Vancouver, B.C. – Starcore International Mines Ltd. (TSX: SAM) (“Starcore” or the “Company”)
announces that through its wholly-owned Mexican subsidiary, Compañia Minera Peña de Bernal, it has
finalized a ten-year lease on land holdings that include a historical past-producing silver mine located in
Queretaro, Mexico. The lease encompasses six mineral claims and concessions, and land comprising what is
commonly known as the San Juan Nepomuceno Project (the “Tortilla Project”).
The Tortilla Project includes a historical mine situated 150 km from the capital, Santiago de Queretaro, 40 km
northeast of the San Martin Mining Unit and 5 km west of the La Negra Mine. Mining activity in the area
dates back to 1557 with records of continuous operation until 1870 under Spanish control. During this period,
the deposit was known as El Doctor Mine. Towards the end of the 19th century, a British company, O. J.
Braniff, resumed exploration activities and installed a processing plant to process minerals from the San Juan
Nepomuceno and Santo Entierro mines. However, operations only lasted two years. There are no historical
production records.
In consideration of an aggregate of MX$5,000,000 (approx. US$268,500), the Definitive Agreement covering
the ten-year lease on the Tortilla Project was finalized on October 9, 2025, with terms as follows:
- MX$2,000,000 (approx. US$107,500) upon signing the Definitive Agreement (paid); and
- Six monthly payments of MX$500,000 (approx. US$27,000) to start on November 9, 2025, with
the last payment due on April Read more…