Gold Bar Development & Consulting Ltd. Announces Shareholder Update

Hamilton, Bermuda – 9 September 2015 – Gold Bar Development & Consulting Ltd. (the “Company”, “Gold Bar”; BSX Ticker: GOLD.BH, Frankfurt Ticker: B7GN) announces its progress in 2015 with respect to mining and funding, as well as its updated plan for the remainder of 2015 and 2016.

During the first eight months of 2015, the Company had to temporarily suspended its mining operations on multiple occasions due to equipment malfunctions and numerous delays in funding. Gold Bar has now purchased the parts needed to resume mining, and is in the process of making the necessary equipment repairs.

As of September 3, 2015, the Company only received approximately €150K of the €4.4M funding commitment which was supposed to be received on or before May 1, 2015. This put a tremendous strain on management, as the Company needed to put multiple projects on hold and operate with limited resources. As a result, Gold Bar terminated the respective agreement on September 3, 2015 and entered into a six month funding commitment for €4.2M with another company. Gold Bar anticipates receiving €2M of the commitment in the fourth quarter of 2015 and the remaining balance of €2.2M in the first quarter of 2016.

Gold Bar has been in business since 2012 and has generated close to $1M in revenues to date. The Company has made significant progress developing relationships in Guyana and identifying opportunities within the country. With the decrease in the price of gold over the past two years, many junior mining companies have been put under pressure. The Company plans to become a strategic partner in the local mining community by using a portion of its funding to help revive some of the local mining camps which are currently stalled, and provide them with fuel and equipment necessary to get up and running again. Many local miners and claim holders have already expressed interest in forming partnerships with Gold Bar.  This is advantageous, as the Company can gain additional streams of revenue through partnerships while focusing on building its core mining crews. Additionally, in the next 6 months Gold Bar plans on investing $1M in new equipment and hiring 30 additional workers. Gold Bar forecasts this investment will increase average monthly gold production to 400 ounces or 4,800 ounces per year (approximately $5.3M @ $1,100 per ounce). This projection is based on the assumptions that the recovery rate will increase from 40% to 90% and that Gold Bar will be able to run twice as much material by using newer more efficient equipment, as well as the assumption that overall production will grow 300% by increasing the total number of mining crews from 1 to 4.  For more detail on these assumptions as well as the most recent 3-year financial projections, please visit www.GoldBarLtd.com.

Gold Bar continually strives to be an attractive long-term investment and provide shareholders with consistent and stable returns.

About Gold Bar Development & Consulting Ltd.:

Gold Bar Development & Consulting Ltd. is a Bermuda based Gold
Exploration & Consulting Company with significant holdings deep in the Gold Rich Jungles of Guyana, South America.

Guyana has one of the largest mineral deposits in the world. The Company currently concentrates on surface mining of a layer of approximately one meter. In order to maximize revenues, the Company combines the team´s experience with the latest technologies. The extracted gold is sold to the Guyana Gold Board. The Company plans to utilize a portion of its profits on exploration work to determine the presence of gold that is embedded in rocks below the surface.

Gold Bar also offers consulting services to other mining companies that want to start business in Guyana or mining companies that want to expand their operations in Guyana. By supporting other mining companies financially and logistically, Gold Bar can enter into joint ventures and participate in revenues. The possibility to share resources enables Gold Bar to generate a short-term Return-of-Investment.

Forward-Looking Information

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the estimation of mineral resources. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the receipt of applicable regulatory approvals, risks related to the debt facility proceeding, risks related to the final findings and assumptions set forth in the Technical Report, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Company Contact:

Gold Bar Development & Consulting Ltd.

Saratu Phillips, CEO of Gold Bar Development & Consulting Ltd.

Bryan Bardes, CFO of Gold Bar Development & Consulting Ltd.

Telephone +1-855-419-4653

Address:

Veritas Place

65 Court Street, Hamilton HM 12, Bermuda

Bermuda Listing Sponsor:

Cohort Limited.

Mrs. Tracy Packwood             Tel: (441) 295 2043

Email: info@cohort.bm

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