Board Change • Mar 31
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Jordan Estra was the last independent director to join the board, commencing their role in 2010. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 19
Starcore International Mines Ltd. (TSX:SAM) completed the Spin-Off of EU Gold Mining Inc. Starcore International Mines Ltd. (TSX:SAM) agreed to spin off EU Gold Mining Inc. on July 8, 2025. Shareholders of Starcore as of the Record Date will be issued one common share of EU Gold for every two Starcore shares owned by the Starcore shareholder, which share will be issued to the Starcore Shareholders as a return of capital. The record date for the purpose of determining the shareholders of Starcore who will be entitled to receive common shares of EU Gold pursuant to the terms of the Arrangement will be the same as the effective date, February 6, 2026. Under the terms, Starcore International Mines is making spin out its exploration interests in various permit and permit applications in a highly prospective region of Cote d'Ivoire, West Africa. Starcore intends to advance the African exploration interests by spinning out the Côte d'Ivoire projects to its wholly-owned subsidiary, EU Gold Mining Inc., ("EU Gold") that will then seek a separate listing in Canada. Through a Plan of Arrangement, Starcore will transfer and assign to EU Gold all of Starcore's right, title and interest in its mineral property assets in Africa. This will allow Starcore's management to focus on its Mexican gold and silver producing assets, while EU Gold will focus on developing the mineral properties in Africa. In consideration for the spin-out, EU Gold will assume all of the liabilities related to the African properties and will issue one common share of EU Gold for every two issued and outstanding shares of Starcore. It is expected that Starcore would receive 33,431,758 shares of EU Gold, which Starcore intends to distribute to its shareholders on a pro-rata basis. As per the transaction, the dissent Shares shall be cancelled and an amount equal to the share capital attributable to such cancelled dissent shares shall be subtracted from the share capital of the SAM shares.
The Plan of Arrangement will be subject to shareholder and regulatory approvals. As of October 24, 2025, the shareholders of Starcore International Mines Ltd. approved the transaction. The transaction is expected to close on February 6, 2025.
Starcore International Mines Ltd. (TSX:SAM) completed the Spin-Off of EU Gold Mining Inc. on March 17, 2026. As a result of the closing of the Plan of Arrangement, shareholders of Starcore as at the record date of February 6, 2026 were issued one common share of EU Gold for every two Starcore shares owned on that date. The Company is pleased to announce the re-appointment of Tanya Lutzke as an additional director, following a brief hiatus. Reported Earnings • Mar 02
Third quarter 2026 earnings released: EPS: CA$0.01 (vs CA$0.004 in 3Q 2025) Third quarter 2026 results: EPS: CA$0.01 (up from CA$0.004 in 3Q 2025). Revenue: CA$13.5m (up 50% from 3Q 2025). Net income: CA$1.30m (up 343% from 3Q 2025). Profit margin: 9.6% (up from 3.3% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year whereas the company’s share price has increased by 89% per year. 
