Gold Bullion Announces Additional Positive Drill Data
December 7, 2011
Gold Bullion Development
Corp. (TSXV: GBB, OTC PINK: GBBFF) (“Gold Bullion” or the “Company”) is pleased to announce additional
drill results from a number of holes throughout the mineralized area of the Granada Gold Property. The
subject property is located along the Cadillac trend in North-western Quebec, 5 km south of the city of
Rouyn-Noranda. Nearly 80 kilometres, (78,414 metres) have been drilled since December 2009 and in the
process, Gold Bullion has confirmed extensive mineralization on the Granada Property.
To date, the
mineralized area extends approximately 1500 metres east-west along strike and roughly 750 metres
north-south. The mineralized area does not include data from historical drilling. High grade gold
intersections continues to be discovered as evidenced by 207.27g/t gold over 0.75m (by Screen Metallics)
near the surface and 63.5g/t gold over 1.0 metre (by Screen Metallics). Highlight of these subject holes
follows:
• 182.95 metres grading 1.11 g/t Au in hole GR-11-271 including
0.75 metres grading
207.27 g/t Au at only 24.55 metres (22.1 metres vertical) depth and
1.0 metre grading 13.71 g/t Au at
71.5 metres (64.3 metres vertical) depth
• 247.5 metres grading 0.47 g/t Au in hole GR-11-199
including
1.0 metre grading 63.5 g/t Au at 60.0 metres (53.5 metres vertical) depth and
16.25 metres
grading 1.86 g/t Au at 129.75 metres (115.6 metres vertical) depth
Additional substantive drill data
is included in a table format below.
Please follow the link to view
table:
http://www.irw-press.com/dokumente/GoldBullion_Table071211_ENGLISH.pdf
Just one of the 20
drill holes, Hole (GR-11-282), did not intersect significant mineralization and was therefore omitted
from the above table. The widths reported in the preceding table are drill widths. “True” widths are
unknown at this time. All assays are uncut, length-weighted average values.
Core analysis from the
above holes was conducted by ALS Chemex Labs in Val d'Or, Quebec, and the Accurassay Laboratory in
Timmins, Ontario. Gold was assayed by fire assay with additional metallics analysis done on samples
where visible gold was identifiable. Quality control was further enhanced by the insertion of blind
certified standard reference material and blanks into the sample stream at regular intervals by logging
personnel to ensure an independent assessment and analytical accuracy.
About Gold Bullion
Development Corp.
Gold Bullion Development Corp. is a TSX Venture-listed junior natural resource
company focusing on the exploration and development of its Granada Property near Rouyn-Noranda, Québec,
and its Castle Silver Mine in Gowganda, Ontario.
Additional information on the Company’s Granada
gold property is available by visiting their website at www.GoldBullionDevelopmentCorp.com and on
SEDAR.com.
SGS independent Qualifying Person, Claude Duplessis, Ing. is responsible for the
preparation of the resource estimate program within the meaning of National Instrument 43-101. Mr.
Duplessis has verified and approved the data disclosed in this release including the sampling procedure,
analytical and test data underlying the information.
About SGS
The SGS Group is the global leader
and innovator in inspection, verification, testing and certification services. Founded in 1878, SGS is
recognised as the global benchmark in quality and integrity. With more than 67'000 employees, SGS
operates a network of over 1'250 offices and laboratories around the world.
“Frank J. Basa”
Frank
J. Basa, P.Eng. President and Chief Executive Officer
For further information contact:
Frank J.
Basa, P.Eng., President and CEO: 1-416-625-2342
Roger Thomas, Director: 1-613-292-2438
Progressive
Investor Relations (Canada) Tel (604) 689-2881 or email info@progressive-ir.com
Neither the TSX
Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release
may contain forward-looking statements including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
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