Gold Bullion Oversubscribes and Closes $830,000 Private Placement

2875 Ave Granada Rouyn Noranda, Québec J9Y 1J1 Tel: 819‐797‐4144 / Fax: 819‐762‐2306

GOLD BULLION OVERSUBSCRIBES AND CLOSES $830,000 PRIVATE PLACEMENT

March 8, 2016 ‐ Gold Bullion Development Corp. (TSXV:GBB) (OTCPINK:GBBFF) (the “Company” or “Gold Bullion”) is pleased to announce that further to its news release dated March 3, 2016, the Company has oversubscribed and closed its private placement offering raising gross proceeds of $830,000. The Company issued 16,600,000 units at a price of $0.05 per unit. Each unit is comprised of one common share and one share purchase warrant with each warrant entitling the holder thereof to purchase one additional common share of the Company at an exercise price of $0.10 per share, for a period of two years from closing, subject to the acceptance of the TSX Venture Exchange.

The proceeds of the private placement will be used for general working capital purposes. The shares and warrants issued in connection with the private placement are subject to a four‐month plus a day hold period expiring on July 9, 2016.

About Gold Bullion Development Corp.

Gold Bullion Development Corp. is a TSX Venture‐listed junior natural resource company engaged in the exploration and development of its 100% owned Granada Gold Property located on the prolific Cadillac Trend near Rouyn‐Noranda, Québec. Initial gold mining operations will be focussed on high grade near surface material identified in the 2014 PFS. Prepared rock is to be transported to Iamgold’s nearby facility for processing with project economics forecasting all in cash costs at US $797 per ounce. The Company has been systematically advancing the Granada property since acquiring the previously producing gold mine in 2006. The latest resource update at a 1 g/t Au range base case is 833,477 ounces gold Measured at 0.90 g/t Au in 30.4 M tonnes, 753,811 ounces gold Indicated at 0.96 g/t Au in 26.5 M tonnes and 1.6 million ounces Inferred at 0.99 g/t Au in 51.5 M tonnes using a cut off grade of 0.30 g/t. Additional information on the Company 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 1‐819‐797‐4144

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. 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.