Gold Bullion adds second drill rig at Granada Gold property

VANCOUVER, June 1 /CNW/ -

Mr. Frank J. Basa reports:

Gold Bullion Development Corp. (GBB, TSX.V) (the "Company" or "Gold Bullion") is pleased to report that a second drill rig has arrived at the Company's 100% owned Granada Gold Property, five kilometers south of Rouyn-Noranda, Quebec. Granada is situated along the prolific "Cadillac Trend" which features numerous multi-million ounce gold deposits.

The second rig, provided by Landdrill International Inc., is scheduled to commence in-fill definition drilling within the LONG Bars Zone Preliminary Block Model by tomorrow.

Landdrill's first rig has completed 11 holes (2400 metres) of a planned 20,000 metre Phase 2 program and is now headed outside the Preliminary Block Model to the LONG Bars Zone northeast discovery area near Phase 1 GR-10-17, the easternmost hole drilled to date by Gold Bullion. Drilling will progress east of GR-10-17 as GENIVAR, the Company's geological consultant, tests a number of auriferous structures contained within a wide, east-west trending zone of shearing, alteration and quartz veining.

Six of the first 11 holes were drilled into the north-dipping Preliminary Block Model structure from just north of the waste pile. The other five holes were drilled north of Pit No.2 East, three of them near GR-09-04 and two of them between GR-09-09 and GR-10-16. Assay results will be released as soon as they are available.

Mineralization is open in all directions at the nearly 5,000 hectare Granada Gold Property.

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 Gold Property near Rouyn-Noranda, Quebec, and its high grade 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.

Qualified Person

The scientific and technical information in this release was prepared under the supervision of Mr. Frank J. Basa, P.Eng., Gold Bullion's CEO and President, who is a member of the Ontario Association of Professional Engineers and a "qualified" person in accordance with National Instrument 43-101.

"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 CORPORATION

For further information: For further information: Frank J. Basa, P.Eng., President and CEO: (416) 625-2342; Roger Thomas, Director: (613) 292-2438

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GOLD BULLION DEVELOPMENT CORPORATION

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