This fountain of life or the well of life is symbolic of a number of things.
“The mouth of the righteous is a well of life, but violence covers the mouth of the wicked” (Proverbs 10.11).
“The words of the righteous” are a well of life as cited in the Scripture above. When a believer speaks in love and truth his words are a spiritual fountain of life. Christians are encouraged to speak to one another in psalms, hymns and spiritual songs (Ephesians 5.19), to speak to each other frequently (Malachi 3.16) and to consider how to stimulate each other to love and good works (Hebrews 10.24-25).
The law of the wise is also a fountain of life. That law of the wise is the Bible. Through careful study, memorization and meditation on the Scriptures (Psalm 1.2-3; 119.11) a Christian can avoid the snares of life. The fountain of wisdom is another name for the Bible. All wisdom comes from God and it is found in His Word. If you want wisdom study the Bible as much and as often as possible and ask God to give you His wisdom (James 1.5).
“The fear of the LORD is a fountain of life, to turn one away from the snares of death” (Proverbs 14:27).
Reverence of the Lord (also translated “fear of God”) is a fountain of life. To revere God one obeys Him. He obeys the moral laws found in the Bible, prays throughout each day (1 Thessalonians 5.17), reads, studies, memorizes and meditates on Scripture daily (Deuteronomy 17.19; Revelation 1.3; Acts 17.11; 2 Timothy 2.15; Psalm 119.11; Psalm 1.2), fellowships with the brethren (Hebrews 10.24-25) and shares the gospel as the SPIRIT leads (1 Peter 3.15). As one does this he will avoid the snares of death.
The “Fountain of Living Waters” is also a reference to the HOLY SPIRIT who dwells within all believers. He was available to believers of the Old Testament dispensation (Jeremiah 2.13; 17.13). He would come and go to enable certain individuals to perform certain tasks. Examples are found in the lives of David (Psalm 51.11), John the Baptist (Luke 1.80) and Simeon (Luke 2.25-32). In the New Testament dispensation the HOLY SPIRIT is given to all believers in Jesus the Messiah (1 Corinthians 3.16; 6.19; 2 Corinthians 6.16; Ephesians 2.21; James 4.5) and He is referred to by God as a “fountain of water springing up to eternal life” (John 4.14) and “rivers of living water” (John 7.38-39).
An angel told John that those who died for their faith during the Tribulation would have the privilege of drinking from the “Living Fountains of Waters” (Revelation 7.17). It is also called the “River of the Water of Life” (Revelation 22.1). The promise of being able to drink from the “Water of Life” is also given in the fifth to the last verse in the Bible (Revelation 22.17).
The “fountain of living waters” is also a reference to God (Jeremiah 2.13; 7.13). The use of this to refer to the HOLY SPIRIT is just one of dozens of proofs that the HOLY SPIRIT is a member of the Trinity and not just a force.