Source Gold Corp.
OTC Bulletin Board : SRGL

Source Gold Corp.

November 19, 2009 09:03 ET

Source Gold Corp. Completes Targeted Preliminary Exploration Program

Visible Gold Encountered from Trenching

CALGARY, ALBERTA--(Marketwire - Nov. 19, 2009) - Source Gold Corp. (OTCBB:SRGL) is pleased to announce that we have completed our targeted initial and preliminary trenching program on our KRK West Property for the fall of 2009. We are currently processing 250 samples obtained through mechanical trenching which exposed several new mineralized areas as well as reopened mineralization where previous programs left off.

Various quartz veins and shear zones were encountered along with encouraging porphyritic contact zones, ideal to hosting multi quartz veining. Visible gold from grab samples have been reported by our technical team.

Three specific areas of interest were mechanically trenched on the KRK West Property: the Musca Lake zone, the Little Brother area and our most active area which is just east of Peddle Lake Musca Lake is the most westerly zone where a continuous shear zone was stripped in the vicinity of what has been historically known as the "Home Core Cure". The Musca Lake zone consists of a quartz flooded shear which pinches and swells along its strike length. The second area of interest is the Little Brother area, previously known as the "McAdam Showing". Three occurrences of visible gold were identified along its strike.

The third zone sampled is the area east of Peddle Lake. This area has had a number of drill collars belonging to previous gold companies who drilled for gold in the 1970's. The ground observations in the trenches coupled with the historical drill data, point to a large disrupted zone carrying high gold values.

Assays from this current trenching are expected within the next few weeks.

Source Gold Corp.'s KRK West Property has historically been associated with indications of gold, and our target is to find a structural trap producing sufficient tonnage for further development. Source is planning an aggressive exploration program for 2010 with an initial focus for a stripping and prospecting program for the spring/summer of 2010 and a point from which work may continue through the winter of 2009/2010, weather permitting.

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, 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.

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