Mr. Robert Eadie reports

STARCORE CLOSES SPIN-OUT OF AFRICAN PROPERTIES FOR ISSUE OF CAPITAL DIVIDEND

Starcore International Mines Ltd. has received the final order from the Supreme Court of British Columbia approving the plan of arrangement between Starcore and its wholly owned subsidiary, EU Gold Mining Inc., as announced in its news release of July 8, 2025.

The effective date for the completion of the arrangement will be Feb. 6, 2026, the date on which the arrangement will become legally effective. The record date for the purpose of determining the shareholders of Starcore who will be entitled to receive common shares of EU Gold pursuant to the terms of the arrangement will be the same as the effective date, Feb. 6, 2026. Shareholders of Starcore as of the record date will be issued one common share of EU Gold for every two Starcore shares owned by the Starcore shareholder, which share will be issued to the Starcore shareholders as a return of capital. It is anticipated that Starcore's transfer agent, Computershare Investor Services, will redistribute the EU Gold shares to Starcore shareholders on or about March 5, 2026.

No fractional EU Gold shares will be issued in connection with the arrangement, and no certificates for any fractional shares will be issued. Any fractional EU Gold shares will be rounded to the nearest whole number with fractions of 0.5 rounded up. No cash payment in lieu of any fractional EU Gold shares will be paid.

Under the rules of the Toronto Stock Exchange, Starcore common shares will commence trading ex distribution on the opening of trading on Feb. 6, 2026, with respect to the EU Gold shares to be distributed under the arrangement. Accordingly, the last opportunity for investors to participate in the spinout of EU Gold will be immediately prior to the close of trading on Feb. 5, 2026, on the TSX.

Through the arrangement, Starcore will transfer and assign to EU Gold all of Starcore's right, title and interest in its mineral property assets in Africa. In consideration for the spinout, EU Gold will assume all of the liabilities related to the African properties, in addition to the EU Gold shares to be issued to Starcore, and thereafter redistributed to Starcore's shareholders on a pro rata basis.

The arrangement received shareholder approval at Starcore's annual general meeting held on Oct. 24, 2025, as well as conditional approval from the TSX. "By spinning out the mineral properties in Cote d'Ivoire to EU Gold, Starcore has undergone a corporate restructuring that will enable it to focus on its Mexican gold- and silver-producing assets, which include the San Martin gold mine and the La Tortilla silver mine, both located in Queretaro, Mexico," said Robert Eadie, chief executive officer of Starcore.

EU Gold will focus on developing the mineral properties in Ivory Coast and will seek a listing of its shares on a Canadian stock exchange. Any such listing will be subject to EU Gold meeting all the listing requirements of the exchange.

As a result of the spinout and Starcore's reorganization, the two companies will operate as separate and independent companies. There may be certain common directors and officers between the companies, and Starcore will work with EU Gold to enable its corporate development.

About Starcore International Mines Ltd.

Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. The company's base of producing assets includes its gold-producing San Martin mine and the La Tortilla silver mine, both in the state of Queretaro, Mexico. 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.