Goldsource Mines Announces Full Repayment of US$1.3 Million Loan

Vancouver, British Columbia--(Newsfile Corp. - February 15, 2017) - Goldsource Mines Inc. (TSXV: GXS) (FWB: G5M) ('Goldsource' or the 'Company') is pleased to announce that it has fully repaid all amounts owing under a U.S.$1.3 million loan from Mitan Holdings Ltd. (see December 14, 2016 news release) from the proceeds of its recently completed Cdn.$4.46 million private placement and general working capital. As a result, the Company now has no debt other than usual trade payables. The Company's pledge of the shares of its wholly-owned subsidiary, Eagle Mountain Gold Corp., as security for the loan has also been discharged.

ABOUT GOLDSOURCE MINES INC.

Goldsource Mines Inc. (www.goldsourcemines.com) is a Canadian resource company that is currently in the Proof of Concept Phase at it 100%-owned Eagle Mountain Gold Project, located in Guyana. Goldsource is led by an experienced management team, proven in making exploration discoveries and in project construction.

Ioannis (Yannis) Tsitos President & Director Goldsource Mines Inc.

For Further Information:

Goldsource Mines Inc. Contact: Ioannis (Yannis) Tsitos, President Fred Cooper, Investor Relations Telephone:+1 (604) 694-1760 Fax:+1 (604) 694-1761 Toll Free:1-866-691-1760 (Canada & USA) Email:info@goldsourcemines.com Website:www.goldsourcemines.com 570 Granville Street, Suite 501 Vancouver, British Columbia V6C 3P1

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News Source: Newsfile