VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/11/13

Starcore International Mines Ltd. (the "Company") (TSX: SAM) has filed the results for the first quarter ended October 31, 2013 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 www.starcore.com, or SEDAR at www.sedar.com. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.

First Quarter, October 31, 2013 Highlights:

--  Earnings from mining operations was $3.1 million, or 36% of gross
    revenue, compared to $1.3 million, or 19% of gross revenue, in the prior
    year;
--  Income for the quarter was $2.3 million, or $0.02 per share compared to
    a loss of $(346), or $(0.00) per share for the prior year;
--  The following table contains selected highlights from the Company's
    audited consolidated statement of operations for the quarters ended
    October 31, 2013 and 2012:

                                                 October 31,    October 31,
(in thousands of Canadian dollars)                      2013           2012
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Revenues                                       $       8,749  $       6,481
Cost of Sales                                         (5,632)        (5,230)
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Earnings from mining operations                        3,117          1,251
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Net income (loss)
  (i) Net income (loss)                        $       2,296  $        (346)
  (ii) Income per share - basic                $        0.02  $       (0.00)
  (iii) Income per share - diluted             $        0.02  $       (0.00)
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--  The mine improved ore grade significantly for the quarter to 2.89 g/t
    and 27.0 g/t for gold and silver, respectively, and recovery improved in
    the first quarter averaging 88.2% and 56%, respectively, well over the
    results from the prior year when the mine was experiencing recovery and
    grade issues. As a result, overall metal production was much improved
    for the last quarter at 6,900 equivalent ounces ("EqOz"), compared to
    6,300 EqOz in the previous quarter and only 3,900 EqOz in the prior
    year;
--  Mine operating cash costs decreased to US$628/EqOz compared to
    US$705/EqOz in the previous quarter and US$1,073/EqOz in the prior year.
    All-in Sustaining Costs, which includes sustaining capital expenditures,
    exploration, reclamation and corporate and administrative cost were
    US$989/EqOz;
--  The following table is a summary of mine production statistics for the
    San Martin mine for the three months ended October 31, 2013 and for the
    year ended July, 2013:

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                                          Actual results Actual results for
                                      for 3 months ended    12 months ended
(Unaudited)        Unit of measure      October 31, 2013      July 31, 2013
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Production of Gold thousand ounces                   6.3               18.2
 in Dore
Production of      thousand ounces                  37.7                110
 Silver in Dore
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Equivalent ounces  thousand ounces                   6.9               20.1
 of Gold

Silver to Gold                                      60:1               57:1
 equivalency ratio
Gold recovery      percent                          88.2%              77.9%
Silver recovery    percent                          56.4%              53.7%
Gold grade         grams/tonne                      2.89               2.36
Silver grade       grams/tonne                      27.0               21.0
Milled             thousands of tonnes              77.0              307.3
Operating Cost per US dollars/tonne                   56                 55
 tonne milled
Operating Cost per US dollars/ounces                 628                844
 Equivalent Ounce
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"I am very pleased with our financial results, especially in light of lower metal prices," said Robert Eadie, President and CEO of the Company. "Our positive cash flow continues to improve dramatically, highlighting this quarter with record production of 6,900 ounces. We thank the joint efforts of our production team at the mine and our staff at corporate headquarters for making this possible through their hard work and dedication."

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.

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
1-604-602-4935 or Toll Free: 1-866-602-4935
1-604-602-4936 (FAX)
info@starcore.com
www.starcore.com