Mr. Frank Basa reports

GOLD BULLION ANNOUNCES MAXIMUM $4.4 MILLION PRIVATE PLACEMENT

Gold Bullion Development Corp. has entered into an engagement letter with Industrial Alliance Securities Inc. for a best-efforts private placement of "flow-through" shares and units in a maximum amount of $4.4 million. In the private placement, Gold Bullion will issue a maximum of 6,557,377 "flow-through" shares at a price of
.61 per share, for maximum gross proceeds to Gold Bullion of $4 million. Gold Bullion will use the proceeds from the issuance of the flow-through shares for exploration on its properties in Québec. Gold Bullion will also issue a maximum of 784,313 units at a price of
.51 per unit, for maximum gross proceeds to Gold Bullion of $400,000. Each unit will be comprised of one common share and one-half of a common share purchase warrant. Each full warrant will entitle its holder to acquire one additional common share of Gold Bullion at a price of
.69 for twelve months.