Source Energy Services Comments on Trading Activity

Calgary, Alberta (October 14, 2021) TSX: SHLE

Source Energy Services Ltd. (“Source” or the “Company”) is issuing this press release in response to a request from the Investment Industry Regulatory Organization of Canada (“IIROC”) to comment on the recent trading activity of its stock.

Source is not aware of any material, undisclosed information related to the Company's operations and affairs that would account for the recent increase in the market price and level of trading volume of its shares.

EARNINGS RELEASE AND CONFERENCE CALL

As previously released, Source’s third quarter financial results for the period ending September 30, 2021, will be released following the Toronto Stock Exchange market close on Thursday, November 4, 2021. A conference call has been scheduled for 7:30 am (Calgary time) on Friday, November 5, 2021.

ABOUT SOURCE ENERGY SERVICES

Source is a company that focuses on the production and distribution of high quality Northern White frac sand, as well as the distribution of other bulk completion materials not produced by Source. Source provides its customers with an end-to-end solution for frac sand supported by its Wisconsin mines and processing facilities, its Western Canadian terminal network, its “last mile” logistics capabilities and Sahara, a proprietary wellsite mobile sand storage and handling system.

Source’s full-service approach allows customers to rely on its logistics platform to increase reliability of supply and to ensure the timely delivery of frac sand and other bulk completion materials at the wellsite.