First Source Resources Inc.

First Source Resources Inc.

July 11, 2008 19:29 ET

First Source Exploration Update for Lac des Pics

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2008) -


First Source Resources Inc. (the "Company") (TSX VENTURE:FSR) is pleased to announce that, as of June 2008, it had commenced exploration for the summer 2008 exploration season at the Lac des Pics property in the Gaspe region of Quebec, and that exploration progress to date has proceeded on budget and on schedule.

In preparation for ground geophysical survey work to be conducted in August, grid lines are being cut and chained.

The Company expects to conduct airborne geophysical surveys over the entire property commencing July 25, and preparations for the survey have been made.

Ground follow up geophysical surveys will be conducted when information from the airborne survey is received and analyzed, likely in August.

Geochemical soil samples and rock samples will be collected from grid lines and areas of exposed mineralization in early August. Areas that are found to be anomalous by the air and ground geophysical surveys will be sampled in September.

Trenching to further define mineralized zones discovered in 2007 will commence in early August. Geophysical and geochemical anomalies developed by the new surveys will be trenched in September.

Over the coming summer and fall, it is expected that First Source will spend approximately $250,000 on exploration on the property.

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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