Source Exploration Corp. Announces Non Brokered Private Placement of Up to $375,000

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 


Source Exploration Corp. ("Source" or the "Company") (TSX VENTURE:SOP) is
pleased to announce that it has arranged a non-brokered private placement (the
"Offering") of up to 5,000,000 units of the Company (the "Units") at a price of
$0.075 per Unit for gross proceeds of up to $375,000. Each Unit will consist of
one common share of the Company and one common share purchase Warrant.


Each

Warrant will entitle the holder to purchase one common share of the Company for
a period of twelve months from the closing date of the Offering at a price of
$0.125 per common share, provided that the Company will have the right to
accelerate the expiry date on notice to the Warrant holders if the closing price
of its common shares on a stock exchange in Canada is higher than $0.15 per
common share for a period of 20 consecutive trading days after four months from
the closing date of the Offering, in which case the Warrants will expire 30 days
after the date on which such notice is given. In connection with the Offering,
the Company may pay finders' fees to certain arm's length parties in accordance
with the rules of the TSX Venture Exchange (the "TSXV") in consideration for
their efforts in introducing subscribers to the Company. 


The securities to be issued under this Offering will be offered by way of
private placement in the provinces of Ontario and British Columbia and such
other provinces of Canada as may be determined by the Company, in each case,
pursuant to applicable exemptions from the prospectus requirements under
applicable securities laws. Closing of the Offering is anticipated to occur on
or before January 15, 2014 and is subject to receipt of all required regulatory
approvals including the approval of the TSXV. Securities issued under the
Offering will be subject to a four month hold period which will expire four
months one day from the date of closing of the Offering. 


The proceeds from the Offering will be used to continue exploration on the
Company's Las Minas project located in the State of Veracruz, Mexico, and for
general working capital purposes. 


 For additional information please visit the Company's website at
www.sourceexploration.com.


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. 


About Source Exploration

Source Exploration is a Canadian based mineral exploration company committed to
building long-term value through the discovery, acquisition and advancement of
mineral properties. The Company holds an option on the Las Minas gold - silver
and copper exploration project located within the Las Minas mining district in
the State of Veracruz, Mexico. The district hosts one of the largest under
explored gold - silver - copper 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 use of proceeds of the
Offering and the anticipated closing date of the Offering. Forward-looking
information is based on the opinions and estimates of management that, which
considered reasonable, are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ materially
from those projected in the forward- looking information. Such risks and
uncertainties include, but are not limited to, risks associated with the mining
industry, the risk of commodity price and foreign exchange rate fluctuations,
the ability of the Company to fund the capital and operating expenses necessary
to achieve the business objectives of the Company, as well as those risks
described in public disclosure documents filed by the Company. Due to the risks,
uncertainties and assumptions inherent in forward-looking information,
prospective investors in securities of the Company should not place undue
reliance on such forward-looking information. 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.


The Units have not been registered under the United States Securities Act of
1933, as amended (US Securities Act), and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements. This news release does not constitute an offer to sell or a
solicitation of an offer to buy such Units in any jurisdiction in which such an
offer or sale would be unlawful.


Shares Issued: 57,626,235

FOR FURTHER INFORMATION PLEASE CONTACT: 
Source Exploration Corp.
David Baker
Executive Chairman
604-817-4211 or 604-970-8050
807-474-4272 (FAX)
info@sourceexploration.com
www.sourceexploration.com
Source Exploration Corp. (TSXV:SOP)
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