Goldsource Mines Inc.
TSX VENTURE : GXS
FRANKFURT : G5M

Goldsource Mines Inc.

March 20, 2014 08:00 ET

Goldsource Mines Nominated for 2014 "Deal of the Year" Award

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 20, 2014) - Goldsource Mines Inc. (TSX VENTURE:GXS)(FRANKFURT:G5M) ("Goldsource" or the "Company") has been nominated for a distinguished Platts 2014 Global Metals Award for "Deal of the Year" alongside fellow nominees ArcelorMittal / Nippon Steel & Sumitomo Metal Corporation and Reliance Steel & Aluminum Co. The Company is being recognized for its business combination with Eagle Mountain Gold Corp. ("Eagle Mountain"), which is now a wholly owned subsidiary of Goldsource.

Ioannis (Yannis) Tsitos, President of Goldsource, said, "We believe our selection as a finalist highlights the strength and merits of the new Goldsource Mines. Our strategic deal brings together a high-quality gold project with well-defined resources in mining-friendly Guyana and a leadership team that has a proven fast-track record of achieving production and rapidly building shareholder value."

Goldsource completed its business combination agreement with Eagle Mountain on February 28, 2014. The merger was approved by 99.8% of tendered Eagle Mountain shares at a special meeting of Eagle shareholders (inclusive of IAMGOLD Corporation, its largest shareholder). In addition, it received support from all local Guyanese stakeholders and authorities.

The Platts Global Metals Awards is a competitive awards program honoring excellence and accomplishments in the global metals industry. The awards program recognizes exemplary performance in a dozen categories and is hosted by Platts, a leading global provider of energy, petrochemical and metals information. Awards will be announced on May 21, 2014 at Plaisterers' Hall in London, UK.

ABOUT GOLDSOURCE MINES INC.

Goldsource Mines Inc. (www.goldsourcemines.com) is a Canadian resource company that is working aggressively to develop its advanced-stage, 100%-owned Eagle Mountain gold project in Guyana with initial staged production in 2014. The project has an existing NI 43-101-compliant resource of 188,000 Indicated and 792,000 Inferred gold ounces, with strong potential to expand its resources. Goldsource Mines is led by an experienced management team, proven in making exploration discoveries, achieving construction on time and budget, and fast-tracking production.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern Goldsource's anticipated consolidated results and developments in Goldsource's consolidated operations in future periods, planned exploration and development of the Eagle Mountain Gold Project, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on expectations of future performance, including silver and gold production and planned work programs. Statements derived from mineral resource estimates may also constitute forward--looking statements to the extent that they involve estimates of the mineralization that will be encountered if the Eagle Mountain property is developed.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the currency markets (particularly the Guyanese dollar, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond control of Goldsource, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Goldsource's ability to raise financing and fund the development of the Eagle Mountain Gold Project; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in a profitable mining operation at the Eagle Mountain Gold Project; risks related to mineral resource figures being estimates based on interpretations and assumptions; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to the Eagle Mountain Gold Project being located in Guyana, including political, economic, social and regulatory instability. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

The information provided in this news release is not intended to be a comprehensive review of all matters and developments concerning Goldsource and its business combination with Eagle Mountain. It should be read in conjunction with all other disclosure documents of the two companies. The information contained herein is not a substitute for detailed investigation or analysis.

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

Contact Information

  • Goldsource Mines Inc.
    Ioannis (Yannis) Tsitos
    President
    +1 (604) 694-1760 / Toll Free: 1-866-691-1760 (Canada & USA)
    +1 (604) 694-1761 (FAX)

    Goldsource Mines Inc.
    Fred Cooper
    Investor Relations
    +1 (604) 694-1760 / Toll Free: 1-866-691-1760 (Canada & USA)
    +1 (604) 694-1761 (FAX)
    info@goldsourcemines.com
    www.goldsourcemines.com