Gold Bullion Provides Update on its Phase 3 Drill Program

VANCOUVER, Sept. 14, 2011 /CNW/ - Frank Basa reports:

Gold Bullion Development Corp. (TSXV: GBB, OTC PINK: GBBFF) ("Gold Bullion") is pleased to announce additional drill results from its Granada Property, located along the Cadillac trend in Northwestern Quebec, 5 km south of the city of Rouyn-Noranda.  The continually-expanding mineralized area remains open in all directions and at depth.   Highlights of the most recent assay results include:

Hole GR-11-256 - 98.00 metres grading 1.21 grams per tonne Au
    Including -  29.50 metres grading 2.34 grams per tonne Au
     
Hole GR-10-189 - 220.30 metres grading 0.41 grams per tonne Au
    Including -  70.90 metres grading 1.06 grams per tonne Au
     
Hole GR-10-178 -  183.50 metres grading 0.50 grams per tonne Au
    Including - 45.50 metres grading 1.12 grams per tonne Au

Drilling at the Granada Property continues with 2 drill rigs on a 24 hours a day/7 days a week schedule, The present mineralized zone now covers an area of 1.2 kilometres along strike and is up to 0.5 kilometres wide.

The following table highlights significant intervals, calculated by Gold Bullion, in the most recent results received:

HOLE  FROM  TO  INTERVAL   GRADE 
         
GR-10-103 85.15 255.5 170.35 0.33
including 131.05 210.5 79.45 0.5
         
GR-10-121 82 281 199 0.31
including 82 83 1 11.78
and including 247.5 281 33.5 0.64
         
GR-10-125 61.5 179.5 118 0.43
including 61.5 91.5 30 0.57
and including 177.85 219 41.15 0.59
including 177.85   178.75 0.9 15.45
         
GR-10-128 3 116.5 113.5 0.55
including 55.5 116.5 61 0.81
including 60 61.5 1.5 15.7
         
GR-10-140 160.05 234.5 74.45 0.34
including 160.05 170 9.95 0.55
and including 207.35 234.5 27.15 0.53
         
GR-10-146 27 129 102 0.31
including 60 129 69 0.41
         
GR-10-148 3 227.5 224.5 0.4
including 26.7 73.5 46.8 0.85
and including 170.5 227.5 57 0.52
including 226.75 227.5 0.75 17.72
         
GR-10-150 23.5 112.5 89 0.35
including 84 112.5 28.5 0.84
including 111 112.5 1.5 14
         
GR-10-152 22.5 138.5 116 0.42
including 22.5 85 62.5 0.64
including 40 41.5 1.5 9.7
         
GR-10-154 15.5 206 190.5 0.36
including 150.8 199 48.2 0.64
including 198 199 1 16.6
         
GR-10-155 10.5 69 58.5 0.45
including 10.5 36 25.5 0.79
         
GR-10-178 193 376.5 183.5 0.5
including 228 273.5 45.5 1.12
including 229 230 1 40.1
         
GR-10-180 37 91.4 54.4 0.35
including 37 52 15 0.84
         
GR-10-182 122.9 191 68.1 0.44
including 122.9 155 32.1 0.75
including 122.9 124 1.1 12
         
GR-10-189 49 269.3 220.3 0.41
including 99.5 170.4 70.9 1.06
including 99.5 101 1.5 41.9
         
GR-11-198 62 216 154 0.31
including 62 139.9 77.9 0.44
including 73 74 1 13.4
         
GR-11-201 99 241 142 0.31
including 183.5 241 57.5 0.55
including 240.5 241 0.5 24.3
         
GR-11-216 1.5 57.6 56.1 0.56
including 28.5 57 28.5 1.06
including 37.5 39 1.5 8.18
and including 42 43.5 1.5 7.12
         
GR-11-231 41.4 62 20.6 0.47
and 89.25 227 137.75 0.31
including 174.5 227 52.5 0.52
including 210 227 17 1.12
including 215 216.35 1.35 7.99
         
GR-11-239 58.1 239 180.9 0.47
including 67.2 67.7 0.5 53.11
and including 236 237.15 1.15 14.57
         
GR-11-248 58 115.5 57.5 0.4
including 81.7 108 26.3 0.69
         
GR-11-250 165 262.5 97.5 0.41
including 160.5 187.5 27 0.85
and including 242 262.5 20.5 0.75
including 262 262.5 0.5 24.6
         
GR-11-255 42.5 151.5 109 0.35
including 42.5 101.5 59 0.52
including 56 57 1 10.07
         
GR-11-256 75 173 98 1.21
including 75 75.5 0.5 30.3
and including 81 82 1 12.55
and including 139 168.5 29.5 2.34
including 151.5 153 1.5 12.26
and including 168 168.5 0.5 74.16

The following 4 holes did not have significant intervals and are therefore not included in the above table: GR-10-57, GR-10-135, GR-10-158 and GR-11-222.

Widths reported in the preceding table are drill widths; true widths are unknown at this time. Assays are uncut, length-weighted average values. Lost core within mineralized intersections were incorporated as blank intervals and assigned a 0.0 g/t grade in all length-weighted calculations.

Gold Bullion's NQ drill program and drill core sampling, including the quality assurance/quality control program, are supervised by Ms. Nicole Rioux, P. Geo. of GENIVAR, Gold Bullion's geological consultant. Nicole Rioux is GENIVAR's senior geologist and a member of the Ordre des géologues du Québec and a "qualified" person in accordance with National Instrument 43-101.

Core from the above holes was sent to ALS Chemex Labs in Val d'Or, Quebec, and Accurassay Laboratory in Timmins, Ontario, for analysis. Gold was assayed by fire assay with additional pulp and metallics analysis done on samples where visible gold was identified. Analytical accuracy and precision are monitored by the analysis of reagent blanks and reference materials at both labs. Quality control is further assured by the insertion of blind certified standard reference material and blanks into the sample stream at regular intervals by Gold Bullion and GENIVAR personnel in order to independently assess analytical accuracy.

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, and its Castle Silver Mine in Gowganda, Ontario.

For more information on Gold Bullion Development Corp. (TSX-V: GBB, OTC PK: GBBFF), visit our web site: http://www.GoldBullionDevelopmentCorp.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.

For further information:

Frank J. Basa, P.Eng., President and CEO: 1-416-625-2342
Roger Thomas, Director: 1-613-292-2438

Progressive Investor Relations (Canada) Tel (604) 689-2881 or email info@progressive-ir.com
Torrey Hills Capital (United States) Tel (858) 456-7300

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Gold Bullion Development Corp.

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