Goldsource Mines Inc.
TSX VENTURE : GXS

Goldsource Mines Inc.

June 27, 2008 13:11 ET

Goldsource Mines Completes $18 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 27, 2008) - Goldsource Mines Inc. ("Goldsource" or the "Company") (TSX VENTURE:GXS) is pleased to announce that the Company has completed its brokered private placement by issuing a total of 1,532,000 common shares (the "Shares") at a price of $11.75 per share for gross proceeds of $18,001,000 (the "Offering").

The Shares were sold through Genuity Capital Markets (the "Agent"). In connection with the closing, the Agent received a cash commission equal to 6% of the gross proceeds raised under the Offering (for subscribers originated by the Agent) and non-transferable compensation warrants (the "Compensation Warrants") entitling the Agent to purchase up to 91,920 common shares of the Company at an exercise price of $13.80 per share until June 27, 2009.

The net proceeds from the Offering will be used to fund exploration of the Company's coal properties, working capital and general corporate purposes.

The Shares and common shares issuable pursuant to the exercise of the Compensation Warrants are subject to a hold period which expires on October 28, 2008. The Offering is subject to final acceptance of the TSX Venture Exchange.

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.

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