Balmoral Resources Ltd.
TSX VENTURE : BAR

Balmoral Resources Ltd.

February 28, 2011 08:00 ET

Balmoral Continues to Expand Detour Trend Land Position

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2011) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX VENTURE:BAR) announced today that it has further expanded its property position along the Detour Lake Gold Trend in central Quebec via the acquisition, by staking, of 176 claims covering approximately 97.3 square kilometres. The newly acquired claims are adjacent to, and now connect, the Company's Martiniere and Fenelon gold projects. Drilling is on-going on both projects (see drilling update below). A map detailing Balmoral's latest acquisitions will be made available on the Company's website, www.balmoralresources.com, once the claim positions have been finalized and geological interpretation completed. 

"Based on our review of historic exploration activities and the initial geological interpretation obtained from our on-going drill program on the Fenelon and Martiniere properties, Balmoral has elected to acquire the majority of the land located north of the Sunday/Detour Lake Deformation Zone over an 80 kilometre stretch in Quebec," said Darin Wagner, President and CEO of Balmoral Resources. "With the continued expansion of the Detour Lake gold system, and based on initial geological encouragement from our projects in Quebec, we believe the Detour Lake Trend has the potential to join the major gold bearing systems within the Abitibi which include the prolific Timmins, Kirkland Lake, Val d'Or, Rouyn-Noranda and Casa Berardi gold camps." 

Exploration Update

Drilling on Balmoral's Fenelon and Martiniere gold projects, both located along the Detour Lake Gold Trend, continues. As part of its Phase 1 2011 program Balmoral has so far completed 14 of a planned 36 diamond drill holes on the Fenelon high-grade gold project and an additional 7 of a planned 20 holes on the nearby Martiniere gold project. To date approximately 2,500 samples have been submitted for gold and multi-element analysis. Initial analytical results from each of the Fenelon and Martiniere projects are anticipated within the next 2-4 weeks. 

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 properties, visited the properties on multiple occasions and reviewed the technical documents from each of the properties.

About Balmoral Resources Ltd. (www.balmoralresources.com)

Balmoral Resources Ltd. is a Vancouver-based precious metal exploration and development company focused on district scale precious metal 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 in Canada, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and expansion of high-grade gold resources.

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 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 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 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.

Neither 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.

Contact Information