NOT FOR DISSEMINATION IN THE UNITED STATES OR
THROUGH U.S. NEWSWIRE SERVICES
VANCOUVER, B.C. June 13, 2008 � Goldsource Mines Inc.
(�Goldsource� or the �Company�) is pleased to announce that it has engaged
Genuity Capital Markets (the �Agent�) to complete a private placement
financing (the �Offering�), on a marketed reasonable best efforts agency basis,
to raise approximately $15,000,000 comprised of common shares (the �Shares)
of the Company. The issue price of the Shares will be determined in
accordance with current market conditions.
The Shares will be offered and sold by way of private
placement exemptions in all provinces and jurisdictions of Canada, other than
Quebec, as to be mutually agreed to by the Company and the Agent, 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 net proceeds from the sale of the Offering will be
used to fund exploration of the Company�s coal properties in Saskatchewan,
working capital and general corporate purposes.
The Agent will receive a cash commission equal to 6% of
the gross proceeds raised in this private placement (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 private
placement. Each Compensation Warrant will entitle the Agent to purchase one
common share of the Company at an exercise price equal to the higher of the
Market Price (as defined in TSXV policies) and the issue price of the Shares
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
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For further information, please contact:
Fred Cooper
Telephone: (604) 691-1760
Fax:
(604) 691-1761
Email: info@goldsourcemines.com
Website: www.goldsourcemines.com/
405-1311 Howe Street
Vancouver, BC V6Z 2P3
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The TSX-Venture Exchange has not reviewed and does not
accept responsibility
for the accuracy or adequacy of this release.