Source Exploration Corp.

Source Exploration Corp.

October 22, 2009 09:30 ET

Source Exploration Drilling Targets High Grade Silver Zones at San Acacio Silver Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2009) - SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (TSX VENTURE:SOP) is pleased to announce that it has commenced a 2,500 metre (8,200 feet) diamond drilling program at its San Acacio silver project located in the world renowned Zacatecas silver region of central Mexico. The program will explore for the downward extension of high grade silver mineralization contained within breccia zones of the Veta Grande vein system. The Veta Grande vein system extends for a strike length of approximately seven kilometers on the San Acacio property and is historically one of the richest veins in the Zacatecas system.

The Veta Grande vein system was discovered in 1546. During the 16th century, the Spaniards mined the very high grade oxide ore, but were unable to mine the sulphide mineralization because they lacked the technology to extract silver from the sulphide mineralization at depth. It has been estimated that the ore mined at San Acacio graded on average approximately 1,000 g/tonne (29.17 oz/ ton) of silver, with associated gold, lead and copper mineralization. Mining was halted between 1910 and 1917 due to the outbreak of the Mexican Revolution. After the Revolution, small scale intermittent mining and the processing of backfill material from old workings continued until the mid 1990's. No new mine development below the historical mine workings was carried out during that time.

A geological technical report prepared by B.J. Price Geological Consultants Inc. and R. Von Boeck in compliance with NI-43-101 states "Since discovery of silver in the Zacatecas mining district in 1546, it was estimated that 180 million ounces of silver have been extracted from the Veta Grande vein complex." The report also references a historical drilled inferred mineral resource calculated by Silver Standard in 1995 and 1996.of 2,465,314 tonnes grading 182.4 g/tonne (5.40 oz/ton) containing 449,580.3 kilograms of silver or 14,445,000 ozs.of silver. The estimate is a historical estimate and should not be relied upon because it is not NI 43 -101 compliant. Source Exploration Corp has not independently verified the resource estimate.

Brian Robertson, President and CEO stated, "We are pleased that we have received the permits for the drilling program and excited about being able to explore for the downward extension of this very rich vein system. The Veta Grande vein system has historically been a prolific producer and we believe there is good potential to extend the rich mineralized zones to depth."
Mr. Brian Robertson has reviewed this news release and is the Qualified Person responsible for verification and quality assurance of the Corporation's exploration data and analytical results.

About Source Exploration

Source Exploration Corp. (TSX VENTURE:SOP) is a TSX Venture Company focusing on the acquisition and development of economic silver deposits in Mexico. At present, Source is concentrating on the exploration and development of the past producing San Acacio silver mine in Zacatecas, Mexico.


"Brian E. Robertson"

President & CEO

Certain terms or statements made that are not historical facts, such as anticipated advancement of mineral properties or programs, productions, sales of assets, exploration plans or results, costs, prices, performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to; metals price volatility, volatility of metals production, project development risks and ability to raise financing. Certain statements included in this news release constitute "forward-looking information" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

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