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Starcore International Mines Ltd. (TSX: SAM,OTC:SHVLF) ("Starcore" or "the Company") announces production results for the 2027 second fiscal quarter ended October 30, 2026, at its San Martin Mine ("San Martin") in Queretaro, Mexico.
The most notable achievement this quarter was the optimization of the carbonaceous ore processing circuit. We reached our target of processing 100 tons per day, maintaining a grade of 3 grams of gold and 20 grams of silver per ton, with recovery rates of 80% for gold and 70% for silver. In the final month of the quarter, results reached 2,564 dry tons, with a grade of 4.82 g/t gold and 25.3 g/t silver, and recovery rates of 80.7% for gold and 74.2% for silver, with a production of 170 ounces of gold equivalent, with an in-process inventory of 120 ounces of gold equivalent yet to be recovered.
"These actions and achievements give us great confidence that we will soon see improved results for our operation, company and our stakeholders," says Salvador García, Chief Operating Officer of Starcore International Mines.
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 43-101 and has prepared the technical information contained in this press release.
In other news, an aggregate of 7,900,000 incentive stock options has been granted to directors, officers, employees and consultants of the Company at an exercise price of $0.30 per share. The options are exercisable for a period of five years, with 50% becoming fully vested after four months and one day from the date of grant, with the balance becoming vested after the first anniversary of the option grants. The options expire on November 13, 2031 and are subject to the requirements of the Toronto Stock Exchange.
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 permitted La Tortilla silver project, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/324043
