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Starcore International Mines Ltd. (TSX: SAM,OTC:SHVLF) ("Starcore" or "the Company") announces production results for the 2027 first fiscal quarter ended July 2026 at its San Martin Mine ("San Martin") in Queretaro, Mexico.
Following the discovery of the "Manto" ore deposit reported in the previous quarter, preparations for its exploitation began a move with results that are reflected in the quarter's production. In addition to this, most noteworthy is the sustained, progressive increase in ounces produced from carbonaceous ore process. An integrated process was established independent of the oxidized ore circuit encompassing crushing, grinding, CIL, and ADR stages, as well as water recovery, a key operational requirement for this process is the use of fresh, cyanide-free water during grinding. To achieve this, a cyanide neutralization process was implemented for the solution resulting from the desorption stage at the ADR (Adsorption, Desorption, and Recovery) plant, which has undergone continuous optimization to maximize results. This month, a steady grinding rate of 100 tons per day was achieved, with grades of 2.62 g/t gold and 20.65 g/t silver, and recovery rates of 74.11% for gold and 68.58% for silver.
Pursuant to the geophysical studies conducted across virtually the entire San Martín mining concession (covering 13,000 hectares), interpretations were received this quarter from the companies that carried out the work, alongside a reinterpretation by an external consultant. Based on this, exploration targets have been determined and we are currently tendering drilling contracts combining reverse circulation and diamond drilling techniques.
"We are very excited about this new exploration phase, based on anomalies identified during geophysical surveys at the San Martín mine, as it offers the prospect of continuing mining operations for many more years," stated Salvador García, the Company's Director of Operations.
| 3 Month YTD | ||||||||||
| San Martin Production | Q1 2027 | Q4 2026 | Q/Q Change | 2027 | 2026 | Y/Y Change | ||||
| Ore Milled (Tons) | 49,555 | 45,550 | 9% | 49,555 | 54,247 | -9% | ||||
| Gold Equivalent Ounces | 2,008 | 1,722 | 17% | 2,008 | 2,130 | -6% | ||||
| Gold Grade (Grams/Ton) | 1.35 | 1.23 | 10% | 1.35 | 1.47 | -8% | ||||
| Silver Grade (Grams/Ton) | 14.70 | 17.33 | -15% | 14.70 | 12.88 | 14% | ||||
| Gold Recovery (%) | 85.49 | 84.17 | 2% | 85.49 | 77.42 | 10% | ||||
| Silver Recovery (%) | 58.12 | 44.85 | 30% | 58.12 | 54.78 | 6% | ||||
| Gold: Silver Ratio | 63.64 | 61.71 | 63.64 | 94.50 | ||||||
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. 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 Queretaro, 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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