Mr. Robert Eadie reports

STARCORE ANNOUNCES INCREASE IN MINERAL RESERVES AND MINERAL RESOURCES AS OF APRIL 30, 2024

Starcore International Mines Ltd. has released its estimated mineral reserves and mineral resources as at April 30, 2024, for its San Martin mine, located in Queretaro state, Mexico. The report has been filed on SEDAR+ and is also available on the company's website.

Proven and probable mineral reserves are estimated to contain approximately 96,298 ounces of gold and 710,435 ounces of silver for a total of 104,962 ounces of gold equivalent. Measured and indicated mineral resources are estimated to total approximately 97,396 ounces of gold and 720,623 ounces of silver for a total of 106,185 ounces of gold equivalent. Inferred mineral resources are estimated to total approximately 47,972 ounces of gold and 355,856 ounces of silver giving a total of 52,312 ounces of gold equivalent. The updated mineral reserves and mineral resources estimates are reported net of the production from the San Martin property.

Salvador Garcia, Starcore's chief operating officer of the company, commented: "I am extremely pleased to announce our year-end reserve and resource estimate. With this updated estimate, Starcore has increased San Martin's mineral reserves since operations began in 2008, adding approximately (to date) 286,112 ounces before mining depletion. Our 2023 conversion drilling program has enabled us to grow our reserves and measured and indicated resources. Based on planned conversion and exploration programs for 2024, I am very excited for the potential to add more ounces over the coming year."

For 2024, 104,962 ounces of gold equivalent are reported in mineral reserves, an increase of 27 per cent in reserves compared with the estimate for 2022, where 82,562 ounces of gold equivalent were reported. In this update, a carbonaceous mineral (as referred to in previous news releases) is reported that corresponds with 49,539 of the total reserves included. The metallurgical research and testing completed over the past year by Kappes Cassiday and Associates, of Reno, Nev., have been very positive, and have achieved recoveries of approximately 70 per cent for gold and 55 per cent for silver. With this strong technical support, the company believes it is able to include this carbonaceous ore, which contains a gold grade of approximately 3.1 grams per tonne and 20 grams per tonne of silver, as an economic ore.

This type of material is significant as it is an indication of the existence of enormous potential and supports exploration at depth and in lateral extensions to increase resources and reserves in the short and medium term.

In 2024, Starcore plans to complete over 6,000 metres of drilling across its main mine of San Martin, focused on near-mine exploration for mineral reserve replacement.

About Starcore International Mines Ltd.

Starcore Mines 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.