Goldsource Mines Inc.
TSX VENTURE : GXS
FRANKFURT : G5M

Goldsource Mines Inc.

April 25, 2011 08:00 ET

Goldsource Mines Announces Increase to Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 25, 2011) -

THIS NEWS RELEASE IS 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, in connection with its previously announced private placement financing (the "Brokered Private Placement") led by Canaccord Genuity Corp., it has increased the over-allotment option of the Brokered Private Placement from C$150,975 to C$700,975.

As a result of the increase in the over-allotment option, the total proceeds of the Brokered Private Placement together with the concurrent offering by way of a TSX Venture Exchange Short Form Offering Document have increased to $3,753,025.

The proceeds raised from the issuance of the securities shall be used to fund ongoing work programs on the Company's coal properties and for general working capital purposes.

Closing of the Offerings is anticipated to occur on or before May 12, 2011 and is subject to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.

Goldsource Mines Inc. is a Canadian resource company engaged in the exploration and development of Canada's newest coal field in the province of Saskatchewan. The Company has drilled only a portion of this new thermal coal field and has discovered 17 coal deposits of varying size with coal thicknesses up to 126 meters within the permit area of the Border Coal Project. Headquartered in Vancouver, BC, the Company is managed by experienced mining and business professionals.

J. Scott Drever, President

GOLDSOURCE MINES INC.

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

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