Starcore Reports ON Its Silver Project
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
July 14, 2025 TSX: SAM
FSE:V4JA
NOT FOR DISTRIBUTION IN THE UNITED STATES
STARCORE REPORTS ON ITS SILVER PROJECT
Vancouver, B.C. –, Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”) is
pleased to report further on its recently announced lease agreement covering six mineral claims and two
properties comprising what is commonly known as the San Juan Nepomuceno Project (the “TORTILLA
Project”) located in Queretaro, Mexico. (See news release of July 10, 2025.)
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.
During the due diligence process, the Company conducted metallurgical testing at its plant using cyanidation
as the testing process. After a 72-hour testing period, the results, shown in the table below, indicated a recovery
of 56.25% for gold and 78.23% for silver. Leaching with granular activated carbon significantly enhanced gold
recoveries, increasing to 79.85%, while silver recoveries rose to 84.75%. This demonstrates that the mineral
can be effectively processed using the CIL (carbon-in-leach) process.
Grade of the samples taken for the metallurgical test
HEAD GRADE
Au
(gr/ton)
Ag
(gr/ton)
Cu (5) Pb (%) Zn (%) Se(%) Fe(%)
2.15 968.33 0.01 0.41 0.13 0.48 5.59
Metallurgical Test
Time Standard Leaching +
granular activated carbon
Ore Extraction (%)
Standard Leaching
Ore Extraction (%)
Au Ag Au Ag
24 hours 74.29 78.83 52.42 72.76
48 hours 77.80 82.57 54.84 76.21
72 hours 79.85 84.75 56.25 78.23
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The average grades associated with the San Juan Nepomuceno structure are as follows: Au: 0.54–0.95 g/t, Ag:
590–1,200 g/t. The reported average widths range around 1.20 meters; however, there is physical evidence that
the thickness may reach 5.0 or even more meters.
The San Juan Nepomuceno structure has a N290° orientation and a dip that varies between 15° and 30°, dipping
southwest. The main structure was developed within the old mine, which shows an average geological
thickness of 5 meters. The recorded longitudinal extension is 80 to 120 meters, while vertically it has been
recognized to a depth of 700 meters, following the dip of the structure Historical exploitation works were
carried out partially and artisanal, leaving the potential and economic values at the extreme and basal part open
as exploration targets.
The mineralized zone is hosted by the Soyatal Formation. The main potential of the San Juan Nepomuceno
structure lies in the lateral extensions, which could reach up to 3 kilometers in length. In the deepest part of
the workings, the structure continues to show high economic values, indicating a mineralizing system still open
at depth. During the development of the main tunnel, a secondary structure parallel to the main vein was
identified. This structure presents grades of up to 700 g/t silver (Ag) and an average thickness of 0.70 meters,
reinforcing the interest in the deposit's multiple structural system.
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Satellite image showing the potential lateral and depth extension.
The surface outline of the El Doctor thrust is also shown.
Another area with significant potential is the El Doctor thrust, located 500 m to the west and a geological,
lithological, and structurally primed target for mineralization development. A second priority exploration target
is also identified in the area known as La Cabalgadura hanging wall, corresponding to El Doctor Formation.
This geological unit is considered more favorable for hosting larger ore bodies with economic potential,
compared to the Soyatal Formation.
SW-NE section of the San Juan Nepomuceno Project, viewed to the NW.
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The Company has a 10-year lease covering the claims and the historical mine comprising the Tortilla Project.
The lessor will be entitled to a 2% NSR, after all lease payments have been made. During the term of the
10-year lease, the lessor has the option to sell all of the claims and concessions to Starcore at a purchase price
of US$7,000.000.
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.
(Sgd.) “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 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.