Goldsource Announces Stock Option Grant and Appointment of Kimberly Newsome as Vice President, Finance

Vancouver, British Columbia--(Newsfile Corp. - October 18, 2021) - Goldsource Mines Inc. (TSXV: GXS) (OTCQB: GXSFF) (FSE: G5MA) ("Goldsource" or the "Company"), a gold exploration company focused on the phased development of the 100%-owned Eagle Mountain Gold Project in Guyana, South America, is pleased to announce the appointment of Kimberly Newsome as Vice President, Finance for the Company effective October 15, 2021.

Based out of the Company's Vancouver office, Ms. Newsome will be responsible for managing the finance function for the Company in respect of strategic financial analysis and planning, treasury management, financial reporting, business processes and related controls. Ms. Newsome is a Chartered Professional Accountant and holds a Bachelor of Economics from the University of Victoria.

Steve Parsons, P.Eng., and CEO of Goldsource, commented, "I am very pleased to announce the promotion of Kimberly to the role of VP Finance. Kimberly has been a key member of the team for several years and her progression is a testament to her work ethic, expertise, and significant contributions to Company. As we transition Goldsource from an exploration company through development in the coming years, we look forward to working closely with Kim and the finance team to navigate this transition."

The Company also announces the grant of stock options under its Stock Option Plan to employees and consultants of the Company to purchase an aggregate of 47,500 common shares of the Company at a price of $0.94 per share for a five-year term expiring October 15, 2026. Stock options for 30,000 common shares will vest as to 25% annually commencing October 15, 2022. Stock options exercisable for 10,000 common shares will vest as to 25% on each of January 15, 2022, April 15, 2022, July 15, 2022, and October 15, 2022.

ABOUT GOLDSOURCE MINES INC.

Goldsource Mines Inc. (www.goldsourcemines.com) is a Canadian exploration company focused on the 100%-owned Eagle Mountain gold project in Guyana, South America. The Company is led by an experienced management team, proven in making precious metals exploration discoveries and executing on phased project development in the Americas.

Steve Parsons
CEO
Goldsource Mines Inc.

For Further Information:
Goldsource Mines Inc.Contact: Steve Parsons, CEO
Ioannis (Yannis) Tsitos, President
Telephone: +1 (604) 694-1760
Fax: +1 (604) 357-1313
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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