GOLD BULLION DEVELOPMENT CORP.
NEWS RELEASE
February 5, 2008 TSX.V. GBB
Update - Granada Gold Mine
VANCOUVER , BRITISH COLUMBIA - Frank J Basa P. Eng., President of Gold Bullion Development Corp. (the "Company") (TSX:V: GBB) announces that the Company has recovered 40.43 kilograms (1304.33 troy ounces) of fine gold in a program of bulk sampling from the surface mineralized zone #2 vein structure. The Company has processed the mill feed at the ‘on site mill’ at the Granada Gold Mine in Granada, Quebec during the first and second quarters of 2007. The Company mined 139,471.39 dry metric tones, of which 29,948.49 dry metric tonnes were processed as mill feed. The waste-mill feed strip ratio for the first bench was 3.65/1.
Bulk test mining and processing highlights are as follows:
- Calculated recovered gold grade of mill feed of 1.62 grams/tonnes is 20.0% above average mill head grade of 1.35 grams/tonnes due to free gold content.
- Strong mill feed continuity beyond the past formally defined mineralized zones and drilled intersections of the past exploration programs.
- Milling recoveries remain very high at 89.76 per cent with no increase in operational costs or decrease in throughput of the plant.
Frank J Basa, states, "We are especially pleased with results which confirm that there is a possibility of more tonnage and significant free gold content which will increase the resource estimate when it will be calculated.”
Parameters of the Bulk Test Mining and Processing program are as follows:
- The mill feed that was processed was mined from an area defined as Pit 2A from the surface of the #2 vein structure.
- Dilution in the first bench was within 15%.
- Processing was done at the Granada Mill, under the supervision of Mr. Karol O. Mikulash, P.Eng., metallurgist and qualified person.
- Assay samples were taken at each shift and sent for analysis to Laboratories, Rouyn-Noranda (Quebec).
- The Granada Mill grinding circuit was completely dismantled and cleaned out.
- Final refining of the Dore bars was done at the Royal Canadian Mint located in Ottawa, Ontario and Handy & Harman of Canada, Inc. located in Rexdale, Ontario.
Frank J Basa, P.Eng., President, is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this news release.
For more information on Gold Bullion Development Corp. (TSX-V: GBB), visit our website
http://www.goldbulliondevelopmentcorp.com/en/.
ON BEHALF OF THE BOARD OF DIRECTORS
Frank J. Basa, P.Eng.
President
CONTACT INFORMATION
Frank J. Basa, P. Eng. President & Chairman
info@Goldbulliondevelopmentcorp.com
Investor Relations
AGORACOM Investor Relations
http://www.agoracom.com/IR/goldbullion
gbb@Agoracom.com
THIS PRESS RELEASE HAS BEEN PREPARED BY MANAGEMENT. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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