Starcore International Mines Ltd.: Vision Statement-2013
March 04 2013 - 6:45AM
Marketwired Canada
Starcore International Mines Ltd. (TSX:SAM) ("Starcore" or the "Company") is
pleased to present the following:
2012: WHAT WE DID
-- We discovered and developed the San Martin footwall structure (see press
release of June 5, 2012);
-- We extinguished the hedge with Investec Bank plc (see press release of
May 15, 2012);
-- We reclassified the zoning on the San Pedrito land from 'industrial' to
'high-density residential';
-- We resolved the metallurgical recovery problem at San Martin;
-- We commenced our Surface Exploration Program.
Having met the challenges of 2012, the Company has set its goals for 2013. "With
our shareholders' continued support, we are invigorated in our efforts to grow
our asset base and increase shareholder value in a market that continues to
present difficulties globally," said Robert Eadie, President and CEO of the
Company. "Our focus is steadfast."
2013: WHAT WE WANT TO DO
-- PAY OFF DEBT:
-- March 4, 2013: Paid $1 million to Sprott Resource Lending Corp.,
leaving a balance of $3.85 million owing.
-- Enhance shareholder value through new strategic exploration program at
San Martin.
-- Undertake the sale of the San Pedrito land, with proceeds being applied
towards paying down debt and freeing up cash flow earlier than
originally projected, in order to enable the Company to declare
dividends;
-- Declare dividends once debt-free.
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.
ON BEHALF OF STARCORE INTERNATIONAL MINES LTD.
Robert Eadie, Executive Chairman, Interim President and Chief Executive Officer
This press release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, including the planned enhanced exploration
programs and the results thereof, 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 remains consistent with current levels or as set out in
this press release; 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 risks, 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, Executive Chairman,
Interim President and Chief Executive Officer
1-604-602-4935 or Toll Free: 1-866-602-4935
1-604-602-4936 (FAX)
info@starcore.com
www.starcore.com
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