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Starcore International Mines Ltd. (TSX: SAM,OTC:SHVLF) ("Starcore" or "the Company") announces production results for the first fiscal quarter ended July 2025, at its San Martin Mine ("San Martin") in Queretaro, Mexico.
During the quarter, the CIL (carbon-in-leach) process for carbonaceous ore was fine-tuned and necessary adjustments were made to optimize the process. 166 equivalent gold ounces were produced in the quarter from a milling of 5,370 tons of stockpiled ore grading 1.91 g/t of gold and 17.5 g/t of silver and with recoveries of 75% for gold and 65% for silver. The mine is ramping up its production of carbon ore with better grades as well.
With respect to the oxide ore mentioned in the previous quarter's production news release, the San Jose Mine area, located in the southern part of the San Martin mine and the site where San Martin's operations began more than 30 years ago, has yielded considerable reserves at depth. These reserves are being developed and processed to feed the oxide plant, along with the ore from the San Martin mine. The recoveries, however, were found to be slightly lower than those for the San Martin ore as it was determined that the clays - composed of carbonaceous shales - have a preg-robbing effect, absorbing gold and silver from the oxidized ore when in contact with the cyanide solution during processing. As a result, this caused high-solids tailings and lower recoveries, as reflected in the quarter's results. This issue was identified following metallurgical testing and is being adjusted accordingly.
"The new CIL plant represents a great alternative to process ore that cannot be treated by cyanidation as is the case of the ore from the San Jose Mine," stated Salvador García, the Company's Chief Operating Officer
| 3 Month YTD | ||||||
| San Martin Production | Q1 2026 | Q4 2025 | Q/Q Change | 2026 | 2025 | Y/Y Change |
| Ore Milled (Tonnes) | 54,247 | 53,398 | 2% | 54,247 | 49,504 | 10% |
| Gold Equivalent Ounces | 2,130 | 2,342 | -9% | 2,130 | 2,841 | -25% |
| Gold Grade (Grams/Ton) | 1.47 | 1.57 | -6% | 1.47 | 1.92 | -23% |
| Silver Grade (Grams/Ton) | 12.88 | 15.77 | -18% | 12.88 | 20.03 | -36% |
| Gold Recovery (%) | 77.42 | 81.72 | -5% | 77.42 | 85.24 | -9% |
| Silver Recovery (%) | 54.78 | 56.63 | -3% | 54.78 | 56.90 | -4% |
| Gold: Silver Ratio | 94.50 | 92.97 | 94.50 | 78.72 | ||
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
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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