About Starcore International Mines

Starcore International Mines Ltd. engages in the mineral resource business. The company is a mineral resource company with projects in various stages. Mineral resource companies that are engaged in the extraction of a known mineral resource are in the production stage. The company falls in this category with its principal property, the San Martin Mine in Queretaro, Mexico, where it engages in extracting and processing gold and silver. The San Martin Mine is the company’s primary source of cash flows. Mineral Properties San Martin Mine, Queretaro, Mexico The San Martin mine is located 47 kilometres, in a straight line, northeast of Queretaro City, Queretaro State. The San Martin Mine complex consists of 8 mining claims that cover 12,991.7805 hectares. The total proven and probable mineral reserves at the San Martin mine as of April 30, 2021 were 1,224,030 tonnes at a grade of 1.99 g Au/t and 19 g Ag/t. Other Mineral Properties In addition to its principal property, the San Martin Mine, the company has other mineral interests in exploration properties, which it does not consider to be material to its operations. El Creston Project, Sonora, Mexico The El Creston molybdenum property is located in the State of Sonora, Mexico, 175 kilometres south of the U.S. Border and 145 kilometers northeast of the city of Hermosillo. The property is known to host porphyry-style molybdenum copper mineralization. Ajax Project, British Columbia The Ajax molybdenum property includes 1,718 hectares and is located 13 km north of Alice Arm, British Columbia. The Ajax property, an undeveloped molybdenum deposit occupying a surface area of approximately 600 by 650 metres, is in the advanced stage of exploration. Governmental Regulations In North America, the company’s production, processing and exploration activities are subject to various levels of federal and state laws and regulations in the countries where it has a presence. These laws and regulations relate to protection of the environment, including requirements for closure and reclamation of mineral exploration properties. In North America, these laws and regulations include the Clean Air Act, the Clean Water Act, the Comprehensive Environmental Response, Compensation and Liability Act, the Emergency Planning and Community Right-to-Know Act, the Endangered Species Act, the Federal Land Policy and Management Act, the National Environmental Policy Act, the Resource Conservation and Recovery Act and the equivalents of these federal laws that have been adopted by the state of Nevada. History Starcore International Mines Ltd. was founded in 1980. The company was incorporated in 1980. The company was formerly known as Starcore International Ventures Ltd. and changed its name to Starcore International Mines Ltd. in 2008.