Consolidated Gulfside Resources Ltd. Signs Letter Of Intent To Acquire Rockwell Explorations.

TORONTO -- Mr. Jack Wasserman, CEO of Consolidated Gulfside Resources Ltd. (TSX VENTURE:CGL) (the "Company") is pleased to announce that on June 10, 2004 the Company signed an arm's length, non-binding Letter of Intent to acquire a one hundred percent (100%) interest in Rockwell Exploration S. A. (Rockwell). The two parties are now working to finalize a definitive agreement that is expected to be signed within the next thirty days. The cost of the acquisition, when finalized, will be $25,000.00 cash.

Rockwell is a private energy exploration company with its head offices in Nassau, Bahamas is an energy exploration company focusing on the high quality oil and gas properties located throughout Papua New Guinea (PNG).

Rockwell does not currently own an interest in any oil and gas properties. However, it has been granted, by the Investment Promotion Authority (IPA) of the Government of Papua New Guinea, IPA certification in the country. The certification, which was granted August 19, 1997, remains in effect as long as Rockwell is in good standing with the authorities and is active in Papua New Guinea. The IPA covers all five of the sedimentary basins located throughout the country some of which have seen little or no exploration to date. This certification, which is no longer granted, gives Rockwell the right to search out areas rich in oil and gas then register those areas, as the operator, under Petroleum Prospecting Licenses.

The Company will provide the necessary funding so that Rockwell can complete its program and acquire two or three licenses. The initial cost of acquiring three licenses and registering them will be between $15,000 - $25,000 Canadian. A further $125,000 will be required to survey the area, evaluate the potential for commercial values of oil located on the licenses and prepare a synopsis of each license prior to presenting it to midsize U.S. oil companies for farm in opportunities.

Rockwell is an aggressive energy exploration company focused on the rapidly increasing energy needs of South East Asia. Their management, under the leadership of Lindsay Semple has significant experience of the area and extensive knowledge of the natural resources properties in Papau, New Guinea as well as a firm understanding of the financial potential available to companies endeavoring to develop these areas.

Wasserman states, "Consolidated Gulfside Resources Ltd., is committed to building a significant operating company and the acquisition of Rockwell will allow us access to the many natural resources of the area."

Consolidated Gulfside Resources Ltd. will now be actively engaged in seeking out and acquiring high quality oil and gas exploration properties in Papua New Guinea.

15,780,487 shares outstanding

ON BEHALF OF THE BOARD OF DIRECTORS

"Jack Wasserman"

CEO

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