First Source Resources Inc.

First Source Resources Inc.

September 16, 2008 16:30 ET

First Source and DIAGNOS Extend Deadlines Under Services Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2008) -


First Source Resources Inc. ("First Source") (TSX VENTURE:FSR) and DIAGNOS inc. ("DIAGNOS") (TSX VENTURE:ADK) announced today an amendment to a services agreement (the "Original Agreement") executed July 14, 2008 between First Source and DIAGNOS, to explore an area covering approximately 37,000,000 acres or 150,000 square kilometres in central Canada. Under the Original Agreement, First Source is to provide certain funding and DIAGNOS will use its CARDS technology (Computer Aided Resource Detection System) to generate exploration targets in the area of interest. From September 2008 to May 2010, First Source is to contribute $3 million towards data accumulation, analysis, property acquisition and follow-up exploration field work.

The Original Agreement was subject to First Source raising a minimum of CDN $750,000 on or before September 15, 2008 or First Source, in its sole discretion, waiving this condition on or before such date. Under the amended agreement, First Source now has until November 15, 2008 to raise these funds and still maintains sole discretion to waive the condition. Further, all corresponding payments from First Source to DIAGNOS and delivery of the first target report and quarterly status reports by DIAGNOS to First Source stipulated under the Original Agreement have been delayed by the same two month period. All other elements of the Original Agreement remain unchanged.

About the Company

First Source Resources Inc. is a mineral exploration company headquartered in Vancouver, British Columbia. The Company's objective is to develop a balanced portfolio of properties through a combination of grassroots prospecting, property acquisition and the formation of strategic relationships. The Company currently holds a 100% interest in the Lac des Pics Property in the Province of Quebec.

For further information about the Company, please refer to the Company's filings on SEDAR ( or the Company's website at

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to the Company's mineral property, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to exploration results; the ability to raise sufficient capital to fund exploration; changes in economic conditions or financial markets; changes in prices for mineral products or increases in costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

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

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