Source Exploration Reports Additional Step-Out Drill Results from El Dorado/San Juan Zone at Las Minas

- May 26th, 2015

Source Exploration (TSXV:SOP,FWB:4QW) reported that additional step-out drilling results from the El Dorado / Juan Bran zone at its Las Minas property continue to expand the down-dip and strike extensions within the zone. Some highlights include the following results: 2.63 g/t Au Eq across 10.0 metres, within
1.83 g/t Au Eq over 17.0 metres; 4.74 g/t Au Eq across 19.7 metres, within 3.59 g/t Au Eq over 27.7 metres; and 3.57 g/t Au Eq across 20.0 metres.

Source Exploration (TSXV:SOP,FWB:4QW) reported that additional step-out drilling results from the El Dorado / Juan Bran zone at its Las Minas property continue to expand the down-dip and strike extensions within the zone. Some highlights include the following results: 2.63 g/t Au Eq across 10.0 metres, within
1.83 g/t Au Eq over 17.0 metres; 4.74 g/t Au Eq across 19.7 metres, within 3.59 g/t Au Eq over 27.7 metres; and 3.57 g/t Au Eq across 20.0 metres.

Highlights from El Dorado/ Juan Bran & Santa Cruz Drilling:

LM-15-ED-23
2.63 g/t Au Eq across 10.0 metres, within
1.83 g/t Au Eq over 17.0 metres

LM- 15-ED-24
4.74 g/t Au Eq across 19.7 metres, within
3.59 g/t Au Eq over 27.7 metres

LM-15-JB-09
2.24 g/t Au Eq across 6.0 metres

LM-15-SC-17
3.57 g/t Au Eq across 20.0 metres, and separately
2.46 g/t Au Eq across 30.0 metres, within
1.73 g/t Au Eq over 90.1 metres.

As quoted in the press release:

El Dorado/ Juan Bran Drilling

Drilling at the El Dorado/Juan Bran target has outlined a mineralized footprint measuring from 170 metres to 420 metres wide, with drill intercepts varying from 6.0 to 82.0 metres in thickness. The zone has been drill outlined 650 metres down-dip and remains open both to depth and on-strike.

Hole LM-15-ED-24 was drilled as a step-out hole located 80 metres south of previously reported hole LM-15-ED-21, which assayed 4.01 g/t Au Eq over 14.0 metres – see Press release dated May 7, 2015. The hole intersected 19.7 metres of mineralization assaying 4.74 g/t Au Eq. The high-grade interval was contained within 27.7 metres grading 3.59 g/t Au Eq.

Hole LM-15-ED-23 was located 120 metres further to the south of hole LM-15-ED-24. Gold, silver and copper mineralization grading 1.83 g/t Au EQ was intersected from 90.6 to 107.7, totaling 17.0 metres. The intercept contained a higher grade interval of 10.0 metres assaying 2.63 g/t Au Eq.

Hole LM-15-JB-09 was collared 140 metres to the west of hole LM-15-ED-24 to test the width of the southern extension of the zone. The hole cut 6.0 metres of exoskarn and retrograde endoskarn assaying 2.24 g/t Au Eq, contained within 8.0 metres grading 1.73 g/t Au Eq. The mineralized zone was cut off by a late feldspar porphyry dyke.

Santa Cruz Drilling Results

Diamond drill hole LM- 15-SC-17 was drilled as an infill hole to confirm the thickness and orientation of the high-grade Santa Cruz 1-3 zone. It intersected 90.1 metres of mineralization extending from near surface and assaying 1.73 g/t Au Eq. The wider intercept contained a high-grade 30.0 metre interval from 22.2 to 52.2 metres grading 2.46 g/t Au Eq as well as a 20 metre intercept from 74.2 to 94.2 metres assaying 3.57 g/t Au Eq.

A total of 16 diamond drill holes were drilled in the 2015 drill program to drill test the Eldorado/ Juan Bran ( 6 holes), Santa Cruz (7 holes) and Nopaltepec (3 holes) targets. Assay results are pending for an additional five holes and will be reported when received from the laboratory. Please refer to the Company’s press releases dated March 17, 2015, April 29, 2015 and May 7, 2015 for previously-reported results of the 2015 drill program.

All reported intervals referred to in this news release are core lengths and additional information is required to determine true widths. Assays are uncut, length – weighted average values.

(1) Gold equivalent (Au Eq) calculations use metal prices of US $1,200/oz. for gold, US $19.00/oz. for silver and US $3.00/lb. for copper. No adjustments have been made for potential relative differences in metal recoveries. Au Eq g/t equals Au g/t + (Ag g/t x 0.016) + (Cu% x1.71)
Samples containing free metallic gold mineralization were assayed by SGS Mineral Services at Durango, Mexico, an accredited and independent laboratory, using the FAS30K-Au metallic screen fire assay method.

Source Exploration CEO, Brian Robertson, said:

The recent drilling continues to expand the mineralized zones at the El Dorado/ Juan Bran and Santa Cruz targets. The widely spaced step-out holes were drilled with no misses, with the drilling widths and grades continuing to surprise to the upside. The width of the zones and the number of high-grade intercepts are indicative of a potentially large and well mineralized system.

Click here to read the Source Exploration (TSXV:SOP,FWB:4QW) press release
Click here to see the Source Exploration (TSXV:SOP,FWB:4QW) profile.

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