RAB Special Situations L.P.

Starcore International Ventures Inc.

January 06, 2005 15:30 ET

RAB SPECIAL SITUATIONS L.P./Starcore International Ventures Inc.- Announcement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RAB SPECIAL SITUATIONS L.P.

AND STARCORE INTERNATIONAL VENTURES INC.

TSX VENTURE SYMBOL: SAM

JANUARY 6, 2005 - 15:30 ET

RAB SPECIAL SITUATIONS L.P./Starcore International
Ventures Inc.- Announcement

LONDON, UNITED KINGDOM--(CCNMatthews - Jan. 6, 2005) - RAB Special
Situations L.P. ("Special Situations") announces that it subscribed for
a total of 1,700,000 units of Starcore International Ventures Inc. (TSX
VENTURE:SAM)(the "Company") (the "Units") at a price of Cdn.$0.45 per
Unit. Each Unit consists of one common share in the capital of the
Company (a "Share") and one share purchase warrant (a "Warrant") of the
Company. Each whole Warrant entitles Special Situations to acquire one
additional Share of the Company (a "Warrant Share") at a price of
Cdn.$0.60 per Warrant Share for a period of two (2) years from Closing.
The transaction took place off the market by way of private placement
and closed on December 24, 2004.

Special Situations has ownership of and control over the securities
purchased in the Private Placement. The purchased securities represent
approximately 30.37% of the issued and outstanding Shares on a partially
diluted basis (assuming exercise of its Warrants) ("Partially Diluted
Basis").

Immediately after the Private Placement, Special Situations owned
1,700,000 Shares and 1,700,000 Warrants representing approximately
30.37% of the issued and outstanding Shares on a Partially Diluted Basis.

Special Situations purchased Units for investment purposes only and not
with the purpose of influencing the control or direction of the Company.
Special Situations together with joint actors, if any, may, subject to
market conditions, make additional investments in or dispositions of
securities of the Company in the future, including additional purchases
of Shares. Special Situations and its joint actors, if any, do not,
however, intend to acquire 20% of any class of the outstanding voting or
equity securities of the Company.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    RAB Special Situations L.P.
    Mr. Neil Warrender
    (44) 20-7389-7000
    nw@rabcap.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.