Source location is one of the most valuable features of the microseismic technique due to its ability to delineate the unstable areas. In this paper, the precise formulas of the station residual and event residual are derived for the L1 norm statistical standard and the L2 norm statistical standard based on the residual analysis. Then, the error space for microseismic source location is proposed and analyzed. Based on the above research, a nonlinear microseismic source location method using the Simplex method is developed. This new method can search the microseismic source directly in the error space through four deformations of the simplex figures, and it is able to make use of both P-wave and S-wave velocities. Finally, the performance of the Simplex microseismic source location method is tested and verified by laboratory experiments. Test results show that the Simplex microseismic source location method can improve the accuracy and stability of the source location greatly when P-wave and S-wave velocities are involved simultaneously and correctly. The results also demonstrate that the L1 norm statistical standard always provides more accurate and reliable solutions than the L2 norm statistical standard when there are some major but isolated errors in the input data. However, none of the optimization methods are able to function when the errors in the input data are systematic and extreme, which indicates that an early detection and correction of these errors is of primary importance for microseismic source location.