May 12, 2008 - GOLD BULLION ANNOUNCES CLOSING OF $219,000 “FLOW-THROUGH” PRIVATE PLACEMENT WITH MINERALFIELDS

Vancouver, British Columbia – May 12, 2008 – Gold Bullion Development Corp. (TSX-V: GBB) announces that it has held a first closing of a private placement by issuing 2,192,970 “flow-through” units to one limited partnerships associated with MineralFields Group of Toronto, Ontario at a price $0.10 per unit, for gross proceeds to Gold Bullion of $219,297. Each unit consists of one “flow-through” common shares of Gold Bullion and one common share purchase warrant...

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