Starcore Enters into Share Purchase Agreement to Acquire Cote d'Ivoire Projects

Core Viewpoint - Starcore International Mines Ltd. has entered into a Share Purchase Agreement to acquire K Mining SARL, a private gold exploration company in Côte d'Ivoire, which holds seven gold permit applications covering a total area of 1,393 km², including the Kimoukro Project of 14.47 km² [1]. Agreement Details - The acquisition cost is Cdn$500,000, and the agreement is subject to approval by the ministerial authorities in Côte d'Ivoire. Upon approval, Starcore will issue a Promissory Note to the sole shareholder, SPAM SRL, with an interest rate of 2.0$500,000 will be paid upon receipt of a NI 43-101 compliant report estimating at least 500,000 ounces of gold or gold equivalent on any exploration permits [3]. - An additional US$500,000 will be paid upon receipt of a preliminary positive feasibility report on any portion of the exploration permits [4]. Strategic Importance - The acquisition will make K Mining a wholly-owned subsidiary of Starcore, enhancing its gold exploration projects in central Côte d'Ivoire. This move is part of Starcore's strategic expansion and diversification aimed at asset building for shareholders [5]. - Starcore is primarily engaged in precious metals production, with a focus on Mexico, and has expanded its operations internationally, including the new project in Côte d'Ivoire. The company emphasizes Corporate Social Responsibility and aims to increase long-term shareholder value [5].