News

June 7, 2011

Shareholders Approve Rights Plan & Financing

Vancouver, British Columbia… Starcore International Mines Ltd. (“Starcore” or the “Company”) reports that at the extraordinary general meeting of shareholders of the Company held on June 3, 2011 (“EGM”), 99.8% of the shareholders present and entitled to vote at the meeting approved the matters presented to them including the following:
  1. The Shareholder Rights Plan (the “Rights Plan”) as first announced in the Company’s press release of May 11, 2011, with details as disclosed in the information circular sent out all shareholders. The Rights Plan has not been instituted in response to any proposal to acquire control of Starcore, nor is Starcore aware of any such proposals. A copy of the Rights Plan is available on SEDAR at www.sedar.com.
  2. Certain portions of the financing announced in its March 25, 2011 press release were subject to shareholder approval. At the EGM, shareholders approved:
    1. the issuance of 12,947,276 Common Shares and 6,473,637 common share purchase warrants, each warrant (a “Warrant”) entitling the holder to purchase a further common share of the Company at a price of $0.15 per share at any time on or before April 7, 2013, upon the deemed exercise of 12,947,276 previously issued special warrants of the Company (the “Special Warrants”);
    2. the issuance of up to 6,473,637 Common Shares upon the exercise of the Warrants; and
    3. the issuance of up to 1,187,455 Common Shares upon exercise of 1,187,455 Finder’s Warrants.
For more information on the Company visit our website at www.starcore.com.

ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.


Signed “Robert Eadie”
Robert Eadie, Chairman & Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie
Telephone: 1-604-602-4935
Toll Free: 1-866-602-4935 / Facsimile: 1-604-602-4936

The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.

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