NOT FOR DISTRIBUTION IN THE UNITED STATES
Vancouver, B.C. –, Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”) is pleased to report further on its recently announced lease agreement covering six mineral claims and two properties comprising what is commonly known as the San Juan Nepomuceno Project (the “TORTILLA Project”) located in Queretaro, Mexico. (See news release of July 10, 2025.)
The Tortilla Project includes a historical mine situated 150 km from the capital, Santiago de Queretaro, 40 km northeast of the San Martin Mining Unit and 5 km west of the La Negra Mine. Mining activity in the area dates back to 1557 with records of continuous operation until 1870 under Spanish control. During this period, the deposit was known as El Doctor Mine. Towards the end of the 19th century, a British company, O. J. Braniff, resumed exploration activities and installed a processing plant to process minerals from the San Juan Nepomuceno and Santo Entierro mines. However, operations only lasted two years. There are no historical production records.
During the due diligence process, the Company conducted metallurgical testing at its plant using cyanidation as the testing process. After a 72-hour testing period, the results, shown in the table below, indicated a recovery of 56.25% for gold and 78.23% for silver. Leaching with granular activated carbon significantly enhanced gold recoveries, increasing to 79.85%, while silver recoveries rose to 84.75%. This demonstrates that the mineral can be effectively processed using the CIL (carbon-in-leach) process.
Las leyes medias asociadas a la estructura de San Juan Nepomuceno son las siguientes: Au: 0.54–0.95 g/t, Ag: 590–1,200 g/t. Los anchos medios reportados rondan los 1.20 metros; sin embargo, hay indicios de que el espesor podría alcanzar los 5.0 metros o incluso más.
La estructura San Juan Nepomuceno tiene una orientación N290° y una inclinación que varía entre 15° y 30°, con una inclinación hacia el suroeste. La estructura principal se desarrolló dentro de la antigua mina, que muestra un espesor geológico promedio de 5 metros. La extensión longitudinal registrada es de 80 a 120 metros, mientras que verticalmente se ha reconocido hasta una profundidad de 700 metros, siguiendo la inclinación de la estructura. Los trabajos de explotación históricos se llevaron a cabo de forma parcial y artesanal, dejando el potencial y los valores económicos en la parte extrema y basal abiertos como objetivos de exploración.
La zona mineralizada se encuentra en la Formación Soyatal. El principal potencial de la estructura San Juan Nepomuceno reside en las extensiones laterales, que podrían alcanzar hasta 3 kilómetros de longitud. En la parte más profunda de los trabajos, la estructura sigue mostrando altos valores económicos, lo que indica un sistema de mineralización aún abierto en profundidad. Durante el desarrollo del túnel principal, se identificó una estructura secundaria paralela a la veta principal. Esta estructura presenta leyes de hasta 700 g/t de plata (Ag) y un espesor promedio de 0.70 metros, lo que refuerza el interés en el sistema estructural múltiple del yacimiento.
Satellite image showing the potential lateral and depth extension.
The surface outline of the El Doctor thrust is also shown.
Otra zona con un potencial significativo es el empuje El Doctor, situado a 500 m al oeste y que constituye un objetivo geológico, litológico y estructuralmente preparado para el desarrollo de la mineralización. También se ha identificado un segundo objetivo de exploración prioritario en la zona conocida como pared colgante de La Cabalgadura, correspondiente a la formación El Doctor. Esta unidad geológica se considera más favorable para albergar yacimientos minerales más grandes con potencial económico, en comparación con la Formación Soyatal.
SW-NE section of the San Juan Nepomuceno Project, viewed to the NW.
The Company has a 10-year lease covering the claims and the historical mine comprising the Tortilla Project. The lessor will be entitled to a 2% NSR, after all lease payments have been made. During the term of the 10-year lease, the lessor has the option to sell all of the claims and concessions to Starcore at a purchase price of US$7,000.000.
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. 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.
(Sgd.) “Robert Eadie”
Robert Eadie, President & 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.