May 21, 2013
Vancouver, B.C. — Starcore International Mines Ltd.
(the “Company”) announces production results for the third quarter of
the fiscal year ending April 30, 2013, at its San Martin Mine in
Queretaro, Mexico. The Toronto Stock Exchange has not reviewed nor does it
accept responsibility for the adequacy or accuracy of this press
Over the 3 months of production, we milled 75,643 tonnes of ore at an
average grade of 2.37 g/t gold and 23 g/t silver resulting in the
production of 5,126 gold equivalent ounces. This production represents
an increase in production of 282 equivalent ounces from the previous
Mill recoveries remained constant from last quarter and averaged 79.25%
for gold and 55.6% for silver during Q3. Silver grades are improving;
however, the contribution to equivalent ounces of gold is reduced due to
the rising gold-to-silver ratio.
Historically, Q3 is a difficult production period because of the lowest
number of operating days of any quarter and the occurrence of important
holidays in Mexico that generally require the milling of surface
stockpiles. The creation of these stockpiles results in minimizing
“Production results in the third quarter of fiscal 2012-2013 show that
the operation has stabilized and that we are exceeding our production
targets. We continue to see positive cash flows from mine operations
every month despite the recent drop in the price of gold.” said Robert
Eadie, President & 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 43-101 and has prepared the technical information contained in
this press release.
ON BEHALF OF STARCORE INTERNATIONAL
Signed “Robert Eadie”
Robert Eadie, Executive Chairman, Interim President and
Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-602-4935
Toll Free: 1-866-602-4935 / Facsimile: 1-604-602-4936
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