GOLDSOURCE MINES INC - GXSFF STOCK NEWS

Goldsource has postponed its special meeting with securityholders from June 14, 2024, to June 21, 2024. This meeting aims to approve an arrangement where Mako Mining will acquire all Goldsource shares. The delay allows securityholders to review additional disclosures in Mako's amended technical report for the San Albino Project. These disclosures, required by the British Columbia Securities Commission, do not affect the existing mineral resource estimates. Preliminary voting indicates over 97% support for the arrangement. The related court hearing is also postponed to June 26, 2024.

Goldsource Mines announced filing a management information circular for a Special Meeting to approve an arrangement with Mako Mining Corp. The meeting is set for June 14, 2024, at 10:00 a.m. PST in Vancouver. Goldsource's Board strongly supports the arrangement, urging Securityholders to vote by June 12, 2024. Under the plan, Mako will acquire all outstanding Goldsource shares, offering 0.22 Mako shares per Goldsource share. This merger aims to leverage Mako's San Albino Gold Mine, enhancing growth and capital markets profile. Securityholders are encouraged to read meeting materials and vote promptly.

Mako Mining Corp. and Goldsource Mines Inc. have entered into an arrangement agreement for Mako to acquire all of Goldsource's issued shares. The transaction will combine Mako's Nicaraguan gold operations with Goldsource's Eagle Mountain Gold Project in Guyana, creating a company with enhanced growth potential, proven management teams, and district-scale exploration opportunities. Key highlights include geographic diversification, leveraging of engineering teams, robust free cash flow generation, and geological similarities between assets. The transaction is expected to create value for both Mako and Goldsource shareholders.

Goldsource Mines Inc. announces the filing of an independent technical report for the Eagle Mountain Gold Project in Guyana, supporting the results of the preliminary economic assessment. The report is in compliance with NI 43-101 standards and confirms the information previously disclosed.

Goldsource Mines Inc. has announced the results of a Preliminary Economic Assessment for the Eagle Mountain Gold Project in Guyana, South America. The assessment shows strong after-tax returns on capital and free cash flow, with an after-tax IRR of 57% and after-tax NPV5% of US$292 million at a base-case gold price of US$1,850 per ounce. The Project has a 15-year mine life with a quick payback period and an average annual gold production of 66,500 ounces for 15 years.

Goldsource Mines Inc. (TSXV: GXS) (OTCQX: GXSFF) (FSE: G5MA) provides an update on the planned Preliminary Economic Assessment for the Company's 100%-owned Eagle Mountain Gold Project in Guyana. The PEA considers a low-capex phased development plan, with a modest delay in release. The Company anticipates receiving the PEA results in January 2024, based on the 2022 Mineral Resource Estimate of 1,183,000 oz of gold in Indicated Resources and 582,000 oz of gold in Inferred Resources. The Company will be participating in industry conferences in the first quarter of 2024.

Goldsource Mines Inc. (GXS) grants 1,825,000 stock options under its Stock Option Plan at $0.29 per share, expiring December 1, 2028.

Goldsource Mines provides update on engineering and exploration activities for Eagle Mountain Gold Project in Guyana. Preliminary Economic Assessment (PEA) progressing well, results expected in Q4 2023. Improved balance sheet after $2.7 million equity financing. Exploration program to include generative work and drilling. PEA based on April 2022 Mineral Resource Estimate of 1,183,000 oz of gold in Indicated Resources and 582,000 oz of gold in Inferred Resources. Engineering activities consider low-capex phased development plan. Generative exploration program expanded. Significant drill intercepts at Soca and South Ann prospects.