Goldsource Mines Purchases 100 TPD Processing Plant for Eagle Mountain Gold Project, Guyana, South America - Video News Alert on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - March 6, 2015) - Goldsource Mines (TSXV: GXS) has purchased a 100 tonne per hour processing plant for its Eagle Mountain Gold Project, a near-surface saprolite oxide resource located in Guyana, South America, approximately 230 kilometres southwest of the capital, Georgetown.

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Langley, British Columbia-based Sepro Mineral Systems is nearing completion of the detailed engineering and final design of the processing plant which is being constructed in Vancouver.

Based on the Preliminary Economic Assessment Technical Report filed on Sedar.com in September, the Phase I development will consist of a 1,000 tonne per day open pit gravity plant with an 8 year mine life and estimated preproduction capital costs of US$5.9 million and expected cash operating costs of $480 per ounce of gold.

Yannis Tsitos, Goldsource's President stated: "The Phase I development at Eagle Mountain is fully financed, the mine area is fully permitted for operations and mine site preparation and processing plant construction has begun. The commencement of construction activities at Eagle Mountain is a huge milestone for the Company and we are very excited at the prospect of Goldsource becoming a low cost gold producer in 2015."

In December, Goldsource closed a private placement of 47.1 million units at $0.15 per unit, raising approximately $7.1 million, which is to be used to fund all development and capital costs for Phase I mine and processing plant construction. Sustaining capital and future expansions are intended to be paid for through operating cash flow.

N. Eric Fier, Chief Operating Officer added: "We are excited about getting boots on the ground for construction as we expect to execute this work on time and on budget. With success of Phase I, we will look at several opportunities to optimize the mine for the benefit of our shareholders."

The company is actively working on the project, including rehabilitating of the existing 10 kilometre road to the property, rehabilitating and upgrading the camp facilities, recruiting key operations personnel, and procuring longer-lead mining equipment.

Strong gold grades and mineralization starting from surface make the deposit suitable for lower-cost, open-pit production, with mineralogical and metallurgical testing showing strong recovery potential of up to 92%, which is in line with historical recoveries in the region.

With the current resource covering only a small portion of Eagle Mountain - 250 hectares inside the 5,050-hectare property - there is excellent potential for expansion, as the deposit remains open in three lateral directions and at depth, showing strong mineralization along its edges.

For more information please visit the company's website www.goldsourcemines.com, or contact Fred Cooper at 1-866-691-1760 or email info@goldsourcemines.com.

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