GOLD BULLION PROVIDES PRE-FEASIBILITY STUDY UPDATE

Gold Bullion Development Corp. has mandated SGS Geostat to review several options, including the capacity of local milling alternatives, in addition to on-site milling at the Granada property. Due to general market conditions, local excess milling capacity may now be available that will allow the company to more efficiently process mineralized material from Granada. Testwork is currently under way to evaluate the suitability and efficiency of various custom milling circuits. In addition to the open-pit scenario previously referred to in the company's press release dated Nov. 13, 2013, the company has mandated SGS to review the underground-mineralized material to be processed during the rolling start phase of the Granada gold mine property development. To date, the associated mining costs were determined based on using a primary mining contractor with blasting activities subcontracted. The costs anticipated at this stage are in line and consistent with previous company expectations.

Due to these additional mandates, SGS has informed Gold Bullion management that the revised prefeasibility study will most likely be completed early in the second quarter of 2014. In the interim, an extensive community communication program will be launched in January, 2014. Several meetings have been scheduled for the region surrounding the Granada mine site to ensure the extremely high environmental standards in the plan are clearly understood by local residents.

Claude Duplessis, PEng, a consultant for SGS Geostat, is acting as the qualified person for Gold Bullion Development in compliance with National Instrument 43-101 and has reviewed the technical contents of this press release.

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