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Goldsource Mines Inc.



The Company has received Quarry Coal Permits from the Manitoba Energy & Mines totaling 44,664 hectares of land at our Pine River property located in the Province of Manitoba.


A two stage, 16 hole core drill program of approximately 3,000 metres of drilling is underway at Pine River. This program is focused on testing new coal targets defined by the Fugro EM airborne survey using the CIM. Multiple large geophysical anomalies exist within the 44,664 hectare land package. Stage one, estimated at 2,000 metres of drilling, will test the top priority targets and with success, stage two drill holes will be completed. Historical drilling, with reported coal intercepts ranging in thickness from 1.0 to 20 metres at depths of 14-90 metres, will be investigated along with previous coal mining near Pine River.  Six holes, totaling approximately 500 metres of drilling were completed in December, 2009 on targets which were accessible but not high priority according to the Coal Identification Matrix. Two holes intercepted minor coal and carbonaceous material.

Additional information on the Pine River property is forthcoming.