Should I be able to see an exhaust leak?

So I've got what sounds like an exhaust leak coming from the rear driver's side of my engine. It's a little more "airy" sounding than just a lifter tap, so I think that the header is leaking. When I checked the bolts, the last one was loose, 1/2 to 1 full turns loose. First off, would this be the cause of a header leak? Second, can I just tighten it back up and be good? I tried tightening the bolt, but it didn't seem to fix it. I've started to notice that the header gasket around that area is changing color. Could this be a result of the leak? I've attached a pic to show what I'm talking about. Any help is appreciated as always.
 
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Yea, it's leaking. I'll bet that 9/16" headed bolt is too long and is bottomed out before it applies any pressure on the header flange. If you really want to see the leak, take the aircleaner off, and while running it at a fast idle, slowly pour some automatic trans fluid into the carb throat. Then look for the smoke.
 
I thought it was strange that the end bolt was different. I'll pull it out as well as the one next to it and compare sizes. Unfortunately I don't have any ATF to test it out, but at least I can tell where the leak is. Can I get a new bolt and reuse the old gasket, or do I need a new gasket once the seal has been broken?
 
Try a shorter bolt then see if the leak stops. The gasket doesn't look too bad, I don't think it's bad enough to change from it's looks. If it was a jet black instead of that light brown color, then it would possibly need to be changed. Try the bolt first, and see if the leak stops. Most of the big chain parts houses sell header bolts in packs. (Advance, Auto Zone, O'Reilly's etc.)