Gold Bullion Announces Plans for a New Exploration Program Targeting a Signifcant Expansion of the Granada Gold Deposit

September 8, 2016 / TheNewswire / Gold Bullion Development Corp. (TSX-V: GBB) (OTCPINK: GBBFF) (Frankfurt B6D) (the "Company" or "Gold Bullion") today announced that it will begin diamond drilling at its Granada gold property during September 2016 as part of a new exploration program which is aimed at expanding its gold mineral resources near surface. The program will focus on several high-grade targets in the unexplored part of the property and is expected to continue over a two-to-three-year period.

The first two drill holes will target the Aukeko West and Pontiac vein systems previously identified in historical maps but which so far haven't been drilled by Gold Bullion. The veins are located in the western bound of the Aukeko Zone, about 500 metres west of the historical Aukeko shaft and 2,000 metres east of the historical Granada shafts.

The Company's current plans include drilling another nine holes in three other locations that have not been drilled before. Three of the holes are scheduled to intersect the Syncline vein where a historical grab sample in 1992 averaged 0.357 ounces (11.1 grams) per tonne, four holes are scheduled to drill test a vein extension under the orphan tailings and two holes are scheduled to verify a possible north-east extension of the GR-10-73 vein intersection. Drilling in this first phase of the program is expected to total approximately 2,500 metres and be completed this year. Results will be disclosed once they are received and validated.

The planned drilling locations can be viewed on two maps below. The maps can also be accessed via the following links: exploration map 1; exploration map 2

"Gold Bullion actively explored the Granada gold property from 2009 to 2014 but we only drilled 20% of the potential vein structure, leaving 80% still unexplored and the deposit open in all directions and at depth. With market conditions improving, we believe the time is right for the Company to initiate another exploration program which could increase its mineral resources on the property," said Frank Basa, President and Chief Executive Officer.

Based on almost 90,000 metres of drilling, the NI 43-101 estimate published in 2013 for the Granada property is as follows: measured resource is 946,000 ounces of gold (28.735 million tonnes grading 1.02 g/t), indicated resource is 659,000 ounces (18.740 million tonnes grading 1.09 g/t), and inferred resource is 1,033,000 ounces gold (29.975 million tonnes grading 1.07 g/t Au) using a cut-off grade of 0.40 g/t. This estimate is contained in NI 43-101 Technical Report Granada gold project Resource estimate update Rouyn-Noranda, Abitibi, Quebec, published January 3, 2013 with effective date of November 15, 2012. Claude Duplessis, Eng., and Gilbert Rousseau, Eng., are the independent qualified persons in accordance with National Instrument 43-101.

As part of the new exploration program, Gold Bullion is targeting a pit-constrained target of 88 to 93 million tonnes at 1 gram per tonne gold plus another 10 to 20 million tonnes at 3 grams per tonne gold underground. The potential quantity and grade reported as targeted exploration target is conceptual in nature. 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.

In addition, once permits are received, the Company intends to commence exploration in the historical Aukeko shaft area where a bulk sample in 1938 averaged 7.0 ounces of gold per short ton (239.9 grams per tonne). The plan calls for an initial five trenches up to 100 metres in length to define zones for subsequent diamond drilling.

The potential strike length on the property is 5.5 kilometres, beginning at the westernmost drill hole near the historical Granada shafts and extending eastward to the historical Austin Rouyn shaft where grab samples in 1940 showed up to 6.57 ounces of gold per short ton (225.2 grams per tonne). Note that there are two cross-cutting intrusive dykes of undefined width within that strike length. The potential strike length is conceptual in nature as there has been insufficient exploration to define the full length of the mineralized material and it is uncertain if further exploration will do so.

The new exploration program focuses on sections of the Granada property that were not included in the resource estimate in the 2013 technical report. Therefore, the drilling results, if successful, could potentially add to the numbers previously reported.

An updated resource estimate when it is published in a new 43-101 technical report would also include 400 historical holes that were drilled prior to the Company's acquisition of the property in 2006, as sufficiently long sections of the core from the historical holes has been analyzed in work done since the publication of the 2013 technical report.

About Gold Bullion Development Corp.

Gold Bullion Development Corp. is developing the Granada Gold Property near Rouyn-Noranda, Quebec. The property includes the former Granada gold mine which produced more than 50,000 ounces of gold in the 1930s before a fire destroyed the surface buildings. The highly prolific Cadillac Trend cuts through the north part of the property. The Cadillac Trend has been the source of more than 50 million ounces of gold produced in the past century on a line running from Val-d'Or to Rouyn-Noranda.

The Company has obtained all necessary permits for the initial mining phase known as the "Rolling Start" for which stripping has already begun, and has agreements in place with First Nations. Additional information is available at www.goldbulliondevelopmentcorp.com.

Claude Duplessis, P. Eng., of Goldminds Geoservices Inc., a geological, environmental and mining consultant, who is an independent qualified person in accordance with National Instrument 43-101, has reviewed and approved the contents of this news release.

"Frank J. Basa"

Frank J. Basa P. Eng.
President and Chief Executive Officer

For further information, please contact:

Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144

Renmark Financial Communications Inc.
Steve Hosein: shosein@renmarkfinancial.com
Tel.: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.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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