TSX-V: SOP

2010 News Releases

December 17, 2010

Source Exploration Corp. Completes $4,000,000 Non-Brokered Private Placement

Source Exploration Corp. ("Source" or the "Company") (TSX-V: SOP) is pleased to announce the closing on December 16, 2010 of its previously announced non-brokered private placement of 8,000,000 units (the "Units") at a price of $0.52 per Unit for gross proceeds of $4,160,000 (the "Offering").

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December 3, 2010

Source Exploration Corp. Announces $4,160,000 Non-Brokered Private Placement

Source Exploration Corp. ("Source" or the "Company") (TSX-V: SOP) is pleased to announce that it has arranged a non-brokered private placement of up to 8,000,000 units of the Company (the "Units") at a price of $0.52 per Unit for gross proceeds of up to $4,160,000 (the "Offering"). Each Unit will consist of one common share of the Company and one half of one common share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one common share of the Company for a period of eighteen months from the closing date at a price of $0.70.

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December 1, 2010

Source Signs Final Agreements to Acquire Las Minas Project and Commences Exploration Program

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (TSX-V: SOP) (the "Company") is pleased to announce that its wholly owned Mexican Subsidiary, Roca Verde Exploration de Mexico, has signed options to acquire a 100 % interest in the Las Minas and La Miqueta Projects, collectively referred to as the Las Minas Project.

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November 8, 2010

Source Exploration Corp. Completes $1,600,000 Non – Brokered Private Placement

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (TSX-V: SOP) is pleased to announce the closing on November 5, 2010 of its previously announced non-brokered private placement of 8,000,000 units (the "Unitsˇ±) at a price of $0.20 per Unit for gross proceeds of $1,600,000 (the "Offering"). The Offering was originally announced on October 13, 2010 and, due to demand, was increased in size, as announced on October 14, 2010.

October 28, 2010

Source Exploration Corp. Announces Termination of San Acacio Option

SOURCE EXPLORATION CORP. (the "Corporation" or "Source Exploration") (TSX-V: SOP) announces that the Corporation will not be exercising its option to acquire the San Acacio property located at Zacatecas, Mexico, which was granted pursuant to an option agreement with Minera San Acacio, S.A. de C.V. and Amado Mesta Howard. The San Acacio property, which comprises ten mineral titles covering 746.6 ha, was recently drilled by the Corporation and a pre-scoping study was completed. The results of the work carried out on the property were not considered sufficiently significant to warrant continued expenditures and the option has been dropped.

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October 19, 2010
 
Source Exploration Corp. Announces Grant of Options
 
SOURCE EXPLORATION CORP. ("Source Exploration") (TSX-V: SOP) announces that a total of 995,000 stock options to purchase Source Exploration common shares are being granted to directors, officers and consultants at an exercise price of $0.28 per share, expiring on October 18, 2015. The grant is subject to regulatory approval.
 
 

October 14, 2010

Source Exploration Corp. Increases Financing

SOURCE EXPLORATION CORP. (the "Corporation" or "Source Exploration") (TSX-V: SOP) is pleased to announce that, due to high demand, the non-brokered private placement financing announced on October 13, 2010, has been increased by up to an additional 2,000,000 units of the Corporation (the "Units")

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Source Exploration Corp. Announces $1,200,00 Non-Brokered Private Placement

October 13, 2010

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (TSX-V: SOP) is pleased to announce that that it is proceeding with a non brokered private placement to raise up to $1,200,000 by issuance of up to 6,000,000 Units at a price of $0.20 per Unit. Each Unit will consist of one common share and a one-half a share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase a further common share for a period of eighteen (18) months from closing at a price of $0.35 per common share. Should the Corporation's share price exceed $0.45 for a continuous 20 day trading period in advance of the expiry date of the share purchase warrants, the Corporation may require early exercise of the share purchase warrants at its sole discretion. After the aforesaid 20 day period, the Corporation may issue a 10 day notice advising the subscribers to exercise their share purchase warrants within the 10 day period following the notice. At the company's option, this placement may be increased by 15%. This private placement is subject to regulatory approval.

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October 13, 2010

Source to Acquire Las Minas Gold-Copper Project in Mexico

Source Exploration Corp. (SOP; TSX-V) ("Source" or "the Company") today announced that its 100% owned Mexican subsidiary Roca Verde Exploracion de Mexico has entered into exclusive Letters of Intent to acquire the Las Minas and La Miqueta Projects, collectively named the Las Minas Project, comprised of five privately held mineral concessions covering approximately 1,271 hectares in the core of the Las Minas district in the State of Veracruz, Mexico. The district is host to one of the largest underexplored gold-copper skarn systems known in Mexico, with a strong production history that dates back to the Aztec era. The Project is located approximately 270 kilometres east of Mexico City and is accessible by road. The district is highly prospective for both bulk tonnage gold-silver-copper skarn deposits and high-grade gold-silver epithermal vein deposits.

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July 6, 2010

Source Underground Drilling at San Acacio Intersects High-Grade Hanging Wall Stringer Zone; Footwall Zone Grades 88.3 g/t silver, 0.12g/t gold, 0.72% Zinc across 7.80 metres

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (TSX-V: SOP) is pleased to announce that underground drilling at the San Acacio property, Zacatecas, Mexico, has intersected high- grade silver mineralization grading 1,094 g/t silver and 0.109 g/t gold with minor base metal values over a core length of 0.65 metres in the hanging wall of the Veta Grande vein system. The footwall zone of the vein graded 88.3 g/t silver, 0.12 g/t gold and 0.72% zinc across a 7.80 metres of core length, including a 1.30 metre interval grading 171.0 g/t silver, 0.20 g/t gold and 0.67 % zinc.

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June 22, 2010

Source Evaluating Production Options on San Acacio Silver Project, Zacatecas, Mexico

SOURCE EXPLORATION CORP. (SOP: TSX-V). ("Source" or "the Company") is pleased to announce that PEG Mining Consultants ("PEG") have completed a Strategic Production Study ("the study") of mining and processing options for open pit and underground mining at the San Acacio silver property located at Zacatecas, Mexico. The study will serve as a guideline for evaluating potential near term production scenarios and builds on the NI 43-101 resource estimate that was recently completed for the San Acacio property.

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June 16, 2010

Source Announces Appointment of Interim CFO and Relocation of Corporate Head Office

SOURCE EXPLORATION CORP. (SOP: TSX-V). ("Source" or "the Company") today announced the appointment of Steve Filipovic, CA as interim Chief Financial Officer effective immediately. Mr. Filipovic replaces Matthew Kavanagh who has resigned from the Company. The Company will also relocate its corporate head office from Vancouver, British Columbia to Thunder Bay, Ontario.

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May 21, 2010

Source Files NI 43-101 Technical Report on San Acacio Silver Property

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (SOP: TSX-V) is pleased to announce that further to the Company's news release dated April 13, 2010, the independent National Instrument ("NI") 43-101 compliant technical report for its San Acacio property located at Zacatecas, Mexico, has been filed on SEDAR. The mineral resource estimate was carried out by PEG Mining Consultants Inc. and complies with NI 43-101 ("NI 43-101 ") Standards of Disclosure for Mineral Properties. The technical report is available on the Company's website at http://www.sourceexploration.com

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May 19, 2010

Source Announces Completion of $551,250 Financing

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (SOP: TSX-V) is pleased to announce that it has completed its previously announced brokered private placement of $551,250 (the "Offering"). The Offering was completed through Jones, Gable & Company Limited as agent (the "Agent") in connection with the Offering. Pursuant to the Offering, Source issued and sold a total of 3,150,000 units (the "Units ") at a price of $0.175 per Unit, with each Unit being comprised of one common share of the Company and one half of one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant entitles the holder thereof to acquire one common share of Source at any time up to May 18, 2012 for an exercise price of $0.30.

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April 23, 2010

Source Announces $551,250 Financing

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (SOP: TSX-V) is pleased to announce that it is proceeding with a brokered private placement to raise up to $551,250 by issuance of up to 3,150,000 Units at a price of $0.175 per Unit. Each Unit will consist of one common share and a one-half a share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase a further common share for a period of twenty-four (24) months from closing at a price of $0.30 per common share. Jones, Gable & Company Limited ("Jones Gable") of Toronto, Ontario will act as agent for the private placement on a best efforts agency basis

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April 13, 2010

Source Announces NI 43-101 Indicated and Inferred Mineral Resource for San Acacio Silver Project, Mexico

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (SOP: TSX-V) is pleased to announce the that a National Instrument ("NI") indicated and inferred resource estimate has been completed for the San Acacio deposit by PEG Mining Consultants Inc. ("PEG"). Source's external consultants have advised that there is excellent potential to expand both the near surface resource amenable to open pit mining as well as the deeper resource more suitable for underground mining. An underground drilling program is currently underway to potentially extend to depth the high - grade mineralized shoots mined in historical stopes - see News Release April 8, 2010

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April 8, 2010

Source Commences Underground Drilling Targeting Extensions of Historical High Grade Ore Shoots

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (SOP: TSX-V) announces that drilling of the primary target at the Veta Grande vein system from underground is underway at the San Acacio project, located at Zacatecas, Mexico.

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March 16, 2010

Source Steps Out at San Acacio; Extends Veta Grande Vein to Depth; Veta Natividad Grades 155g/t Silver Over 3.0 m; Company Prepares for Underground Drilling

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (SOP: TSX-V) is pleased to announce drill results for step out drilling recently completed on the Veta Grande and Veta Natividad veins at its San Acacio property located at Zacatecas, Mexico. Step out hole SA-10-09, drilled to test the Veta Grande vein at depth, was located approximately 470 metres southeast on strike from the site of initial drilling (see Press Release January 10, 2010).

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March 4, 2010

Source Undertakes NI 43-101 Mineral Resource Estimate for San Acacio Property

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (SOP: TSX-V) is pleased to announce that PEG Mining Consultants Inc. has been awarded a contract to prepare a NI 43-101 compliant geology model and Mineral Resource Estimate for the San Acacio silver project located at Zacatecas, Mexico. Source is currently conducting a drill program at the property to explore for the downward extension of the Veta Grande vein below the historical mine workings and identify new vein structures in close proximity to historical workings. The new assay database from the drilling, along with the historical database from Silver Standard, will allow for a new NI -43-101 compliant mineral resource that will incorporate the silver, as well as the by-product credit of gold and base metals. The San Acacio property is being reviewed with the potential to develop an open pit and/or an underground resource.

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February 17, 2010

Source Awards Drilling Contract for Additional Drilling at San Acacio Project, Zacatecas, Mexico

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") announces that the company has awarded a diamond drilling contract with Techmin Services de Mexico, S.A. de C.V. for up to an additional 4,000 metres of HQ and NQ diameter core at its San Acacio silver project located at Zacatecas, Mexico.

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January 14, 2010

Source Grants Stock Options

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") announces that, subject to the TSX Venture Exchange approval, it has granted a total of 485,000 stock options to directors, officers and consultants.

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January 7, 2010

Source Discovers High Grade Silver Vein Grading up to 3,090 g/t silver, (91.9 oz/ton) and 0.57 g/t gold (0.016 oz/ton) at the San Acacio Property, Zacatecas, Mexico

High grade mineralization contained within a 1.3 metre vein averaging 769 g/t silver, 0.15 g/t gold, 0.01% copper, 0.23% lead and 0.75% zinc.

SOURCE EXPLORATION CORP. (the "Corporation" or "Source") (TSX-V: SOP) is pleased to announce that the first diamond drill hole (SADD-09-04A) from an ongoing drill program at its San Acacio project, Zacatecas, Mexico. This initial drill hole intersected a new very high grade silver vein with assays of 3,090 g/t silver, 0.57 g/t gold, 0.04% copper, 0.92% lead and 3.27% zinc over a core length of 0.3 metres in a highly oxidized breccia zone. The high grade mineralization is contained within a 1.3 metre mineralized interval that returned a weighted average grade of 769 g/t silver, 0.15 g/t gold, 0.01% copper, 0.23% lead and 0.75% zinc.

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