NOT FOR DISTRIBUTION IN THE UNITED STATES

Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”) reports the results for the first quarter ended July 31, 2024, for the Company and its mining operations in Queretaro, Mexico. The full version of the Company’s Financial Statements and Management’s Discussion and Analysis can be viewed on the Company’s website at www.starcore.com, or SEDAR+ at www.sedarplus.ca. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.

“Our quarterly production continued the trend of the previous 2 quarters reporting a healthy income from mining operations and improved metal production,” stated Robert Eadie, Chief Executive Officer. “We hope to continue this trend while also beginning our investment in other projects within Mexico and Cote d’Ivoire”.

Financial Highlights for the three-month period ended July 31, 2024 (Unaudited):

Cash on hand is $5.6 million and working capital of $7.1 million at July 31, 2024;
Gold and silver sales of $8.88 million;
Income from mining operations of $2.1 million;
Income of $0.4 million, or $0.01 per share; and
EBITDA(1) of $1.7 million.
The following table contains selected highlights from the Company’s unaudited consolidated statement of operations for the quarters ended July 31, 2024 and 2023:

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https://starcore.com/en/investors/news/2024/starcore-reports-q1-results/