Balmoral continues to expand Martiniere Gold System, intersects 139 g/t (4.05 oz/t) gold over 1.00 metre (3.28 Feet) in ME-16/23 area

Tuesday, Oct 16, 2012

Balmoral Resources Ltd. (TSX VENTURE:BAR)(OTCQX:BALMF) ("Balmoral" or the "Company") today reported a number of additional high grade gold intercepts from seven holes completed in the ME-16/23 area of the Company's Martiniere Property during the summer drill program. The ME-16/23 area, located up to 1,500 metres northeast of the Martiniere West Zone and 350 metres northeast of the Bug Lake Zone, marks the northeastern most portion of the Martiniere Gold System tested to date.

Today's results confirm that Martiniere Gold System remains open to the northeast and to depth beyond the limits of current and historic drilling. Reported intercepts continue to indicate the presence of broad zones of anomalous gold mineralization surrounding high to multi-ounce, bonanza grade gold intercepts throughout the System. The Martiniere Property forms part of the Company's Detour Gold Trend Project which spans over 82 kilometres along the Sunday Lake Deformation Zone in Quebec.

Drill results were highlighted by a one metre, 139.00 g/t gold intercept from drill hole MDE-12-56, which tested the down dip extension of a high grade intercept (41.22 g/t gold over 2.50 metres) from hole MDE-12-20 (see NR12-09, Mar. 29, 2012). Additional high-grade results from hole MDE-12-57 and holes MDE-12-37 and MDE-12-38, the latter two collared approximately 65 metres southwest of MDE-12-56 (see updated hole location map at http://media3.marketwire.com/docs/bar1015i.pdf or www.balmoralresources.com), and from previous drilling in this area extend the mineralized ME-16/23 trend to over 120 metres along strike and to a depth of over 140 vertical metres. Localized faulting, and the presence of a number of porphyry dykes in the area, will necessitate more detailed drilling in order to confirm the orientation and continuity of the intercepts along this trend.

Source: Marketwire