Goldsource Mines Inc. Announces $250,000 Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BRITISH COLUMBIA -- (Marketwired - Dec. 2, 2013) - Goldsource Mines Inc. ("Goldsource" or the "Company") (TSX VENTURE:GXS) (FRANKFURT:G5M) announces that further to its joint news release on November 26, 2013 with Eagle Mountain Gold Corp. ("Eagle Mountain") regarding the companies' proposed business combination, it is arranging a private placement of up to 2,083,334 units at a price of $0.12 per unit for gross proceeds of up to $250,000. Each unit will consist of one common share of Goldsource and one-half of a warrant of Goldsource, with each whole warrant being exercisable for one common share of Goldsource at a price of $0.20 per share for a 24-month term.

Net proceeds from the private placement will be used for general working capital purposes. Certain of Goldsource's insiders may participate in the private placement. The private placement is subject to regulatory approval and resale of the shares will be subject to a hold period of four months and one day following the closing date of the private placement.

The exchange ratio for the proposed business combination between Goldsource and Eagle Mountain will be adjusted to account for the private placement when completed.


NO U.S. REGISTRATION

The securities referred to in this press release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.


J. Scott Drever, President
Goldsource Mines Inc.



Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



CONTACT INFORMATION

Goldsource Mines Inc.
Fred Cooper
(604) 694-1760
Toll Free: 1-866-691-1760 (Canada & USA)
(604) 694-1761 (FAX)
info@goldsourcemines.com
www.goldsourcemines.com