cnw


VANCOUVER, Nov. 19 /CNW/ -


Mr. Frank J. Basa reports:


Gold Bullion Development Corp. (GBB, TSX.V) (the "Company" or "Gold
Bullion") is very pleased to report it has intersected significant
mineralization northeast and southeast of its LONG Bars Zone
Preliminary Block Model at the Granada Gold Property in northwestern
Quebec, demonstrating the growing magnitude of the LONG Bars Zone
Eastern Extension.


GR-10-86, one of the southernmost holes drilled to date in the Eastern
Extension (430 metres south of recently reported GR-10-55), has
returned 84.6 metres grading 1.00 g/t Au within a total near-surface interval of 127.5 metres (4.5 metres to 132
metres) grading 0.76 g/t Au.


GENIVAR, Gold Bullion's geological consultant, reports mineralization in
GR-10-86 is associated with feldspar porphyry and brecciated quartz
veining. This hole was drilled toward the south and was collared
approximately 180 metres southeast of Gold Bullion's Preliminary Block
Model outlined in the Company's April 22, 2010, news release. A series
of holes for which assays are pending have been drilled in the vicinity
of GR-10-86.


Meanwhile, GR-10-108, collared 30 metres north of GR-10-55 and 150
metres northeast of the Preliminary Block Model, has intersected 62.4 metres grading 1.06 g/t Au within a wider interval of 279.6 metres grading 0.38 g/t Au. Assays
have yet to be received on 11 of 15 Phase 2 holes drilled in this
promising area north, northeast and northwest of Phase 1 Discovery Hole
GR-10-17 with current drilling focusing on expanding the continuity of
the feldspar porphyry and quartz veining.


A total of 74 Phase 2 and Phase 3 holes have now been completed in the
Eastern Extension with assays pending on 57 of these holes (a total of
four holes are included in this release, see table below). GENIVAR
continues to observe altered feldspar porphyry and quartz veining
throughout the Eastern Extension.


The total surface area drilled to date in the Eastern Extension (500
metres north to south x 500 metres west to east) now exceeds the total
dimensions of the Preliminary Block Model which includes the former
producing Granada Mine (plus extensions Gold Bullion has discovered)
and is immediately to the west of the Eastern Extension. Together, the
two form the LONG Bars Zone which remains open in all directions.


Gold Bullion has completed 4,500 metres of a planned 50,000 metres of
Phase 3 drilling throughout the Eastern Extension and the Preliminary
Block Model (currently, one Landdrill International rig is assigned to
each area). So far this year, a total of 32,000 metres have been
drilled at the property, greatly expanding the potential of the LONG
Bars Zone and the nearly 5,000 hectare land package. Drilling will
continue throughout the winter with only a short break over Christmas
and New Year's.


"The Eastern Extension has expanded Granada not only to the east, where
we have many highly prospective targets still to pursue over a strike
length of several kilometers, but assay results are now confirming
excellent potential where we hold significant ground going north and
even south," stated Frank J. Basa, Gold Bullion's President and CEO.
"Mineralization is open in all directions and the scale of this project
continues to grow. It's important to emphasize that Phase 1 and Phase 2
drilling were designed to test for structure. We're now getting a
steady flow of assay results from Phase 2 and we're eagerly awaiting
additional results from both the Eastern Extension and the Preliminary
Block Model in the very near future."


Significant intercepts from GR-10-108, GR-10-86, GR-10-75, and GR-10-71
include the following:








DDH


From (m)


To (m)


Interval (m)


g/t Au





GR-10-108


2.42


282.00


279.58


0.38





including


117.58


259.28


141.70


0.70





including


138.36


200.78


62.42


1.06





including


187.28


218.97


31.69


1.86























GR-10-86


4.50


132.00


127.50


0.76





including


34.80


119.39


84.59


1.00





including


10.96


36.30


25.34


2.40























GR-10-75


110.00


177.00


67.00


0.40





including


116.50


139.00


23.00


0.69























GR-10-71


144.30


186.00


41.70


0.19





Widths reported are drill widths; true widths are unknown. Assays are
uncut, length-weighted average values. A drill map is available on the
Gold Bullion web site,
quality assurance/quality control program, are supervised by GENIVAR,
Gold Bullion's geological consultant. Core from the above holes was
sent to ALS Chemex Labs in Val d'Or, Quebec, and Laboratoire Expert in
Rouyn-Noranda, Quebec, 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