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Goldsource Mines, Inc.

July 1, 2008

(CDNX: GXS.V Tier 2)

June 28, 2008:	$18.56
52-week range:	0.16 – 19.60
Volume:	144,770
Avg Vol. (3m):	386,876
Price:	$19.00
Shares outstanding:	20 million
Market Cap:	$400 M

(June 26, 2008) - Goldsource Mines Inc. (the "Company") (TSX VENTURE:GXS - News) announces that it has received an additional 121 coal permit certificates from the Saskatchewan Ministry of Energy and Resources. The receipt of these certificates completes the issuance of permits for applications which had received priority status confirmed by the Ministry in a letter dated May 21, 2008. The permits cover its recently announced Border property coal discovery near Hudson Bay, Saskatchewan. A total of 176 coal permits have been issued to the Company to date. The Company's coal permits now comprise a total of approximately 135,100 hectares being an area of 1,351 square kilometers.

The Company expects to commence its initial exploration drilling in the priority area shown on the map during the second week of July, 2008. This initial drill program will consist of seven holes which are designed to outline an optimum inferred resource, provide data on coal quality and assist in defining the orientation of the potential coal basins.

The Saskatchewan Coal Discovery

In April 2008, an obscure Vancouver-based company Goldsource Mine Inc. (GXS:TSX:V) discovered a major coal field. Drilling two preliminary wells, the preliminary results indicated a multi-billion dollar coal field that can be mined at a cost of a few million dollars. Initial costs to drill the first seven holes is estimated to be around $1 million, and the target volume is a potential two to four billion tonnes of coal.
It should be mentioned that the target tonnage is conceptual in nature.
There is not sufficient drilling or information available to justify such a figure. The target price is based on the conditions set forward in GXS paper 88/21 for the standardized reporting of coal resources and reserves in Canada.

Goldsource is run by an experienced mining team which is indicated in the table below.

J. Scott Drever, President
Mr. Drever has 35 years of international experience in mineral exploration and development and mining operations. Mr. Drever has served as an executive officer and director of a number of public companies listed on the TSX and the TSX Venture Exchange including the Dome Mines Group, Placer Dome Ltd., Blackdome Mining Corporation.

Steven B. Simpson, Director
Mr. Simpson has been an Australian certified practicing accountant (CPA) since 1977. He is also a Chartered Secretary and member of the Institute of Directors. He is a Commerce graduate from the University of New South Wales and is a former partner of Price Waterhouse (now PriceWaterhouseCoopers LLP) in both the Australian and Asian markets.

Mr. Simpson is a principal of a mergers and acquisitions, asset management and corporate advisory group in Singapore.

Bernard Poznanski, Corporate Secretary
Mr. Poznanski is one of the founding partners of Koffman Kalef, a law firm specialized in business law, and is currently the head of that firm's securities group. Mr. Poznanski acts for a wide variety of companies listed on the TSX, the TSX Venture Exchange, the American Stock Exchange and NASDAQ. He has particular expertise in dealing with mining and technology companies.

Tinus Maree, Director
Mr. Maree has over 20 years of experience in international finance both as a lawyer specializing in mergers and acquisitions and as an investment banker. He has served on the boards of private and public companies in South Africa and Canada. He was educated in South Africa and holds bachelor of civil and common law degrees (BCL and LLB) from the University of Pretoria. For the last ten years, Mr. Maree has been a principal and director of the River Group, an international corporate finance advisory firm with offices in South Africa, Cyprus and Canada. In this capacity, he has been involved in numerous multi-jurisdictional transactions in the private equity and public markets in South Africa, Canada and the United Kingdom. These transactions included capital raisings, mergers, acquisitions, hostile takeovers and divestitures. He has successfully advised public companies on transactions in the gold, diamond and coal sectors. Most recently, Mr. Maree was a founder, director and the Chief Executive Officer of Rusaf Gold Limited, a successful mineral exploration company with gold assets in Russia and Tanzania that was acquired by Great Basin Gold Limited during the first quarter of 2008.

By June 17, 2008 GXS received confirmation of issuance of the initial 55 coal permits concerning the recent coal discovery.

On the 26th of June an additional 126 coal permits have been issued by the Saskatchewan Ministry of Energy.

The company has been advised by the Saskatchewan authorities that the initial 55 coal permits will be followed by 179 coal permits. The initial 55 permits applies to 420 square kilometers and is centered on the two coal drill holes which resulted in the initial discovery of coal.

179 coal permits apply for 1351 square kilometers.

The Opening Chapter

GXS is currently permitted to drill seven holes under its current certificate. The drilling will start about July 15, 2008 and end around mid-August. During that time, by the end of August 2008 we will get an initial evaluation of the seven holes and the permits for 179 coal certificates will be issued.

The evaluation of each hole after being drilled will be sent to the laboratory and announced separately. This will allow getting nearer and nearer to the size of the coal deposits, and give rise to the potential evaluations by analysts.

The Importance of the Goldsource Coal

Let us now go through a hypothetical example:

Goldsource has about 20 million shares outstanding. A market capitalization of $400 million.
Goldsource has recently raised $16 million

June 20, 2008 – Goldsource Mines Inc. is pleased to announce that the Company and Genuity Capital Markets have set the terms of the Company’s private placement financing announced June 13, 2008 (the “Offering”). The Offering will consist of 1,532,000 common shares (“Shares”) of the Company at an issue price of $11.75 per Share for gross proceeds of approximately $18 million, and is expected to close on June 27, 2008.

The Shares will be sold by way of private placement exemptions in Canada, into the United States via Rule 144A or in such other manner as not to require registration under the United States Securities Act of 1933, as amended, and into jurisdictions outside of Canada and the US.

3. If 1 billion tonnes of coal are confirmed, the following numbers apply.

A. If we value every tonne at $1 we are talking of at total underground value of $1 billion.

B. There are 20 million shares outstanding, this is equivalent to $50 per share.

C. There are 2 billion tonnes confirmed then potential value is $100 per share.

The newer holes drilled between
July 15 and August 15
Results announced after each hole drilled
Potential Budgets
	1 B tons underground		2 B tons underground
Value:		$1/ton
	$1,000,000,000		$2,000,000,000
Shares Outstanding		20,000,000
Per share	$50		$100
Upgraded when actual drilling commences
$5/ton
	$250 / share	$500 / share

Subsequent to the drilling these holes, the company will prepare an official filing 14-101. At that stage, preparation will be made for actual drilling which will start during the winter of 2008/2009. Based on the cost of living, and the valuation of the coal deliveries, after building the infrastructure, coal can actually be delivered in early 2010. At that time, however, the value of the coal deposit can jump from $1 to $5 and an arithmetic of unusual nature would present itself.

The World of Coal and Goldsource

The United States produces over 1 billion tons or about 35% of the world’s coal supply – more than any other country produces.
Coal generates more than half of the electricity used in the United States.
U.S. coal deposits contain more energy than that of all the world’s oil reserves.
The United States has more than a 250-year supply of coal if it continues using coal at the same rate at which it uses coal today.
Each person in the United States uses 3.8 tons of coal each year.
More than 2 million acres of mined lands have been reclaimed over the past 20 years – that’s an area larger than the state of Delaware.
The average coal miner is 42 years old and has 20 years of experience.
Wyoming is the top coal producing state producing about 390 million tons in 2004. Montana is the state with the most coal reserves of about 120 billion tons.
Coal ash is used as filler for tennis rackets, golf balls, and linoleum.
Texas is the top coal consuming state using about 100 million tons each year.

The United States produces about 35% of the world’s coal, more than any other country, and has more than 250 billion tons of recoverable coal, enough to last for hundreds of years.

Coal is essential, as it is used to generate more than half of all the electricity produced in the U.S. It’s also used as a basic energy source in many industries, including steel, as well as cement and paper. It’s also used as a heating fuel. Coal is good for the economy too as coal production provides thousands of jobs in exploration, mining, the supply of products and services, transportation and a whole host of other support jobs.

Coal is available as there is enough to last over 250 years. Many U.S. coalbeds are close to the earth’s surface and modern mining methods allows easy reach of most of our coal reserves.

Greater use of coal will help the U.S. become more self sufficient in energy. In addition to its use as a solid fuel, coal can be converted to gas to replace expensive imported fuels. Consumers also benefit because coal is an economical fuel. With expanded clean coal use, coal can help solve our energy problems. Like gas and oil, coal is a fossil fuel.

There are four major uses of coal in the U.S. Electric power generating plants burn coal to make steam. The steam turns turbines which generate electricity. Electric utility companies use about 90% of coal mined in the U.S. Coal is also used for industry, such as concrete and paper, and ingredients of coal, such as methanol and ethylene are used in making plastics, tires, synthetic fibers, fertilizers, and medicines. Coal is also used for making steel. It is baked in hot furnaces to make coke, which is used to smelt iron ore in the steelmaking process. The carbon in coal gives steel the strength and versatility for products such as bridges, buildings, and automobiles. Coal is also exported to Western Europe, Canada, and Japan.

Let History Record!

The remarkable nature of the fact that the size of Goldsource's coal reserve and potential production creates the opportunity that is usually called in financial literature, a Xerox type of phenomenon is happening.

If so, Vancouver again surprised the world. First Diamond Field a nickel discovery in 1994 was sold at $4 billion. Then Ivanhoe, with partners is trying to capture the largest gold and copper discovery in Mongolia, estimated to reach $100 billion. Third, the story of Goldsource has only begun. One thing is sure.

The epitaph of Goldsource and Vancouver has not been written.

Disclaimer

Information contained herein is based on data obtained from recognized statistical services, issuers reports or communications or other sources believed to be reliable. However, such information has not been verified by us and we do not make any representation to its accuracy or completeness. Any statement non-factual in nature constitutes only current opinions which are subject to change. BERAL INC. or their officers, directors, analysts or employees may have positions in the securities or commodities referred to herein, and may as principal or agent buy and sell such securities or commodities. An employee, analyst, officer or a director of BERAL INC. may serve as a director for companies mentioned in this report. Neither the information nor any comment expressed shall constitute an offer to sell or a solicitation of an offer to buy any securities or commodities mentioned herein. There may be instances when fundamental, technical and competitive opinions may not be in concert. This firm may from time to time perform investment banking or other services for or which investment banking or other businesses from any company mentioned in this report.