Mr. Gary Arca reports

STARCORE REPORTS Q1 RESULTS

Starcore International Mines Ltd. has released the results for the first quarter ended July 31, 2024, for the company and its mining operations in Queretaro, Mexico. The full version of the company's financial statements and management's discussion and analysis (MD&A) can be viewed on the company's website and on SEDAR+. All financial information is prepared in accordance with IFRS (international financial reporting standards) and all dollar amounts are expressed in Canadian dollars unless otherwise indicated.

"Our quarterly production continued the trend of the previous two quarters, reporting a healthy income from mining operations and improved metal production," stated Robert Eadie, chief executive officer. "We hope to continue this trend while also beginning our investment in other projects within Mexico and Cote d'Ivoire."

Financial highlights for the three-month period ended July 31, 2024 (unaudited):

• Cash on hand of $5.6-million and working capital of $7.1-million at July 31, 2024;
• Gold and silver sales of $8.88-million;
• Income from mining operations of $2.1-million;
• Income of $400,000, or one cent per share;
• EBITDA (earnings before interest, taxes, depreciation and amortization) of $1.7-million.

An attached table contains selected highlights from the company's unaudited consolidated statement of operations for the quarters ended July 31, 2024, and July 31, 2023.

Production highlights for the three-month period ended July 31, 2024:

• Equivalent gold production of 2,841 ounces;
• Mine operating cash cost of $1,608 (U.S.) per equivalent ounce;
• All-in sustaining costs of $1,866 (U.S.) per equivalent ounce.

An attached table is a summary of mine production statistics for the San Martin mine for the periods ended July 31, 2024, and July 31, 2023, and for the previous year ended April 30, 2024.

Salvador Garcia, BEng, a director of the company and chief operating officer, is the company's qualified person on the project, as required under National Instrument 43-101, and has prepared the technical information contained in this news release.

About Starcore International Mines Ltd.

Starcore is engaged in precious metals production with focus and experience in Mexico. While this base of producing assets has been complemented by exploration and development projects throughout North America, Starcore has expanded its reach internationally with the project in Ivory Coast. The company is a leader in corporate social responsibility and advocates value-driven decisions that will increase long-term shareholder value.

We seek Safe Harbor.