Source Steps Out at San Acacio; Extends Veta Grande Vein to Depth ; Veta Natividad Grades 155g/t Silver Over 3.0 m; Company Prepares for Underground Drilling

Shares Issued: 26,181, 248 TSX-V: SOP For Immediate Release March 16, 2010

Source Steps Out at San Acacio; Extends Veta Grande Vein to Depth ; Veta Natividad Grades 155g/t Silver Over 3.0 m; Company Prepares for Underground Drilling

SOURCE EXPLORATION CORP. (the “Corporation” or “Source”) (SOP: TSX-V) is pleased to announce drill results for step out drilling recently completed on the Veta Grande and Veta Natividad veins at its San Acacio property located at Zacatecas, Mexico.

Step out hole SA-10-09, drilled to test the Veta Grande vein at depth, was located approximately 470 metres southeast on strike from the site of initial drilling (see Press Release January 10, 2010). The hole extended the Veta Grande vein to a depth of 161 metres below the lowest operating level of the San Acacio mine (300m Purisima level). Drilled to a depth of 404.6 metres, the hole intersected 1.65 metres grading 144 g/t silver and 0.20 g/t gold at a down hole depth of 382 metres. The hole also intersected a new zone of mineralization located in the hanging wall of the Veta Grande vein grading 220 g/t silver, 0.42 g/t gold, 0.12% copper, 1.33% lead and 4.10% zinc over a core length of 1.2 metres.

Step out hole SA -10-11 was drilled to test the strike extension of the newly discovered Veta Natividad vein. Discovery hole SADD-09-04A intersected a high grade silver interval with assays of 3,090 g/t silver, 0.57 g/t gold, 0.04% copper, 0.92% lead and 3.27% zinc over a core length of 0.3 metres in a highly oxidized breccia zone. The high grade mineralization was contained within a 1.3 metre mineralized interval that returned a weighted average grade of 769.0 g/t silver and 0.15 g/t gold. Hole SA 10-11, which was located approximately 50 metres to the southeast of hole SADD-09-04A, intersected a 3.0 meter interval that returned an average of 155 g/t silver and 0.12 g/t gold.

Additional sampling of the previously reported hole SA -09-06 confirmed the high grade tenor of the Veta Natividad vein at depth, with an intersection grading 565 g/t silver and 0.26 g/t gold over a 0.35 metre core length at a down hole depth of 249.0 metres.

Highlights from the recent drilling on the Veta Grande and Veta Natividad veins includes:

• 565g/t silver and 0.26 g/t gold across 0.35 metres in hole SA 09-06 on the Veta Natividad vein;
• 220 g/t silver and 0.42 g/t gold across 1.2 metres in hole SA- 10-09, a new zone located in hanging wall on Veta Grande vein
• 144 g/t silver and 0.20 g/t gold over 1.65 m in hole SA-10-09 at a down hole depth of 382 metres
• 155g/t silver and 0.12 g/t gold over 3.0m in Hole SA-09-11 on the Veta Natividad vein, located 50m to the southeast of the discovery intercept which graded 769 g/t silver and 0.15 g/t gold over 1.3 metres.

The details of the main intervals of silver, gold, copper, lead and zinc mineralization are listed below.

• Based on core angles and previous drilling, true widths are estimated at approximately 70 to 75% of the downhole lengths

reported for holes SA09-06 and SA-10-11and approximately 55 to 60 % for hole SA-10-09.

** True width could not be determined

As part of its exploration program to target the downward extension of the Veta Grande vein system Source has re-established access on the Refugio level of the San Acacio mine. A contract for excavating an underground drill station has been awarded and a crew mobilized to carry out the work. The drill program is targeting the down dip extension of previously mined high grade oxide stopes.

Brian Robertson, President and CEO stated, “These drill results are significant because they verify that the Veta Grande vein system extends for considerable strike length at depth, with mineralization over minable widths and extending well below the historical mine workings. The exceptional strength of the vein structure at depth provides an excellent target for carrying out drilling from underground to outline potential high grade ore shoots both on strike and at depth. The continuing discovery of high grade veins and mineralized zones in close proximity to the Veta Grande vein also potentially enhances the mineability and economic potential of the deposit.”

The San Acacio property, which hosts the Veta Grande vein system, is a former silver producer located in the world renowned silver district of Zacatecas in Central Mexico. The Zacatecas Silver Belt is one of the most prolific silver producing areas in the world, hosting the Fresnillo and Zacatecas silver mines which, combined, have produced over 1.5 billion ounces of silver (Source: Western Silver Annual Report 2003).

A geological technical report prepared by B.J. Price Geological Consultants Inc. and R. Von Boeck in compliance with NI-43-101 states “Since discovery of silver in the Zacatecas mining district in 1546, it

was estimated that 180 million ounces of silver have been extracted from the Veta Grande vein complex.” The report also references a historical drilled inferred mineral resource calculated by Silver Standard in 1996 of 2,465,314 tonnes grading 182.4 g/t (5.40 oz/ton) containing 449,580.3 kilograms of silver or 14,445,000 ounces of silver. The estimate is a historical estimate and should not be relied upon because it is not NI 43 -101 compliant. Source Exploration Corp has not independently verified the resource estimate.

Mr. Sonny Bernales, P. Geo. is the Qualified Person for information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. All core was logged near the drill site at Zacatecas. One half of the sample was then shipped to SGS Mineral Services, an accredited mineral analysis laboratory (ISO/IEC 17025), at Durango, Mexico for assaying. The remaining core was placed in the core box and stored in a secure location for future reference. Assaying for silver was by three acid digest and AA finish. Assays over 300 g/t were re-assayed by lead collection fire assay with gravimetric finish on a 30 gram sample. QA/QC included the insertion of numerous standards and blanks into the sample stream at the rate of 1 per 10 samples (or 10 % of the total samples). The standard samples were sourced from a reputable laboratory in Canada.

About Source Exploration

Source Exploration Corp. (SOP; TSX-V) is a well funded Canadian based mineral exploration company focused on the evaluation, acquisition and development of economic silver deposits in Mexico. At present, Source is carrying out an aggressive exploration program on the prolific past producing San Acacio silver mine in Zacatecas, Mexico, as well as evaluating other potential silver properties for acquisition in Mexico.

For more information, please contact:

Brian Robertson, President & CEO Phone: 807-251-1816 Fax: 604-646-7359 e-mail: [email protected] Website at www.sourceexploration.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain terms or statements made that are not historical facts, such as anticipated advancement of mineral properties or programs, productions, sales of assets, exploration plans or results, costs, prices, performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to; metals price volatility, volatility of metals production, project development risks and ability to raise financing. Certain statements included in this news release constitute "forward-looking information" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.