Source Gold Corp.
OTC Bulletin Board : SRGL

Source Gold Corp.

March 23, 2010 09:05 ET

Source Gold Begins 2010 Spring Gold and Copper Exploration Program

TORONTO, ONTARIO--(Marketwire - March 23, 2010) - Source Gold Corp. (OTCBB:SRGL) is pleased to announce it has begun its 2010 spring / summer exploration program on its KRK West property in the Beardmore Geraldton Greenstone Belt in Ontario.

An Airborne Geophysical survey of the property has been completed by Geotech Ltd. Source now plans to obtain a geophysical interpretation from an experienced independent geophysicist. This interpretation will further focus and define a grid framework for drilling efforts over Source's 15 square mile (~9600 sq acres) property.

Source's initial exploration program indicated high grade copper and gold mineralization areas. The three main areas of interest discovered in our initial exploration are the Little Brother, Peddle Lake and Musca Lake areas. Most of the trenching that has already occurred has been in these three areas. Although the focus to date has been in the eastern block of claims, we plan to extend the trenching and mapping program in the western claim zones.

The features from our initial exploration program suggest a presence of an environment with significant high grade gold and copper potential. Source plans to exploit these features, further defining and extending our mapping and trenching. The purpose of our program is to generate potential targets for an upcoming drill program.

Recent logging in the area has provided roads for easier accessibility to the eastern claim zone areas. Source intends to proceed with our exploration program with the highest regard to respecting the natural environment.

About Source Gold Corp.

Source Gold Corp. is a publicly traded junior mineral exploration company trading under the symbol SRGL.OB. The Company's corporate philosophy is to build shareholder value through the exploration and development of high quality mining and exploration projects in Canada, concentrating on gold in the prolific Beardmore-Geraldton Gold Camp in North Western Ontario.

Submitted on behalf of the board of directors
Lauren Notar, President/CEO
Source Gold Corp.

Legal Notice Regarding Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning gold or other mineral reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present if and when a project is actually developed.

Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of gold or mineral deposits, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of gold or minerals are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in filings on Edgar of other junior mineral exploration companies with the US Securities and Exchange Commission. This announcement may also contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

Contact Information