Balmoral Resources Ltd.
TSX VENTURE : BAR

Balmoral Resources Ltd.

July 14, 2011 08:00 ET

Grasset Gold Discovery Leads to Further Expansion of Balmoral's Detour Trend Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2011) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX VENTURE:BAR) announced today that as a result of the recent discovery of a new gold system on its wholly owned Grasset Property, it has further expanded its property position along the Detour Gold Trend ("DGT") in central Quebec. Balmoral has acquired, by staking, an additional 243 claim units covering a further 12 kilometres of the Detour/Sunday Lake Deformation Zone ("DSDZ") and surrounding prospective targets. The new claims will form part of the expanded Grasset Property and Balmoral's district scale Detour Gold Project.

On July 7, 2011 (see NR11-14) Balmoral announced the discovery of a significant new zone of gold mineralization on the Grasset Property located along the DSDZ. This new discovery returned higher-grade gold intercepts of 6.15 g/t gold over 4.04 metres and 4.18 g/t gold over 5.00 metres within a broader zone of gold mineralization which returned 1.66 g/t gold over 33.00 metres. The mafic intrusion hosted gold bearing quartz-carbonate vein system at Grasset occurs in a setting strongly analogous to several of the large gold deposits in the Timmins and Kirkland Lake gold camps located further south in the Abitibi Greenstone Belt. The Grasset discovery is located 4.0 kilometres from any historic drilling.

The newly acquired claims cover the intersection of at least two additional large magnetic anomalies and the DSDZ. Balmoral's geologists interpret these features to be mafic/ultramafic intrusive bodies similar to those which host the Company's Martiniere West, Grasset and Fenelon gold zones and the multi-million ounce Detour Gold deposit elsewhere along the DGT. There is no historic drilling over most of the new property position acquired by Balmoral.

Balmoral now controls a land package which extends for over 82 kilometres along the DGT, the least explored of the major gold bearing trends in the Abitibi Greenstone Belt - North America's most prolific gold producing region.

"The Grasset gold discovery and Balmoral's other active gold projects in Quebec clearly indicate the potential of the DSDZ to host significant gold mineralization along its entire length," said Darin Wagner, President and CEO of Balmoral Resources. "The geological similarities of the DGT to the multi-million ounce Timmins, Kirkland Lake and Val d'Or gold camps located further south in the Abitibi are numerous and Balmoral is now positioned to control this prospective trend over a length that would equal or exceed the core portions of any of these famous gold camps."

Balmoral has now resumed drill testing of its Martiniere West high-grade gold zone and a second drill is anticipated on site within the next several days. Permitting is now underway for a 20+ hole, 6,000 metre diamond drill program to further test and expand the new Grasset discovery which the Company anticipates could begin in early to mid-August.

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 and has reviewed and approved the disclosure herein. 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, the anticipated issuance of drilling permits, 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 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 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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