Goldsource Mines Inc.

Goldsource Mines Inc.

October 09, 2008 16:27 ET

Eric Friedland Joins Goldsource Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2008) - Goldsource Mines Inc. (the "Company") (TSX VENTURE:GXS) is pleased to announce the appointment of Mr. Eric Friedland as a director of the Company.

Mr. Friedland has over 25 years of experience in mineral exploration and development and mining as well as mining finance and is currently the Chairman and CEO of Peregrine Diamonds Ltd. (TSX:PGD). Previously Mr. Friedland was the President and Director of Fairbanks Gold Ltd. and played a primary role in the creation, development and financing of the Fort Knox gold discovery in Alaska and the subsequent sale of Fairbanks Gold to Amax Gold Corp. He was formerly CEO and Director of Carson Gold Corp., which explored and developed gold mining assets in Venezuela and subsequently became DiamondWorks Ltd., which under Mr. Friedland's direction developed two producing diamond mines in Angola and re-opened the Koidu Diamond Mine in Sierra Leone. Mr. Friedland was also a Director of Ivanhoe Mines Ltd. (TSX:IVN)(NYSE:IVN) from Ivanhoe's inception to its world-class copper-gold discovery in Mongolia called Oyu Tolgoi. Mr. Friedland has a B.Sc. degree in Geophysics with a minor in Geology from the Colorado School of Mines.

J. Scott Drever, President of the Company, commented: "The addition of Mr. Friedland to our Board complements the considerable international mining and financing experience of the current directors and adds a significant dimension to the Company's corporate profile. Mr. Friedland will play an important role in the direction of the Company as it moves into the next phases of its growth through the exploration and development of its new Saskatchewan coal discovery. My fellow directors welcome Mr. Friedland and look forward to working with him during what can only be described as exciting times in the development of Goldsource."

The Company also announces that it has granted a stock option to Mr. Friedland for the purchase of 100,000 common shares of the Company for a term of 5 years at an exercise price of $2.20 per share. The option is subject to regulatory approval and to such vesting period as determined by the Board. All shares issuable on exercise of the option are subject to a four-month hold period commencing from the date of the option grant.

On Behalf of the Board of Directors of Goldsource Mines Inc.

J. Scott Drever, President

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Contact Information