STARCORE Reports Fourth Quarter Production Results
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - Starcore International Mines Ltd. (TSX: SAM) ("Starcore" or "the Company") announces production results for the fourth fiscal quarter ended April 2026 at its San Martin Mine ("San Martin") in Querétaro, Mexico.
In this quarter we encountered lower grades and tonnage processed. This was due mainly to the fact that the high-grade Manto reserves, which were detected using diamond drilling in the previous quarter, were found to be located between a fault at the top of the Manto and very soft material at the bottom. This makes mining very difficult and is subject to higher dilution. We quickly adjusted to prepare a new high-grade ore body in another area of the mine to counteract this effect, and this new ore body was reached by the end of the quarter.
The geophysical survey announced in the previous quarter was carried out consisting of two surveys: a mobile MT (Magneto Telluric) geophysical survey conducted by Expert Geophysics, covering a total of 91.5 square kilometers, and an IP (Induced Polarization) geophysical survey by Geotem, covering a total of 5.2 square kilometers. The results of the surveys are expected to be known by the end of May. With this, we have practically covered 70% of the 13,000-hectare concession.
"At this time we are focused on increasing the production of ounces in both the oxide ore and the carbonaceous ore, which was producing results from the second half of April. The Carbonaceous ore being processed through the plant is averaging 3 g/t of gold and 25 g/t of silver at a recovery of approximately 80% with milling reaching 100 tons per day by quarter end," stated Salvador García, the Company's Chief Operating Officer.
| 12 Month YTD | ||||||
| San Martin Production | Q4 2026 | Q3 2026 | Q/Q Change | 2026 | 2025 | Y/Y Change |
| Ore Milled (Tonnes) | 45,550 | 52,609 | -13% | 204,366 | 197,880 | 3 % |
| Gold Equivalent Ounces | 1,722 | 2,162 | -20% | 7,874 | 8,916 | -12% |
| Gold Grade (Grams/Ton) | 1.23 | 1.33 | -8% | 1.35 | 1.58 | -15% |
| Silver Grade (Grams/Ton) | 17.33 | 18.29 | -5% | 15.67 | 14.27 | 10% |
| Gold Recovery (%) | 84.17 | 85.72 | -2% | 80.84 | 82.73 | -2% |
| Silver Recovery (%) | 44.85 | 46.37 | -3% | 48.52 | 54.09 | -10% |
| Gold: Silver Ratio | 61.71 | 60.42 | 72.15 | 85.57 | ||

