May 11, 2011
Vancouver, British Columbia… Starcore International Mines Ltd.
(“Starcore” or the “Company”) announces that its Board of Directors has
approved the adoption of a Shareholder Rights Plan (the “Rights Plan”).
The Rights Plan helps to ensure the fair treatment of Starcore’s
shareholders in the event of any transaction involving a change of
control of the Company.
The Rights Plan provides Starcore’s board and shareholders with
additional time to evaluate any unsolicited takeover bids and provides
the board with adequate time, where appropriate, to seek out
alternatives to maximize shareholder value. The Rights Plan is
effective immediately and is subject to acceptance by the Toronto Stock
Exchange and approval by shareholders at an extraordinary general
meeting of Starcore shareholders to be held on June 3, 2011.
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 included with the information
circular sent out to shareholders and can be viewed on SEDAR at www.sedar.com
For more information on the Company visit our website at www.starcore.com
ON BEHALF OF STARCORE INTERNATIONAL
Signed “Robert Eadie”
Robert Eadie, Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie
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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