Starcore International Mines Ltd.: Profitable Q3

Starcore International Mines Ltd. (TSX:SAM) (the "Company") has filed the results for the third quarter ended April 30, 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.

Three months ended April 30, 2013 Third Quarter Highlights:

--  Earnings from mining operations was $2.3 million compared to $2.4
    million in the prior quarter;
      
--  Income for the quarter was $1,517, or $0.01 per share compared to
    $2,319, or $0.02 per share for the prior quarter;
      
--  The following table contains selected highlights from the Company's
    unaudited consolidated statement of operations for the three and nine
    months ending April 30, 2013:

                                                                            
(unaudited) (in thousands of Canadian   Three months ended Nine months ended
 dollars)                                   April 30, 2013    April 30, 2013
----------------------------------------------------------------------------
Revenues                                                                    
Mined ore                                          $ 6,872           $20,586
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Cost of Sales                                                               
Mined Ore                                            4,547            14,644
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Earnings from mining operations                    $ 2,325           $ 5,942
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Net income                                                                  
  (i) Net income                                   $ 1,517           $ 3,490
  (ii) Income per share - basic                    $  0.01           $  0.02
  (iii) Income per share - diluted                 $  0.01           $  0.02
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--  Despite fewer operating days and lower tonnage of production in the
    quarter, the mine improved ore grade to 2.38 g/t and 24.3 g/t for gold
    and silver, respectively, and held recovery at approximately 79% and
    56%, respectively, resulting in an increased metal production to 5,100
    equivalent ounces ("EqOz") of gold compared to 4,800EqOz in the prior
    quarter;
      
--  Mine operating cash costs reduced to $784/EqOz compared to $906/EqOz in
    the prior quarter;
      
--  The following table is a summary of mine production statistics for the
    San Martin mine for the three and nine months ended April 30, 2013:

----------------------------------------------------------------------------
                                      Actual results for Actual results for 
                                          3 months ended     9 months ended 
(Unaudited)        Unit of measure        April 30, 2013     April 30, 2013 
----------------------------------------------------------------------------
Production of Gold                                                          
 in Dore           thousand ounces                   4.5               12.4 
Production of                                                               
 Silver in Dore    thousand ounces                  32.6               78.9 
----------------------------------------------------------------------------
Equivalent ounces                                                           
 of Gold           thousand ounces                5.1(i)            13.9(i) 
                                                                            
Gold recovery      percent                          79.3%              75.7%
Silver recovery    percent                          55.6%              54.9%
Gold grade         grams/tonne                      2.38               2.21 
Silver grade       grams/tonne                      24.3               19.4 
Milled             thousands of tonnes              75.6              231.3 
Operating Cost per                                                          
 tonne milled      US dollars/tonne                   53                 54 
Operating Cost per                                                          
 Equivalent Ounce  US dollars/ounces                 784                908 
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(i) based on actual gold to silver equivalency ratios of 56:1 for the 3     
months and 54:1 for the 9 months ended april 30, 2013.                      

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 Chief Financial Officer and Director 1-604-602-4935 or Toll Free: 1-866-602-4935 1-604-602-4936 (FAX) www.starcore.com