Source Exploration Corp.

Source Exploration Corp.

February 17, 2010 09:30 ET

Source Awards Drilling Contract for Additional Drilling at San Acacio Project, Zacatecas, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 17, 2010) - SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (TSX VENTURE:SOP) is pleased to announce that the company has awarded a diamond drilling contract with Techmin Services de Mexico, S.A. de C.V. for up to an additional 4,000 metres of HQ and NQ diameter core at its San Acacio silver project located at Zacatecas, Mexico. The drilling will be carried out as an extension to the recently completed 2,500 metre phase one contract. The drilling will target the downward extension to depth of the San Acacio vein system as well as extensions of the recently discovered high grade Veta Natividad vein system. As previously reported in the News Release dated January 7, 2010, the discovery hole for Veta Natividad vein intersected a high grade silver interval with assays of 3,090 g/t silver, 0.57 g/t gold, 0.04% copper, 0.92% lead and 3.27% zinc over a core length of 0.3 metres in a highly oxidized breccia zone. The high grade mineralization is contained within a 1.3 metre mineralized interval that returned a weighted average grade of 769 g/t silver, 0.15 g/t gold, 0.01% copper, 0.23% lead and 0.75% zinc.

Brian Robertson, President and CEO stated, "We are encouraged by the discovery of the high grade Veta Natividad vein system at the San Acacio property. This new drilling contract will allow Source to further explore the potential of both the Veta Natividad and Veta Grande vein systems."

The San Acacio property, which hosts the Veta Grande vein system, is a former silver producer located in the world renowned silver producing of Zacatecas in Central Mexico. The Zacatecas Silver Belt is one of the most prolific silver producing areas in the world, hosting some of the world's largest silver deposits , including the Real de Angeles, Fresnillo and Zacatecas silver mines which, combined, have produced over 1.5 billion ounces of silver (Source: Western Silver Annual Report 2003).

A geological technical report prepared by B.J. Price Geological Consultants Inc. and R. Von Boeck in compliance with NI-43-101 states "Since discovery of silver in the Zacatecas mining district in 1546, it was estimated that 180 million ounces of silver have been extracted from the Veta Grande vein complex." The report also references a historical drilled inferred mineral resource calculated by Silver Standard in 1996 of 2,465,314 tonnes grading 182.4 g/tonne (5.40 oz/ton) containing 449,580.3 kilograms of silver or 14,445,000 ozs. of silver. The estimate is a historical estimate and should not be relied upon because it is not NI 43 -101 compliant. Source Exploration Corp has not independently verified the resource estimate.

Techmin Services de Mexico, S.A de C.V. is a diamond drilling contractor with corporate offices located in the City of Fresnillo, Zacatecas, Mexico that provides full scale diamond drilling services to the mining industry throughout Mexico.

Brian Robertson, P. Eng. is the Qualified Person for information contained in this press release and is a qualified Person within the meaning of National Instrument 43-101.

About Source Exploration

Source Exploration Corp. (TSX VENTURE:SOP) is a well funded Canadian based mineral exploration company focused on the evaluation, acquisition and development of economic silver deposits in Mexico. At present, Source is carrying out an aggressive exploration program on the prolific past producing San Acacio silver mine in Zacatecas, Mexico, as well as evaluating other potential silver properties for acquisition in the Zacatecas area.

Certain terms or statements made that are not historical facts, such as anticipated advancement of mineral properties or programs, productions, sales of assets, exploration plans or results, costs, prices, performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to; metals price volatility, volatility of metals production, project development risks and ability to raise financing. Certain statements included in this news release constitute "forward-looking information" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

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

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