Löschung

""""""""""""The Preliminary Economic Assessment (“PEA”) continues under the direction of Marston Consultants and EBA Engineering Consultants. Initial results from the PEA suggest:
• An on-site 500 MW clean coal-fired generator is the first choice for an end use of the coal. Design of the coal-fired electric generating plant can accommodate the coal quality of the deposits. Abundant biomass resources available in Saskatchewan to offset CO2 emissions for a reduced carbon footprint can supplement this fuel. Recent power studies suggest that a 500 MW generator would help fulfill Saskatchewan’s future power requirements.
• An on-site coal to liquids plant appears to be a second alternative for an end use of the coal. Goldsource has signed confidentiality agreements with providers of this technology which will be assessed as part of the PEA. Indications are that these technologies can be economically competitive with the current price of oil. Based on conversion ratios of 1.5 to 3.0 barrels of oil equivalents per tonne of coal, there are an estimated 200 to 400 million barrels of oil equivalent contained in the Border Coal deposits.
• A review of potential power generation partners is underway. In addition, the study will examine mining and capital costs, transportation and potential export markets.
Goldsource anticipates completion of the PEA in Q3, 2010."""""""""""""""


http://www.goldsourcemines.com/_resources/news/nr_2010_07_15.pdf

 

""The Preliminary Economic Assessment (“PEA”)

Um mal wieder etwas zu aktualisieren,hier mal die letzte NR.Leider auch schon vom 28.09.2010.

Goldsource Announces Grant of Options and Amended Stock Option Expiry Date
9/28/2010 2:42:37 PM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Sep 28, 2010 (MARKETWIRE via COMTEX News Network) --

Goldsource Mines Inc. (the "Company") (TSX VENTURE: GXS)(FRANKFURT: G5M) announces the grant of stock options to directors, officers, employees and consultants to purchase an aggregate of 700,000 common shares of the Company at an exercise price of $0.82 per share for a five year term expiring September 28, 2015. Options granted will vest as to 25% of the optioned shares on the date of grant and a further 25% will vest every six months thereafter until fully vested.

The Company also announces an amended expiry date of incentive stock options previously granted to certain directors, officers and consultants of the Company.

The expiry date for 775,000 outstanding stock options held by certain current directors, officers and consultants of the Company originally granted on December 23, 2005 at an exercise price of $0.90 per share has been extended from five years ending December 23, 2010 to ten years ending December 23, 2015.

The amended expiry date is subject to TSX Venture Exchange acceptance.

Goldsource Mines Inc. (TSX VENTURE: GXS)(FRANKFURT: G5M) is a resource company that is engaged in the exploration and development of Canada's newest coalfield in east-central Saskatchewan. The Company has aggressively drilled only a portion of this new thermal coalfield, and has discovered 17 coal deposits of varying size with coal zone thicknesses up to 126 meters within the permit area of the Border Coal Project. An experienced management team, who has accumulated a century's worth of international mining success, leads Goldsource and is based in Vancouver, BC.

J. Scott Drever, President

GOLDSOURCE MINES INC.

Neither the TSX-Venture Exchange nor its Regulation Services Provider accepts responsibility for the accuracy or adequacy of this release.

Contacts: Goldsource Mines Inc. Fred Cooper (604) 694-1760 ext. 108 / Toll Free: 1-866-691-1760 (Canada) (604) 694-1761 (FAX) info@goldsourcemines.com www.goldsourcemines.com

SOURCE: Goldsource Mines Inc.

mailto:info@goldsourcemines.com http://www.goldsourcemines.com
Copyright 2010 Marketwire, Inc., All rights reserved.

http://www.goldsourcemines.com/investors/news_releases/index…

News Releases


Goldsource Receives Positive Preliminary Assessment for the Border Coal Project
February 28, 2011

VANCOUVER, B.C. Feb 28, 2011 – Goldsource Mines Inc. (“Goldsource” or the “Company”) is pleased to report that its Preliminary Assessment (“PA”) NI 43-101 Technical Report for its Border Coal Project in Saskatchewan is complete and results are positive based on preliminary economics for a coal to liquids conversion process. This report was prepared by Marston Consultants of Calgary (“Marston”) and EBA Engineering Consultants of Vancouver (a Tetra Tech Company, “EBA”).

Marston, EBA and other independent qualified representatives conclude that, based upon this PA, development of the Border Coal project has the potential to be technically and economically feasible. The following recommendations are provided for consideration to advance the project to a Pre-Feasibility Study (PFS) level:

Consider coal liquefaction (CTL) processes which are based on standard petroleum refinery technologies and taking advantage of the current and expected low price for natural gas to provide the hydrogen to convert coal to liquids, in particular high value transportation fuels.

Complete bulk sampling of 5-10 tonnes to test CTL technologies, to develop or refine plant design, produce an updated product slate and product yield estimates and update the capital and operating cost estimates.

A rigorous marketing study is recommended to determine the impact of bringing these products, in the projected quantities, to the marketplace.

Due to the high capital cost associated with supplying natural gas to the site for CTL processing, a potential option would be to locate the processing facilities closer to the Province’s main natural gas transmission and other product pipelines in southern Saskatchewan. This may provide an economic benefit on the cost side as well as possibly providing easier access to the market for the finished products.

There are several potential technologies that could be used to monetize the Border resource, such as the Quantex Energy Inc. (Quantex) of Calgary, AB, CTL processing or the Synthesis Energy Systems (“SES”) gasification processing. It is recommended that Goldsource pursue these options in conjunction with further resource development. Capital and operating costs for the Quantex CTL process may be significantly lower than other processes, however, these processes requires further testing before being demonstrated as a proven commercial technology.

Electrical on-site power generation was initially considered, however, the Border coals contain moderate to high amounts of sodium which causes problems (fouling) with coal-fired generators. Reduction in sodium may be possible with further test work. On-site power generation is still considered an alternative for energy production. The PA recommends using of part of the bulk sample to carry testwork for sodium and sulphur reduction.

Carry out proposed additional work on Border Coal Project to:

collect a cumulative 5-10 tonne coal bulk sample from Pasquia 2, Chemong 3 and Niska 107 by way of large diameter drilling,

do coal to liquids laboratory test work and sodium and sulphur reduction testing,

drill to convert Speculative resources to Indicated for several of the Border deposits and,

drill several new exploration targets including the Pasquia 98 basin and Red Deer basin for potential increased resources. Significant potential exists for additional coal resources which can possibly increase mine life and decrease capital and operating costs.

Compile the results of this bulk sample program and previous work into a PFS to be targeted for completion in 2012 and continue collecting environmental baseline data during 2011.
Based on the current economics of the Border Coal Project, EBA, Marston and other Independent Qualified Representatives recommend completing the work as outlined above to help enhance the project. The estimated cost to complete the exploration and bulk sampling and testing program prior to a pre-feasibility study is US$3 million.

Goldsource erhält positives Preliminary Assessment für das Kohleprojekt Border

VANCOUVER (BRITISH COLUMBIA), 28. Februar 2011. Goldsource Mines Inc. („Goldsource“ oder das „Unternehmen“) freut sich bekannt zu geben, dass seine Preliminary Assessment („PA“) des technischen Berichts gemäß NI 43-101 für sein Kohleprojekt Border in Saskatchewan abgeschlossen ist und dass die Ergebnisse, basierend auf den vorläufigen Wirtschaftsdaten für einen Kohleverflüssigungsprozess, äußerst positiv sind. Dieser Bericht wurde von Marston Consultants aus Calgary („Marston“) und von EBA Engineering Consultants, einem Tetra Tech Company aus Vancouver, („EBA“) erstellt.

Marston, EBA und andere unabhängige qualifizierte Vertreter kommen zur Schlussfolgerung, dass die Erschließung des Kohleprojektes Border anhand dieser PA das Potenzial für eine technische und wirtschaftliche Machbarkeit aufweist. Folgende Empfehlungen wurden abgegeben, um das Projekt in Richtung einer vorläufigen Machbarkeitsstudie weiterzuentwickeln:

• Erwägung von Kohleverflüssigungsprozessen („CTL“), die auf herkömmlichen Erdölraffinierungstechnologien basieren und vom aktuellen und erwarteten niedrigen Erdgaspreis profitieren könnten, indem der Wasserstoff für die Kohleverflüssigung bereitgestellt wird – insbesondere hochwertiger Treibstoff für das Transportwesen.
• Vollständige Großprobentnahme von fünf bis zehn Tonnen zur Erprobung der CTL-Technologien, um den Anlagenplan zu erstellen oder weiterzuentwickeln, aktualisierte Produktprognosen und Produktertragsschätzungen zu erstellen und die Investitions- und Betriebskostenschätzungen zu aktualisieren.
• Es wird eine sorgfältige Marketing-Studie empfohlen, um die Auswirkungen der Platzierung dieser Produkte in den geplanten Mengen auf dem Markt zu ermitteln.
• Aufgrund der hohen Investitionskosten in Zusammenhang mit der Lieferung von Erdgas zum Standort der CTL-Verarbeitung wäre es eine mögliche Alternative, die Verarbeitungseinrichtungen näher an die Hauptgasleitung und andere Produkt-Pipelines im Süden von Saskatchewan heranzubringen. Dies könnte in puncto Kosten von Vorteil sein und möglicherweise auch einen einfacheren Zugang der Endprodukte zu den Märkten bieten.
• Es gibt mehrere Technologien, die verwendet werden könnten, um die Ressource Border zu monetisieren, wie etwa die CTL-Verarbeitung von Quantex Energy Inc. („Quantex“) aus Calgary (Alberta) oder der Vergasungsprozess von Synthesis Energy Systems („SES“). Es wird empfohlen, dass Goldsource diese Optionen in Zusammenhang mit der weiteren Ressourcenerschließung in Anspruch nimmt. Die Investitions- und Betriebskosten für das CTL-Verfahren von Quantex könnten deutlich niedriger sein als jene für andere Verfahren, auch wenn diese Prozesse weitere Tests erfordern, bevor sich der Beweis für ihre Eignung als kommerzielle Technologie erbringen lässt.
• Zunächst wurde eine Stromerzeugung vor Ort in Erwägung gezogen, doch die Border-Kohle enthält moderate bis hohe Mengen Natrium, was zu Problemen (Verunreinigung) bei den kohlebetriebenen Generatoren führt. Eine Verringerung des Natriumanteils könnte durch weitere Testarbeiten möglich sein. Eine Stromerzeugung direkt vor Ort wird nach wie vor als alternative Energieproduktion in Erwägung gezogen. Die PA empfiehlt, einen Teil der Großprobe zu verwenden, um Testarbeiten zur Verringerung des Natrium- und Schwefelanteils durchzuführen.
• Durchführung von zusätzlichen Arbeiten beim Kohleprojekt Border, um

a. eine Kohle-Großprobe von Pasquia 2, Chemong 3 und Niska 107 von insgesamt fünf bis zehn Tonnen mittels Durchmesserbohrungen zu entnehmen;
b. Kohleverflüssigungstestarbeiten sowie Tests zur Verringerung des Natrium- und Schwefelanteils durchzuführen;
c. Bohrungen durchzuführen, um spekulative Ressourcen von einigen Border-Lagerstätten in die angezeigte Kategorie hochzustufen;
d. mehrere neue Explorationsziele zu bebohren, einschließlich des Pasquia 98 Basins und des Red Deer Basins, um die Ressourcen möglicherweise zu steigern. Es besteht beträchtliches Potenzial für zusätzliche Kohleressourcen, die die Lebensdauer der Mine verlängern und die Investitions- und Betriebskosten verringern könnten.

• Zusammenstellung der Ergebnisse dieses Großprobentnahmeprogramms und früherer Arbeiten in einer vorläufigen Machbarkeitsstudie, deren Abschluss für 2012 vorgesehen ist, und Fortsetzung der Erfassung umweltbezogener Eckdaten im Jahr 2011.

Basierend auf den aktuellen Wirtschaftsdaten des Kohleprojektes Border empfehlen EBA, Marston und andere unabhängige qualifizierte Vertreter die Durchführung der oben beschriebenen Arbeiten, um das Projekt weiterzuentwickeln. Die geschätzten Kosten für den Abschluss der Explorationen und der Großprobentnahmen als Vorbereitung für eine vorläufige Machbarkeitsstudie belaufen sich auf 3 Millionen $.

President J. Scott Drever sagte: „Wir glauben, dass diese vorläufige Bewertung seinen Zweck erfüllt hat, da sie die Herausforderungen bei der Erschließung und Monetisierung dieses wertvollen Aktivums und zukünftiger Energiequelle verdeutlichte. Große Kapitalprojekte wie dieses erfordern oftmals eine Kombination aus günstigem Investment-Klima, Zeitplan, Rohstoffpreisen und technologischen Änderungen, um interne Zinsflüsse sicherzustellen, die dem Kapitalrisiko gerecht werden. Die Erschließung der Ölsande in Alberta ist ein gutes Beispiel dafür. Die Tatsache, dass unsere vorläufige Bewertung in diesem Stadium unter Anwendung eines bestehenden kommerziellen Prozesses mit hohen Investitions- und Betriebskosten einen positiven Zinsfluss ergab, weist eindeutig darauf hin, dass Verbesserungen bei den Investitions- und Betriebskosten durchaus möglich sein könnten – vor allem dank aufstrebender Technologien. Wir gehen davon aus, die Empfehlungen des Berichts umzusetzen – vor allem jene hinsichtlich der Testarbeiten für alternative Technologien. Gleichzeitig erkennen wir die Notwendigkeit, einen Beteiligten mit dem erforderlichen Know-how und der nötigen Finanzkraft zu haben, um das Projekt verwirklichen zu können.“

Nach einer detaillierten Prüfung der qualitativ hochwertigen Kohlekonzessionsgebiete und nach umfassenden Gesprächen mit unterschiedlichen Anbietern von Stromerzeugungs- und Kohleverflüssigungstechniken wiesen die Ergebnisse darauf hin, dass der zurzeit wahrscheinlichste wirtschaftliche Markt die Kohleverflüssigung ist. Basierend auf der Bewertung der verfügbaren Technologien und deren entsprechenden Ausgereiftheit sowie auf der Qualität von Border und des Standortes der Kohleressource, empfahl Marston, als Grundlage für die PA eine Kohleverflüssigungstechnologie zur Herstellung von Treibstoff für das Transportwesen (Diesel, Rohbenzin und Flüssiggas/Propangas) zu verwenden. Diese Technologie war die erste Wahl, da es sich um eine erprobte Technologie handelt, die auf historischen CTL-Anlagen und auf der Erdölraffinierung basiert und in der Lage ist, hochgradige Alkali-Kohle-Speisungen mit geringen Ascheschmelzpunkten und großem Verschlackungs-/Verunreinigungspotenzial zu verarbeiten. Dieses Verfahren ist in der Lage, marktfähigen Treibstoff für das Transportwesen, der mit der Bahn vom Anlagenstandort verschifft und modular geplant werden kann, um gegebenenfalls eine Erweiterung zu ermöglichen, direkt zu produzieren.

Wirtschaftliche Parameter des Kohleverflüssigungsprojektes

Marston stützte sich bei der Schätzung der Investitionskosten in Zusammenhang mit der Kohleverflüssigungsanlage auf CTL-Quellen. Die Gesamtkosten der Anlage wurden auf 1,94 Milliarden $ geschätzt und für einen Zeitraum von fünf Jahren veranschlagt, wobei der Beginn vom Fortschritt der vorläufigen Machbarkeitsstudie und der Machbarkeitsstudie abhängt. Während der gesamten Lebensdauer des Projektes wäre ein zusätzliches Kapital in Höhe von 90 Millionen $ erforderlich. Sämtliche Investitions- und Betriebskosten sind Gegenstand einer Preliminary Assessment und wurden anhand von Kursen, Erfahrungen und branchenüblichen Zahlen ermittelt. Die Kosten weisen eine Genauigkeit von +/- 30 % auf, was für Bewertungen dieser Art normal ist.

Gemäß den Annahmen dieser Preliminary Assessment wird das Projekt bei Produktionsraten von etwa 14.000 Barrel pro Tag etwa 6,45 Milliarden Gallonen an verkaufbarem Produkt produzieren. Bei angenommenen Marktpreisen von 2,25 $ pro Gallone Diesel und von 2,11 und 1,29 $ pro Gallone Rohbenzin bzw. Flüssiggas/Propangas beläuft sich der geschätzte Jahresumsatz auf durchschnittlich 425 Millionen $, die geschätzten Betriebskosten betragen etwa 266 Millionen pro Jahr. Basierend auf dem vorläufigen Erschließungsplan, auf der Technologie und auf den geschätzten Betriebskosten, weist das Projekt einen positiven internen Zinsfluss von etwa 6,3 % (vor Steuerabzug) und eine Amortisationszeit von 13 Jahren bei einer Lebensdauer des Projektes von mindestens 30 Jahren auf. Sensibilitätsanalysen zeigen, dass die Rendite wesentlich sensibler auf Änderungen des Umsatzes (Produktpreise) reagiert als die Investitions- oder Betriebskosten.

Basierend auf den geprüften Kohleressourcen (siehe unten) sieht das Projekt bei einer 30-jährigen Lebensdauer einen Kohleabbau mit einer Rate von 3,0 Millionen Rohtonnen pro Jahr vor (1,8 Millionen saubere Tonnen pro Jahr). Die geplanten Betriebe würden über 90 Millionen Tonnen (Mt) an Förderkohle produzieren; die Produktion von sauberer Kohle würde sich auf etwa 54 Mt belaufen.

Der potenzielle Betrieb würde den Kohleabbau von sieben unterschiedlichen Kohlelagerstätten umfassen, die sich in der Nähe einer Eisenbahn befinden und auch nicht weit voneinander entfernt sind. Es könnte eine CTL-Anlage vor Ort errichtet und betrieben werden oder die Kohle wird mit der Eisenbahn in den Süden von Saskatchewan zur Infrastruktur verschifft, die zurzeit errichtet wird.

Weitere wichtige Faktoren, die die Erschließung des Kohleprojektes begünstigen, sind Folgende:

• Border-Kohlelagerstätten weisen ein durchschnittliches Abraumverhältnis von 5,6:1 auf (Verhältnis Abfall zu Förderkohle); jenes der Kohle in Saskatchewan und Alberta beläuft sich auf 8:1.
• Der Feuchtigkeitsgehalt und die Brennwerte sind höher als jene der Schwelkohle im Süden Saskatchewans.
• Es gibt ausreichende Ressourcen, um eine Projektlaufzeit von mindestens 30 Jahren zu ermöglichen und ein Großteil der definierten Kohlelagerstätten ist weniger als zwei Kilometer von der Eisenbahn und/oder dem Highway entfernt.

Die Provinz Saskatchewan stellt momentan ein äußerst günstiges Investment-Umfeld dar, da die Erschließung dieser Art von Projekten von der Regierung unterstützt wird. Die Hudson-Bay-Community unterstützt das Projekt und die Landnutzung ist für die Ressourcenerschließung geeignet. Die insgesamten Auswirkungen können verringert werden.

Ressourcenschätzungen

Die revidierten Ressourcenschätzungen weisen eine Umwandlung von etwa 20 % der abgeleiteten Ressourcen in die angezeigte Kategorie auf und auch die spekulative Kategorie wurde beträchtlich erweitert. Die Rückgänge in der abgeleiteten Kategorie sind vor allem auf die strengere Definierung der Grenzen der Lagerstätten infolge detaillierter gravimetrischer Flugvermessungen zurückzuführen. Die neu hinzugefügte Lagerstätte Niska 105 hat maßgeblichen Anteil an der Steigerung der spekulativen Kategorie. Es gibt eine Reihe von vorrangigen Zielen, die noch erprobt werden müssen und die gesamte Ressourcenbasis auf dem Gebiet steigern könnten.

Unter folgendem Link finden Sie die Tabellen dazu: http://www.irw-press.com/dokumente/Goldsource-Tabelle.pdf

Diese Bewertung ist jedoch nur vorläufig und die wirtschaftliche Analyse beinhaltet abgeleitete Ressourcen, die geologisch als zu spekulativ angesehen werden, um wirtschaftliche Überlegungen anzustellen und als Mineralreserve eingestuft zu werden. Die in der Studie verwendeten Mineralressourcen stellen keine Reserven dar und weisen keine wirtschaftliche Bedeutung auf. Es gibt keine Gewissheit, dass die Ergebnisse dieser vorläufigen Bewertung erreicht werden. Dieser Bericht entspricht den Standards von NI 43-101. Der vollständige Bericht wird nach dem Erhalt der Genehmigung und der Zustimmung der „qualifizierten Person“ auf SEDAR veröffentlicht werden.

Lara Reggin, P.Geo., technische Geologin und Project Director von EBA Engineering Consultants Ltd., Mohammed Dadmanesh, P.Eng., Bergbautechniker und Project Manager von EBA Engineering Consultants Ltd., John Chow, AusIMM, Bergbautechniker von EBA Engineering Consultants Ltd. sowie James McQuaid, P.Eng., Bergbautechniker und Vice President von Marston Canada Ltd. sind die „qualifizierten Personen“ für diese Pressemitteilung, die deren Inhalt geprüft und genehmigt haben.

Goldsource Mines Inc. ist ein kanadisches Ressourcenunternehmen, das sich mit der Exploration und Erschließung des neuesten Kohlefeldes in der Provinz Saskatchewan beschäftigt. Das Unternehmen hat nur einen Teil dieses neuen thermalen Kohlefeldes bebohrt und dabei 17 Kohlelagerstätten unterschiedlicher Größe entdeckt. Die Mächtigkeit der Kohlezone beläuft sich innerhalb des Konzessionsgebiets des Kohleprojektes Border auf bis zu 126 Meter. Das Unternehmen, dessen Hauptsitz sich in Vancouver (British Columbia) befindet, ist äußerst kapitalkräftig und wird von erfahrenen Bergbau- und Business-Profis geleitet.

Diese Pressemitteilung enthält zukunftsgerichtete Aussagen, die sich auf zukünftige Ereignisse und Zustände beziehen und daher mit Risiken und Unsicherheiten behaftet sind. Die tatsächlichen Ergebnisse, die Programme und die Finanzlage des Unternehmens können wesentlich von jenen abweichen, die in diesen zukunftsgerichteten Aussagen vorausgesagt worden sind. Dafür kann es zahlreiche Gründe geben, von denen einige nicht im Einflussbereich des Unternehmens liegen. Zu diesen Gründen zählen u.a. die Verfügbarkeit von Finanzmitteln, Zeitpunkt und Inhalt von bevorstehenden Arbeitsprogrammen, Ergebnisse aus Explorations- und Erschließungsaktivitäten auf Rohstoffgrundstücken, Auswertung von Bohrergebnissen und anderen geologischen Daten, Unsicherheiten in bezug auf Ressourcen- und Reservenschätzungen, Erhalt und Fortbestand von Kohlelizenzen und Grundrechten, Projektkostenüberschreitungen und nicht vorhergesehene Ausgaben, Schwankungen bei den Waren- und Produktpreisen, Währungsschwankungen und die allgemeine Markt- und Branchensituation. Zukunftsgerichtete Aussagen basieren auf den Erwartungen und Meinungen des Managements zum Zeitpunkt der Äußerung dieser Aussagen. Annahmen, auf denen solche Informationen beruhen, könnten sich möglicherweise als ungenau herausstellen, selbst wenn diese zum Zeitpunkt der Erstellung für vernünftig gehalten werden. Zukunftsgerichtete Aussagen können daher nicht als verlässlich gelten.

“J. Scott Drever”
J. Scott Drever, President
GOLDSOURCE MINES INC.

Kontakt: Fred Cooper
Telefon: (604) 694-1760
Fax: (604) 694-1761
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

wieso es hier nur noch abwärts geht?!?

Goldsource Files Positive Preliminary Assessment Report for the Border Coal Project

VANCOUVER, BRIITSH COLUMBIA, Mar 17, 2011 (MARKETWIRE via COMTEX News Network) --

Goldsource Mines Inc. ("Goldsource" or the "Company") (TSX VENTURE: GXS)(FRANKFURT: G5M) is pleased to report that its Preliminary Assessment ("PA") NI 43-101 Technical Report for its Border Coal Project in Saskatchewan has been filed on SEDAR (www.sedar.com). As previously reported in a press release dated February 28, 2010, the results are positive based on preliminary economics for a coal to liquids (CTL) conversion process. This report was prepared by Marston Consultants of Calgary ("Marston") and EBA Engineering Consultants of Vancouver (a Tetra Tech Company, "EBA").

J. Scott Drever, President stated: "We are excited by the fact that our preliminary assessment showed a positive rate of return at this stage using an existing commercial process known to have high capital and operating costs. This is a clear indication that by making potential improvements in capital and operating costs, which may be possible through emerging technologies, we should be able to develop a system to monetize the value our coal asset and future energy source. Major capital projects such as this often require a combination of favorable investment climate, timing, commodity pricing and technology changes to demonstrate rates of return commensurate with the capital at risk. We believe that this combination of circumstances is achievable. We intend to pursue the recommendations of the report, in particular those relating to test work for alternative technologies. We recognize that the project requires a special expertise and financial capacity to bring it to fruition and will actively seek out a participant with these capabilities."

Coal to Liquids Project Economic Parameters

Marston relied on CTL sources for the capital cost estimates associated with the coal to liquids facility. The total installed cost of the facility has been estimated to be $1.94 billion and was allocated over five years with commencement depending on the rate of advancement of Pre-Feasibility and Feasibility studies. There would be an additional $90 million dollars of sustaining capital required over the life the project. All capital and operating costs are to a Preliminary Assessment level and were established using quotes, experience, and factored industry standard numbers. Costs are to a +/-30% accuracy as are typical for this level of evaluation. Under the assumptions of the economic model and using a 5% discount rate, the discounted Net Present Value of the project is estimated to be $256 million.

Under the assumptions of this Preliminary Assessment, the project will produce approximately 6.45 billion gallons of saleable products at production rates of approximately 14,000 barrels per day. With assumed market prices of $2.25 per gallon for diesel and $2.11 and $1.29 per gallon for naptha and LPG/propane respectively, the estimated annual product revenues average $425 million/year with estimated operating costs of approximately $266 million/year. Based on the pro-forma development plan, technology for upgrading, and estimated costs of operations, the project generates a positive pre-tax internal rate of return of approximately 6.3% and a payback period of 13 years with a minimum project life of 30 years. Sensitivity analyses show that the project rate of return is much more sensitive to changes in revenue (product prices) than either operating or capital costs.

Marston, EBA and other independent qualified representatives conclude that, based upon this PA, development of the Border Coal project has the potential to be technically and economically feasible. The following recommendations were made to advance the project toward a Pre-Feasibility Study (PFS) level:


--  Consider coal liquefaction (CTL) processes which are based on standard
   petroleum refinery technologies to convert coal to liquids, in
   particular to high value transportation fuels.
--  Complete bulk sampling of 5-10 tonnes to test CTL technologies, to
   develop or refine plant design, produce an updated product slate and
   product yield estimates and update the capital and operating cost
   estimates.
--  A rigorous marketing study is recommended to determine the impact of
   bringing these products, in the projected quantities, to the
   marketplace.
--  Consider locating the processing facilities closer to the Province's
   main natural gas transmission and other product pipelines in southern
   Saskatchewan. This may provide an economic benefit on the cost side as
   well as possibly providing easier access to the market for the finished
   products.
--  Consider several potential CTL technologies that could be used to
   monetize the Border resource, such as the Quantex Energy Inc. (Quantex)
   of Calgary, AB, CTL processing or the Synthesis Energy Systems ("SES")
   gasification processing which may have significantly lower capital and
   operating costs. These processes however, require further testing before
   being demonstrated as a proven commercial technology.

On-site power generation is still considered an alternative use for Border coal for energy production. However, the Border coals contain moderate to high amounts of sodium which causes problems (fouling) with coal-fired generators. Reduction in sodium may be possible with further test work. The PA recommends using of part of the bulk sample to carry testwork for sodium and sulphur reduction.

Based on the revised coal resources (see below), the project contemplates mining coal at a rate of 3.0 million raw tonnes per year (1.8 million clean tonnes per year) over a 30 year life. The proposed operations would produce just over 90 million tonnes (Mt) of run-of-mine (ROM) coal with clean coal production of about 54 Mt.

Resource Estimates

The revised resource estimates show a conversion of approximately 20% of the Inferred resources to the Indicated category with substantial additions to the speculative category. Decreases in the inferred category were due mainly to stricter definition of deposit boundaries provided by detailed airborne gravity surveys. The addition of the Niska 105 deposit accounted for much of the increase to the speculative category. There are a number of priority targets yet to be tested that could add to the overall resource base of the area.


--------------------------------------------------
REVISED COAL RESOURCES AT THE BORDER PROJECT
--------------------------------------------------
Category             2009 (000's Tonnes)     2011 (000's Tonnes)
--------------------------------------------------
Indicated                        63,500                  79,161
--------------------------------------------------
Inferred                         89,600                  33,003
--------------------------------------------------
Speculative                      18,700                  61,183
--------------------------------------------------

The Company expects to carry out the following recommended work on Border Coal Project:

a. collect a cumulative 5-10 tonne coal bulk sample from Pasquia 2, Chemong 3 and Niska 107 by way of large diameter drilling,

b. do coal to liquids laboratory test work and sodium and sulphur reduction testing,

c. drill to convert Speculative resources to Indicated for several of the Border deposits and,

d. drill several new exploration targets including the Pasquia 98 basin and Red Deer basin for potential increased resources. Significant potential exists for additional coal resources which can possibly increase mine life and decrease capital and operating costs.

e. compile the results of this bulk sample program and previous work into a PFS to be targeted for completion in 2012 and continue collecting environmental baseline data during 2011.

The estimated cost to complete the exploration and bulk sampling and testing program prior to a pre-feasibility study is US$3 million.

The assessment is preliminary in nature and the economic analysis includes inferred resources that are considered too speculative geologically to have economic considerations applied to them in order to be categorized as mineral reserves. The mineral resources utilized in the study are not reserves and do not have economic implications. There is no certainty that the results of this preliminary assessment will be realized. This report complies with NI 43-101 standards. .....................

Contacts: Goldsource Mines Inc. Fred Cooper (604) 694-1760 or Toll Free: 1-866-691-1760 (Canada & USA) (604) 694-1761 (FAX) info@goldsourcemines.com www.goldsourcemines.com

SOURCE: Goldsource Mines Inc.

mailto:info@goldsourcemines.com http://www.goldsourcemines.com
Copyright 2011 Marketwire, Inc., All rights reserved.
http://www.stockhouse.com/pfolio.aspx?user=sh

Mar 31, 2011 15:43 ET
Goldsource Announces Joint Venture Agreement on 25% of Westcore Energy Ltd.'s Manitoba and Saskatchewan Coal Permits

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2011) - Goldsource Mines Inc. ("Goldsource") (TSX VENTURE:GXS)(FRANKFURT:G5M) is pleased to announce that it has executed a definitive Joint Venture Agreement with Westcore Energy Ltd. ("Westcore") pursuant to a letter agreement dated December 10, 2009 by which Goldsource provided Westcore with specific drill sites on its Saskatchewan and Manitoba coal lands. Drilling of theses prime coal targets was successful in intersecting substantial thicknesses of coal and accordingly Goldsource received 1,100,000 shares of Westcore and earned a 25% working interest in certain of Westcore's Manitoba and Saskatchewan coal permits. Under the terms of JV Agreement, Goldsource has the option to participate as to its 25% in any subsequent coal lands acquired by Westcore. Westcore is also required to spend $3.0 million on exploration of the permits prior to Goldsource contributing its 25% share.

Westcore announced yesterday the preliminary results of its successful 2011 winter exploration program in which 23 drill holes of a total 39 hole program were drilled on the Black Diamond Property in which Goldsource holds a 25% interest. The program focused on 4 principal targets (Ambit, Cyclops, Athena and Calypso) and 2 satellite deposits (Ambit and Athena). Substantial thickness of coal ranging from 22.1 metres to 75.2 metres were encountered in 11 of the 23 holes in the six deposits drilled (for details please see Westcore's press release dated March 30, 2011, on its web site at www.westcoreenergy.ca or on SEDAR at www.sedar.com).

J. Scott Drever, President stated: "We are certainly pleased that Westcore has been able to conduct such a successful winter campaign. The initial results appear to be similar to the coal thicknesses we have encountered on many of the deposits in our adjacent Border Project where we have intercepts up to 126 meters in true thickness. From the perspective of Goldsource, these results have provided the opportunity to test our geophysical models in areas outside of our Border Property and obviously have greatly enhanced the value of our share position in Westcore as well as the value of our 25% working interest in the Westcore properties."

Goldsource recently released the results of a Preliminary Economic Assessment (see press release dated March 17, 2011) for the Company's Border established updated coal resources as follows;
REVISED COAL RESOURCES AT THE BORDER PROJECT
Category 2009 (000's Tonnes) 2011 (000's Tonnes)
Indicated 63,500 79,161
Inferred 89,600 33,003
Speculative 18,700 61,183

The report (filed on SEDAR at www.sedar.com) also established that under the assumptions of the economic model and using a 5% discount rate, a coal to liquids processing project was economically viable and had a Net Present Value of $256 million. The Company intends to pursue the recommendations of the report, in particular those relating to test work for alternative technologies. It also recognizes that a project of this scope and nature requires a special expertise and financial capacity to bring it to fruition and is actively seeking participants with these capabilities.

N. Eric Fier, CPG, P.Eng. and Qualified Person for this news release has reviewed and approved its contents.

Goldsource Mines Inc. is a Canadian resource company engaged in the exploration and development of Canada's newest coal field in the province of Saskatchewan. The Company has explored drilled only a portion of this new thermal coal field and has discovered 17 coal deposits of varying size with coal thicknesses up to 126 metres within the permit area of the Border Coal Project. Headquartered in Vancouver, BC, the Company is managed by experienced mining and business professionals.

Forward Looking Statements.........................................

J. Scott Drever, President

GOLDSOURCE MINES INC.
Contact: Fred Cooper
Telephone: 604.694.1760
Fax: 604.694.1761
Toll Free: 1.866.691.1760
Email: info@goldsourcemines.com
Website: www.goldsourcemines.com
570 Granville Street, Suite 501 Vancouver, British Columbia V6C 3P1

http://www.goldsourcemines.com/_resources/GXS_March_PDAC_11.pdf

Goldsource Mines Announces $3 Million Financing Via Short Form Offering Document and Private Placement

April 18, 2011

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, B.C – Goldsource Mines Inc. (“Goldsource” or the “Company”) (TSX-V: GXS FWB:G5M) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. (“Canaccord Genuity” or the “Agent”) to act as agent on a commercially reasonable efforts basis, in connection with the offering for sale, by way of a TSX Venture Exchange Short Form Offering Document, of up to 3,636,000 units (the “Units”) at a price of $0.55 per Unit for gross proceeds of up to $1,999,800 (the “Short Form Offering”). Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to subscribe for one additional common share at a price of $0.70 for a period of 24 months from the date of closing.

In addition to the Short Form Offering, the Company has negotiated a commercially reasonable efforts private placement (“Brokered Private Placement”) with Canaccord Genuity for approximately $1 million in any combination of units (the “PP Units”) at $0.55 per PP Unit (up to a maximum of 1,830,000 PP Units) and flow-through common shares (the “Flow-Through Shares”) at a price of $0.60 per Flow-Through Share (up to a maximum of 835,000 Flow-Through Shares).  Each PP Unit will have the same terms as the Units offered under the Short Form Offering.  The Company has also granted the Agent an option to solicit additional subscriptions for PP Units and Flow-Through Shares, exercisable 48 hours prior to closing, to raise additional gross proceeds of up to $150,975.

On closing of the Short Form Offering and Brokered Private Placement (the “Offerings”), the Company will pay the Agent a cash fee equal to 6.5% of the gross proceeds raised through the Offerings and will issue to the Agent warrants (the "Agent’s Warrants") equal to 6.5% of the aggregate number of Units, PP Units and Flow-Through Shares issued pursuant to the Offerings.  Each Agent’s Warrant shall be exercisable into one common share of the Company at a price of $0.70 per common share for a period of 24 months from the closing of the Offerings.

The funds raised from the Offerings will be used to fund on-going work programs on the Company’s properties and for general working capital purposes.

Closing of the Offerings is anticipated to occur on or before May 12, 2011 and is subject to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.........................................................­......

“J. Scott Drever”
J. Scott Drever, President
GOLDSOURCE MINES INC.

Contact: Fred Cooper
Telephone: 604.694.1760
Fax: 604.694.1761
Toll Free: 1.866.691.1760
Email: info@goldsourcemines.com
Website: www.goldsourcemines.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1

N E W S R E L E A S E
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

Goldsource Mines Announces Increase to Private Placement Financing

VANCOUVER, B.C April 25, 2011 – Goldsource Mines Inc. (“Goldsource” or the “Company”) (TSX‐V: GXS) is pleased to
announce that, in connection with its previously announced private placement financing (the “Brokered Private
Placement”) led by Canaccord Genuity Corp., it has increased the over‐allotment option of the Brokered Private Placement
from C$150,975 to C$700,975.
As a result of the increase in the over‐allotment option, the total proceeds of the Brokered Private Placement together with
the concurrent offering by way of a TSX Venture Exchange Short Form Offering Document have increased to $3,753,025.
The proceeds raised from the issuance of the securities shall be used to fund ongoing work programs on the Company’s
coal properties and for general working capital purposes.
Closing of the Offerings is anticipated to occur on or before May 12, 2011 and is subject to the receipt of applicable
regulatory approvals including approval of the TSX Venture Exchange.
Goldsource Mines Inc. is a Canadian resource company engaged in the exploration and development of Canada’s newest
coal field in the province of Saskatchewan. The Company has drilled only a portion of this new thermal coal field and has
discovered 17 coal deposits of varying size with coal thicknesses up to 126 meters within the permit area of the Border Coal
Project. Headquartered in Vancouver, BC, the Company is managed by experienced mining .....................


http://www.goldsourcemines.com/_resources/news/nr_2011_04_25.pdf

Wie schreiten die Projekte voran?
Wann kommt das Closing?
Lohnt sich hier ein Einstieg?

 N E W S R E L E A S E 

Goldsource Proposes Merger with Coal Gasification Technology Company - Prepares For Summer Drill Program  

July 11, 2011

 

VANCOUVER, B.C. July 11, 2011  – Goldsource Mines Inc. ("Goldsource" or the "Company") and Zero  Emission Energy Plants Ltd (ZEEP) are pleased to report that they have  entered into a binding Letter of Intent ("LOI) for a business  combination (the "Transaction") whereby the two companies would merge.

Goldsource is a publicly listed Canadian resource  company engaged in the exploration and development of Canada's newest  coal field in the province of Saskatchewan. Goldsource is responsible  for recently identifying one of Canada's most promising new coal  deposits, in Eastern Saskatchewan and to date has outlined coal  resources of more than 170 million tonnes of good quality, sub-  bituminous thermal coal (see below for categories). Headquartered in  Vancouver, BC, the Company is managed by experienced mining and business  professionals.

ZEEP is a private Bermuda company at arm's length to  the Company with worldwide rights to a leading and state of the art  gasification technology developed by the Pratt & Whitney Rocketdyne  ("PWR") division of United Technologies Inc.. The technology is able to  convert heavy hydrocarbons, such as the Goldsource coal, into clean  transportation fuels and chemicals while largely eliminating pollutants.  Industry has used gasification technology and equipment to transform  heavy hydrocarbons for nearly 50 years, but the PWR technology  eliminates virtually all of the issues commonly encountered with the  older generation equipment. The PWR technology has undergone extensive  testing at a pilot plant located in Chicago, Illinois that has been  supported by the US Department of Energy, Alberta Energy Research Inc.  (AERI) and ExxonMobil. ZEEP has partnered with PWR in the advancement of  the new technology and as the commercialization partner, is exploring  opportunities for installations of the technology around the world. ZEEP  is managed by a team of professionals with extensive experience in  gasification technologies and the acquisition and development of large  energy projects. ZEEP has offices in Houston, Calgary, Beijing China and  Sydney Australia. (for further information please go to www.ZEEP.com )

Letter of Intent

The obligations of Goldsource and ZEEP to complete  the Transactions contemplated in the LOI will be subject to, among other  things, negotiation of definitive documentation (the "Transaction  Documents") which will contain the terms and conditions set out in the  letter agreement and such other terms and conditions as are customary  for transactions of the nature contemplated by the LOI.

Pursuant to the LOI, the parties will complete the  Transaction on the basis that for each Goldsource common share a  Goldsource shareholder will receive 1.2727shares of the combined entity  ("NEWCO") and each ZEEP shareholder will receive one share for each of  their ZEEP shares. NEWCO will have approximately 154.8 million shares  issued and outstanding and approximately 183.0 million shares on a fully  diluted basis after giving effect to a financing of US$10 million to be  completed by ZEEP prior to closing of the Transaction. Goldsource and  ZEEP shareholders will hold approximately 23.4% and 76.6% respectively  of NEWCO.

The contemplated Transaction will be classified as a  reverse take-over under the policies of the TSX Venture Exchange and  will be subject to a number of conditions including, but not limited to,  receipt of all required regulatory approvals, the receipt of a fairness  opinion, board of directors and shareholder approval and the completion  of such due diligence as necessary to satisfy each of Goldsource and  ZEEP as to their respective financial condition, assets, corporate  records, business operations and any other affairs of the other party  deemed necessary. ZEEP will also be continued under the Business  Corporations Act (Alberta) and be required to complete a financing of  approximately US$10 million from arm's-length third party investors.

Trading in the Company's shares will be halted on the  TSX Venture Exchange until the conditions required by the TSX-Venture  Exchange for reinstatement of trading have been met. The parties have  agreed to complete the requirements for reinstatement of trading on the  TSX Venture Exchange in a timely fashion so that trading of Goldsource  shares may resume. The target date for completion of the Transaction is  expected to occur in the fourth quarter of 2011 following a meeting of  the Goldsource shareholders.

J. Scott Drever, President of  Goldsource stated; "We are extremely pleased with this proposed  combination in that gives Goldsource shareholders an excellent  opportunity to have the real value of our Saskatchewan coal resources  recognized. We are aware that monetizing the value of this our coal  assets is a significant challenge and now Goldsource will be able to  achieve this by combining our coal resource with the best, new clean  energy technologies currently available in the industry." He also went  on to say that, "the combination of Goldsource and ZEEP will also  provide Goldsource shareholders with participation in a number of clean  energy, project developments through a truly world class management team  with the capabilities to complete the development of our mine and  construct a major clean energy center in Saskatchewan as well as in many  other locations around the world."

Ron Oligney, CEO of ZEEP, stated  that he's also excited by the combination of the two Companies. "The  combination of PWR's game changing gasification technology and  Goldsource's promising Saskatchewan coal resource will allow us to  create one of the world's best industrial clean-tech stories". He went  on to say, "The management team at ZEEP has long believed that with the  right application of technologies like the PWR gasifier, heavy  hydrocarbons like coal, petroleum coke and biomass can be a significant  portion of our energy supply mix in the future. Coal is one of the  world's most abundant forms of energy and there's nothing wrong with  using it as long as we apply the innovation that allows it to be used in  an environmentally friendly manner. He went on to say, "with the  Goldsource coal, and the use of the PWR gasification technology the  merged company can become a leader in the advancement of clean coal  energy projects."

Completion of the transaction is subject to a number  of conditions, including Exchange acceptance and disinterested  shareholder approval. The transaction cannot close until the required  Shareholder approval is obtained. There can be no assurance that the  transaction will be completed as proposed or at all. Investors are  cautioned that, except as disclosed in the Management Information  Circular to be prepared in connection with the transaction, any  information released or received with respect to the reverse take-over  may not be accurate or complete and should not be relied upon. Trading  in the securities of the Company should be considered highly  speculative. The TSX Venture Exchange has in no way passed upon the  merits of the proposed transaction and has neither approved nor  disapproved the contents of this press release.

2011 Drill Programs

Goldsource is also pleased to report that preparation  is underway for its summer drill program to commence in August at its  wholly-owned Border Project ("Border") located near Hudson Bay,  Saskatchewan. The purpose of the summer program will be to test several  geophysical anomalies for potential expansion of its coal resources. A  second phase will be to collect a bulk coal sample for a variety of test  work with respect to coal-to-liquids, gasification, power plant  application and upgrading of the coal for transport will likely be  carried out after freeze-up once the scope of test work for the ZEEP  technology is determined.

The first part of the program will consist of 5 to 10  core holes (near road and helicopter-supported) to test 3 significant  geophysical anomalies which have been identified using the Company's  proprietary proven Coal Identification Matrix (CIM). One target is  approximately 5 km by 5 km and may contain a large coal resource near  road and rail. The other 2 targets are both greater than 1 km by 1 km  with potential to contain significant coal resources. Please see  attached map for target and drill hole locations: http://goldsourcemines.com/_resources/news/...ummer_drill_program.pdf

The second part of the program will consist of  approximately 10-20 large diameter core holes to collect a  representative bulk coal sample for test work at various labs and the  ZEEP pilot plant. This test work will provide additional quality  information with respect to its usage for coal to liquids, gasification,  power plant application or upgrading for transport. The most feasible  technology for the Border coal at this point appears to be coal to  liquids or gasification.

The Company's resource estimates were recently  revised as part of the Preliminary Assessment completed by Marston  Consultants and EBA Engineering Consultants Ltd (a Tetra Tech company).  The Company expects to increase the overall tonnages and upgrade the  resources in the speculative and inferred categories with the upcoming  drill program. The addition of the Niska 105 deposit accounted for much  of the increase to the speculative category but airborne gravity surveys  shows that the target is much larger than initially believed and that  the single coal intercept of 37 metres was near to the northeastern end  of the deposit. There are a number of priority targets yet to be tested  that could add to the overall resource base of the area.

.....................................................

"J. Scott Drever"
J. Scott Drever, President
GOLDSOURCE MINES INC.

 

Contact: Fred Cooper
Telephone: (604) 694-1760
Fax: (604) 694-1761
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

http://www.goldsourcemines.com/_resources/news/nr_20110711.pdf

Der TradingHalt scheint ne Never ending story zu werden.............................

VANCOUVER, BRITISH COLUMBIA – September 1, 2011 – Goldsource Mines Inc. ("Goldsource") (TSXV: GXS) is pleased announce that Goldsource and Zero Emission Energy Plants Ltd. ("ZEEP") have entered into a definitive arrangement agreement dated August 24, 2011 (the "Arrangement Agreement") in connection with the arm's length business combination of Goldsource and ZEEP previously announced on July 11, 2011.

 

The Arrangement Agreement
The Arrangement Agreement contemplates the following (collectively, the "Transactions"):
- 2 -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES.
• under the terms of the Arrangement Agreement, Goldsource and ZEEP will effect a business combination whereby ZEEP will acquire all of the issued and outstanding common shares ("Goldsource Shares") of Goldsource in exchange for 1.2727 Class A common shares ("ZEEP Shares") of ZEEP for each Goldsource share held, and Goldsource will become a wholly-owned subsidiary of ZEEP (the "Arrangement");
• any warrants to acquire Goldsource Shares, if outstanding immediately prior to the effective time of the Arrangement, shall remain outstanding and exercisable for ZEEP Shares in accordance with the warrant adjustment provisions contained in the terms of such warrants;
• each stock option to acquire a Goldsource Share shall be exchanged for a ZEEP replacement stock option to purchase such number of ZEEP Shares equal to the number of Goldsource Shares that were the subject of such Goldsource stock option so exchanged multiplied by 1.2727. The exercise price, the term to expiry and vesting schedule of each ZEEP replacement stock option shall be the same as that of the Goldsource stock option;
• a new management team will be appointed led by Ronald E. Oligney as Chief Executive Officer and Bradley J. Thomson as Chief Financial Officer (the "New Management")

.............................

 

http://www.goldsourcemines.com/_resources/news/nr_2011_09_01.pdf

Goldsource Begins Drill Program at Border
TSX‐V: GXS FWB: G5M For Immediate Release
VANCOUVER, B.C. September 6, 2011 – Goldsource Mines Inc. (“Goldsource” or the “Company”) is pleased to report that its
summer drill program previously announced on July 11, 2011 is now underway at its wholly‐owned Border Project (“Border”)
located near Hudson Bay, Saskatchewan. Road access, where necessary and helicopter drill pads have been constructed and
the drill rig has begun the first hole. The purpose of the program is to test several previously‐defined geophysical anomalies
for potential coal resource expansion (see attached map).
The program will consist of up to 10 core holes that will be drilled near to road access or utilizing helicopter support to test 3
significant geophysical anomalies which have been identified using the Company’s proprietary proven Coal Identification
Matrix (CIM). One target is approximately 3 kilometres by 3 kilometres and exhibits geophysical signatures similar to those
that are related to known large coal deposits. The other 2 targets with similar geophysical features both measure more than
1 kilometre by 1 kilometre. It is expected that the drilling phase of this program will take approximately 45 ‐ 60 days to
complete. As in the past the Company expects to report coal interval intercepts once the holes are completed and
electronically logged with analytical results to follow once they become available.
Applications have been submitted to the Saskatchewan Ministry of Energy and Resources for conversion of existing coal
permits to coal leases. The Company has applied to retain approximately 56,000 hectares which covers all current coal
resources, potential exploration targets and road and rail infrastructure access. The leases will be valid for a period of 15
years, renewable for a second 15 year period and are subject to a $5.50 per hectare annual rental fee but no work
commitments.

 

http://www.goldsourcemines.com/_resources/news/nr_2011_09_06.pdf

.........vielleicht nicht mehr lange anhalten.

Goldsource Corporate Update

ZEEP Transaction Closing Date Extended

+ 100 Metre Coal Zones Intercepted at Border

TSX-V: GXS FWB: G5M       For Immediate Release

VANCOUVER, B.C.  November 4, 2011 – Goldsource Mines Inc. (“Goldsource” or  the “Company”) announces that it has 

agreed with Zero Emissions Energy Plants (ZEEP) to extend the closing date of the business combination of Goldsource and 

ZEEP  to December 31, 2011.  A definitive Arrangement Agreement was announced September 1, 2011. In connection with 

the closing date extension, the  date of the  requisite Special  Shareholders Meeting has been postponed  and  is being 

rescheduled for mid to late December.   

Completion of the Arrangement is subject to the satisfaction of a number of conditions under the Arrangement Agreement, 

including receipt of the approval of the TSX Venture Exchange (the "Exchange") to the listing of the ZEEP shares, approval of 

the Arrangement and election of  new Directors by not less than 50% of the votes cast at the ZEEP shareholder meeting, 

approval of the Arrangement by not less than two-thirds of the votes cast at the Goldsource shareholder meeting, approval 

by the Supreme Court of British Columbia (the "Court"), receipt of all other required regulatory and third party approvals and 

consents; and such other conditions as may be required to complete and effect the Arrangement.  

Under  the  amended terms of the Arrangement Agreement  ZEEP is required to have completed a financing for minimum 

aggregate proceeds of $11,000,000. ZEEP has received subscriptions for over $5.0 million of the required financing and is in 

advanced discussions for the balance of the financing with financial institutions and investors.

The Company is also pleased to report that it has completed drilling 8 core holes in its most recent exploration program at its 

wholly-owned  Border Project (“Border”) located near Hudson Bay, Saskatchewan, Canada. These holes, some of  which

encountered several thick coal zones in excess of 100 metres, were drilled  in the Niska 105 (5 holes) and Pasquia 98  (2 holes) 

deposits as well one hole to test an airborne geophysical anomaly in the Red Deer area in Manitoba. Drilling on the property 

to date has discovered a total of 17 coal deposits at Border with good potential for additional coal discoveries (see attached 

map).

Exploration program highlights are as follows:

• A total of 8 holes completed with 1,308 metres drilled. Six out of eight holes encountering coal zone intercepts.

• The most significant coal  zone  intervals  occurred in the Niska  105  sub-basin  where  5 holes encountered  true,

aggregate thicknesses ranging from 69 to 119 metres (see table below).

• Infill drilling has given better definition to the Niska 105 deposits where the objective was  to upgrade Speculative

Resources to Indicated and Inferred Resources. A majority of the Speculative Resource at Niska 105 are expected to 

be converted to Indicated Resources with potential increase in overall resources.

• Niska 105 deposit is conveniently located adjacent to rail and, after completing the upgrade to Indicated Resources, 

should be a priority above other known Company deposits for near-future studies and potential development. ...............................................

 

 

http://www.goldsourcemines.com/_resources/news/nr_2011_11_04c.pdf

Goldsource Announces Termination of ZEEP Transaction
Reviews Latest Drill Program Results
TSX‐V: GXS FWB: G5M For Immediate Release
VANCOUVER, B.C. December 12, 2011 – Goldsource Mines Inc. (“Goldsource” or the “Company”) announces that it has
provided Zero Emission Energy Plants Ltd. (ZEEP) with notice of termination of the Arrangement Agreement that was
announced September 1, 2011 in connection with the business combination of Goldsource and ZEEP.
Completion of the Arrangement was subject to the satisfaction of a number of conditions under the Arrangement
Agreement, including completing a financing for minimum aggregate proceeds of $11,000,000, which do not now appear to
be achievable on a timely basis.
J. Scott Drever, President stated: “Raising the necessary financing has been a challenge for ZEEP in these volatile markets and
we are disappointed that the current difficult market conditions have precluded the raising of the requisite funds on a timely
basis. We also believe that recent amendments to the Pratt Whitney Rocketdyne technology licensing agreement make the
terms of the ZEEP transaction significantly less attractive from Goldsource’s perspective. We have agreed with ZEEP to
explore possible business arrangements under which Goldsource would have access to the Pratt Whitney Rocketdyne coal
gasification technology to advance the development of the Border coal”.
As the intrinsic value of the coal deposits at Border remains intact despite the termination, the Company intends to review
the recommendations of the Marston Preliminary Assessment Report and to continue to identify potential applicable
technologies and possible participants with the special expertise and financial capacity to develop a major project such as
Border. The Company will also examine business opportunities that may lead to the acquisition of assets capable of reaching
commercial development in a shorter time frame and with less capital than those currently contemplated in the Preliminary...............................

 

www.goldsourcemines.com/_resources/news/nr_2011_12_12.pdf

VANCOUVER, B.C. December 14, 2011 – Goldsource Mines Inc. (TSX VENTURE:GXS)(FRANKFURT:G5M) (the "Company") is pleased to report that the shares of the Company will resume trading on the TSX Venture Exchange commencing at the opening of trading on Dec. 15, 2011. Trading in the shares of the Company has been halted during consideration of an Arrangement Agreement which was terminated, as disclosed in a news release dated Dec. 12, 2011.

Goldsource Mines Inc. is a Canadian resource company engaged in the exploration and development of Canada’s newest coal field in the province of Saskatchewan. The Company has aggressively drilled only a portion of this new thermal coal field and has discovered 17 coal deposits of varying size with coal zone thicknesses up to 126 meters within the permit area of the Border Coal Project.  Headquartered in Vancouver, BC, the Company is managed by experienced mining and business professionals.

This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company’s actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company’s control.  These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data,  the uncertainties of resource and reserve estimations, receipt and security of coal permits and mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in commodity product prices; currency fluctuations; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made.  The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

“J. Scott Drever”
            

§
                
§
Contact:          Fred Cooper
Telephone:     (604) 694-1760
Fax:                 (604) 694-1761
Toll Free:        1-866-691-1760 (Canada & USA)
Email:              info@goldsourcemines.com
Website:          www.goldsourcemines.com
570 Granville Street, Suite 501

Goldsource Reports Coal Analyses From Border Property
Converts Exploration Permits to Coal Leases
TSX-V: GXS FWB: G5M For Immediate Release
VANCOUVER, B.C. February 1, 2012 – Goldsource Mines Inc. (“Goldsource” or the “Company”) is pleased to report that it has received proximate analyses for the 8 core holes completed during the fall 2011 exploration program at its wholly-owned Border Project (“Border”) located near Hudson Bay, Saskatchewan, Canada. Multiple intercepts of up to 32 metres of continuous thermal coal were encountered. Drilling to date has discovered 17 coal deposits at Border with good potential for additional coal discoveries.
J. Scott Drever, President stated: “This program was successful in expanding the coal resources in the Niska 105 deposit and added to the understanding of the nature of the coal occurrences in Pasquia 98. We will revise our current resource estimates to confirm that we have exceeded the threshold target of 100,000,000 tonnes of Indicated Resources to support a potential economic operation. We are continuing our efforts to identify a useable technology and possible participants to assist in development of the Border coal deposits as well as exploring other business opportunities with respect to corporate growth of the Company”.
Summary of Coal Proximate Analyses at Border:
Five of the 6 drill holes that intercepted significant coal were in the Niska 105 deposit which was estimated in the 2009 Preliminary Economic Assessment Technical Report to contain 26.6 million tonnes of speculative resource based on one original drill hole and the application of a restrictive geophysical outline (see attached figures). The new holes served to define the actual boundaries of the deposit and are expected to improve the category of the resource from Speculative to Indicated. A revised tonnage estimate will be reported once the compilations and computer modeling are complete.

 

The weighted average ash and calorific values on an air dried basis from the PEA for the Indicated Resources were 24.4% and
17,555 KJ/Kg respectively and for the Inferred Resources these values were 25.11% and 19,620 Kj/Kg respectively. The
weighted average ash and calorific values for the intercepts reported above were 18.6 % and 22.570 KJ/Kg respectively. These
results show a notable improvement in the general characteristics of the coal quality of Niska 105 that could make it one of
the best deposits found to date.
Proximate analysis was completed by Loring Labs in Calgary, Alberta. Drill holes DD11-141 and 148 did not intercept significant
coal. Compilation of drill results is now completed and will be incorporated into an updated NI 43-101 Technical Report that
will include an updated resource model at Border.
Current coal resources at Border, as established in the Company’s NI 43-101 ”Preliminary Assessment Report on the Border
Coal Project, Saskatchewan, Canada” prepared by Marston Canada Ltd. And EBA Engineering Consultants Ltd., a Tetra tech
Company December 24, 2009 and available at www.sedar.com, include:
 Indicated Resources: 79.1 million tonnes
 Inferred Resources: 34.8 million tonnes
 Speculative Resources: See NI43-101 Preliminary Assessment Report
Goldsource has strengthened its land position by the conversion of its three year exploration permits to Coal Mineral Leases.
The Company has received 81 Coal Mineral Leases comprising 56,109 hectares from the Saskatchewan Ministry of Energy and
Resources that cover all of the coal deposits discovered to date as well as areas that are considered favorable for the discovery
of additional coal deposits. The leases are for a period of 15 years renewable upon the terms and conditions set out in the
Regulations which include an annual rental fee of $5.50 per hectare.....................................................

 

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