GDSM News Gold Coast Mining Executes LOI to Pur

BOCA RATON, Fla., Sept. 27, 2012 /PRNewswire/ -- Gold Coast Mining Corp. (OTC: GDSM) ("Gold Coast" or the "Company") announced today that the Company has executed the Letter of Interest ("LOI") to pursue a merger with International Gold Mining Reserve Corp. ("IGMR"). As previously announced, the Company received an unsolicited LOI from IGMR for a potential merger between the two companies combining properties, resources and management.

After initial due diligence review of the resources the merger with IGMR would bring, management felt it was in the Company's best interest to pursue this merger. The synergies, resources and key mining relationships that IGMR has to offer to Gold Coast is the right fit for the Company's goals for the future.

With the execution by both parties of the LOI, the first meeting between the two companies has been scheduled for next Tuesday, October 2nd in Orlando, Florida. The purpose of this first meeting is to lay the groundwork for the final Definitive Agreement. As a result of the current environment in the precious metals space, the companies have agreed to move through this process as expeditiously as possible.

Marc Lovito, President of Gold Coast Mining Corp., stated "We have taken the initial steps necessary to pursue this merger with IGMR. At the same time, we remain fully committed to our current partners and investors. We view this opportunity as a chance to further enhance these relationships through the added synergies and resources IGMR management is capable of adding to this combination."