Day: March 15, 2017

The net proceeds of the Offering will be used to fund the purchase of a mining concession in San Juan del Río Durango, consisting of 420 hectares covering known projections of the El Castillo mineralization and for general corporate purposes.

SOURCE EXPLORATION CORP. is pleased to announce the appointment of Mr. Brian Robertson, P.Eng., as Chairman, effective immediately. Mr. Robertson currently serves as President & CEO of the company and is also a Director.

“Although Primero faced significant challenges in 2016, we entered 2017 with renewed motivation to address these challenges and deliver meaningful returns to our shareholders,” said Mr. Joseph F. Conway, Interim President and Chief Executive Officer. “We have started by strengthening our management team in late 2016, reducing our corporate G&A and refinancing our revolving credit facility, terming out our debt to better match our asset’s cash flow profile. Our next focus is resetting the San Dimas operation and bringing the mine back to profitability so it can once again deliver on its world-class potential. We have also renewed our commitment to exploration at both of our mines in order to continue growing their reserve and resource base and fully realize on their significant mineral endowments.”