SAM Starcore International Mines Ltd

Starcore International Mines Ltd. (the "Company") (TSX:SAM) is pleased to
announce results for a recently completed Reserve estimate for its San Martin
Mine in Queretaro, Mexico. 


The result of the estimate, effective as of July 31, 2013, is Proven Reserves of
334,271 tonnes grading 2.40 g/t gold and 25 g/t silver and Probable Reserves of
371,727 tonnes grading 2.61 g/t gold and 22 g/t silver. In combination, Proven
and Probable reserves total 705,998 tonnes at a grade of 2.53 g Au/t and 23.6 g
Ag/t. In addition to the Proven and Probable Reserves, an Inferred Mineral
Resource is estimated at 1,005,000 tonnes at an approximate grade of 2.17 g Au/t
and 20 g Ag/t. Inferred Mineral Resources are not known to the same degree of
certainty as Mineral Reserves and do not have demonstrated economic viability.


In addition to these reserves, some material known to be hosted in carbonaceous
limestone has been omitted from the above total. This material requires some
modifications in the plant to obtain typical recoveries. The company is
investigating options for treatment of this type of mineralization.


The reserve estimate is based on the methods used for the last 14 years by
Luismin, Goldcorp and Starcore at the mine, and modified over the past few years
to try to account for changes in dilution due to the increased reliance on
Tronco ores. These methods and parameters used in preparing the estimate, and
known legal, political, environmental or other risks that could affect the
exploitation of the reserves and resources, are set out in detail in the
technical report that will be filed on SEDAR. 


The estimate was prepared by mine staff in compliance with NI 43-101. David R.
Gunning, P. Eng., who is a qualified person as defined by NI 43-101, has
verified all information used for the estimate. 


The most important assumptions used as the basis for the estimate include:



--  total operating costs of $US70 per metric tonne, 
--  a gold price of US$ 1300 per ounce, and silver price of US$22 per ounce,
--  metal recoveries of 87% for gold and 50% for silver, 
--  resultant cutoff grade of 2.0 grams per tonne gold equivalent, 
--  mining dilution of between 10 and 30% depending on the structure, and 
--  Specific Gravity of 2.6.



The ratio of Probable to Proven Reserves is roughly 1.4:1 and in total there is
66,520 contained gold equivalent ounces (using a 60:1 equivalency factor). The
previous independent reserve estimate at San Martin was compiled as of July 31,
2012 and totaled 651,605 tonnes at 2.21 g/t Au and 30 g/t silver (containing
58,751 equivalent ounces of gold). The 2012 total of 651,605 tonnes consisted of
218,007 tonnes proven and 433,598 tonnes of probable reserves. The 2012 inferred
resource was 998,000 tonnes grading 2.18g/t gold and 27 g/t silver. 


San Martin milled 307,342 tonnes since the last resource estimate at an average
grade of 2.35g/t gold and 21 g/t silver. The proven and probable reserves
outlined above are adequate for two additional years of production. 


In comparison to the reserves estimated in 2012, this year's estimate has
resulted in a modest increase in tonnage by 8% and a similar increase in
equivalent ounces, both of which occurred while milling 263,000 tonnes from the
reserve area. When put in perspective, the mine exploration team is more than
replacing the reserves on a year by year basis. 


The report "Reserves and Resources in the San Martin Mine, Mexico as of July 31,
2013" prepared by David R. Gunning, P. Eng., will be filed on SEDAR and will be
available on the company website www.starcore.com. 


"We continue to maintain two years of reserves while mining 300,000 tonnes per
year," said Robert Eadie, President and CEO of the Company. "We are very pleased
with the deposit and the team exploring it."


David Gunning, P.Eng., a director of the Company and Chief Operating Officer, is
the Company's qualified person on the project as required under NI 43-101and has
prepared the technical information contained in this press release.


ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.

Robert Eadie, Executive Chairman, Interim President and Chief Executive Officer 

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


This press release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, and the expectation that the identification of
new structures will result in the identification of additional reserves, are
forward-looking statements. Although Starcore believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward-looking statements include fluctuations in the price of gold
and general economic, market or business conditions, that there are no
significant disruptions affecting operations, whether due to labour disruptions,
supply disruptions, damage to or loss of equipment, whether as a result of
natural occurrences including flooding, political changes, title issues,
intervention by local landowners, loss of permits, or environmental concerns or
otherwise; and the Company does not change its development and exploration
plans; that the exchange rate between the Canadian dollar, Mexican peso and the
United States dollar remain consistent with current levels; that prices for gold
and silver remain consistent with the Company's expectations; that prices for
key mining supplies, including labour costs and consumables, remain consistent
with the Company's current expectations; that production meets expectations;
that the Company identifies higher grade veins in sufficient quantities of
minable ore; that the geology in as yet to be identified structures are as
expected; Investors are cautioned that any such statements are not guarantees of
future performance and that actual results or developments may differ materially
from those projected in the forward-looking statements. Such forward looking
statements are subject to a number of risk, including those set out in
Starcore's Annual Information Form and annual Management Discussion & Analysis
in Canada available on the SEDAR website at www.sedar.com. Starcore does not
undertake any obligation to release publicly any revisions to any
"forward-looking statement" to reflect events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated events, except
as may be required under applicable securities laws. Investors should not place
undue reliance on forward looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Starcore International Mines Ltd.
Robert Eadie
1-604-602-4935 or Toll Free: 1-866-602-4935
1-604-602-4936 (FAX)
www.starcore.com

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