Gold Bullion Earns NSR on Castle Silver Mines Inc.
2875 Ave Granada Rouyn Noranda, Québec J9Y 1J1 Tel: 819-797-4144 / Fax: 819-762-2306 GOLD BULLION EARNS NSR ON CASTLE SILVER MINES INC.
August 10, 2015 - Gold Bullion Development Corp. (TSX-V: GBB) (OTCPINK: GBBFF) (the “Company” or “Gold Bullion”) confirms that the Company has earned a 1% Net Smelter Royalty (NSR) from Castle Silver Mines Inc. (“Castle Silver”) by meeting the conditions of the Net Smelter Royalty Agreement dated July 1, 2012. To meet those conditions the Company has expended $1 million over the three-year period from July 2012 through June 2015 on the development of properties held by Castle Silver.
Gold Bullion intends to distribute the 1% NSR to its shareholders of record as a dividend payable in cash at such time as the properties held by Castle Silver go into production. The Directors of Gold Bullion will determine the official date of record for the NSR dividend distribution at such time as production from Castle is imminent. The dividend distribution to shareholders remains subject to regulatory approvals including the TSX Venture Exchange.
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 Gold Property located on the prolific Cadillac Trend close to Rouyn-Noranda, Québec. Near term gold mining operations will focus on high grade near surface material that will be trucked to Iamgold’s nearby processing facility. The project economics remain robust with all in cash costs forecast at US $797. The overall gold resource continues to grow and now stands at 1.58 Million ounces M & I @ 0.93 g/t plus 1.55 Million ounces Inferred @ 0.99 g/t with a 0.3 g/t cut-off. Additional information on the Company is available on the Company 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 1-819-797-4144 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.