Our metal production was again lower this quarter due to two major issues. The first was the presence of clay in the ore, which caused a so-called ‘preg-robbing’ effect, where the clay retained some of the gold, reducing recovery. The second problem was that fine particles of activated carbon (called carbon fine particles) mixed with the pulp and were sent to the desorption process (ADR). These fine carbon particles absorbed gold and silver from the ore, further reducing overall recovery rates.
To address the clay-related problem, we optimized the use of the CIL plant to improve gold recovery. To address the carbon particulate problem, we installed two filter presses: one at the ADR process discharge and another in the thickening tank where the solution is recycled for reuse.
In addition, to prevent any contamination between the two processing circuits, we separate them completely. We are also installing a cyanide destruction module, which will allow the carbonaceous ore process to use a cyanide-free solution during milling.
With these improvements and the construction of the cyanide destruction module, we expect to resume processing the stored carbonaceous ore at the mine this month.
“We will have multiple ore sources that require different processing methods to continue producing profitable ounces,” said Salvador García, the company’s chief operating officer.
| 6 months YTD | |||||||||||||||||||||||||
| San Martin Production | Q2 2026 | Q1 2026 | Q/Q change | 2026 | 2025 | Y/Y Change | |||||||||||||||||||
| Ore milled (tonnes) | 51,960 | 54,247 | -4% | 106,207 | 97,752 | 9% | |||||||||||||||||||
| Gold equivalent ounces | 1,860 | 2,130 | -13% | 3,991 | 4,307 | -7% | |||||||||||||||||||
| Gold content (gram/ton) | 1.33 | 1.47 | -10% | 1.40 | 1.52 | -8% | |||||||||||||||||||
| Silver content (gram/ton) | 2:48 p.m | 12.88 | 12% | 13.66 | 14.99 | -9% | |||||||||||||||||||
| Gold recovery (%) | 77.17 | 77.42 | 0% | 77.31 | 83.45 | -7% | |||||||||||||||||||
| Silver recovery (%) | 49:30 | 54.78 | -10% | 51.94 | 54.40 | -5% | |||||||||||||||||||
| Gold:Silver Ratio | 85.20 | 94.50 | 89.69 | 81.24 | |||||||||||||||||||||
Salvador Garcia, B. Eng., Company President and Chief Operating Officer, is the Company’s Qualified Person for the project, as required under NI 43-101, and prepared the technical information contained in this press release.
About Starcore
Starcore International Mines is engaged in the production of precious metals with focus and experience in Mexico. While this base of production assets is complemented by exploration and development projects throughout North America, Starcore has expanded its reach internationally with the Ivory Coast project. The company is a leader in corporate social responsibility and advocates value-driven decisions that will increase long-term shareholder value. More information can be found on the investor-friendly website: www.starcore.com.
ON BEHALF OF STARCORE INTERNATIONAL
MINE LTD
Signed “Robert Eadie”
Robert Eadie, Managing Director
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