GMG:TSX.V
VANCOUVER, May 4 /PRNewswire-FirstCall/ - Gulfside Minerals Ltd. ("Gulfside" or the "Company") (GMG: TSXV) is pleased to report that the Company has acquired a 100% interest in two gold and silver prospects located in the Atlin Mining Division in northwestern British Columbia (the "Claims"). (See Company's news release of March 17, 2011).
The properties, known as the Argonaut and Golden Fleece Groups, are located approximately 150 km northwest of Dease Lake, BC and 120 km south of Atlin, BC. The Argonaut property is composed of five claims totaling 1924.7 Ha, and lies approximately 11km east of the Bryer Group. The Golden Fleece property is composed of two claims totaling 829.9 Ha, and lies approximately 9km south west of the Argonaut Group. The Company acquired the claims for the payment of $5,000 and a one percent NSR royalty to the vendor.
The claims surround the Thorn group (Brixton Metals (BBB) and the Inlaw/Trapper Lake group (Ocean Park Ventures (OCP) and are on trend approximately 70 km from the former Golden Bear mine and mine access road which was developed by Chevron Minerals of Canada.
On the Golden Fleece property, a previously discovered gold showing with assays, shows up as an alteration zone in Google earth. Recent receding of the glaciers has displayed another alteration zone, in the form of a gold-bearing quartz vein. Both zones will be explored this summer. In 2005, Barrick Gold explored the property and took a rock sample measuring 1.02 g/t Au 4.0 g/t Ag.
Alex Burton, P. Eng. P. Geo., a Qualified Person as defined by National Instruments 43-101, has read and approved the technical information in 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.
SOURCE Gulfside Minerals Ltd.
