leak in the heads...?

i've been looking at the '96 GT vert top to bottom trying to figure out why im getting bad gas milage.(13.25 mgp all city conservative driving) everything seems to be ok, but recently ive also been having problems with the coolant light. it will go on for a minute or two here and there, and i go and check the level and it seems kind of low so i put some water in. i jacked the car up and looked by the heads. i see some blotchy spots of liquid around the heads. i have no idea if this is coolant or what? i would like to know if anyone knows the problem and if this could be the reason for poor gas milage.
 
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