THUNDER BAY, ONTARIO–(Marketwired – Nov. 21, 2016) – November 21, 2016 – Source Exploration Corp. (the “Company” or “Source”) (TSX VENTURE:SOP)(Frankfurt:4QW) is pleased to announce that, further to its news release dated September 7, 2016, it has entered into a definitive agreement (the “Extension Agreement“) to extend the option agreement to acquire the Pepe, Pepe Tres and San Jose concessions located at its Las Minas property. These concessions are part of the six concessions held under option or wholly owned by Source at Las Minas, Veracruz State, Mexico.
The Extension Agreement provides for an extension to the term of the option agreement by an additional one year to December 5, 2017 for consideration equal to US$180,000, payable in equal monthly installments over a six month period and commencing no later than December 7, 2016. All payments are subject to VAT (Value Added Tax). All other terms of the original agreement of November 30, 2010 and prior extension agreements remain unchanged.