Gulfside Minerals Ltd. - Onjuul Drilling Update

TSX.V - GMG

VANCOUVER, December 17 - Robert L. Card, President of Gulfside Minerals Ltd. ("Gulfside" or
the "Company"), is pleased to report four additional holes of Gulfside's
drilling program on the Onjuul coal project in Mongolia have been completed.

The results of the first four holes were reported in news releases on
November 24, 2009 and December 7, 2009.

The fifth hole, NJ-09-26C cored to depth of 192.5 meters and encountered
a 10.4 meter seam between 174.4 and 184.8 meters; other thinner, but
significant seams were also encountered. Seam intercepts are as follows:

               Gulfside Hole No. NJ-09-26C(x)
               ----------------------------------------------------
               Coal Intercept (m)
               ----------------------------------------------------
                    Top          Base     Thickness      Seam ID(x)
               ----------------------------------------------------
                   35.5          43.0        7.5            2U
               ----------------------------------------------------
                   79.1          81.5        2.4            2L
               ----------------------------------------------------
                  115.0         122.2        7.2             3
               ----------------------------------------------------
                  174.4         184.8       10.4             4
               ----------------------------------------------------
                  Total         192.5       27.5
               ---------------------------------------------------- 

    (x) Seam intercepts and correlations are preliminary, pending
        geophysical log interpretation

The sixth hole was drilled to a depth of 113.2 meters before losing
circulation and was abandoned. No coal seams were apparent.

The seventh hole, NJ-09-28C, was drilled to a depth of 51.5 meters before
running into technical problems. This hole was abandoned and re-drilled as a
rotary hole to a depth of 186.0 and encountered a 28.80 meter seam between
33.4 meters and 62.14 meters. Seam intercepts are as follows:

               Gulfside Hole No. NJ-09-30R(x)
               ----------------------------------------------------
               Coal Intercept (m)
               ----------------------------------------------------
                    Top          Base     Thickness      Seam ID(x)
               ----------------------------------------------------
                   33.4          62.2        28.8            2U
               ----------------------------------------------------
                   65.3          66.4         1.1            2L
               ----------------------------------------------------
                   76.0          76.7         0.7            2L
               ----------------------------------------------------
                   88.0          91.0         3.0            2L
               ----------------------------------------------------
                  118.8         122.5         3.7             3
               ----------------------------------------------------
                  129.5         131.3         1.8             3
               ----------------------------------------------------
                  136.2         138.3         2.1             3
               ----------------------------------------------------
                  Total         186.0        41.2
               ----------------------------------------------------
    (x) Seam intercepts and correlations are preliminary, pending geophysical
        log interpretation

The eighth hole, No. NJ-09-29C was drilled to a depth of 233.2 meters and
encountered a 12.3 meter seam between 42.1 meters and 54.4 meters. The hole
was positioned as an offset to Hole No.14 of the 1973 Russian/Mongolian
exploration program.

               HISTORIC                      ONJUUL - 2009
    -------------------------------------------------------------------------
                          Coal Intercept Comparison
    -------------------------------------------------------------------------
         Historic Hole  No. 14       Gulfside Hole No. NJ-09-29C(x)
    ----------------------------------------------------------------
                        Thickness                      Thickness       Seam
       Top       Base      (m)        Top       Base      (m)          ID(x)
    -------------------------------------------------------------------------
                            0         7.5        9.0      1.5
    -------------------------------------------------------------------------
                                     10.4       11.2      0.8
    -------------------------------------------------------------------------
        30       41.5     11.5       42.1       54.4     12.3           2U
    -------------------------------------------------------------------------
        47       50.5      3.5       61.0       63.2      2.2           2L
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
           Total Depth 61.2m         Total Depth 233.2m
    -------------------------------------------------------------------------
    Total Coal  (Meters)    15                (Meters)   16.8
    -------------------------------------------------------------------------
    (x) Seam intercepts and correlations are preliminary, pending geophysical
        log interpretation

The core has been logged, boxed and ready for testing at the Stewart
Mongolia LLC laboratory in Ulaanbaatar.

Once additional drilling has been completed and laboratory results
analyzed, the Company will be in the position to further evaluate the
viability of the coal project for a coal liquefaction project. Independent
geological and engineering studies will be required to determine if this
potential use is technically and economically viable.

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.

    On Behalf of the Board of Directors,
    Gulfside Minerals Ltd.
    "Robert L. Card"
    Robert L. Card
    President

"Neither 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, www.gulfsideminerals.com