VANCOUVER,
Dec. 30, 2013 /CNW/ - Gold Bullion
Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or
"Gold Bullion") has mandated SGS Geostat ("SGS") to review several
options including the capacity of local milling alternatives in
addition to on-site milling at the Granada property. Due to general market
conditions, local excess milling capacity may now be available that
will allow the Company to more efficiently process mineralized
material from Granada. Test work
is currently underway to evaluate the suitability and efficiency of
various custom milling circuits. In addition to the open pit
scenario previously referred to in the Company's press release
dated November 13, 2013, the Company
has mandated SGS to review the underground-mineralized material to
be processed during the rolling start phase of the Granada Gold
Mine property development. To date, the associated mining costs
were determined based on using a primary mining contractor with
blasting activities subcontracted. The costs anticipated at this
stage are in line and consistent with previous Company
expectations.
Due to these additional mandates, SGS has
informed Gold Bullion management that the revised Pre-Feasibility
Study will most likely be completed early in the second quarter of
2014. In the interim, an extensive community communication
program will be launched in January
2014. Several meetings have been scheduled for the
region surrounding the Granada
mine site to ensure the extremely high environmental standards in
the plan are clearly understood by local residents.
Claude Duplessis,
P. Eng., a consultant for SGS Geostat, is acting as the qualified
person (QP) for Gold Bullion Development Corp. in compliance with
National Instrument 43-101 and has reviewed the technical contents
of this press release.
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
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.
SOURCE Gold Bullion Development Corp.