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May 4, 2015 – Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the “Company” or “Gold Bullion”) is pleased to announce that Takara Resources Inc. (“Takara”) (“TSX.V: TKK”) has received conditional approval to the acquisition of certain properties of Gold Bullion situated in Ontario, through the acquisition of Gold Bullion’s wholly-owned subsidiary, Castle Silver Mines Inc. (“CSM”) (the “Transaction”). CSM currently owns a 100% interest in the 3,300-hectare Castle Silver Mine property, a past producer located near the northern Ontario community of Gowganda and 85km northwest of the historic Cobalt silver mining camp. Pursuant to the terms of the share purchase agreement dated April 13, 2015 (the “Original Agreement”), Takara will acquire all of the issued and outstanding common shares of CSM from Gold Bullion in exchange for 10,000,000 units of Takara issued in equal stages of 2,500,000 units over a 4-year period (each unit consisting of one common share in the capital of Takara and one common share purchase warrant exercisable at $0.10, expiring one year from the date of issuance of the units). Under the terms of the amended and restated share purchase agreement dated May 4, 2015 (the “Amended Agreement”), Gold Bullion has agreed to distribute pro rata the Takara units received pursuant to the terms of the Amended Agreement to Gold Bullion shareholders. In addition, the parties have agreed that Takara will not be obligated to issue any units, if such issuance results in Gold Bullion holding more than 20% of the then issued and outstanding common shares in the capital of Takara, unless Takara has received shareholder approval. All other terms of the Agreement remain as previously agreed.

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