News

June 5, 2012

Starcore cores 18.2 meters grading 14.61 g/t gold and 113 g/t silver over 4.1meter true width in the San Martin footwall vein.

Vancouver, B.C. — Starcore International Mines Ltd. (the “Company”) is pleased to announce results from drilling at its San Martin Mine in Queretaro, Mexico.

The Company has received confirmation on drill results from the newly discovered area 27 or San Martin footwall vein and has commenced production on a part of this structure. Drill holes SM 104 and SM 106 were designed to test an area in the footwall of the San Martin structure on the other side of a fault against which the Huacales zone was apparently offset. This new structure is located within 50 meters of the main haulage ramp and consequently the first exploration/development level quickly reached the target.

Production in May from this area totaled 6145 tons grading 2.06 grams per ton and 16 grams of silver and intersected hole 104. Development has indicated a structure with between 3 and 5 meters of true width which is offset by crosscutting minor faults up to 3 meters. This San Martin footwall vein dips between 30 and 45 degrees to the southeast.

The following table summarizes recent drill results:

Mine Area ddh ID from
(m)
To
(m)
Intersection
(m)
True width (m) Assay results
Au g/t Ag g/t
Area 27
San Martin footwall vein
DCSM-104 62 84.2 22.2 5 2.03 5
DCSM-106 0 9.4 9.4 3 10.36 59
and 36.55 51.75 15.2 3.5 3.68 14
And* 62.3 80.45 18.2 4.1 14.61 113.5
* This intersection contained 3 sample intervals which returned results greater than 30 grams per tonne of gold and have not been cut.

The assay results are the average of mine lab results with certified commercial lab results. True widths are based on the dip of the hole and the known or estimated dip of the structure in the mine. Due to the number of faults in this area of the mine there are some additional holes that have no economic values. The two holes are on the same bearing and have tested a vertical distance of 17 meters.

The first intersections in hole 106 is the last remnant ore in the Huacales stope which is immediately below and near the main haulage ramp. Drilling is continuing to define the structure along strike and down dip. An additional level is also currently being developed roughly 20 meters below the level 2 development.

“This new area or footwall vein opens up exciting exploration possibilities for us as the entire San Martin section of the mine above level 4 is open for this structure to continue, potentially 700 meters of strike length.” said Robert Eadie, Executive Chairman and CEO of the Company.

David Gunning, P.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.

ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.


Signed “Robert Eadie”
Robert Eadie, Executive Chairman & CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 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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