Gulfside Minerals Ltd.

Gulfside Minerals Ltd.

July 07, 2008 12:04 ET

Gulfside Minerals Ltd.: Erdenetsogt Acquistion Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2008) - Robert L. Card, President of Gulfside Minerals Ltd., (the "Company") (TSX VENTURE:GMG), reports that the negotiations for the acquisition of the Erdenetsogt coal property are ongoing and remains hopeful they will conclude shortly. Once the negotiations have concluded and the final acquisition agreement is signed, the required documentation will be forwarded to the TSX Venture Exchange ("TSXV") for approval. The Company will issue a comprehensive news release outlining the details of the acquisition once regulatory approval has been received.

Norwest Corporation ("Norwest"), of Salt Lake City, Utah will finalize the NI 43-101 report on the Erdenetsogt coal property. Norwest has addressed the deficiencies outlined by the British Columbia Securities Commission ("BCSC") and the final submission will be made upon signing of the final acquisition agreement. The NI 43-101 will be filed on SEDAR once the BCSC has accepted the filing and the TSXV has approved the acquisition of the Erdenetsogt coal property.

The Company continues to do exploration work on its other mineral properties in Mongolia.

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 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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