Balmoral Resources Ltd.

Balmoral Resources Ltd.

September 07, 2011 08:00 ET

Balmoral Commences Follow-Up Drilling of Grasset Gold Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX VENTURE:BAR) announced today it has received the necessary approvals and commenced follow-up drilling of its recent Grasset gold discovery on its Detour Gold Trend Project in Quebec. The discovery hole at Grasset intersected a broad zone of anomalous gold mineralization, 33.00 metres grading 1.66 g/t gold, centered around two higher grade intercepts of 4.04 metres grading 6.15 g/t gold and 5.00 metres grading 4.18 g/t gold (see NR11-14; July 7, 2011: Results from expanded sampling of discovery hole GR-11-01 remain pending.

Discovery hole FAB-11-44 (now renamed GR-11-01), Balmoral's first on the Grasset Property, was collared over four kilometres east of any historic drilling along the Detour-Sunday Lake Deformation Zone ("DSDZ"). The Grasset discovery is located just off the end of the existing road network, 8.8 kilometres east of the Company's Fenelon Gold Zone and 3 kilometres southeast of the Fenelon exploration camp. The quartz-carbonate vein hosted gold mineralization at Grasset occurs within a rock sequence which displays very strong similarities to those hosting multi-million ounce gold deposits within the southern portion of the Abitibi greenstone belt of Quebec and Ontario.

The Company has permitted 27 drill sites on the Grasset and adjacent Fenelon properties to follow up the discovery. Several holes will be completed over the next 3-4 weeks with additional follow-up drilling to continue after freeze-up. The permitted sites include several widely spaced sites along the DSDZ east and west of the Grasset discovery. These targets will be tested as part of the Company's on-going target generation program over the coming weeks.

The Grasset and Fenelon Properties form part of Balmoral's district scale Detour Gold Trend Project. The Project extends for over 80 kilometres along the regional gold-bearing Detour-Sunday Lake Deformation Zone, which hosts the multi-million ounce Detour Gold deposit in Ontario. Balmoral's Detour Gold Trend Project includes the Martiniere West, Central and East Gold Zones (where drill testing continues), the high-grade Fenelon Zone, the Lynx and Rambo prospects on the Detour East Property and the new Grasset discovery. By systematically employing modern exploration technologies and models to the least explored of the major gold trends in the Abitibi Greenstone Belt, Balmoral is looking to build on its initial successes and continue to create shareholder value through resource expansion and discovery.

Quality Control

Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the non-independent qualified person for the technical disclosure contained in this news release. Mr. Wagner has supervised the initial work programs on the Grasset Property, visited the Property on multiple occasions, examined drill core from the hole summarized in this release and reviewed the analytical and quality control results. For additional discussion of Balmoral's QAQC procedures (see NR11-14; July 7, 2011:

About Balmoral Resources Ltd. –

Balmoral is a Vancouver-based precious metal exploration and development company focused on district scale gold opportunities in politically favourable jurisdictions in North America. With a philosophy of creating value through the drill bit and with a focus on proven productive precious metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through resource expansion and discovery.

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 content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, 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 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 and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.

This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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