Gold Bullion Development Corp.

Gold Bullion Development Corp.

November 29, 2007 14:10 ET

Gold Bullion Development Corp. Drill Program Results From the First Hole at Joe Mann Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - Frank Basa, P. Eng, the President of Gold Bullion Development Corp. (TSX VENTURE:GBB) (the "Company") has received the preliminary results of its first hole drilled below the 1150 metre level of the Joe Mann Mine to assess the possibility of significant unmined gold and copper mineralization remaining at depth.

The historic gold mine has produced 38,869.94 kilograms of gold to a depth of 1,150 metres since 1956.

The first hole drilled (EE - 188) has been completed. It intersected 2 zones: the principal vein and the south zone. The principal vein was intersected at 174.9 metres vertical depth below the 1150-metre mine level with a core length of 2.1 metres (from 302.1 m - 304.2 m) and assayed 43.4 grams per tonne Gold (uncut assay by atomic absorption), 1.96% Copper, and 15.8 grams per tonne Silver. The gold assays were verified with a grade of 45.2 grams per tonne (uncut by fire assay). The vein was intersected at 40 degrees to core axis. This gives a projected dip of 65 degrees, which correlates with the observed dip of the same structure west of the fault. The mineralized zone contains 20% mineralized smoky quartz from 302.6 m to 303.1 m and mineralized quartz from 303.1 m to 304.8 m.

The second intersection (interpreted as the south zone) gave a core length of 0.3 m (from 437.7 m - 438.0 m) and assayed 23.3 grams per tonne Gold, 0.30% Copper, and 13.3 grams per tonne Silver (gold verified by fire assay at 22.9 grams per tonne). The intersection was at 303.6 m vertical depth below the 1150-metre mine level. The hole intersected the zone at 25 degrees to core axis and contained 40 percent quartz.

A second hole, EE-189 B, has been collared at -70 degrees to evaluate the potential mineralization at a further depth of the present structure.

The true width of the core has not yet been determined. All assay work was done in house at the mine site with recheck assays to be done by an outside lab.

The contents of the above news release have been reviewed and verified by Frank J Basa P. Eng., a qualified person under NI 43-101.

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Frank J. Basa, P. Eng., President

This press release has been prepared by management. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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