Gulfside Minerals Arranges $10,000,000 Private Placement

VANCOUVER, BRITISH COLUMBIA, Mar 31 (MARKET WIRE) --
Robert L. Card, President of Gulfside Minerals Ltd. (the "Company") (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.

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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