NOT FOR DISTRIBUTION IN THE UNITED STATES
Vancouver, B.C. -- Further to its news release of May 13, 2024, Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”) is pleased to announce that it has closed its non-brokered private placement (the “Financing”), raising $500,000 in gross proceeds through the issuance of 3,333,333 units (the “Units”) at a price of $0.15 per Unit. Each Unit is comprised of one common share and one common share purchase warrant (the “Warrant”), with each Warrant entitling the holder to purchase one additional common share at $0.25 per share for a period of two years from the date of issue.

As disclosed in its May 13, 2024 news release, proceeds from the Financing will be allocated primarily to conduct metallurgical testing of the carbonaceous ore at Starcore’s San Martin Mine operations in Queretaro, Mexico.

All securities issued in connection with the Financing are subject to a hold period of four months and one day in accordance with applicable Canadian securities laws. No commissions or finders’ fees were paid in connection with the Financing. The Company now has 75,530,184 common shares issued and outstanding following the closing of the Financing.

About Starcore

Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. While this base of producing assets has been complemented by exploration and development projects throughout North America, Starcore intends to expand its reach internationally with the proposed acquisition of a 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, President & Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT:

ROBERT EADIE