April 19, 2010 (FinancialWire) — Gulfside Minerals Ltd., (TSX Venture: GMG) said it has signed final earn-in agreements with two private Mongolian companies to acquire 100% interest in two mining exploration licenses which are located to the north and north east of its Black Hole and Onjuul projects and around 170 km south west of Ulaanbaatar in Mongolia.

According to Gulfside, the two additional licenses add 10,319 hectares acres to the company's holdings, which increases the size from 2,156 ha to 12,475 ha.

The company claims that initial indications from its first phase drilling program suggest the coal bearing structure trends north and north east into the licenses covered under the EIA.

To acquire its 100% interest Gulfside, over an extended period of time, will be paying a combination of cash and common shares. The acquisition is subject to approval by the TSX Venture Exchange and completion of financing to provide ongoing funds.

Canada-based Gulfside Minerals is focused on generating shareholder value through the exploration and development of coal licenses in Mongolia.

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