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Starcore International Mines Ltd. (TSX: SAM,OTC:SHVLF) ("Starcore" or "the Company") announces that its wholly-owned Mexican subsidiary, Compañía Minera Peña de Bernal S.A. de C.V. ("CMPB"), operator of the San Martín Mine, reached an agreement with the El Doctor Agrarian Community, in the municipality of Cadereyta de Montes, Querétaro, Mexico, granting CMPB the social license to operate the La Tortilla Project ("La Tortilla").
This agreement is for the same 10-year period as the La Tortilla lease has with the concession owner, with an option to renew. The agreement grants CMPB permission to use the access road to La Tortilla, which passes through their communities. The agreement prioritizes the well-being of the communities and the stability and continued operation of La Tortilla.
The general terms of the agreement directly benefit the communities, creating well-paying jobs, contributing to the economic stability of local residents, improving basic medical services, and enhancing the community's quality of life and infrastructure. It also includes the future possibility for the community members to provide transportation services to CMPB, transporting ore from La Tortilla to the processing plant at San Martín.
This is highly relevant because the new Mexican Mining Law, in its edition of May 8, 2023, explicitly states that community consultations will be conducted prior to the granting of the mining concession and simultaneously with the consultation required for the Environmental Impact Assessment (MIA) already in process to be approved by the environmental authorities, SEMARNAT.
Salvador García, B. Eng., the Company's Director and Chief Operating Officer, is the Company's Qualified Person for the project as required by NI 43-101 and 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. The Company's base of producing assets includes its gold-producing San Martin Mine and the La Tortilla silver mine, both in the state of Querétaro, Mexico. 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
Signed "Robert Eadie"
Robert Eadie, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
ROBERT EADIE
Telephone: (604) 602-4935
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 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.
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