Starcore Announces Fourth Quarter Production Results

Vancouver, British Columbia–(Newsfile Corp. – May 8, 2024) – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or “the Company”) announces production results for the fourth fiscal quarter ended April 2024, at its San Martin Mine (“San Martin”) in Queretaro, Mexico.

“The fourth quarter results and their increase compared to the third quarter confirm the good performance and positive changes recorded at the San Martin mine,” said Salvador Garcia, Chief Operating Officer of the Company. “This is a process that began over the last two years in the development of a new geological model. As a result, new exploration targets have emerged and new deposits have been discovered, some of good grade and other large volumes of economic ore.”

The new geological model was able to give us clarity to continue to explore in depth the potential of the San Martin deposit. Although the gold and silver are found in carbonaceous ore, the high tonnage available to us and the high potential demonstrated by the new model has led us to launch an intensive exploration program focused on increasing the reserves of economical carbon ore.

As we stated in our last release, carbonaceous ore was not included in our reserve and resource estimates because we were unable to previously process it in our cyanidation plant. Industrial tests carried out during this quarter in our processing plant and some additional tests in outside laboratories have concluded that this carbonaceous ore can be processed for both gold and silver in order to be recovered from economical way.

Salvador Garcia, B. Eng., Director of the Company and Chief Operating Officer, is the Company’s Qualified Person on the Project as required by National Instrument 43-101 and has prepared the technical information contained in this press release .

About Starcore

Starcore International Mines is engaged in the production of precious metals with concentration and experience in Mexico. While this production asset base is complemented by exploration and development projects throughout North America, Starcore has expanded its reach internationally with the recently acquired project in Ivory Coast. The Company is a leader in corporate social responsibility and advocates for 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

(Signed) “Robert Eadie”
Robert Eadie, President and CEO

FOR MORE INFORMATION, PLEASE CONTACT:
ROBERT EADIE
Telephone: (604) 602-4935

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This press release contains “forward-looking” statements and information (“forward-looking statements”). All statements, other than statements of historical fact, included herein, including, without limitation, management’s expectations and the potential of the Company’s plans, are forward-looking statements. Forward-looking statements are based on the beliefs, opinions and projections of the Company’s management, as well as assumptions made by the Company’s management and currently available information, and reflect the beliefs, opinions and projections as of the date the statements are made. . Forward-looking statements involve various risks and uncertainties and, therefore, readers are cautioned 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 undertakes no obligation to update any forward-looking statements or beliefs, opinions, projections or other factors, except as required by law.

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