Starcore Enters into Letter of Intent to Acquire the Santa Fe Project

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Vancouver, British Columbia – Starcore International Mines Ltd.  (TSX:SAM) (“Starcore” or the “Company”) is pleased to announce that it  has entered into a Letter of Intent (“LOI”) with Eduardo de la Peña Gaitan and other property owners represented by him (the “Owners”), for Starcore to acquire approximately 21,000 hectares located in the state of Sinaloa, Mexico,  more commonly known as the Santa Fe Project (“Santa Fe” or the “Property”).

Under the terms of the LOI, Starcore will have an exclusive period of up to 120 days to conduct its due diligence on Santa Fe.  Upon satisfactory due diligence, a Definitive Agreement must be executed within 30 days in order for Starcore to complete the acquisition.

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