Well HomeSlice...you can hold out....maybe. No one can give you a definate answer. It's typically a LIM, and it sounds like you have confirmation of it being the LIM gasket.
I have not done a write up on it. The basics are
DRain coolant
Disconnect neg battery cable
Remove altnernator
Remove fuel rail
Remove UIM and TB
Remove 12 bolts from LIM... there are two that will be hidden below the pool of oil in the front driverside and rear passenger side of the LIM. INSIDE of it actually.
Clean surfaces
Read these both to understand why I recommend plugging the coolant ports.
http://www.grandprixforums.net/97-03...ure-60667.html
http://www.grandprixforums.net/how-mod-lim-46931.html
I would suggest plugging the coolant ports only. You could open up the end u bend if you wanted.
Replace gasket with some RTV in the corners where the rubber gasket meets the metal gasket.
Use a sealant on your LIM bolts (A teflon based works well)
Torque LIM bolts to 15ft lbs
Put UIM back on and torque to 87 inch lbs watching the plastic as you tighten. If it turns white and starts to break, that bolt is tight enough.
Clean TB with TB cleaner
Reattach TB
Put fuel rail back on
Put alt back on.
Fill and burp cooling system
If you lost water into the engine, drain oil. If not..start and run for a moment , then check the oil. If milky.. change oil.