VANCOUVER, May 18, 2012 /CNW/ - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") is pleased to provide an independent NI 43-101 Technical Report. prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), on its Granada Gold Property, located along the prolific Cadillac trend in North-western Quebec, 5 km south of the city of Rouyn-Noranda.
The Technical Report, entitled "Granada Gold Project Resource Estimate, Rouyn-Noranda, Abitibi, QC", dated May 17, 2012 with an effective date of April 2, 2012, was prepared by SGS Canada Inc. and authored by Claude Duplessis, P.Eng., and Gilbert Rousseau, P.Eng., Qualified Persons as defined by NI 43-101 and Karina Sarabia, GIT and Jonathan Gagné, P.Eng.. The Technical Report is available through the Internet under the Company's profile on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com and on the Company's website at www.goldbulliondevelopmentcorp.com.
At this time the exploration potential is open since only a small area has been explored with drilling by Gold Bullion. However, assuming that the geological controls observed at the Granada property are similar in size and grade to the other mineralized veins and the known mineralization, there is every reason to believe that the area of potential mineralization at the Granada property is large. In summary, SGS Canada Inc. considers that the proposed program for further exploration on the Granada project by Gold Bullion is both warranted and justified as the potential for the discovery of additional resources is good.
Recommendations include: exploration drilling at depth, north of existing drilling to validate extension of the mineralized package at depth; substantial additional drilling to improve resource estimates in the conceptual open pit area and extension; drilling to the west, to the north and to the east on a 40 to 50m grid of surface holes drilling southward at 55 degrees dip; and a few infill holes where gaps exist along with 3 cross sections of 3 holes on 100m line to tests mineralization behind existing artificial footwall.
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. Additional information on the Company's Granada gold property is available by visiting their website at www.GoldBullionDevelopmentCorp.com and on SEDAR.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.
For further information:
Frank J. Basa, P.Eng., President and CEO at 1-514-397-4000 or
Progressive Investor Relations (Canada) at (604) 689-2881 or via email: firstname.lastname@example.org