2008 News Releases
Source Exploration Corp. Consolidates its Interest in the San Acacio Silver Project, Zacatecas, Mexico
December 3, 2008
SOURCE EXPLORATION CORP. ("Source”) (TSX-V: SOP) is pleased to announce that it has closed a transaction with Sterling Mining Company ("Sterling”) and its Mexican subsidiary, Sterling Mining de Mexico S.A. de C.V. to purchase Sterling’s remaining interest in the San Acacio silver property in Zacatecas, Mexico and renounce the Earn-In Agreement between the parties.
The TSX Venture Exchange previously accepted for expedited filing documentation relating to an Assignment of Concession Agreement dated November 6, 2008 between Sterling and Sterling Mining de Mexico S.A. de C.V and Source Exploration Corp and Source’s Mexican subsidiary, Roca Verde Exploracion de Mexico S.A. de C.V., pursuant to which Source has acquired a full 100% interest in the Concession Agreement with Minera San Acacio S.A. de C.V., the vendor of the San Acacio Property.
In consideration, Source has paid US $200,000 and accelerated the release of 2,000,000 common shares from escrow, which were held voluntarily pursuant to the former Earn-In agreement with Sterling which is now superceded.
Bulletin: Agreement for San Acacio property
November 21, 2008
SOURCE EXPLORATIONCORP. (the "Corporation” or "Source”) (TSX-V: SOP) The TSX Venture Exchange has accepted for expedited filing documentation pertaining to an assignment of concession agreement dated Nov. 6, 2008, between Roca Verde Exploracion de Mexico SA de CV, Sterling Mining Company, Sterling Mining de Mexico SA de CV and Source Exploration Corp. pursuant to which the company will acquire the remaining 10-per-cent interest in the San Acacio property located in Zacatecas state, Mexico. In consideration, the company will pay $200,000 (U.S.) and accelerate the release of two million shares from escrow, which were held voluntarily pursuant to an earlier agreement.Clarifies Filing of Financial Statements
October 28, 2008
SOURCE EXPLORATIONCORP. (the "Corporation” or "Source”) (TSX-V: SOP) would like to advise its shareholders that it has filed its audited consolidated financial statements for the year ended June 30, 2008 via SEDAR.
Shareholders are advised that a preliminary version of the consolidated financial statements and Management Discussion and Analysis ("MD&A”) was inadvertently filed on the morning of October 23, 2008. Shareholders should refer to the subsequent filing of the final version of the consolidated financial statements and MD&A for the year ended June 30, 2008,that will be mailed to all registered shareholders.
Announces new appointments
August 5, 2008
SOURCE EXPLORATION CORP. (the "Company" or "Source") (TSX VENTURE: SOP) has appointed Abraham Drost, PGeo, director, as the corporation's new president and chief executive officer, and Ewan S. Downie to the corporation's board of directors effective Aug. 1, 2008. Robert S. Tyson, the corporation's former president and CEO, will remain with the corporation as a director. The board of directors offers its thanks and appreciation to Mr. Tyson for his efforts in helping to build Source.
Mr. Drost has been a director of Source since September, 2007. He is the former president of Sabina Silver Corp. where he also served as a director with Mr. Downie. Mr. Downie is currently president and CEO of Premier Gold Mines Ltd. In 2004, he was the recipient of the prestigious PDAC "Bill Dennis Prospector of the Year" award for leading the team that discovered the West zone deposit at High Lake in Nunavut. In 2004, Mr. Downie's company, Wolfden, was the recipient of the NWOPA "Discovery of the Year" for the discovery of the East Bay gold deposit, and again in 2005, for the discovery of the Bonanza gold deposit, in the burgeoning Red Lake gold camp. He also serves on the boards of several publicly traded companies.
Update on San Acacio Silver Property
June 2, 2008
SOURCE EXPLORATION CORP. (the "Company" or "Source") (TSX VENTURE:SOP) is pleased to announce the commencement of trading on the TSX-Venture Exchange under the symbol "SOP". The Board of Directors of Source includes Abraham Drost, P.Geo., former President of Sabina Silver Corporation, Robert S. Tyson, Wayne Moorhouse and Darrell Rader.
The Company has the right to earn up to a 90% interest in the San Acacio Silver Property in the Veta Grande area, State of Zacatecas, Republic of Mexico, from Sterling Mining Company of Idaho ("Sterling") and its Mexican subsidiary Sterling Mining de Mexico S.A. de C.V., subject to a series of cash payments, share allocations and work commitments.
Commencement of Trading
May 30, 2008
Vancouver, British Columbia - Mr. Robert Tyson, President of Source Exploration Corp.(TSXV – "SOP")(the "Corporation") announces the Corporation has raised $3,450,000, including the 15% over-allotment option that was exercised in full, pursuant to an initial public offering consisting of the issuance of 8,625,000 common shares by way of a Prospectus dated April 25, 2008. The offering closed on May 27, 2008. The common shares will be listed and posted for trading on the TSX Venture Exchange at market opening on Monday, June 2, 2008 under the symbol "SOP".Wolverton Securities Ltd. acted as agent for the Corporation's offering and received broker warrants to acquire an aggregate of 862,500 common shares, at an exercise price of $0.40 per share up to May 27, 2009.