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Wednesday, October 06, 2010

Gold Stocks; GOLD BULLION (TSX-V: GBB) INCREASES PRIVATE PLACEMENT, GRANTS STOCK OPTIONS

Gold Stocks; GOLD BULLION (TSX-V: GBB) INCREASES PRIVATE PLACEMENT, GRANTS STOCK OPTIONS
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Vancouver - October 6 , 2010 (Investorideas.com Mining stocks Newswire) - Gold Bullion Development Corp. (TSX-V: GBB) (the "Company" or "Gold Bullion") has amended the terms of its recently announced non-brokered private placement (the "Private Placement") to increase the number of units offered for sale from 11,111,111 units to a maximum of 14,814,814 units, at a price of $0.54 per Unit, for gross proceeds of up to $8,000,000. All other terms of the Private Placement as disclosed in the Company's September 22, 2010 news release remain the same.
Proceeds of the Private Placement will be used for the development of the Company's Granada Gold Property in northwestern Quebec. The Private Placement will be subject to approval by the TSX Venture Exchange.
The Company has also granted incentive stock options to a director of the Company to purchase 900,000 common shares in the capital of the Company, exercisable at a price of $0.48 per share for a period of five years. All options are subject to a four month hold period and are granted in accordance with the terms of the Company's Stock Option Plan and the policies of the TSX Venture Exchange.
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 Gold Property near Rouyn-Noranda, Quebec, and its high grade Castle Silver Mine in Gowganda, Ontario.
For more information on Gold Bullion Development Corp. (TSX-V: GBB, OTC PK: GBBFF), visit our web site: http://www.goldbulliondevelopmentcorp.com/.
Qualified Person
The scientific and technical information in this release was prepared under the supervision of Mr. Frank J. Basa, P.Eng., Gold Bullion's CEO and President who is a member of the Ontario Association of Professional Engineers and a "qualified" person in accordance with National Instrument 43-101.
"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
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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