Source Gold Corp. Acquires Beardmore-Geraldton Mineral Claims

CALGARY, ALBERTA, Nov 09 (MARKET WIRE) --
Source Gold Corp. (OTCBB: SRGL) has entered into an option agreement with
Thunder Bay Minerals Inc., whereby Source Gold will earn a 50% interest
in a contiguous block of mineral claims, known as the KRK West Claims,
which cover approximately 15 square miles, and are located in the
prolific Beardmore-Geraldton gold mining camp in the Thunder Bay Mining
District of North West Ontario, Canada.

The Beardmore-Geraldton Gold Camp is the fourth most prolific area of the
Northern Ontario/Quebec "greenstone" gold camps, and has a production
history of over 4.1 million oz. of Gold. Recent nearby major discoveries
such as KXL's Hercules discovery and ONT's Brookbank discovery confirm
that the Beardmore-Geraldton gold camp has the potential to come up to
par with the other more developed greenstone gold camps.

The Company plans to commence an aggressive exploration program, centered
on the several major fault lines which traverse the mineral claims. An
initial trenching and sampling program has uncovered a number of highly
mineralized areas of interest.

Pursuant to the Option Agreement, Source Gold will pay $110,000 to
Thunder Bay and incur $1,000,000 in exploration funding prior to December
31, 2011. In addition, Source Gold will issue 2,000,000 common shares to
the shareholders of Thunder Bay, subject to SEC rule 144.

About Source Gold Corp.

Source Gold Corp. is a publicly traded junior mineral exploration company
trading under the symbol SRGL.OB. The Company's corporate philosophy is
to build shareholder value through the exploration and development of
high quality mining and exploration projects in Canada, concentrating on
gold in the prolific Beardmore-Geraldton Gold Camp in North Western
Ontario.

Submitted on behalf of the board of directors

Lauren Notar, President /CEO

Source Gold Corp.

www.sourcegoldcorp.com

Legal Notice Regarding Forward-Looking Statements

Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and uncertainties.
Forward-looking statements are based on current facts and analyses and
other information that are based on forecasts of future results,
estimates of amounts not yet determined, and assumptions of management.
Forward looking statements are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "aims", "potential", "goal", "objective",
"prospective", and similar expressions or that events or conditions
"will", "would", "may", "can", "could" or "should" occur. Information
concerning gold or other mineral reserve estimates may also be deemed to
be forward looking statements, as it constitutes a prediction of what
might be found to be present if and when a project is actually developed.

Actual results may differ materially from those currently anticipated due
to a number of factors beyond the reasonable control of the Company. It
is important to note that actual outcomes and the Company's actual
results could differ materially from those in such forward-looking
statements. Factors that could cause actual results to differ materially
include misinterpretation of data, inaccurate estimates of gold or
mineral deposits, the uncertainty of the requirements demanded by
environmental agencies, the Company's ability to raise financing for
operations, breach by parties with whom we have contracted, inability to
maintain qualified employees or consultants because of compensation or
other issues, competition for equipment, inability to obtain drilling
permits, potential delays or obstacles in drilling operations and
interpreting data, the likelihood that no commercial quantities of gold
or minerals are found or recoverable, and our ability to participate in
the exploration of, and successful completion of development programs on
all aforementioned prospects and leases. Additional information on risks
for the Company can be found in filings on Edgar of other junior mineral
exploration companies with the US Securities and Exchange Commission.
This announcement may also contain information about adjacent properties
on which we have no right to explore or mine. We advise U.S. investors
that the SEC's mining guidelines strictly prohibit information of this
type in documents filed with the SEC. U.S. investors are cautioned that
mineral deposits on adjacent properties are not indicative of mineral
deposits on our properties.

Contacts:
Source Gold Corp.
Lauren Notar
President /CEO
(403) 922-8562
Website: www.sourcegoldcorp.com

Copyright 2009, Market Wire, All rights reserved.

-0-