Starcore Reports Decline in Production at San Martin Mine

Starcore International Mines Ltd. (TSX: SAM) has reported a decline in production for the first fiscal quarter ending October 2025 at its San Martin Mine located in Queretaro, Mexico. This downturn in metal production is attributed to two primary factors: the presence of clay in the ore and the interaction of fine carbon particles with the extraction process.

The clay’s “preg-robbing” effect has hindered gold recovery, as it traps a portion of the gold within the ore. Additionally, fine particles of activated carbon, known as carbon fines, mixed with the pulp during the desorption process further reduced recovery rates for both gold and silver.

To counter these challenges, Starcore has implemented several measures to enhance recovery rates. The company has optimized the use of its Carbon-in-Leach (CIL) plant to improve gold extraction. In addressing the issue with carbon fines, Starcore has installed two filter presses: one at the discharge of the Adsorption-Desorption-Recovery (ADR) process and another in the thickener tank where the solution is recycled for reuse.

Salvador García, the company’s Chief Operating Officer, emphasized the importance of these improvements, stating, “We will have multiple sources of ore requiring different processing methods so as to continue to produce profitable ounces.” Moreover, Starcore is taking steps to prevent contamination between the two processing circuits by fully separating them.

A cyanide destruction module is also being installed to enable the processing of carbonaceous ore using a cyanide-free solution during grinding. The company anticipates that with these advancements, it will resume processing the stockpiled carbonaceous ore this month.

Starcore International Mines focuses on precious metals production, with significant operations in Mexico and ongoing exploration and development projects across North America. The company is also expanding its reach internationally, including a project in Côte d’Ivoire. Known for its commitment to corporate social responsibility, Starcore aims to make value-driven decisions that enhance long-term shareholder value.

For further information about Starcore, visit their investor-friendly website at www.starcore.com.

In addition, the Toronto Stock Exchange has not reviewed this announcement, and the company assumes no obligation to update forward-looking statements unless required by law.

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This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those anticipated.