Starcore Enters Cote d'Ivoire Gold Rush with K Mining Acquisition

Starcore International Mines Ltd. (TSX: SAM) has entered into a Share Purchase Agreement to acquire all of the issued and outstanding shares of K Mining SARL (K Mining), a private Ivorian gold exploration company in Abidjan, Côte d’Ivoire. This strategic move allows Starcore to gain control over seven gold permit applications covering a total of 1,393 km2, including the Kimoukro Project of 14.47 km2. The acquisition aligns with Starcore's long-term investment objectives and offers significant growth potential in the high-potential gold region of Côte d'Ivoire.

Côte d'Ivoire's mining sector presents major growth opportunities with untapped mineral reserves, rising production, favorable policies, and infrastructure improvements attracting foreign investment. The country's stable political climate and pro-mining regulations create an attractive environment for mining companies, with a focus on gold mining and critical minerals like lithium and cobalt, as well as energy production from crude oil and natural gas.

Starcore's acquisition of K Mining's projects aligns with the company's strategic objectives, including:

1. Expansion into a high-potential gold region: Côte d'Ivoire is rapidly emerging as a high-potential gold region in West Africa, with significant gold deposits and resources. By acquiring K Mining's projects, Starcore gains a foothold in this promising gold region, which is home to substantial gold deposits and resources, such as Resolute Mining’s Syama deposit, the Sissingué gold mine, and Barrick Gold's Tongon operation.
2. Diversification of the project portfolio: The acquisition of K Mining's projects allows Starcore to diversify its project portfolio, reducing reliance on its existing assets in Mexico. This diversification strategy helps mitigate risks associated with a single geographical location and exposes the company to new opportunities for growth and value creation.
3. Access to a large exploration permit area: K Mining holds seven gold permit applications covering a total of 1,393 km2, including the Kimoukro Project of 14.47 km2. This extensive exploration permit area provides Starcore with a large land package for exploration, increasing the chances of discovering new gold resources and reserves.
4. Potential for significant gold resources: The Kimoukro Project, which is part of the K Mining acquisition, has shown promising results, with a 0.5 km2 wide gold anomaly zone in soil exceeding 5 ppb Au. This indicates the potential for significant gold resources, which could be further validated through exploration activities.
5. Alignment with Starcore's exploration and development strategy: Starcore's acquisition of K Mining's projects aligns with its exploration and development strategy, as the company seeks to build a portfolio of high-quality gold projects with the potential for significant resource growth and value creation. The acquisition of K Mining's projects provides Starcore with an opportunity to advance these projects through exploration, resource definition, and potential development.

In conclusion, Starcore's acquisition of K Mining's Cote d'Ivoire projects is a strategic move that aligns with the company's long-term investment objectives, including expansion into a high-potential gold region, diversification of the project portfolio, access to a large exploration permit area, potential for significant gold resources, and alignment with Starcore's exploration and development strategy. The acquisition offers significant growth potential in the high-potential gold region of Côte d'Ivoire, with its stable political climate and pro-mining regulations.