Have a minor oil leak in my one owner 91 155000 mile 240 automatic - first one ever. It is dripping off of the bracket that holds the exhaust just ahead of the transmission. Four bolts on the oil pan were slightly loose on the same side, and the lip of the oil pan had some oil residue..... the other side is dry and dusty. I tightened them down. Flame trap and tubes are clear. Filter and drain plug are tight and dry. Transmission bell housing was mostly dry. Hopefully this will get it. The oil pan gasket is original.

Just went for a drive, popped the hood and noticed the coolant is also slightly low, and there is rust on the side of the block just above the water pump on the passenger side toward the front of the engine. We are running at normal temp, with no coolant smell, and the oil is clean. All hoses look good, with no leaks. The water pump is original. The gasket was defective when the car was new and was replaced at about 5000 miles.

Are the two related? Is the rust normal in this spot, or might I have head gasket problems developing?

Thanks for the help!