Starcore Finalizes Silver MINE Lease
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
October 15, 2025 TSX: SAM
FSE:V4JA
NOT FOR DISTRIBUTION IN THE UNITED STATES
STARCORE FINALIZES SILVER MINE LEASE
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”)
announces that through its wholly -owned Mexican subsidiary, Compañ ia Minera Peña de Be rnal, it has
finalized a ten -year lease on land holdings that include a historical past -producing silver mine located in
Queretaro, Mexico. The lease encompasses six mineral claims and concessions, and land comprising what is
commonly known as the San Juan Nepomuceno Project (the “Tortilla Project”).
The Tortilla Project includes a historical mine situated 150 km from the capital, Santiago de Queretaro, 40 km
northeast of the San Martin Mining Unit and 5 km west of the La Negra Mine. Mining activity in the area
dates back to 1557 with records of continuous operation until 1870 under Spanish control. During this period,
the deposit was known as El Doctor Mine. Towards the end of the 19th century, a British company, O. J.
Braniff, resumed exploration activities and installed a processing plant to process minerals from the San Juan
Nepomuceno and Santo Entierro mines. However, operations only lasted two years. There are no historical
production records.
In consideration of an aggregate of MX$5,000,000 (approx. US$268,500), the Definitive Agreement covering
the ten-year lease on the Tortilla Project was finalized on October 9, 2025, with terms as follows:
• MX$2,000,000 (approx. US$107,500) upon signing the Definitive Agreement (paid); and
• Six monthly payments of MX$500,000 (approx. US$27,000) to start on November 9, 2025, with
the last payment due on April 9, 2026.
After all lease payments have been made, the lessor will be entitled to a 2% NSR from mineral production
derived from the Tortilla Project.
During the term of the ten -year lease and for two years thereafter , the lessor has the option to sell all of the
claims and concessions to Starcore at a purchase price of US$5,000.000. The 2% NSR can also be acquired
by Starcore at a purchase price of US$2 million.
Ongoing work on the Tortilla Project has provided valuable information about the continuity and potential of
the mineralized structure of the historical mine.
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Two main mineralized zones have been identified:
• Oxides Zone: Average silver grade: 424 g/t, average gold grade: 0.51 g/t, average sampling width:
1.45 m (width of gallery, not of the entire structure)
• Sulfide Zone: Average silver grade: 973 g/t, average gold grade: 0.43 g/t, average sampling width:
2.80 m
General satellite image of the La Tortilla Project (left) and a general plan with sampling of the mining
infrastructure (right) showing the high grades of the deposit.
The grades tend to increase with depth, suggesting greater potential at lower levels which mirror what historical
records have indicated.
Preliminary metallurgical tests were carried out by flotation on representative samples from the sulfide zone,
with favorable results: silver recovery: 91.49% and gold recovery: 48.25%.
These results demonstrate that the ore is metallurgically treatable by conventional methods, representing a
strong opportunity for economic development.
“We are really excited about the potential and economic value of the Tortilla Project, ” said Robert Eadie,
President and CEO of Starcore. “If our technical and metallurgical analyses are confirmed, we believe this
investment will deliver significant returns for our shareholders."
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.
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ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.
(Sgd.) “Robert Eadie”
Robert Eadie, President & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Telephone: (604) 602-4935
X
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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.