VANCOUVER, BC – December 9, 2014 – Goldsource Mines Inc. (“Goldsource” or the “Company”) announces

that it has arranged a non-brokered private placement for up to $7.5 million (minimum of $6.0 million)

comprised of up to 50,000,000 units at a price of $0.15 per unit. Each unit will consist of one common share

and one-half of one common share purchase warrant of Goldsource, with each whole warrant being

exercisable for one common share of Goldsource at a price of $0.25 per share for a term of 3 years.

Proceeds from the private placement will be used to fund all development and capital costs for Phase I mine

and processing plant construction for the Company’s Eagle Mountain Gold Project. Based on the Company’s

Preliminary Economic Assessment Technical Report (“PEA”) dated September 12, 2014 and filed September 16,

2014 on SEDAR at www.sedar.com, the Phase I development consists of a 1,000 tonnes per day open pit -

gravity plant for an 8 year mine life with estimated preproduction capital costs of US$5.9 million and cash

operating costs of $480 per ounce of gold. Further details are also provided in the Company’s news release

dated July 31, 2014.

“This financing will provide Goldsource with sufficient funds to complete the Phase I mine development and

place the Eagle Mountain Gold Project into production. Sustaining capital and future expansions are intended

to be paid for through operating cash flow. The project has additional development phases outlined in the PEA

to increase production once initial success in Phase I is achieved,” said Yannis Tsitos, President. “We are very

excited at the prospect of Goldsource becoming a low cost producing gold company in 2015.”

The Company cautions that the decision to proceed to production is based on a PEA and not on a feasibility

study of mineral reserves demonstrating economic and technical viability and accordingly, there are increased

uncertainties and added economic and technical risks associated with this production decision. The PEA is

preliminary in nature in that it is based largely on inferred mineral resources which are considered too

speculative geologically to have the economic considerations applied to them that would enable them to be

characterized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that

are not mineral reserves do not have demonstrated economic viability.

The Company will have the right to accelerate the expiry date of the warrants if the volume weighted average

price of the common shares of the Company on the TSX Venture Exchange is greater than $0.75 per share for

any 20 consecutive trading days after the first 18 months of the term. In such case, upon notice by the

Company, any warrants which remain unexercised will expire 30 days after such notice. A commission or finder’s fee of 6% may be paid in cash or shares at the placement issue price on certain portions of the private

placement. The private placement is subject to regulatory approval and resale of the shares will be subject to a

hold period of four months and one day following the closing date of the private placement.

NO U.S. REGISTRATION

The securities referred to in this press release have not been, and will not be, registered under the United

States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any

state of the United States, and may not be offered or sold within the United States or to, or for the account or

benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the

United States unless registered under the U.S. Securities Act and any applicable securities laws of the United

States or an exemption from such registration requirements is available. This press release does not constitute

an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the

United States.

The Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects for

this News Release is N. Eric Fier, CPG, P.Eng, Chief Operating Officer for Goldsource Mines Inc., who has

reviewed and approved its contents.

ABOUT GOLDSOURCE MINES INC.

Goldsource Mines Inc. (www.goldsourcemines.com) is a Canadian resource company that is aggressively

progressing its advanced-stage, 100%-owned Eagle Mountain Gold Project in Guyana towards initial staged

production in 2015. Goldsource is led by an experienced management team, proven in making exploration

discoveries, achieving construction on time and budget, and fast-tracking production.