replaced with a formal JV agreement, subject to: (i) KCA having earned
a 100% interest in Xali Gold’s El Oro Tailings Project by making the agreed-upon payments to Xali Gold,
subject to royalty payments ( see Xali Gold’s news release of Apil 15, 2024 ), (ii) satisfactory drilling and
testing of the El Oro Tailings, and (iii) satisfactory arrangements being negotiated with the municipality of
El Oro.
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 intends to expand its reach internationally with the proposed
acquisition of a project in Côte d’Ivoire. The Company is a leader in Corporate Social Responsibility and
______________________________________________________________________________
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
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
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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 o f 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 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.