Balmoral Set to Resume Drilling on Detour Gold Trend Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 29, 2014) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX:BAR) (OTCQX:BALMF) reports that crews have arrived into the Martiniere and Fenelon exploration camps on the Company's wholly owned Detour Gold Trend Project in Quebec in preparation for the commencement of the winter 2014 drill program. Initial targets for the winter program include infill and expansion drilling of the high-grade Bug Lake and related gold zones on the Martiniere Property, follow-up testing of the recently announced VMS discovery also on Martiniere, follow-up testing of the Grasset gold discovery and initial testing of a high-priority nickel-copper-platinum-palladium ("Ni-Cu-PGE") target outlined by the fall 2013 geophysical program on the Grasset Property. Current plans call for the completion of 5,000 to 6,000 metres of diamond drilling with two rigs. Balmoral's strong cash position will allow it to immediately accelerate or expand the program as warranted by early results.

"With the strong results from the fall drill program at Martiniere we are excited to get the drills up and running again as we continue to expand the high-grade core of the Martiniere Gold System," said Darin Wagner, President and CEO of Balmoral. "Outlining a large, well defined Ni-Cu-PGE target within the Project area adds another compelling element to the Balmoral story; a third leg to the stool which is already supported by expanding high-grade gold discoveries at Martiniere and emerging VMS potential."

Bug Lake Expansion and Infill Drilling - Martiniere

The winter road to the Martiniere camp is now in place and drilling is anticipated to start on the Martiniere Property within the next 10 days. Drilling will focus on infill above the 300 metre vertical depth along the Bug Lake, Footwall and Hanging Wall Gold Zones. The Zones remain open to depth and additional drilling is also planned to trace the Zones between 275-375 metres vertical depth. To date only three holes have tested below 275 vertical metres along the entire 1,000 metre strike length of the system with all three holes successfully intersecting the Bug Lake Zone.