Mr. Robert Eadie reports

STARCORE ENTERS INTO SHARE PURCHASE AGREEMENT TO ACQUIRE COTE D'IVOIRE PROJECTS

Starcore International Mines Ltd. has entered into a share purchase agreement to acquire all of the issued and outstanding shares of K Mining SARL, a private Ivorian gold exploration company in Abidjan, Ivory Coast, that holds seven gold permit applications covering a total of 1,393 square kilometres, including the Kimoukro project of 14.47 square kilometres.

The share purchase agreement

In consideration of $500,000, Starcore acquired all of the issued and outstanding shares of K Mining from its sole shareholder, SPAM SRL. The agreement is subject to acceptance by the ministerial authorities in Ivory Coast. Upon such acceptance, Starcore will issue a promissory note to the shareholder, which shall bear interest at the rate of 2.0 per cent per annum and mature three years from the date of issue.

Other consideration

The agreement provides for additional payments to be made by Starcore to the shareholder, on the occurrence of the following events:

1. Upon receipt by Starcore of a National Instrument 43-101 compliant report containing a resource estimate of at least 500,000 ounces of gold or gold equivalent on any portion of the exploration permits, Starcore will pay to the shareholder the sum of $500,000 (U.S.).
2. Upon receipt by Starcore of a preliminary positive feasibility report on any portion of the exploration permits, Starcore will pay to the shareholder an additional sum of $500,000 (U.S.).

"With ministerial approval, K Mining becomes a wholly owned subsidiary of Starcore with exciting gold exploration projects in the central Ivory Coast," said Robert Eadie, chief executive officer of the company. "This is a key component of our strategic expansion and diversification of our portfolio targeted at asset building for our shareholders."

About Starcore International Mines Ltd.

Starcore is engaged in precious metal 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.