Balmoral receives Northshore property drilling update

Thursday, Nov 22, 2012

Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX VENTURE:BAR)(OTCQX:BALMF) today received initial Phase 3 drill results from its Northshore Property located in the Hemlo greenstone belt in Ontario. Results indicate an expansion of the broad Afric, and higher grade internal Audney, gold zones to the southwest. Hole WB-12-27, the southwestern-most hole reported, returning an intercept of 132.00 metres grading 0.71 g/t gold and an Audney vein intercept of 31.60 g/t gold over 0.50 metres. Hole WB-12-27 contained several additional high-grade vein intercepts.

Drill hole WB-12-24, the only hole of the program to test the Caly vein system, appears to have intersected the Caly vein near the top of the hole with a one metre interval, starting at 9.00 metres down the hole, returning 7.88 g/t gold.

Exploration on the Northshore Property is being funded by, and is under the direction of, GTA Resources and Mining Inc. ("GTA") under an option earn-in agreement. Results from an additional 8 holes, completed as part of the Phase 3 drill program, remain pending. An updated plan map showing collar locations and drill hole traces is available on the Company's website at www.balmoralresources.com.

Quality Control and Assurance

The planning, execution and monitoring of exploration programs on the Northshore Project are under the supervision of Mr. Robert (Bob) Duess, P. Geo. (Ontario), V.P. Exploration of GTA. Mr. Duess is a qualified person as defined by National Instrument 43-101 and is the Qualified Person for this release. Mr. Duess has supervised the work programs on the Northshore Property, supervised the collection of the samples and drill core described herein and reviewed the assays and QA/QC data. Mr. Duess has also reviewed and approved this release.

GTA has implemented a quality control program for the drill programs on the Northshore Property to ensure best practice in sampling and analysis. GTA maintains strict quality assurance/quality control protocols including the systematic insertion of certified standard reference and blank materials into each sample batch. Analyses in this release were performed by AGAT Laboratories Ltd. of Sudbury, Ontario, which has ISO 17025 accreditation. Samples are transported in security sealed bags to AGAT and all samples were assayed using industry-standard assay techniques for gold. Gold was analyzed by a standard 30 gram fire assay with an ICP and/or gravimetric finish.

Source: Marketwire