Mr. Frank Basa reports

GOLD BULLION HOLDS 2012 ANNUAL GENERAL MEETING OF SHAREHOLDERS

Gold Bullion Development Corp. held its 2012 annual general and special meeting of shareholders on Thursday, April 12, 2012.

The following individuals were re-elected directors of the company: Frank Basa, Roger Thomas, Jacques Monette and Ronald Goguen. Shareholders also approved the reappointment of Bratt Fremeth Star SENC as auditors of the company. Continuation of the company's 10-per-cent rolling stock option plan and the adoption of a shareholder rights plan were also ratified and approved. Immediately after adjournment of the AGM, the board of directors reappointed the following as officers of the company: Frank Basa, chairman, president and chief executive officer; Thomas Devlin, chief financial officer; Roger Thomas, secretary. The board of directors also appointed Annemette Jorgensen to the board. Ms. Jorgensen has been with the company since February, 2010, in the role of corporate development. She brings a wealth of experience to the board, including mining media, public company corporate development, finance, public relations and investor relations. Mr. Basa, Mr. Monette and Mr. Goguen were appointed members of the audit committee for the ensuing year with Mr. Basa as chairman. The shareholder voting was overwhelmingly positive in support of the current management, continuation of the exploration program and the company direction. Shareholders voted over 95 per cent in favour (with management) across all voting categories. The last half of the AGM was spent fielding questions from shareholders on a number of relevant operational matters primarily with respect to the Granada property.