Source Gold Corp.
OTC Bulletin Board : SRGL

Source Gold Corp.

June 17, 2011 18:47 ET

Source Initiates Phase 1 Exploration Program on Arizona Property

TORONTO, ONTARIO--(Marketwire - June 17, 2011) - Source Gold Corp. (OTCBB:SRGL) is pleased to announce the initiation of the Phase 1 Exploration Program on its 23 wholly owned Vulture Peak mineral claims offsetting the historically famous Vulture Mine in Maricopa County, Wickenburg, Arizona.

The Company is presently evaluating the potential of some other adjacent land acquisitions that may become available to the Company as indicated in recent discussions with owners. The properties have received a great deal of exploration in the past providing Source Gold with a complete set of data for immediate evaluation.

It is important to have this review in order to determine whether the adjacent property acquisition will be necessary to ensure adequate coverage of our existing geological model.

An aggressive Phase 1 Exploration Program continues as this evaluation is determined.

About Source Gold Corp.

Source Gold Corp. is a publicly traded junior mineral exploration company trading under the symbol (OTCBB:SRGL). The Company's philosophy is to build shareholder value through the exploration and the development of high quality mining and exploration projects in Canada and the USA. Source Gold is concentrating on gold in the prolific Beardmore-Geraldton Gold Camp in north western Ontario. Source Gold is using the advanced methods of exploration on the once prolific silver and gold producer, the Vulture Mine site, in Wickenburg, Arizona.

Submitted on behalf of the Board of Directors

Lauren Notar, President

Legal Notice Regarding Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning gold or other mineral reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present if and when a project is actually developed.

Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of gold or mineral deposits, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of gold or minerals are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in filings on Edgar of other junior mineral exploration companies with the US Securities and Exchange Commission. This announcement may also contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

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