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SOP

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Share Name Share Symbol Market Type
TSXV:SOP TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Source Signs Drill Contract and Announces Phase 2 Drilling Program at Las Minas

29/05/2014 1:00pm

Marketwired Canada


SOURCE EXPLORATION CORP. (the "Company" or "Source") (TSX VENTURE:SOP) is
pleased to announce the signing of a diamond drilling contract for commencement
of its 2014 Phase 2 exploration program at the Las Minas property, Veracruz,
State, Mexico. Source has contracted with K.D.L. Mexico S.A de C.V. for a
minimum of 2,000 metres of drilling, scheduled to get underway in the first week
of June, 2014.


The main focus of the program will be on expanding the higher-grade skarn
mineralization outlined by earlier drilling at the Santa Cruz in preparation for
an initial resource calculation as well as drill testing high priority targets
at the Juan Bran and Cinco Senores sites. 


"We are very excited about the results from our Phase 1 winter program," stated
David Baker, Executive Chairman. "The step-out drilling at Santa Cruz
intersected wide mineralized zones extending from surface and containing
high-grade intersections peaking at 10.06 g/t Au Eq(1) over 16.0 metres.
Additionally, drilling at El Dorado further delineated the down dip projection
of the mineralized zone. Both zones remain wide open for expansion. We look
forward to expanding the high-grade Santa Cruz zone and testing additional high
potential targets that have been identified on the property." 


Table 1 provides a summary of highlight results from the Phase 1 drilling
program (see press releases dated April 7 and May 26, 2014). 


Table 1 Selected Las Minas Phase 1 Drill Results



----------------------------------------------------------------------------
                    From      To   Interval    Gold  Silver  Copper    Au Eq
Hole No.             (M)     (M)        (M)     g/t     g/t       %      g/t
----------------------------------------------------------------------------
LM-14-SC-01          0.0   114.8      114.8    0.77    3.25    0.46     1.60
----------------------------------------------------------------------------
Including           38.0    52.0       14.0    1.37    4.16    1.25     3.57
----------------------------------------------------------------------------
Within               0.0    52.0       52.0    0.69    3.31    0.52     1.64
----------------------------------------------------------------------------
Including           89.0   108.8       19.8    1.96    8.98    1.05     3.89
----------------------------------------------------------------------------
Within              71.7   112.8       41.1    1.19    4.65    0.59     2.27
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-SC-02          0.0    32.0       32.0    1.08    6.53    0.57     2.14
----------------------------------------------------------------------------
Including            2.0    14.0       12.0    1.31    7.07    0.54     2.41
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                                                            
                    From      To   Interval    Gold  Silver  Copper    Au Eq
Hole No.             (M)     (M)        (M)     g/t     g/t       %      g/t
----------------------------------------------------------------------------
LM-14-SC-03          0.0    97.2       97.2    1.19    9.42    0.79     2.70
----------------------------------------------------------------------------
Including           75.2    91.2       16.0    4.39   37.82    2.96    10.06
----------------------------------------------------------------------------
Within              52.7    97.2       44.5    2.30   19.07    1.57     5.30
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-SC-04          0.0    13.7       13.7    0.39    4.30    0.96     2.10
----------------------------------------------------------------------------
Including            7.7     9.7        2.0    1.00   22.50    6.05    11.69
----------------------------------------------------------------------------
Within               0.0    82.0       82.0    0.23    2.40    0.31     0.80
----------------------------------------------------------------------------
And within           0.0    51.6       51.6    0.24    3.00    0.39     0.95
----------------------------------------------------------------------------
And                159.0   186.5       27.5    1.49    1.77    0.25     1.94
----------------------------------------------------------------------------
Within             159.0   204.0       45.0    1.03    1.52    0.22     1.44
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-SC-05         13.0    19.0        6.0    1.90    5.20    0.42     2.70
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-SC-06         51.0    59.0        8.0    0.47    4.20    0.25     0.96
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-ED-08         54.6    82.9       28.3    0.46    2.66    0.66     1.64
----------------------------------------------------------------------------
Including           54.6    64.7       10.1    0.68    4.40    1.13     2.68
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-ED-09         18.9    48.2       29.3    0.29    1.54    0.26     0.76
----------------------------------------------------------------------------
Including           18.9    26.4        7.5    0.99    4.62    0.97     2.72
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-ED-10         24.3    34.6       10.3    0.32    2.81    0.19     0.69
----------------------------------------------------------------------------
Including           29.2    32.6        3.4    0.59    4.56    0.30     1.18
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-ED-12         52.2    73.7       20.4    0.70    3.46    0.51     1.62
----------------------------------------------------------------------------
including           54.8    60.8        6.0    1.37    5.10    1.13     3.38
----------------------------------------------------------------------------
Within              52.2    76.4       11.1    1.14    5.07    0.89     2.74
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-ED-14         75.8    85.0        9.2    0.86    3.36    0.46     1.69
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-ED-15         49.7    80.9       31.2    0.58    2.54    0.06     0.73
----------------------------------------------------------------------------
Including           60.7    72.0       11.3    1.42    3.50    0.14     1.72
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-ED-16(i)      88.6    93.0        4.4    0.48    4.25    0.63     1.62
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-ED-17         84.7    90.3        5.6    0.41    4.68    0.45     1.26
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LM-14-ED-18         28.3    33.9        5.6    0.61    1.23    0.49     1.46
----------------------------------------------------------------------------



Additional information is required to determine true widths. A drill map showing
the location of the holes at Santa Cruz may be viewed on the Company's website
at www.sourceexploration.com - see Projects - Las Minas - Current maps. Drill
hole sections can be found at Projects - Las Minas - Drill Sections. 




(1)  Gold equivalent (Au Eq) calculations use metal prices of US $1200/oz.  
     for gold, US $19.00/oz. for silver and US $3.00/lb. for copper. No     
     adjustments have been made for potential relative differences in metal 
     recoveries.                                                            
                                                                            
     Au Eq g/t equals Au g/t + (Ag g/t x 0.016) + (Cu% x1.71).              



(i) Intersect an old adit

About Las Minas

The Las Minas Project hosts near-surface gold-silver and copper skarn
mineralization and high-grade gold-silver epithermal vein deposits. The project
is comprised of six mineral concessions covering approximately 1,616 hectares
(3,995 acres), with several small scale, past-producing mines and numerous
untested targets. 


The district is host to one of the largest under explored gold-silver and copper
skarn systems known in Mexico, and has a production history that extends back to
the Aztec era. The Las Minas granodiorite intrusive measures approximately 10
kilometres in diameter and underlies the Las Minas concessions. The
mineralization controls and association with magnetite appear to be similar to
the Guerrero Gold belt, which is the site of the Los Filos and Morelos gold
deposits. 


Las Minas is an early-stage exploration project and does not contain any mineral
resource estimates as defined by National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101"). The potential quantities and
grades disclosed herein are conceptual in nature and there has been insufficient
exploration to define a mineral resource for the targets discussed herein. It is
uncertain if further exploration will result in these targets being delineated
as a mineral resource. 


Quality Assurance/Quality Control

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 NI 43-101. Mr. Bernales
is responsible for logistics and supervision of all exploration activity
conducted by Source on the property. 


The Company has implemented and adheres to a strict Quality Assurance/Quality
Control program which includes inserting mineralized standards and blanks into
the sample stream, about 1 for every 10 samples. The standards and blanks were
obtained from CDN Resource Laboratories Ltd. of Langley, BC, Canada. Each sample
bag is properly sealed and kept in a secured, restricted storage place prior to
shipping to the lab. Samples are shipped directly by Source or picked-up by the
lab vehicle with chain of custody/sample submittal signed and dated. The Company
sends it samples to SGS Mineral Services (ISO/IEC 17025) at Durango, Mexico, an
accredited and independent laboratory. 


About Source Exploration

Source Exploration is a Canadian based mineral exploration company committed to
building long-term value through ongoing discoveries and strategic acquisitions
of prospective precious metals deposits in Mexico. Source is exploring the Las
Minas Project, which is located in the core of the Las Minas district in the
Veracruz State, Mexico. The district is host to one of the largest under
explored skarn systems known in Mexico and has a strong production history that
dates back to the Aztec era.


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 the magnitude or quality of
mineral deposits, anticipated advancement of mineral properties or programs,
future operations, results of exploration, prospects, commodity and precious
metals prices, future work programs, anticipated financial and operational
results, capital expenditures and objectives and the completion and timing of
mineral resource estimates. Forward-looking information is necessarily based
upon a number of estimates and assumptions that, while considered reasonable,
are subject to known and unknown risks, uncertainties, and other factors, which
may cause the actual results and future events to differ materially from those
expressed or implied by such forward-looking information, including the risks
identified in the Company's disclosure documents available at www.sedar.com.
There can be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such information. Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information contained in this
press release is given as of the date hereof and is based on the opinions and
estimates of management and information available to management as at the date
hereof. 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.


Shares Issued: 74,133,401

FOR FURTHER INFORMATION PLEASE CONTACT: 
Source Exploration Corp.
David Baker
Executive Chairman
604-817-4211 or 604-970-8052


Source Exploration Corp.
Brian Robertson
President & CEO
807-474-4270 or 807-251-1816
807-474-4272 (FAX)
info@sourceexploration.com
www.sourceexploration.com

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