May 30, 2014
Vancouver, B.C. — Starcore International Mines Ltd.
(the “Company”) announces production results for the fiscal 2014 third
quarter, ending April 30, 2014, at its San Martin Mine in Queretaro,
Mexico. During the third quarter, the San Martin mine produced 5,338
gold equivalent ounces.
The third quarter is typically our most difficult because it covers a
shorter time period than other quarters mainly due to February being the
shortest month of the year. The third quarter also contains “Holy
Easter Week” celebrations with vacations impacting throughput at the
mine, and this year the early arrival of the rainy season caused some
short unexpected grid power interruptions.
Despite these issues, the mine produced 5,338 gold equivalent ounces
during the quarter representing an increase in production of 4% from the
same quarter in the previous year. A total of 75,375 tonnes were
milled during the quarter at an average grade of 2.34 g/t gold and 23
g/t silver. Mill recoveries averaged 86.3% for gold and 51.4% for
silver. Based on the metal prices during the quarter, a gold silver
equivalency factor of 64.2:1 was realized for production.
“Although we were shy of our target for the quarter, the Company
continues to outperform the previous year’s accomplishments,” said
Robert Eadie, President of Starcore. “We will continue to improve
production as management remains steadfast in its commitment to deliver
shareholder value and enhance our asset base.”
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
Signed “Robert Eadie”
Robert Eadie, Executive Chairman, President & 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
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