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Starcore International Mines Ltd. (TSX: SAM,OTC:SHVLF) ("Starcore" or "the Company") announces production results for the third fiscal quarter ended January 2026 at its San Martin Mine ("San Martin") in Queretaro, Mexico.
San Martin production for the quarter improved significantly upon resolution of the previously reported preg-robbing issues in the quarter. The mine reverted to normal expected recoveries for gold and also experienced improved silver grades, resulting in production meeting budgeted targets in the last two months of the quarter.
In addition, the exploration carried out over the past six months to extend the high-grade ore bodies in the northern part of the current operation was successful. We have begun mining these new high-grade extensions which are grading approximately 5 grams of gold and 80 grams of silver per ton.
We also began preparations for a new survey in the northern part of the concession where geophysical studies were conducted more than 15 years ago that revealed some interesting anomalies. These studies were sent for reinterpretation, and based on the results obtained, a new study focussing on the most significant anomalies will be carried out in the next quarter.
"Now that the operation has stabilized, our goal is to focus on the higher-grade extensions to increase metal production, thereby returning the highest profitability, which has always been our guiding principle," stated Salvador García, the Company's Chief Operating Officer.
| 6 Month YTD | ||||||
| San Martin Production | Q3 2026 | Q2 2026 | Q/Q Change | 2026 | 2025 | Y/Y Change |
| Ore Milled (Tonnes) | 52.609 | 51,960 | 1% | 158,816 | 144.482 | 10% |
| Gold Equivalent Ounces | 2,162 | 1,860 | 16% | 6,153 | 6.574 | -6% |
| Gold Grade (Grams/Ton) | 1.33 | 1.33 | 0% | 1.38 | 1.59 | -13% |
| Silver Grade (Grams/Ton) | 18.29 | 14.48 | 26% | 15.19 | 13.72 | 11% |
| Gold Recovery (%) | 85.72 | 77.17 | 11% | 79.99 | 83.09 | -4% |
| Silver Recovery (%) | 46.37 | 49.30 | -6% | 49.72 | 53.02 | -6% |
| Gold: Silver Ratio | 60.42 | 85.20 | 76.00 | 82.62 | ||
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:
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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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