March 22, 2011 - Gold Bullion Development Corp. (GBB, TSX.V) (the "Company" or "Gold Bullion") announces that it held its 2011 Annual General and Special Meeting of Shareholders (the "Meeting") on Friday, March 18, 2011.

The following individuals were re-elected directors of the Company: Frank J. Basa, Roger Thomas and Jacques F. Monette. Shareholders also approved the re-appointment of Bratt Fremeth Star, S.E.N.C., as auditors of the Company, continuation of the Company’s 10% rolling stock option plan, and an amendment to certain sections of the Company’s Articles to allow for the issuance of book-based securities.

Immediately after the Meeting, the Board of Directors re-appointed the following officers of the Company:

Frank J. Basa: Chairman, President and Chief Executive Officer Thomas P. Devlin: Chief Financial Officer Roger Thomas: Secretary

Frank J. Basa, Jacques F. Monette and Roger Thomas were appointed members of the Audit Committee for the ensuing year, of which Frank J. Basa is Chair.

Our management team was pleased to see such a high percentage of proxies being voted. We appreciate our shareholders’ continued confidence in our strategies for maximizing shareholder value.

In his presentation to shareholders, Frank Basa, President and Chief Executive Officer of Gold Bullion, outlined Gold Bullion’s growth strategies for both the Granada Gold Mine and the Castle Silver Mine. A lengthy question and answer period followed with many well informed questions and a positive exchange of ideas. More detailed press releases on each property will be released shortly.

In conclusion, the Company remains very focused on generating a NI43-101 compliant resource calculation by early summer.