GXS Goldsource Mines Inc

Goldsource Mines Inc. (TSX VENTURE:GXS)(FRANKFURT:G5M) ("the "Company") is
pleased to report that the results of an independent Preliminary Assessment NI
43-101 Technical Report, being prepared by Marston Consultants ("Marston") of
Calgary and EBA Engineering Consultants ("EBA") of Vancouver for the Company's
100%-owned Border coal project, located in east-central Saskatchewan, are
expected to be announced prior to year end. This Preliminary Assessment will
present various preliminary technical and economic scenarios and provide the
Company a basis from which to consider the most likely alternatives for the
possible ongoing development of the property.


Amongst other issues, the report will address potential markets and uses for the
Border coal. Several coal technologies for energy production are under review
including clean coal power generation, coal quality upgrading, coal gasification
and coal to liquids. Preliminary results suggest that at this time, the most
likely viable market for the Border coal is a coal-to-liquids process. In
conjunction with the Preliminary Assessment, the environmental baseline work
conducted by EBA will serve as the basis for permitting for Goldsource's
potential future operations.


Subject to the recommendations of the pending Preliminary Assessment and the
securing of adequate financing, the Company has planned a winter program that
would entail a bulk-sampling program for coal-to-liquids test work which would
include the extraction of 5 to 10 tonnes of coal. In addition Goldsource will
drill several of the new geophysical targets, with a view to substantially
increasing its current resource base.


Current coal resources at Border include:



--  Indicated Resources: 63.5 million tonnes 
--  Inferred Resources: 89.6 million tonnes 
--  Speculative Resources: 18.7 million tonnes 



Based on the results of the work carried out in this year's drill program, the
Company is anticipating that the Preliminary Assessment will show revised
resources in which some of Goldsource's previous Inferred Resources have been
converted to Indicated Resources.


In April of 2010, the Company completed a detailed airborne gravity geophysical
program over the known priority coal deposits at Border. The gravity survey was
implemented to test coal deposit boundaries and better define coal deposit size.
Successful definition of coal boundaries within plus or minus 20 metres appears
to be possible using these airborne survey techniques. Several new targets have
been identified that are substantially greater in size than the deposits
identified to date and a number of known deposits show boundaries beyond those
currently established. 


The Company has filed on SEDAR its Financial Statements and Management
Discussion and Analysis for the three and nine month periods ending September
30, 2010. The Financial Statements show that the Company has working capital of
$1,394,261 at the end of the period.


"It is encouraging to note that coal prices seem to be on the rise once again
and the demand for global energy and coal fired power generation specifically
seems to go unabated," said J. Scott Drever, President for Goldsource. "The
realization that many alternative forms of electrical energy generation are
simply not adequate to meet base loads or the growing demand and are generally
extremely expensive is beginning to be recognized in many areas. This
realization should bring a more balanced approach to the uses of fossil fuels
than we have seen in the recent past which will be beneficial to the long term
prospects for the development of the Border coals as a significant energy
source." 


Goldsource Mines Inc. is a resource company engaged in the exploration and
development of Canada's newest coalfield in the province of 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. The Company has headquarters
based in Vancouver, BC.


The Qualified Person under National Instrument (NI 43-101) Standards of
Disclosure for Mineral Projects for this News Release is N. Eric Fier, CPG,
P.Eng, and Chief Operating Officer for Goldsource Mines Inc., who has reviewed
and approved its contents. For further information, please refer to Goldsource's
corporate filings on www.sedar.com or the Company's website at
www.goldsourcemines.com. 


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, President 

GOLDSOURCE MINES INC.

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