GOLD BULLION DEVELOPMENT CORP.

NEWS RELEASE

January 16, 2008                                                       TSX.V. GBB

Gold Bullion Development Corp. – Private Placement Update

Further to the Company’s press release dated September 20, 2007, the Company advises that it has now raised an aggregate of $1,029,100. The Company anticipates closing the third and final tranche within the next 30 days. The financing consists of 10,000,000 units at a price of $0.15 per unit. Each unit consists of one common share and one non-transferable share purchase warrant exercisable for one year at the price of $0.18. A finder’s fee will be payable in accordance with the policies of the regulatory authorities.

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.