Balmoral Announces $4.5 Million Flow-Through Private Placement

VANCOUVER, BC--(Marketwired - October 15, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Balmoral Resources Ltd. (TSX: BAR) (OTCQX: BALMF) ("Balmoral" or the "Company") announces that it is proceeding with a non-brokered private placement (the "Offering") to raise gross proceeds of up to $4,500,000 through the issuance of up to 6,000,000 flow-through shares (the "Flow-Through Shares") of the Company priced at $0.75 per Flow-Through Share. The pricing of the Offering reflects a 44% premium to the 30 day volume weighted average trading price of the Company's common shares.

The proceeds raised from the Offering will be used by the Company for further delineation of its Martiniere Gold and Grasset Nickel Discoveries, and continued exploration of its Detour Gold Trend Project located in the Province of Quebec.

Closing of the Offering is anticipated to occur on or about October 28, 2015, subject to receipt of regulatory approvals, including the acceptance of the Offering by the Toronto Stock Exchange ("TSX"). The Flow-Through Shares will be subject to a four month and one day hold period from the date of closing of the Offering under applicable securities laws in Canada.

The Company may pay a finders' fee of up to 6.0% of the gross proceeds of the Offering. No warrants are being issued in conjunction with the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.

About Balmoral Resources Ltd. - www.balmoralresources.com

Balmoral is a Canadian-based discovery company focused on the delineation of high-grade gold and nickel-copper-PGE discoveries on its wholly owned, 700+ square kilometre Detour Trend Project in Quebec, Canada. With a philosophy of creating value through the drill bit and a focus on proven productive precious/base metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian base metal and gold assets.

On behalf of the board of directors of
BALMORAL RESOURCES LTD.

"Darin Wagner"
President and CEO

This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated closing of the Offering, the use of proceeds of the Offering, size and start date of exploration programs and pace of exploration are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the uncertain nature and interpretation of geophysical models, risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.