Goldsource Mines Updates Progress at Eagle Mountain Gold Project in Guyana, South America - Video News Alert on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - September 2, 2015) - Goldsource Mines (TSXV: GXS) (FWB: G5M) has issued an update on construction at its Eagle Mountain Gold Project in South America. Eagle Mountain is a near-surface saprolite oxide resource located in Guyana, South America, approximately 230 kilometres southwest of the capital, Georgetown.

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As planned, the company anticipates commissioning for Phase I production to take place by Q4, 2015.

Phase I development contemplates a 1,000 tonnes per day open pit gravity plant with estimated pre-production capital costs of US$4.0 to US$5.0 million, which is less than the previous US$5.9 million that was stated in the Preliminary Economic Assessment Technical Report filed on www.SEDAR.com in September 2014. Post-commissioning cash operating costs are estimated at US$500 to US$600 per ounce of gold.

The gold processing plant, which has a capacity of 100 tonnes per hour, was designed and constructed by Sepro Mineral Systems of Langley, British Columbia comprises two packages. The first package is in Guyana, awaiting final site preparation, which is 95% complete. The second package, which is 100% fabricated, is to be delivered during September 2015.

Yannis Tsitos, Goldsource's President stated: "We are pleased with Eagle Mountain's construction progress with the ongoing shipments to site of the processing plant and equipment and the testing of the secondary aggregate plant with possibly residual gold production. We fully expect to deliver the Phase I construction on-time and budget for Q4, 2015."

The company is actively working on the project, including rehabilitation of the existing 10 kilometre road to the property, which includes the construction of 8 new bridges, which are 85% completed. Completion of the road was delayed several weeks due to heavy seasonal rains, which has passed.

Procurement and purchase of major equipment including the most recent acquisition of a dozer and two new 500 KVA generators is 90% completed. The company has recruited 60% of key operations personnel, and site preparation of upgraded camp, plant, tailings area and initial mining area is at the 50% completion stage.

Goldsource is trading at $0.17 and with 126.5 million shares outstanding, the company is capitalized at $21.5 million.

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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