Mr. Frank Basa reports

GOLD BULLION PROVIDES MINERAL POTENTIAL AT DEPTH FOR GRANADA

Gold Bullion Development Corp. has estimated the potential quantity and grade ranges for the underground extensions at its Granada gold property, located on the prolific Cadillac trend in northwestern Quebec, five kilometres south of the city of Rouyn-Noranda.

Based on the resource estimate information and the deep-hole program interpretation, SGS Canada Inc. has provided the potential quantity and grade ranges in the table.

         POTENTIAL QUANTITY AND GRADE RANGES (1)

Zone                        Tonnes          Gold grade
                                (M)               (g/t)

UG extension west      7.4 to 11.1        3.40 to 4.70
UG extension east       2.2 to 3.3        3.20 to 4.30
Total                  9.6 to 14.4        3.35 to 4.61

(1) The potential quantity and grade are conceptual in
nature as there has been insufficient exploration to
define a mineral resource and it is uncertain if
further exploration will result in the target being
delineated as a mineral resource.

The potential stated above is based on projections within the mineralized plan of two and three mineralized zones of three-metre true width on the west and east side of the deep-hole program under highly drilled surface mineralization.

As disclosed in Gold Bullion's press release of Nov. 15, 2012:

The total gold resource at Granada now stands at 1,605,000 gold ounces in the measured and indicated categories with 1,033,000 gold ounces in the inferred category using a cut-off grade of 0.40 gram per tonne. The in situ measured resource is 946,000 ounces (28,735,000 tonnes grading 1.02 g/t), the indicated resource is 659,000 ounces (18.74 million tonnes grading 1.09 g/t) and the inferred resource is 1,033,000 ounces (29,975,000 tonnes grading 1.07 g/t Au), using a cut-off grade of 0.40 g/t. Additional information can be found in the company's press release of Nov. 15, 2012.

On April 22, 2010, the company set a target of 2.4 million to 2.6 million ounces of gold as per the original preliminary block model estimate. That target has been hit as evidenced by the press release dated Nov. 15, 2012. Based on these additional data from SGS, Frank Basa, Gold Bullion's chief executive officer, stated, "The company is now targeting 3.6 to 4.6 million ounces of gold from the next phase of the continued exploration program at Granada with some 80 per cent of the extended Long Bars zone remaining to be explored."

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

We seek Safe Harbor.