Gold Bullion Appoints New CFO for Castle Silver Mines Inc.

Suite 1005, 1155 Rene Levesque Street West Montreal, Quebec H3B 2J2 Tel: 514-397-4000 / Fax: 514-397-4002

GOLD BULLION APPOINTS NEW CFO FOR CASTLE SILVER MINES INC.

May 8, 2013 – Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the “Company” or “Gold Bullion”) announces that Derrick West has resigned, effective April 30, 2013, as Chief Financial Officer of Castle Silver Mines Inc., a wholly owned subsidiary of the Company, in order to pursue other interests. The Company thanks Mr. West for his time and service and wishes him well in his future endeavours.

Thomas P. Devlin, Chief Financial Officer of Gold Bullion, will assume the role of Chief Financial Officer for Castle Silver Mines Inc.

Castle Silver Mines Inc.

Castle Silver Mines Inc. was incorporated in March 2011 as a wholly-owned subsidiary of Gold Bullion, for the purpose of taking over the silver assets and exploration activities carried out by Gold Bullion, so that Gold Bullion could devote itself solely to exploration for gold. Castle Silver Mines Inc. currently owns the Castle Silver Mine property located in Gowganda, Ontario.

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. 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. Forwardlooking 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.