VANCOUVER,
May 18, 2012 /PRNewswire/ - 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.
SOURCE Gold Bullion Development Corp.