Mr. Frank Basa reports

GOLD BULLION DEVELOPMENT CORP. PROVIDES UPDATE

Gold Bullion Development Corp., as part of its continuing program to produce a preliminary feasibility study (PFS), has engaged several independent consultants. SGS Mineral Services Lakefield in Canada and Gekko Systems based in Australia will conduct metallurgical testwork for process plant flowsheet optimization. Roche Ltee. Groupe-conseil has also been retained and will be responsible for all aspects of environmental and permitting work, while C.C. Consultants will be advising on matters pertaining to social responsibility and local community communications. SGS Geostat's role is to oversee management of the entire project.

The company's preliminary economic assessment (PEA), full document issued Feb. 4, 2013, indicated that the proposed mine was cash flow positive for both the open-pit and underground scenarios independent of one another.

The PEA has served as the starting point for the determination of extraction process optimization with the goals of reducing cash cost per ounce and related capital expenditures. Also in this first PEA, as part of this optimization process, the company included scenarios that increased the grade of the open-pit resource from one gram per tonne gold to two g/t Au. Going forward, the company will conduct a thorough review to evaluate whether the increase in grade will in fact lower cash costs per ounce as well as associated capital expenditures.

Claude Duplessis, PEng, is acting as the qualified person (QP) for Gold Bullion Development in compliance with National Instrument 43-101 and has reviewed the technical contents of this press release.