Mr. Frank Basa reports

GOLD BULLION ANNOUNCES ADDITIONAL POSITIVE DRILL DATA UPDATE

Gold Bullion Development Corp. has released additional drill results from several holes located throughout the mineralized area of the Granada gold property. The subject property is located along the prolific Cadillac trend in northwestern Quebec, five kilometres south of the city of Rouyn-Noranda.

Of the 17 holes, 14 reported significant gold mineralization, with hole GR-11-389 at 0.53 gram per tonne gold over 95 metres (from 72 metres to 167 metres) confirming continuity of the mineralized package near surface, inclusive of three discrete higher-grade zones. Hole GR-11-389 was drilled in the southeast direction to confirm mineralization and assist in the exact positioning of the north-northeast fault displacing the mineralized blocks between sections.

These assay results are from the 2011 drill program and continue to demonstrate low-grade, high-tonnage, near-surface intersections while confirming the specific high-grade zone at depth with thickness and grade suitable for underground mining.

Highlights include GR-11-260, with 4.87 g/t Au over 3.89 metres at depth, while near-surface hole GR-11-272 reported 0.39 g/t Au over 129 metres from 112 metres to 241 metres. Gold Bullion's chief executive officer, Frank Basa, is very encouraged by the results, which consistently demonstrate the presence of widespread significant gold mineralization on the Granada property. Further details on the mineralized holes, inclusive of substantive drill data, are summarized in the accompanying table.

Hole           From        To      Length       Au
                 (m)       (m)         (m)    (g/t)

GR-11-260    382.50    386.39        3.89     4.87
GR-11-272    112.00    241.00      129.00     0.39
Including    112.00    135.00       23.00     0.89
Including    112.00    115.00        3.00     4.64
Including    171.00    178.50        7.50     0.56
Including    199.50    241.00       41.50     0.53
Including    204.00    223.50       19.50     0.81
GR-11-274     58.00     63.50        5.50     0.54
GR-11-276    133.50    166.50       33.00     0.40
Including    133.50    139.50        6.00     1.43
GR-11-298    171.50    253.50       82.00     0.59
Including    205.50    223.50       18.00     1.03
Including    241.50    253.50       12.00     1.67
GR-11-298    336.00    339.50        3.50     4.01
GR-11-304    177.00    217.50       40.50     0.45
Including    177.00    181.50        4.50     0.73
Including    213.00    217.50        4.50     2.97
GR-11-355     23.50     31.47        7.97     0.82
GR-11-355     90.10    123.50       33.40     0.56
Including    114.00    122.00        8.00     1.75
GR-11-356      6.00     51.00       45.00     0.31
Including      6.00     15.50        9.50     0.54
Including     34.60     51.00       16.40     0.40
GR-11-356    102.00    111.20        9.20     0.59
GR-11-365     54.50     73.00       18.50     0.63
Including     54.50     66.00       11.50     0.91
GR-11-365    140.00    154.00       14.00     0.54
GR-11-366     45.00     58.50       13.50     0.34
GR-11-366    144.50    223.50       79.00     0.58
Including    155.50    180.00       24.50     0.81
Including    168.00    180.00       12.00     1.28
GR-11-366    193.00    213.00       20.00     0.95
Including    202.00    213.00       11.00     1.34
GR-11-371     53.00     60.00        7.00     0.39
GR-11-373    272.50    320.60       48.10     0.47
Including    272.50    278.00        5.50     1.71
Including    314.00    319.20        5.20     1.70
GR-11-374    192.00    216.00       24.00     1.14
Including    199.50    205.15        5.65     4.08
GR-11-389     72.00    167.00       95.00     0.53
Including    120.00    148.00       28.00     1.21
Including    136.00    148.00       12.00     2.38
Including    142.00    148.00        6.00     4.39

Only three holes, GR-11-364, GR-11-251 and E-11-06, did not cut significant mineralization. GR-11-364 was northwest and too short to intersect the zone, while both GR-11-251 and E-11-06 were intended to test the eastern extension and may not have been suitably located to cut the zones due to the northeast shift of mineralized blocks caused by the north-northeast faults.

Additional assay results are pending and will be released as they become available.

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

Investor relations agreement terminated

The company also announces it has provided 30 days notice to terminate, effective July 15, 2012, the investor relations agreement dated Sept. 10, 2009, wherein Progressive IR Consultants Corp. of Vancouver, B.C., was engaged to provide investor relations services to the company.

We seek Safe Harbor.