VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 12/14/12 — Starcore International Mines Ltd. (TSX: SAM) (the „Company“) has filed the results for the first quarter ended October 31, 2012 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.
Three months ended October 31, 2012 First Quarter Highlights:
„The Company has endured a difficult few months of poor mine production due to production issues which have largely been resolved. We expect to return to historical production levels with improved recovery and ore grade over the next few quarters and to improve cash flows so as to pursue our exploration objectives with a view to finding more reserves, as previously stated,“ said Robert Eadie, Executive Chairman and CEO 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 Mexico.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein may constitute forward-looking statements and are made pursuant to the provisions of Canadian securities laws. Forward-looking statements are statements which relate to future events. Such statements include estimates, forecasts and statements as to management-s expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, objectives and expectations, including with respect to production, exploration drilling, reserves and resources, exploitation activities and events or future operations. In some cases, you can identify forward-looking statements by terminology such as „may“, „should“, „expects“, „plans, „anticipates“, believes“, „estimates“, „predicts“, „potential“, or „continue“ or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry-s actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, the Company does not intend to update any forward-looking statements to conform these statements to actual results.
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 1-604-602-4935 or Toll Free: 1-866-602-4935 1-604-602-4936 (FAX)
Only registered users can comment.
