Build creation fails in Visual Studio for test written using selenium references
As @Arran stated.. The evidence suggests that you really do not have the appropriate assembly references.
Excerpt from the WebDriver Documentation -
As of Selenium 2.2.0, the C# bindings are distributed as a set of signed dlls along with other dependency dlls. Prior to 2.2.0, all Selenium dll’s were unsigned. To include Selenium in your project, simply download the latest selenium-dotnet zip file from https://code.google.com/p/selenium/downloads/list. If you are using Windows Vista or above, you should unblock the zip file before unzipping it: Right click on the zip file, click “Properties”, click “Unblock” and click “OK”.
Unzip the contents of the zip file, and add a reference to each of the unzipped dlls to your project in Visual Studio (or your IDE of choice).
Problem resolved.
While creating a build definition, under 'Process', in 'items to build' we need to set proper 'configurations'. Using 'Configurations' as 'release' and platform as 'x86' or according to your CPU will resolve the problem.