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Starcore Reports Q2 2016 Results

ID: 1422144

(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/16/16 -- Starcore International Mines Ltd. (TSX: SAM) (the "Company") has filed the results for the quarter ended January 31, 2016 for the Company and its mining operations. The full version of the Company''s Financial Statements and Management''s Discussion and Analysis can be viewed on the Company''s website at , or SEDAR at . All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.

Financial Highlights for quarter ended January 31, 2016:

The following table contains selected highlights from the Company''s unaudited consolidated statement of operations for the three and six months ended January 31, 2016 and 2015:

Production Highlights for quarter ending January 31, 2016:

The following table is a summary of mine production statistics for the San Martin mine for three and six months ended January 31, 2016 and the year ended July 31, 2015:

"This quarter we were able to announce two significant milestones; we entered into an agreement to sell our San Pedrito Property, expecting to net the Company approximately US$7million; and we poured our first dore bar from the newly commissioned Altiplano Concentrate Processing Plant located in Matehuala, Mexico. Along with our continued production and positive cash flow from our San Martin mine in Queretaro, we are expanding our profitable footprint in Mexico in accordance with our long term goals." reported Robert Eadie, President of the Company.

About Starcore

Starcore is engaged in exploring, extracting and processing gold and silver through its wholly-owned subsidiary, Compania Minera Pena de Bernal, S.A. de C.V., which owns the San Martin mine in Queretaro, Mexico. The Company is a public reporting issuer on the Toronto Stock Exchange. The Company is also engaged in owning, acquiring, exploiting, exploring and evaluating mineral properties, and either joint venturing or developing these properties further. The Company has interests in properties which are exclusively located in North America.





ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.

Gary Arca, Chief Financial Officer and Director

The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.



Contacts:
Starcore International Mines Ltd.
Gary Arca
Chief Financial Officer and Director
(604) 602-4935
1-604-602-4936 (FAX)

Starcore International Mines Ltd.
Evan Eadie
Investor Relations
(416) 640-1936
Toll Free: 1-866-602-4935

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Bereitgestellt von Benutzer: Marketwired
Datum: 16.03.2016 - 07:45 Uhr
Sprache: Deutsch
News-ID 1422144
Anzahl Zeichen: 2274

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VANCOUVER, BRITISH COLUMBIA


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Mining & Metals


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