Mr. Frank Basa reports

GOLD BULLION REPORTS 6,476 G/T AG OVER 3.09M AT CASTLE SILVER MINE, GOWGANDA

Gold Bullion Development Corp. has completed 6,842 metres in 12 holes of diamond drilling in its first drill campaign on the Castle silver property historic past-producing silver mine property located 85 kilometres northwest of the historic silver camp in Cobalt, Ont.

Numerous strong calcite veins and vein systems were drilled, and many of these were independent of the existing mine workings. The best silver intersection encountered is a 3.09-metre (10.138-foot) weighted interval of 6,476 grams per tonne (g/t) Ag (188.80 ounces per ton Ag) in hole CA11-08 from 563.54 to 566.63 metres including a 0.45-metre (1.476-foot) interval of 40,944 g/t Ag (1,193.70 ounces per ton Ag) in a calcite-Co-Ag vein (not true width). Leaf silver was common in the wall rock in the reported interval.

Gold Bullion's NQ drill program and drill core sampling, including the quality assurance/quality control program, are supervised by D. Robinson, PEng, and project geologist. Core from this drill campaign was sent to Accurassay Laboratory in Timmins, Ont., for sample preparation and to its Thunder Bay laboratory for analysis. Silver was assayed by fire assay with AA check with additional pulp and metallics analysis done on samples where significant silver was identified. Analytical accuracy and precision are monitored by the analysis of reagent blanks and reference materials at the lab. Quality control is further assured by the insertion of blind certified standard reference material and blanks into the sample stream at regular intervals by the geologist on-site in order to independently assess analytical accuracy.

Five holes crossed the complete stratigraphic section of the shallow-dipping Nipissing diabase fulfilling one of the program objectives to define the entire thickness of the diabase and detailed internal stratigraphy. The apparent thickness varied from 230 metres to 365 metres. The Nipissing diabase is considered the primary feature controlling the emplacement of silver deposits.

The recently completed exploration program consisted of an orientation IP (induced polarization) geophysical survey and 12 diamond drill holes (6,842 metres) designed to test various targets including four IP targets as well as identify low-angle faults in proximity to the diabase. Using geophysics to detect silver prospects has long been attempted but has proven difficult due to silver being a perfect conductor. The success of this program has led to the recommendation of follow-up down-the-hole EM (electromagnetic) and IP geophysical surveys and further diamond drilling in several locations based on interesting findings.

Gold Bullion is extremely happy with the results of this drill campaign and is eagerly anticipating the next phase of exploration.

We seek Safe Harbor.