Goldsource Mines Inc.
TSX VENTURE : GXS

Goldsource Mines Inc.

June 13, 2008 17:33 ET

Goldsource Mines Inc. Announces Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2008) - Goldsource Mines Inc. (TSX VENTURE:GXS) -

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

Goldsource Mines Inc. ("Goldsource" or the "Company") is pleased to announce that it has engaged Genuity Capital Markets (the "Agent") to complete a private placement financing (the "Offering"), on a marketed reasonable best efforts agency basis, to raise approximately $15,000,000 comprised of common shares (the "Shares) of the Company. The issue price of the Shares will be determined in accordance with current market conditions.

The Shares will be offered and sold by way of private placement exemptions in all provinces and jurisdictions of Canada, other than Quebec, as to be mutually agreed to by the Company and the Agent, into the United States via Rule 144A or in such other manner as not to require registration under the United States Securities Act of 1933, as amended, and into jurisdictions outside of Canada and the US.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.

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

The Agent will receive a cash commission equal to 6% of the gross proceeds raised in this private placement (for subscribers originated by the Agent) and compensation warrants (the "Compensation Warrants") entitling the Agent to purchase such number of common shares as is equal to 6.0% of the aggregate number of Shares sold pursuant to the private placement. Each Compensation Warrant will entitle the Agent to purchase one common share of the Company at an exercise price equal to the higher of the Market Price (as defined in TSXV policies) and the issue price of the Shares for a period of 12 months following the closing.

The securities being offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States in the absence of registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to purchase securities in the United States.

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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