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Source Gold Corp. (SRGL) Announces Commencement of Phase 1 Exploration Program

On Friday, Source Gold Corp. announced the initiation of the Phase 1 Exploration Program on the Company’s 23 wholly owned Vulture Peak mineral claims offsetting the historically famous Vulture Mine in Maricopa County, Wickenburg, Arizona.

At present, Source Gold Corp. is evaluating the potential of some other adjacent land acquisitions that may become available to the Company as indicated in recent discussions with owners. The properties have received a great deal of exploration in the past. This has provided Source Gold Corp. with a complete set of data for immediate evaluation.

The Company believes it is important to have this review so that they can determine whether the adjacent property acquisition will be necessary to ensure adequate coverage of their existing geological model.

Headquartered in Toronto, Ontario, Source Gold Corp. is a junior mineral exploration company. Their philosophy is to build shareholder value through the exploration and the development of high quality mining and exploration projects in Canada and the United States.

The Company is concentrating on gold in the prolific Beardmore-Geraldton Gold Camp in northwestern Ontario. Source Gold Corp. is using the advanced methods of exploration on the once prolific silver and gold producer, the Vulture Mine site, in Wickenburg, Arizona.

The Vulture Mine operated between 1863 and 1942. It is believed to have produced more than 380,000oz of gold and 280,000oz of silver with average values of .35oz Au/ton and .25Ag/ton. However, it is known that much of the real totals are not recorded and accounted for a variety of reasons.

Henry Wickenburg discovered the Vulture Mine in October 1863. Two men, named Von Bibber and “Verde” Green, accompanied him on a prospecting trip. After discovering a mine, the party returned to the present site of Wickenburg. A short time later, Von Bibber and Green left the country and never returned. In May 1864, Mr. Wickenburg started an active mining operation that yielded from $80 to $100 per ton.

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