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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 October 2025 at its San Martin Mine ("San Martin") in Queretaro, Mexico.
Our metal production was lower again this quarter due to two main issues. The first was the presence of clay in the ore, which caused what's known as a "preg-robbing" effect where the clay traps some of the gold, reducing recovery. The second issue was that fine particles of activated carbon (called carbon fines) mixed with the pulp sent to the desorption process (ADR). These carbon fines absorbed gold and silver from the ore, which further lowered overall recovery rates.
To address the clay-related issue, we optimized the use of the CIL plant to improve gold recovery. For the carbon fines problem, we installed two filter presses — one at the discharge of the ADR process and another in the thickener tank where the solution is recycled for reuse.
In addition, to prevent any contamination between the two processing circuits, we are fully separating them. We are also installing a cyanide destruction module, which will allow the carbonaceous ore process to use a cyanide-free solution during grinding.
With these improvements and the construction of the cyanide destruction module, we expect to restart processing the stockpiled carbonaceous ore at the mine this month.
"We will have multiple sources of ore requiring different processing methods so as to continue to produce profitable ounces," stated Salvador García, the Company's Chief Operating Officer.
| 6 Month YTD | |||||||||||||||||||||||||
| San Martin Production | Q2 2026 | Q1 2026 | Q/Q Change | 2026 | 2025 | Y/Y Change | |||||||||||||||||||
| Ore Milled (Tonnes) | 51,960 | 54,247 | -4% | 106,207 | 97,752 | 9% | |||||||||||||||||||
| Gold Equivalent Ounces | 1,860 | 2,130 | -13% | 3,991 | 4,307 | -7% | |||||||||||||||||||
| Gold Grade (Grams/Ton) | 1.33 | 1.47 | -10% | 1.40 | 1.52 | -8% | |||||||||||||||||||
| Silver Grade (Grams/Ton) | 14.48 | 12.88 | 12% | 13.66 | 14.99 | -9% | |||||||||||||||||||
| Gold Recovery (%) | 77.17 | 77.42 | 0% | 77.31 | 83.45 | -7% | |||||||||||||||||||
| Silver Recovery (%) | 49.30 | 54.78 | -10% | 51.94 | 54.40 | -5% | |||||||||||||||||||
| Gold: Silver Ratio | 85.20 | 94.50 | 89.69 | 81.24 | |||||||||||||||||||||
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.
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 x 205
Toll Free: 1-866-602-4935
Email: readie@starcore.com
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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