Gold Bullion Adopts New Shareholder Rights Plan

GOLD BULLION ADOPTS NEW SHAREHOLDER RIGHTS PLAN February 21, 2014 - Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the “Company” or “Gold Bullion”) announces the adoption of a new shareholder rights plan (the “New Rights Plan”) which will become effective on April 5, 2014, concurrent with the termination of the current shareholder rights plan of Gold Bullion.

The Company adopted both the original rights plan and the New Rights Plan to ensure, to the extent possible: (i) that all shareholders are treated fairly in connection with any takeover offer for the Company, and (ii) in the event of an unsolicited bid, to ensure that the board of directors (the "Board") is provided with a sufficient period of time to evaluate unsolicited takeover bids and to explore and develop alternatives to maximize shareholder value.

Under the terms of the New Rights Plan, one right will be issued by the Company for each outstanding common share at the close of business on April 5, 2014, and for each common share issued in the future (subject to the terms of the New Rights Plan). The rights issued under the New Rights Plan become exercisable only if an offeror acquires or announces its intention to acquire 20% or more of the common shares of the Company without complying with the “Permitted Bid” provisions of the New Rights Plan or without the approval of the Board.

Permitted Bids must be made to all holders of common shares of Gold Bullion by way of a takeover bid circular prepared in compliance with applicable securities laws and, among other things, must be open for acceptance for a minimum of 60 days. If at the end of 60 days at least 50% of the outstanding common shares other than those owned by the offeror and certain related parties have been tendered and not withdrawn, the bidder may take up and pay for the shares but must extend the bid for a further 10 days to allow other shareholders to tender to the bid.

If a takeover bid does not meet the Permitted Bid requirements of the New Rights Plan, the rights will entitle Gold Bullion shareholders, excluding the shareholder or shareholders making the takeover bid, to purchase additional common shares of the Company at a substantial discount to the market price of the common shares at that time.

The New Rights Plan is similar to the type of rights plans adopted by other Canadian incorporated public companies and is substantially similar to the current shareholder rights plan. The New Rights Plan is not being adopted in response to any actual or threatened takeover bid or other proposal from a third party to acquire control of the Company. The New Rights Plan is subject to approval of the TSX Venture Exchange, and requires confirmation by the Company's shareholders within six months of the its effective date. Gold Bullion expects to seek shareholder approval and ratification of the New Rights Plan at its upcoming annual general and special meeting of shareholders to be held on April 4, 2014. If the New Rights Plan is not ratified at the meeting, it will not become effective. A copy of the New Rights Plan is available under Gold Bullion’s profile on SEDAR at www.sedar.com.

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 its Granada Property near Rouyn-Noranda, Québec, and its high grade Castle Silver Mine in Gowganda, Ontario. Additional information on the Company’s Granada gold property is available by visiting the website at www.GoldBullionDevelopmentCorp.com and on SEDAR.com.

“Frank J. Basa”

Frank J. Basa, P.Eng.

President and Chief Executive Officer For further information contact:

Frank J. Basa, P. Eng., President and CEO at 1-514-397-4000 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.