THUNDER BAY, ONTARIO, Jan 04, 2012 (MARKETWIRE via COMTEX) — SOURCE EXPLORATION CORP. (the “Company” or “Source”) /quotes/zigman/510127 CA:SOP +6.98% announced today that Mr. Paul Huet has been appointed as a Director of the Company.

Paul is a graduate of the Stanford School of Business in California as well as the Haileybury School of Mines in Ontario and has over 24 years of progressive mining experience which has spanned employment in both the Canada and the United States. Paul was recently appointed as Chief Operating Officer for Premier Gold and was formerly Mine Manager and subsequently General Manager for Great Basin Gold Limited’s Nevada operations. He assembled and led a team that permitted, built and operated the high grade Hollister Gold Mine and Esmeralda Mill into a +100,000 ounce per year producing asset. Between 2000 and 2007, Paul worked at the Midas Mining Operations of Newmont Mining Corporation in Nevada in various senior capacities including Mine Superintendent and Mine Manager. Paul’s experience includes supervisory and mining positions with Dynatec Mining Corporation and Kinross Gold Corporation in Timmins and Red Lake.

Brian Robertson, Source’s President and CEO, said, “I am very pleased to welcome Paul to Source’s Board of Directors. His strong operating background plus industry contacts will assist the company with evaluating potential production opportunities at our existing properties as well as identifying properties for acquisition.”

In connection with his appointment to the Board, Mr. Huet has been granted 100,000 options to purchase common shares of the Company at an exercise price of $0.35 per share, expiring on January 3, 2017. The grant is subject to regulatory approval.

About Source Exploration

Source Exploration is a Canadian based mineral exploration company committed to building long term value through ongoing discoveries and strategic acquisitions of prospective gold and silver deposits in Mexico. The Las Minas Project is the Company’s current focus, and is comprised of five mineral concessions covering approximately 1,271 hectares in the core of the Las Minas district in the State of Veracruz, Mexico. The district is host to one of the largest under explored skarn systems known in Mexico and has a strong production history that dates back to the Aztec era.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about future operations, results of exploration, commodity and precious metals prices, future work programs, anticipated financial and operational results, capital expenditures and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company’s disclosure documents. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Shares Issued: 45,331,248

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source Exploration Corp.
Brian Robertson
President & CEO
807-474-4272 (FAX)
[email protected]