Great Bear Resources

Gold Bullion Announces Results Of 2016 Annual General Meeting

May 2, 2016 / TheNewswire / Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") announces the results of the 2016 Annual General Meeting of Shareholders (the "Meeting") held on Friday, April 29, 2016.

The following individuals were re-elected directors of the Company: Frank J. Basa, Roger Thomas, Jacques F. Monette, and Annemette Jorgensen. Shareholders also approved the re-appointment of McGovern, Hurley, Cunningham, Chartered Accountants, as auditors of the Company and continuation of the Company's 10% rolling stock option plan.

The Company also received approval by the disinterested shareholders of the Assignment Agreement between the Company and Takara Resources Ltd. whereby the Company agreed to grant Takara all of its rights, obligations, and liabilities in an option to acquire a 100% interest in the Beaver and Violet cobalt and silver properties located in the township of Coleman, in northern Ontario, in consideration of $75,000. The Company has received conditional approval from the TSX Venture Exchange to the Transaction.

Following the Meeting, the Board of Directors re-appointed the following as officers of the Company:

Frank J. Basa: Chairman, President and Chief Executive Officer
Thomas P. Devlin: Chief Financial Officer
Tina Whyte: Secretary

Frank J. Basa, Jacques F. Monette and Annemette Jorgensen were appointed members of the Audit Committee for the ensuing year with Mr. Basa as Chairman.

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, Quebec. Initial gold mining operations will be focussed on high grade near surface material identified in the 2014 PFS. The Company has been systematically advancing the Granada property since acquiring the previously producing gold mine in 2006. 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 1-514-397-4000

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.

 

Copyright (c) 2016 TheNewswire - All rights reserved.

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Granada Gold Mine

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Great Bear Resources

Great Bear Resources

Great Bear Resources is a Canadian exploration company focused on its 100% owned, royalty-free Dixie gold project located in the prolific Red Lake mining district of Ontario. To date five high-grade gold discoveries have been confirmed along a 2.3km strike within a large-scale 10km target. The system at Dixie has returned multiple high-grade drill intercepts including 16.35m of 26.91 g/t gold and 7.00m of 68.76 g/t gold. Great Bear is fully funded to complete 200,000m of drilling... LEARN MORE

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