2011-12-07 09:11 ET - News Release

GOLD BULLION ANNOUNCES ADDITIONAL POSITIVE DRILL DATA

Gold Bullion Development Corp. has released additional drill results from a number of holes throughout the mineralized area of the Granada gold property. The subject property is located along the Cadillac trend in northwestern Quebec, five kilometres south of the city of Rouyn-Noranda. Nearly 80 kilometres, (78,414 metres) have been drilled since December, 2009, and in the process, Gold Bullion has confirmed extensive mineralization on the Granada property. To date, the mineralized area extends approximately 1,500 metres east-west along strike and roughly 750 metres north-south. The mineralized area does not include data from historical drilling. High-grade gold intersections continues to be discovered as evidenced by 207.27 g/t gold over 0.75 metre (by Screen Metallics) near the surface and 63.5 g/t gold over 1.0 metre (by Screen Metallics). Highlights of these subject holes follows:

• 182.95 metres grading 1.11 g/t Au in hole GR-11-271;
• 0.75 metre grading 207.27 g/t Au at only 24.55 metres (22.1 metres vertical) depth;
• 1.0 metre grading 13.71 g/t Au at 71.5 metres (64.3 metres vertical) depth 247.5 metres grading 0.47 g/t Au in hole GR-11-199;
• 1.0 metre grading 63.5 g/t Au at 60.0 metres (53.5 metres vertical) depth;
• 16.25 metres grading 1.86 g/t Au at 129.75 metres (115.6 metres vertical) depth.

Hole           From        To        Interval        Grade  
               (m)         (m)          (m)        (g/t Au)  

GR-10-138       7.50      171.50      164.00          0.38
including     116.00      171.50       55.50          0.77
including     116.00      145.50       29.50          1.15
including     116.00      125.00        9.00          2.16
GR-10-144      79.50       95.00       15.50          0.63
and           155.00      275.00      120.00          0.33
including     235.50      275.00       39.50          0.74
including     261.95      263.00        1.05         19.86
GR-10-157      16.50      244.50      228.00          0.43
including      45.50      116.50       71.00          1.06
including      45.50       70.00       24.50          2.68
including      56.50       61.00        4.50          3.75
including      69.00       70.00        1.00         44.80
GR-10-183     124.50      148.00       23.50          0.51
and           189.50      211.00       21.50          0.53
including     197.85      211.00       13.15          0.71
and           229.50      238.50        9.00          0.61
and           272.50      296.50       24.00          0.46
GR-10-187      35.50      313.50      278.00          0.38
including      98.40      120.80       22.40          1.46
including     119.70      120.80        1.10         24.70
and           200.50      265.50       65.00          0.68
including     200.50      203.80        3.30          4.06
including     240.00      265.50       25.50          1.00
and           292.50      313.50       21.00          0.48
GR-11-199       1.50      249.00      247.50          0.47
including      60.00      146.00       86.00          1.20
including      60.00       61.00        1.00         63.50
including     129.75      146.00       16.25          1.86
GR-11-259      47.00       77.00       30.00          0.42
including      47.00       50.00        3.00          1.38
GR-11-258      84.00      112.50       28.50          0.80
including     111.00      112.50        1.50          8.98
GR-11-266      29.00      145.50      116.50          0.31
including      29.00       52.00       23.00          0.74
including      38.50       47.50        9.00          1.45
including     138.00      173.50       35.50          0.31
GR-11-268     111.50      177.50       66.00          0.47
including     140.00      159.50       19.50          0.69
and           175.00      191.10       16.10          0.45
GR-11-269      68.50      166.50       98.00          0.43
including     119.00      166.50       47.50          0.62
including     141.50      152.50       11.00          1.35
GR-11-271      24.55      207.50      182.95          1.11
including      24.55       25.30        0.75        207.27
including      71.50       72.50        1.00         13.71
including     142.00      207.50       65.50          0.39
including     206.00      207.50        1.50         10.49
and           206.00      258.00       52.00          0.79
GR-11-275      51.00       76.50       25.50          0.47
and           161.00      163.00        2.00          1.29
and           228.00      249.00       21.00          0.47
GR-11-280      31.00       76.95       45.95          0.33
including      37.50       53.00       15.50          0.55
GR-11-287       3.00      183.00      180.00          0.47
including     104.00      173.50       69.50          1.05
including     110.40      111.30        0.90         30.03
including     122.50      173.50       51.00          0.79
including     122.50      123.00        0.50         38.75
including     172.60      173.50        0.90         15.79
GR-11-286     190.50      263.00       72.50          0.44
including     190.50      198.00        7.50          2.96
including     190.50      192.00        1.50         10.63
overlapping   261.50      276.00       14.50          0.39
GR-11-293      18.50      140.50      122.00          0.37
including      18.50       25.50        7.00          1.25
including      59.50       99.00       39.50          0.41
including      95.90       99.00        3.10          3.61
including     125.50      140.50       15.00          0.97
GR-11-295      17.00       92.50       75.50          0.36
including      18.00       29.50       11.50          1.12
including      78.50       92.50       14.00          0.72
GR-11-297      18.00       88.00       70.00          0.63
including      54.00       88.00       34.00          1.05
including      70.50       88.00       17.50          1.71
including      86.50       88.00        1.50          7.23

Just one of the 20 drill holes, hole (GR-11-282), did not intersect significant mineralization and was therefore omitted from the above table. The widths reported in the preceding table are drill widths. True widths are unknown at this time. All assays are uncut, length-weighted average values.

Core analysis from the above holes was conducted by ALS Chemex Labs in Val d'Or, Que., and the Accurassay Laboratory in Timmins, Ont. Gold was assayed by fire assay with additional metallics analysis done on samples where visible gold was identifiable. Quality control was further enhanced by the insertion of blind certified standard reference material and blanks into the sample stream at regular intervals by logging personnel to ensure an independent assessment and analytical accuracy.

SGS independent qualifying person, Claude Duplessis, Ing, is responsible for the preparation of the resource estimate program within the meaning of National Instrument 43-101. Mr. Duplessis has verified and approved the data disclosed in this release including the sampling procedure, analytical and test data underlying the information.

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