Source Exploration Corp. Announces Non Brokered Private Placement of Up to $1.2 Million

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Source Exploration Corp. ("Source" or the "Company") (TSX VENTURE:SOP) is
pleased to announce that it has arranged a non-brokered private placement (the
"Offering") of up to 10,000,000 units of the Company (the "Units") at a price of
$0.12 per Unit for gross proceeds of up to $1,200,000. Each Unit will consist of
one common share of the Company and one common share purchase warrant (a
"Warrant"). Each Warrant will entitle the holder to purchase one common share of
the Company for a period of 60 months from the closing date of the Offering at a
price of $0.20 per common share. 


With respect to the Company's Las Minas project, the diamond drill rig remains
on the property to follow up the excellent phase 1 delineation drilling results
on the Santa Cruz Zone, such as 97.2m of 2.7 g/t AuEq in DDH LM-14-SC-03 and
114.8m of 1.6 g/t Au Eq in LM-14-SC-01 (see press release April 7, 2014). Drill
sites and access paths have been prepared which will extend the drilled grid by
100m along strike and 50m down slope. In addition, several untested targets will
be drilled within clusters of historic mining, with coincident high grade chip
sampling and extensive magnetic anomalies.


In connection with the Offering, certain arm's length parties may receive (i) a
cash fee finder's payment equal to 6% of the gross proceeds of the Units that
are sold to subscribers introduced by such parties, and (ii) warrants (the
"Finder's Warrants") to purchase that number of common shares of the Company
equal to 6% of the Units that are sold to subscribers introduced by such
parties, with the Finder's Warrants having the same terms as the Warrants. The
finder's fee payment and the Finder's Warrants are subject to the approval of,
and will be issued in accordance with, the rules of the TSX Venture Exchange
("TSX-V"). 


The securities to be issued under this Offering will be offered by way of
private placement in the provinces of Ontario and British Columbia and such
other provinces of Canada and other jurisdictions outside of Canada as may be
determined by the Company, in each case, pursuant to applicable exemptions from
the prospectus requirements under applicable securities laws. Closing of the
Offering is anticipated to occur on or about May 9, 2014, and is subject to
receipt of all required regulatory approvals including the approval of the TSXV.
Securities issued under the Offering, including those issued to finders, will be
subject to a four month hold period which will expire four months and one day
from the date of closing of the Offering. 


The proceeds from the Offering will be used to continue exploration on the
Company's Las Minas project, Vera Cruz State, Mexico and for general working
capital purposes. 


The technical information in this news release has been reviewed and approved by
Sonny Bernales, P. Geo., a registered Professional Geoscientist in the Province
of British Columbia and a qualified person as defined by National Instrument
43-101. Mr. Bernales is responsible for logistics and supervision of all
exploration activity conducted by Source on the property.


For additional information please visit the Company's website at
www.sourceexploration.com.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. 


About Source Exploration

Source Exploration is a Canadian based mineral exploration company committed to
building long-term value through the discovery, acquisition and advancement of
mineral properties. The Company holds an option on the Las Minas gold - silver
and copper exploration project located within the Las Minas mining district in
the State of Veracruz, Mexico. The district hosts one of the largest under
explored gold - silver - copper skarn systems known in Mexico and has a strong
production history that dates back to the Aztec era. 


ON BEHALF OF THE BOARD OF DIRECTORS

David Baker, Executive Chairman

Cautionary Statement Regarding Forward-Looking Information: This news release
includes certain information that may constitute "forward-looking information"
under applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements about use of proceeds of the
Offering and the anticipated closing date of the Offering. Forward-looking
information is based on the opinions and estimates of management that, which
considered reasonable, are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ materially
from those projected in the forward- looking information. Such risks and
uncertainties include, but are not limited to, risks associated with the mining
industry, the risk of commodity price and foreign exchange rate fluctuations,
the ability of the Company to fund the capital and operating expenses necessary
to achieve the business objectives of the Company, as well as those risks
described in public disclosure documents filed by the Company. Due to the risks,
uncertainties and assumptions inherent in forward-looking information,
prospective investors in securities of the Company should not place undue
reliance on such forward-looking information. The Company disclaims any
intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as
required by law.


The Units have not been registered under the United States Securities Act of
1933, as amended (US Securities Act), and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements. This news release does not constitute an offer to sell or a
solicitation of an offer to buy such Units in any jurisdiction in which such an
offer or sale would be unlawful.


Shares Issued: 63,876,235

FOR FURTHER INFORMATION PLEASE CONTACT: 
Source Exploration Corp.
David Baker
Executive Chairman
604-817-4211 or 604-970-8052
604-692-0332 or 604-940-6992 (FAX)
[e-mail]
www.sourceexploration.com