Gulfside Minerals Ltd.
TSX VENTURE : GMG

Gulfside Minerals Ltd.

November 20, 2007 18:46 ET

Gulfside Minerals Arranges $7,000,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2007) - Robert L. Card, President of Gulfside Minerals Ltd. (the "Company") (TSX VENTURE:GMG), is pleased to announce that a non-brokerage private placement of 6,666,666 shares at a price of U.S.$1.05 per share to raise gross proceeds of $7,000,000.00 has been arranged with a European based global equity fund. The shares issued will be subject to a twelve month hold period from date of closing of the private placement. The Company plans to use the funds to further the development of its Mongolian properties.

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

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

The Company is also pleased to announce the appointment of Delmor Enterprises Ltd. to provide Investor Relations services to the Company. The term of the contract is for twelve months at a monthly fee of $5,000. The contract will be filed with the TSX Venture Exchange.

On behalf of the board of directors

Gulfside Minerals Ltd.

Robert L. Card, President

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.

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