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Tuesday, November 09, 2010

Investorideas.com - Gold Stocks; GOLD BULLION (TSX-V: GBB) INTERSECTS HIGH GRADE MINERALIZATION IN LONG BARS ZONE EASTERN EXTENSION

Investorideas.com - Gold Stocks; GOLD BULLION (TSX-V: GBB) INTERSECTS HIGH GRADE MINERALIZATION IN LONG BARS ZONE EASTERN EXTENSION

Vancouver - November 9, 2010 (Investorideas.com Mining stocks Newswire) - Mr. Frank J. Basa reports: Gold Bullion Development Corp. (TSX-V: GBB) (the "Company" or "Gold Bullion") is pleased to report several new assay results from Phase 2 drilling in the LONG Bars Zone Eastern Extension of its 100% owned Granada Gold Property. Gold Bullion is aggressively exploring Granada, located five kilometres south of Rouyn-Noranda in northwestern Quebec, as a potential open-pit deposit along the prolific Cadillac Trend where numerous multi-million ounce deposits have been discovered and developed. The Eastern Extension is outside Gold Bullion's LONG Bars Zone Preliminary Block Model that was outlined in detail in the Company's April 22, 2010, news release.

GR-10-55, collared 88 metres northwest of Phase 1 Discovery Hole GR-10-17 (123.5 metres grading 1.07 g/t Au), has returned the highest grades to date in the Eastern Extension including 4.05 g/t Au over 40.5 metres from 86.64 to 127.14 metres. The 116-metre interval between 86.64 and 202.5 metres averaged 1.69 g/t Au.

Overall, GR-10-55 returned 0.60 g/t Au over a core length of 356.6 metres, the longest intersection of mineralization discovered so far at Granada. GENIVAR, Gold Bullion's geological consultant, reports that mineralization in GR-10-55 is associated with altered feldspar porphyry and quartz-veining. The hole was drilled at an angle of 65 degrees and ended in conglomerate at a vertical depth of 175 metres. Intervals are as follows:

"To get a result like GR-10-55 when we are still drilling for structure over an area that has received little historical attention is very encouraging," explained Frank Basa, Gold Bullion's President and CEO. "We have a great deal of work ahead of us but we're confident we're making excellent progress in both the Eastern Extension and the Preliminary Block Model as we continue toward our goal of defining a large open-pit deposit at Granada. We're encountering mineralization in every hole and we've yet to start to drill for grade. We are very eagerly anticipating a steady flow of assay results from all areas of Phase 2 drilling through the rest of this month and December."

Significant intercepts from four other holes in the Eastern Extension, south and southeast of GR-10-17, are as follows:

Widths reported are drill widths; true widths are unknown. Assays are uncut, length-weighted average values. An updated drill map will be posted today on the Gold Bullion web site, www.GoldBullionDevelopmentCorp.com.

Gold Bullion's 25,000 metre LONG Bars Zone Phase 2 drill program has concluded and a 50,000 metre Phase 3 program is now in progress. More details concerning Phase 3 will be released in the near future but the LONG Bars Zone will be tested to a vertical depth of 450 metres. Mineralization remains open in all directions at Granada and a total of 170 holes have now been completed in Phase 1, Phase 2 and Phase 3. A prominent zone of deformation, hydrothermal alteration and quartz-veining extends for at least five kilometres around the old mine workings.
With current working capital of approximately $10 million, Gold Bullion is in a strong financial position to advance the Granada Gold Property in the coming months through its Phase 3 drill program and other initiatives.

Gold Bullion's NQ drill program and drill core sampling, including the quality assurance/quality control program, are supervised by GENIVAR, Gold Bullion's geological consultant. Core was sent to ALS Chemex Labs in Val d'Or, Quebec, and Laboratoire Expert in Rouyn-Noranda for analysis. Gold was assayed by fire assay with additional metallics analysis done on samples where visible gold was identified.

Analytical accuracy and precision are monitored by the analysis of reagent blanks and reference materials at both labs. Quality control is further assured by the insertion of blind certified standard reference material and blanks into the sample stream at regular intervals by Gold Bullion and GENIVAR personnel in order to independently assess 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 mineral properties, all of which are located in Canada. The Company is currently focused on the advancement of its Granada Gold Mine Property in Rouyn-Noranda, Quebec, and the Castle Silver Mine Property 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.

Frank J. Basa, President and Chief Executive Officer

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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For further information
Frank J. Basa, P.Eng., President and CEO: 1-416-625-2342 Roger Thomas, Director: 1-613-292-2438 Progressive Investor Relations (Canada): (604) 689-2881 or email: info@progressive-ir.com Torrey Hills Capital (United States): (858) 456-7300

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