Goldsource Mines Inc.

TSX VENTURE : GXS
FRANKFURT : G5M


Goldsource Mines Inc.

December 17, 2013 12:46 ET

Goldsource Mines Announces Completion of Private Placement for $256,800

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 17, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Goldsource Mines Inc. ("Goldsource" or the "Company") (TSX VENTURE:GXS)(FRANKFURT:G5M) is pleased to announce that the proposed private placement announced in its news release on December 2, 2013 was oversubscribed. The Company completed on December 16, 2013 the private placement of 2,140,000 units at a price of $0.12 per unit for gross proceeds of $256,800. Each unit consisted of one common share of Goldsource and one-half of a warrant of Goldsource, with each whole warrant being exercisable for one common share of Goldsource at a price of $0.20 per share for a 24-month term until December 16, 2015.

Certain of Goldsource's insiders purchased a total of 945,000 units under the private placement.

The shares and warrants issued under the private placement and the shares issuable upon exercise of the warrants are all subject to a hold period that expires on April 17, 2014.

Net proceeds from the private placement will be used for general working capital purposes.

NO U.S. REGISTRATION

The securities referred to in this press release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.

J. Scott Drever, President

GOLDSOURCE MINES INC.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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