Balmoral Reports Further Expansion, New High Grade Discoveries Within Afric Gold System, Northshore Property, Ontario

Balmoral Resources Ltd. (BAR.V) today reported results from eight holes completed on the Company's Northshore Property in Ontario. The intercepts reported today expand the Afric Gold Zone along strike to the northeast and to depth. Results continue to point to the presence of several high-grade gold bearing structures within a very broad corridor of anomalous gold mineralization.

Highlights from today's release include:

Hole WB-12-29 which returned two broad intercepts of anomalous gold mineralization including two new high-grade discoveries (9.15 g/t gold over 3.00 metres and 9.78 g/t gold over 5.00 metres), expanding the Afric Zone to the northeast into an area of limited historic drilling.

Hole WB-12-33 which returned an average grade of 1.37 g/t gold over 68.00 metres (including 12.16 g/t gold over 4.00 metres), representing one of the deepest intersections on the Property to date and indicating the Afric Zone remains open at depth.

Several bonanza grade intersections including: 66.50 g/t gold over 0.50 metres (WB-12-33), 50.90 g/t gold over 0.50 metres and a second deeper intercept of 50.90 g/t gold over 0.50 metres (WB-12-29), and 20.10 g/t gold over 1.00 metre (WB-12-29).

The gold mineralization hosted within the Afric Intrusive Complex has been partially defined over an area exceeding 450 metres in strike length and to depths in excess of 390 vertical metres.

Shares are up 3.5% to $1.19, bringing it nearer a yr high of $1.26. Shares hit a high of $1.23 earlier.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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