Gold Bullion announces additional positive drill data update

VANCOUVER, June 19, 2012 /PRNewswire/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to announce additional drill results from several holes located throughout the mineralized area of the Granada Gold Property. The subject property is located along the prolific Cadillac trend in northwestern Quebec, 5 km south of the city of Rouyn-Noranda.

Of the 17 holes, 14 reported significant gold mineralization with hole GR-11-389 at 0.53 g/t Au over 95.0 metres from 72.0 metres to 167.0 metres confirming continuity of the mineralized package near surface inclusive of three discrete higher-grade zones. Hole GR-11-389 was drilled in the Southeast direction to confirm mineralization and assist in the exact positioning of the NNE fault displacing the mineralized blocks between sections.

These assay results are from the 2011 drill program and continue to demonstrate low-grade, high tonnage, near surface intersections while confirming specific high-grade zone at depth with thickness and grade suitable for underground mining.

Highlights include GR-11-260 with 4.87 g/t Au over 3.89 metres at depth while near surface hole GR-11-272 reported 0.39 g/t Au over 129.0 metres from 112.0 metres to 241.0 metres. Gold Bullion's CEO Frank Basa is very encouraged by results that consistently demonstrate the presence of widespread significant gold mineralization on the Granada property. Further details on the mineralized holes inclusive of substantive drill data are summarized in the table below.

Hole From (m) To (m) Length(m) Au g/t
GR-11-260 382.50 386.39 3.89 4.87
GR-11-272 112.00 241.00 129.00 0.39
including 112.00 135.00 23.00 0.89
including 112.00 115.00 3.00 4.64
including 171.00 178.50 7.50 0.56
including 199.50 241.00 41.50 0.53
including 204.00 223.50 19.50 0.81
GR-11-274 58.00 63.50 5.50 0.54
GR-11-276 133.50 166.50 33.00 0.40
including 133.50 139.50 6.00 1.43
GR-11-298 171.50 253.50 82.00 0.59
including 205.50 223.50 18.00 1.03
including 241.50 253.50 12.00 1.67
GR-11-298 336.00 339.50 3.50 4.01
GR-11-304 177.00 217.50 40.50 0.45
including 177.00 181.50 4.50 0.73
including 213.00 217.50 4.50 2.97
GR-11-355 23.50 31.47 7.97 0.82
GR-11-355 90.10 123.50 33.40 0.56
including 114.00 122.00 8.00 1.75
GR-11-356 6.00 51.00 45.00 0.31
including 6.00 15.50 9.50 0.54
including 34.60 51.00 16.40 0.40
GR-11-356 102.00 111.20 9.20 0.59
GR-11-365 54.50 73.00 18.50 0.63
including 54.50 66.00 11.50 0.91
GR-11-365 140.00 154.00 14.00 0.54
GR-11-366 45.00 58.50 13.50 0.34
GR-11-366 144.50 223.50 79.00 0.58
including 155.50 180.00 24.50 0.81
including 168.00 180.00 12.00 1.28
GR-11-366 193.00 213.00 20.00 0.95
including 202.00 213.00 11.00 1.34
GR-11-371 53.00 60.00 7.00 0.39
GR-11-373 272.50 320.60 48.10 0.47
including 272.50 278.00 5.50 1.71
including 314.00 319.20 5.20 1.70
GR-11-374 192.00 216.00 24.00 1.14
including 199.50 205.15 5.65 4.08
GR-11-389 72.00 167.00 95.00 0.53
including 120.00 148.00 28.00 1.21
including 136.00 148.00 12.00 2.38
including 142.00 148.00 6.00 4.39

Only three holes, GR-11-364, GR-11-251 and E-11-06 did not cut significant mineralization as follows: GR-11-364 was northwest and too short to intersect the zone while both GR-11-251 and E-11-06 were intended to test the Eastern extension and may not have been suitably located to cut the zones due to the NE shift of mineralized blocks caused by the NNE Faults.

Additional assay results are pending and will be released as they become available.

Claude Duplessis, Eng. is acting as the qualified person (QP) for Gold Bullion Development Corp. in compliance with National Instrument 43-101 and has reviewed the technical contents of this press release.

Investor Relations Agreement Terminated

The Company also announces it has provided 30 days' notice to terminate, effective July 15, 2012, the Investor Relations Agreement dated September 10, 2009 wherein Progressive IR Consultants Corp. of Vancouver, British Columbia, was engaged to provide investor relations services to the Company.

About Gold Bullion Development Corp.

Gold Bullion Development Corp. is a TSX Venture-listed junior natural resource company focusing on the exploration and development of its Granada Property near Rouyn-Noranda, Québec.  Additional information on the company's Granada gold property is available by visiting their website at www.GoldBullionDevelopmentCorp.com and on SEDAR.com.

"Frank J. Basa"

Frank J. Basa, P.Eng.
President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

 

SOURCE Gold Bullion Development Corp.



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