Starcore Enters into Share Purchase Agreement to Acquire Côte d’Ivoire Projects
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
February 3, 2025 TSX: SAM
FSE:V4JA
NOT FOR DISTRIBUTION IN THE UNITED STATES
Starcore Enters into Share Purchase Agreement
to Acquire Côte d’Ivoire Projects
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”)
announces that it has entered into a Share Purchase Agreement to acquire all of the issued and outstanding
shares of K Mining SARL (“K Mining”), a private Ivorian gold exploration company in Abidjan, Côte d’Ivoire
that holds seven gold permit applications covering a total of 1,393 km2, including the Kimoukro Project of 14.47
km2.
The Share Purchase Agreement (the “Agreement”)
In consideration of Cdn$500,000, Starcore acquired all of the issued and outstanding shares of K Mining from
its sole shareholder, SPAM SRL (the “Shareholder”) . The Agreement is subject to acceptance by the
ministerial authorities in Cote d’Ivoire. Upon such acceptance, Starcore will issue a Promissory Note to the
Shareholder, which shall bear interest at the rate of 2.0% per annum, and maturing three years from the date
of issue.
Other Consideration
The Agreement provides for additional payments to be made by Starcore to the Shareholder, on the occurrence
of the following events:
a) Upon receipt by Starcore of a NI 43 -10l compliant report containing a resource estimate of at least
500,000 ounces of gold or gold equivalent on any portion of the exploration permits, Starcore will pay
to the Shareholder the sum of US$500,000.
b) Upon receipt by Starcore of a preliminary positive feasibility report on any portion of the exploration
permits, Starcore will pay to the Shareholder an additional sum of US$500,000.
“With ministerial approval, K Mining becomes a wholly -owned subsidiary of Starcore with exciting gold
exploration projects in the central Ivory Coast,” said Robert Eadie, Chief Executive Officer of the Company.
“This is a key component of our strategic ex pansion and diversification of our portfolio targeted at asset
building for our shareholders.”
- 2 -
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 it s 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 frien dly website at
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
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 statements will prove to be accurate,
and actual results and future event s 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.