Goldsource Mines Inc.

Goldsource Mines Inc.

June 20, 2008 09:00 ET

Goldsource Mines Prices $18 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 20, 2008) -


Goldsource Mines Inc. ("Goldsource" or the "Company") (TSX VENTURE:GXS) is pleased to announce that the Company and Genuity Capital Markets (the "Agent") have set the terms of the Company's private placement financing announced June 13, 2008 (the "Offering"). The Offering will consist of 1,532,000 common shares ("Shares") of the Company at an issue price of $11.75 per Share for gross proceeds of approximately $18 million, and is expected to close on June 27, 2008.

The Shares will be sold by way of private placement exemptions in Canada, 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 Agent will receive a cash commission equal to 6% of the gross proceeds raised under the Offering (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 Offering. Each Compensation Warrant will entitle the Agent to purchase one common share of the Company at an exercise price of $13.80 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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