Starcore Commences Exploration in the Golden Triangle, British Columbia

Vancouver, August 29, 2023 - Starcore International Mines Ltd. (TSX: SAM) ("Starcore" or the "Company") today announced the commencement of an exploration program on its 100%-owned Ajax Property located 12 km north of Alice Arm in northwestern B.C. at the southern end of the mineral belt known as the "Golden Triangle". The Company recently contracted with Auracle Geospatial Science Inc. to complete a subsurface structural interpretation and an apparent resistivity study of the Ajax Property using satellite borne radar imaging. This imaging penetrates ground cover and assists in delineating bedrock formations, geological structures and potential mineralizing faults. The results of the work generated several targets that will be followed-up on the property.

The property, 1,718 hectares in size, was acquired by Starcore in 2015 through its purchase of Creston Moly Corp. and its subsidiary, Tenajon Resources Corp. The property hosts the large Ajax porphyry molybdenum developed prospect that has been tested by 48 drill holes, beginning in the mid-1960's. The drill core will be resampled during the fieldwork and assayed for additional elements including gold, silver, cobalt, tungsten and rhenium. In addition, this fieldwork will locate and sample the historic underground mine workings at the Le Roy mineral occurrence which is situated at a considerably lower elevation than the molybdenum porphyry mineralization.

The Ajax property is located approximately 12 km to the southeast of Dolly Varden Silver, 7 km south of Big Bulk and 17 km east of Goliath Resources Golddigger/Surebet property. The Ajax is located within 1 to 3 km of the Triassic - Jurassic contact, termed the Red Line in this area, near which many of the Golden Triangle's mineralized systems occur.

Qualified Person

Ian Webster P.Geo. is the Qualified Person, as defined by National Instrument 43-101, who has reviewed and approved the technical contents of this release.

About Starcore

Starcore International Mines is engaged in precious metals production with focus and experience in Mexico. While this base of producing assets is complemented by exploration and development projects throughout North America, Starcore is driven to expand its reach internationally. The Company is a leader in Corporate Social Responsibility and advocates value driven decisions that will increase long term shareholder value. You can find more information on the investor friendly website here: www.starcore.com.

ON BEHALF OF STARCORE INTERNATIONAL
MINES LTD.

(Signed) "Robert Eadie"
Robert Eadie, Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT:

ROBERT EADIE
Investor Relations
Telephone: (604) 602-4935

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This news release contains "forward-looking" statements and information ("forward-looking statements"). All statements, other than statements of historical facts, included herein, are forward-looking statements. Forward-looking statements are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management and reflect the beliefs, opinions, and projections on the date the statements are made. Forward-looking statements involve various risks and uncertainties and accordingly, readers are advised not to place undue reliance on forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company assumes no obligation to update forward‐looking statements or beliefs, opinions, projections or other factors, except as required by law.

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