Starcore Reports Year End 2019 Results

(firmenpresse) -
Vancouver, B.C. - Starcore International Mines Ltd. (TSX: SAM) (Starcore or the Company) has filed the results for the year end dated April 30, 2019 for the Company and its mining operations in Queretaro, Mexico and toll processing operations in Matehuala, Mexico. The full version of the Company''s Financial Statements and Management''s Discussion and Analysis can be viewed on the Company''s website at www.starcore.com, or SEDAR at www.sedar.com. 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 the year ending April 30, 2019 (audited):

- Cash on hand is $2.5 million at April 30, 2019;
- Gold and silver sales of $32.8 million, including $5.7 million of purchased concentrate processing revenue;
- Net loss of $11.8 million, or $0.24 per share, which includes a non-cash impairment charge of $4.8 million against mining assets;
- EBITDA(1) of $(24);

The following table contains selected highlights from the Companys audited consolidated statement of operations for the year ended April 30, 2019 and April 30, 2018:

(in thousands of Canadian dollars) Year Year
Ended Ended
(audited) April April
30 30
, 2019 , 2018
Revenues $-32,79$
5 -27,807

Cost of Sales -(32,75-(32,73
9 5)
)
Earnings (Loss) from mining -36 -(4,928
operations )


Administrative Expenses - (4,28- (5,29
4 1)

)
Impairment of Mining Interest, -(4,804-(6,713
plant and ) )
equipment

Allowance for receivables -(441) --
Disposal of Exploration and Evalua -(82) -(1,013
tion )
Asset
Income tax recovery (expense) -(2,229-5,945
)

Net Loss $ -(11,$ -(12,
804) 000)

(i) Income (Loss) per share $-(0.24$
- ) -(0.24)
basic

(ii) Income (Loss) per share $-(0.24$
- ) -(0.24)
diluted

Reconciliation of Net income to EBITDA(1)
Year Year
(in thousands of Canadian dollars) (Unaudite Ended Ended
d) April April
3 30
0, 2019 , 2018
Net Loss $-(11,80$
4) -(12,00
0)

Allowance for receivable -441 --
Disposal of Exploration and Evaluation Asset -82 -1,013
Impairment of Mining Interest, plant and -4,804 -6,713
equipment

Income tax expense (recovery) -2,229 -(5,945
)

Interest -325 -83
Depreciation and depletion -3,899 -4,913
EBITDA $-(24) $
-(5,223
)

EBITDA MARGIN(2) (0.1%) (18.8
%)

(1) -EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) is a non-GAAP financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another Corporation. The Corporation uses this non-GAAP measure which can also be helpful to investors as it provides a result which can be compared with the Corporations market share price.
(2)-EBITDA MARGIN is a measurement of a companys operating profitability calculated as EBITDA divided by total revenue. EBITDA MARGIN is a non-GAAP financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another Corporation. The Corporation uses this non-GAAP measure which can also be helpful to investors as it provides a result which can be compared with the Corporations market share price.

Production Highlights for the year ended April 30, 2019:

- Equivalent gold production of 16,392 ounces;
- Mine operating cash cost of US$1,061/EqOz;
- All-in sustaining costs of US$1,336/EqOz;

The following table is a summary of mine production statistics for the San Martin mine three and twelve months ended April 30, 2019 and for the previous twelve months ended April 30, 2018:

Unit of Actual Actual Actual
measure results results results
for for for

3 months 12 months 12 months
ended ended ended

April 30, April 30, April 30,
201 201 201
9 9 8
Production of thousand 3.6 13.7 11.9
Gold in ounces
Dore

Production of thousand 37.7 224.5 102.1
Silver in ounces
Dor
e
Equivalent ounces thousand 4.1 16.4 13.2
of ounces
Gold


Silver to Gold 84.9 81.9 78.2
equivalency
ratio

Gold grade grams/tonn1.83 1.63 1.62
e

Silver grade grams/tonn29.9 39.6 21.3
e

Gold recovery percent 86.0% 86.2% 84.5%
Silver recovery percent 54.4% 58.4% 55.2%
Milled thousands 72.0 301.9 269.6
of
tonnes

Operating Cost US 61 58 61
per tonne dollars/t
milled onne

Operating Cost US 1,081 1,061 1,237
per Equivalent dollars/o
ounce unces

About Starcore

Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. This base of producing assets is complemented by exploration and development projects throughout North America. The company is a leader in Corporate Social Responsibility and advocates value driven decisions that will increase long term shareholder value. You can find more information on the investor friendly website here: www.starcore.com.

ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.

Signed Gary Arca-----
Gary Arca, Chief Financial Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

GARY ARCA-
Telephone: (604) 602-4935 --
Facsimile: 1-604-602-4936

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

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Datum: 30.07.2019 - 14:51 Uhr
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