Starcore Reports Positive Test Results on Processing of Carbonaceous Ore
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
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March 17, 2025 TSX: SAM
FSE:V4JA
NOT FOR DISTRIBUTION IN THE UNITED STATES
Starcore Reports Positive Test Results on Processing of Carbonaceous Ore
Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”) Starcore
is pleased to announce the results of the in-plant test of the CIL circuit to treat carbonaceous ore at its flagship
San Martin mine and processing plant. As previously announced, the Company has been diligent in its efforts
to obtain optimum recovery of gold and silver from the carbonaceous ore in the reserves at San Martin.
Kappes, Cassiday & Associates (“KCA”), an engineering firm headquartered in Reno, Nevada that specializes
in all aspects of heap leaching and cyanide processing, conducted the in-plant test for one month and processed
approximately 2000 tonnes of carbonaceous ore, with a gold grade of 2.2 g/t and silver 20.7 g/t . The test has
confirmed that the plant, as currently configured, can recover over 80% of the gold and 63 % of the silver from
these ores. Carbonaceous ore, which is currently being mined from selected stopes in the San Martin
underground area, can be processed in parallel with the normal oxide ore using an existing ball mill and leach
tanks which are otherwise not being used.
KCA is also modifying the San Martin plant so it can process the carbonaceous ore on a continuous
basis. “Now that the test has been completed, we plan to follow the test by processing 100 tonnes/day of the
carbonaceous ore as part of regular plant production, gradual ly increasing to 180 tonnes/day within a few
months,” said Robert Eadie, Chief Executive Officer of the Company. “The initially accessible carbonaceous
ore has a gold content nearly twice the grade of the 600 tonnes/day of oxide ore and is now being successfully
processed, boosting our expectations that it will significantly increase cash flow.” Further plant modifications,
which will be undertaken by the end of 2025, will allow processing of carbonaceous ore at the full plant
capacity of 800 tonnes per day.
This is an exciting development for San Martin, as processing of the carbonaceous ores has been difficult and
as a result, these have not been accounted for as ore resources. The geological department at San Martin is
continually evaluating these and expects to report a substantial increase in both tonnes and gold grade of the
available resource.
This is a major achievement for San Martin as the carbonaceous mineral reported in the latest NI 43-101
amounts to 880 thousand tonnes in the different proven, probable and inferred categories yielding a total of
77,461 ounces of gold equivalent and the longitudinal and depth potential is open.
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.
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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 its 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
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