Gulfside Minerals Ltd. - Additional Licenses Acquired

VANCOUVER, February 5 - Robert L. Card, President of Gulfside Minerals Ltd., ("Gulfside" or
the "Company") (TSXV: GMG), is pleased to report that the Company has
signed two Letters of Intent ("LOI") to acquire additional Licenses
comprising 10,319 hectares (25,499 acres) adjoining its Onjuul and Black
Hole projects to the north and north east which are located 170 km south
west of Ulaanbaatar in Mongolia. The agreements call for payments in cash
and shares over a 27 month period and are subject to TSX Venture Exchange
("TSX") approval.

Gulfside has engaged Norwest Corp., of Salt Lake City Utah ("Norwest
"), to oversee the exploration of the Onjuul and Black Hole projects.
Initial indications from the first phase of the drilling program suggest
the coal bearing structure trends north and east into the licenses covered
under the LOI's.

Phase 2 of the drilling program is scheduled to resume this spring
with a goal to confirm and expand the current historical resource as well
as step out into the newly acquired licenses.

The table below summarizes four of the closest holes to the proposed
property. The total coal in all drill holes from the first phase of the
drill program range from 16.50 meters to 57.70 meters and the thickest
seams range from 8.10 meters to 42.40 meters. These results were reported
on a news release dated December 22, 2009.

The Company is also pleased to report that the vendors of the Black
Hole project has agreed to a modification of terms of acquisition by
reducing and extending the terms of cash payments and have demonstrated
their faith in the project by accepting Company shares for partial payments
. The amended agreement is subject to approval by the TSX. After
arriving back from Mongolia on February 1, 2010 Gulfside President, Robert
Card said, "I believe that these new licenses provide an opportunity to
expand our resource base in the region." Kerry F. Griffin BSc.,
Diploma Eng Geol, MAIG, an independent consultant to the Company and the
qualified person as defined by National Instrument 43-101, has reviewed and
approved the technical content of this news release.

    -------------------------------------------------------------------------
                             Meters from              Thickest  Thickest Seam
             Identification   proposed    Total Coal    Seam      Interval
    Number       Number       property     (Meters)   (Meters)    (Meters)
    -------------------------------------------------------------------------
      2        NJ-09-23C         200        52.66       28.84    37.6-66.44
    -------------------------------------------------------------------------
      3        NJ-09-24C         500        34.36       12.10    26.8-38.9
    -------------------------------------------------------------------------
      4        NJ-09-25R         300        28.17       10.37    85.83-96.2
    -------------------------------------------------------------------------
      9        NJ-09-31R         500        57.70       42.40    62.7-105.1
    -------------------------------------------------------------------------

On behalf of the Board of Directors Gulfside Minerals Ltd.

"Robert L. Card"

Robert L. Card President

"Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."

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.

For further information: Investor Contact: Del Thachuk, Delmor
Enterprises Ltd., +1(604)538-5995, Delthachuk@shaw.ca,
www.gulfsideminerals.com/

For further information: Investor Contact: Del Thachuk, Delmor Enterprises Ltd., +1(604)538-5995, Delthachuk at shaw.ca