Mr. Robert Eadie reports

STARCORE REPORTS FIRST QUARTER 2015 RESULTS

Starcore International Mines Ltd. has filed the results for the three months ended Oct. 31, 2014, 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 or SEDAR. All financial information is prepared in accordance with IFRS (international financial reporting standards), and all dollar amounts are expressed in Canadian dollars unless otherwise indicated.

First quarter ended Oct. 31, 2014, highlights:

• Earnings from mining operations were $500,000, or 6 per cent of gross revenue, compared with $3.1-million, or 36 per cent of gross revenue, in the comparative quarter.
• Net earnings after taxes for the quarter were $900,000, or one cent per share, compared with $2.3-million, or two cents per share, for the prior comparative quarter. Current-quarter net earnings were largely due to current and deferred tax recoveries of $900,000.
• An attached table contains selected highlights from the company's unaudited consolidated statement of operations for the three months ended Oct. 31, 2014, and 2013.

 SELECTED HIGHLIGHTS FROM THE COMPANY'S CONSOLIDATED STATEMENT OF OPERATIONS
                    (in thousands of Canadian dollars)
                                                          Three months ended
                                                      Oct. 31,       Oct. 31,
                                                         2014           2013

Revenues                                              $ 7,669        $ 8,749
(Cost) of sales                                        (7,218)        (5,632)
Earnings from mining operations                           451          3,117
Net income
(i) Net income                                          $ 870        $ 2,296
(ii) Income per share -- basic                         $ 0.01         $ 0.02
(iii) Income per share -- diluted                      $ 0.01         $ 0.02

-- The lower earnings were largely due to lower metal production coupled
   with lower metal prices in the quarter. Overall metal production was
   lower for the quarter at 5,382 equivalent ounces, compared with 6,920 
   equivalent ounces in the previous year. Mine ore grade for the quarter
   decreased to 2.36 grams per tonne and 18.2 g/t for gold and silver, 
   respectively, compared with an average of 2.55 g/t and 24.2 g/t for the 
   prior year, respectively.
-- Mine operating cash costs increased over all to $916 (U.S.) per equivalent
   ounce compared with an average of $750 (U.S.)/equivalent ounce in the 
   previous year, due mainly to lower metal production coupled with higher 
   input costs in the current period compared with the prior-year average. 
   All-in sustaining costs, which include sustaining capital expenditures, 
   exploration, reclamation, corporate and administrative, and share-based 
   compensation cost, were $1,094 (U.S.)/equivalent ounce, compared with 
   $989 (U.S.) in the comparative quarter.

An attached table shows a summary of mine production statistics for the San Martin mine for the three months ended Oct. 31, 2014, and for the year ended July, 2014.

        SUMMARY OF MINE PRODUCTION STATISTICS FOR THE SAN MARTIN MINE

                                                 Actual results         Actual
                                                      for three    results for
                                                   months ended      12 months
                                                        Oct. 31,    ended July
                                Unit of measure            2014       31, 2014

Production of gold in dore      thousand ounces             5.0           22.0
Production of silver in
dore                            thousand ounces            25.9          126.5
Equivalent ounces of gold       thousand ounces            5.38           24.0
Silver-to-gold equivalency
ratio                                                    67.6:1         62.7:1
Gold grade                      grams per tonne            2.36           2.55
Silver grade                        grams/tonne           18.24           24.2
Gold recovery                          per cent            83.9%          87.1%
Silver recovery                        per cent            56.2%          52.7%
Milled                      thousands of tonnes            78.6          308.6
Operating cost per tonne
milled                       U.S. dollars/tonne             $63            $58
Operating cost per
equivalent ounce             U.S. dollars/ounce            $916           $750

"As stated in our previous production news release, while we experienced lower-than-expected ore grade and recoveries in this last quarter, we fully expect to meet our annual projections for 2014," said Robert Eadie, president of the company. "Starcore maintains its strong cash position and will continue to build on that cash position by undergoing a cost-reduction plan in the coming year."