VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: GMG), is pleased to announce that a non-brokered private placement of 7,518,797 shares at a price of $1.33 per share to raise gross proceeds of $10,000,000 has been arranged. The proceeds of the financing will be used for the acquisition and exploration of its coal property in Mongolia, as previously announced on March 14, 2008, and for general working capital. The closing of the private placement is subject to the approval of its coal property acquisition by the TSX Venture Exchange. The shares issued will be subject to a four month hold period from date of closing of the private placement.

The private placement has been arranged with a group of European Investors.

A finder's fee is payable in connection with this placement

The Company also reports it will proceed to close the private placement announced on November 20, 2007 for proceeds of $7,000,000. The proceeds of this financing will be used for the exploration and development of its coal property, exploration of its mineral properties in Mongolia and general working capital.

The offering and finder's fee are subject to completion and execution of appropriate documentation and acceptance for filing by the TSX Venture Exchange.

On behalf of the board of directors Gulfside Minerals Ltd.

Robert L. Card, President

Investor Contact:

Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning GMG's planned exploration program in Mongolia and other statements that are not historical facts. When used in this document, the words such as "could", "plan", "estimate", "expect", "intend", "may", "potential", "should", and similar expressions are forward-looking statements. Although GMG believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk Factors" and elsewhere in the corporation's periodic filings with Canadian securities regulators.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release.

Contacts: Gulfside Minerals Ltd. Del Thachuk (604) 538-5995 Website: www.gulfsideminerals.com or www.gulfsideminerals.de

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