Gold Bullion Development Corp.

Gold Bullion Development Corp.

March 27, 2007 18:30 ET

Gold Bullion Development Corp.: Gold Purchase Program-Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2007) - Gold Bullion Development Corp. (TSX VENTURE:GBB) (the "Company") is pleased to announce that it has revised the gold purchase program outlined in its press release of December 18, 2006. Subscribers who qualify as accredited investors under applicable securities legislation will be offered to subscribe to debentures repayable in kind in ten quarterly installments, starting six months after the Closing Date, by a credit of a predetermined number of troy ounces of 0.995 fine gold. As security for the repayment of the Debenture, the Company will grant, for the benefit of the Debenture Holders, a 3% NSR royalty on all production from its Granada Property. The closing date has been extended past March 31, 2007, subject to all conditions of closing being met, including the preparation of final documentation in a form acceptable to the Trustee, the Depository, the Company and subject to TSX Venture Exchange approvals. The Company will make an announcement when these approvals have been received.

Investor Relations Contract

Gold Bullion Development Corp. reports that it has engaged AGORACOM Investor Relations of Toronto, Ontario to conduct investor relations on behalf of the Company pursuant to a one year contract. AGORACOM is N. America's leading IR and marketing firm for small cap companies which specializes in the natural resource sector. In addition, AGORACOM is an exclusive supplier of small cap content to some of the most recognized properties on the internet including AOL Finance Canada, Yahoo! Finance Canada and every BlackBerry Device. As a result, AGORACOM has an extensive and targeted small cap audience unrivaled in Canada.

Compensation to AGORACOM will be $3,000 per month along with an option to purchase 250,000 common shares, exercisable at the price of $0.24 per share. The stock option to be granted will be in accordance with the Company's Stock Option Plan, will have the required four (4) months hold period legend pursuant to the TSX Venture Exchange and will have vesting provisions attached.

Mr. George Tsiolis, the principal of AGORACOM reports that he does not own any securities of the Company.

The investor relations contract and the granting of the stock options are subject to the approval of the regulatory authorities.


Further to its press release dated February 22, 2007 wherein it was announced that Rocmec Mining Inc. instituted a lawsuit against the Company and others before the Quebec Superior Court, District of Montreal, claiming a total of $1.8 million in damages, the Company announces that the parties have reached an out-of-court settlement and that compensation, in the amount of $325,000, has been paid by the Company.


Frank J. Basa, P.Eng., President

The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events and results could differ materially from the Company's forward-looking statements and expectations.

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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