yep. get plenty of protein, lift regularly and with intensity, incorporate high, medium, and low reps into you routines, focus on the compound movements, expend the most energy on these, and you will gain muscle and lose fat over time.
Like pwnisher said: never bulked. I have never bulked (and by that I mean gaining excess fat for the sake of also gaining muscle), and I've gone from 125 lbs when I was 18 (your age) to a very lean 200 in my 30's. It takes time, so be patient. It's well worth it.