Balmoral Provides Exploration Update - Seite 3

Balmoral anticipates completing 5-7 drill holes in the Lac Hugo area before transferring the second drill to the Grasset Nickel discovery for the balance of the fall drill season. This limited drill program will provide much needed geological information in an area of complete overburden cover and assist on-going evaluation of the Lac Hugo target and other exploration targets in the eastern portion of the Grasset Property.

The summer 2014 exploration program remains on schedule and on-budget.

Jeremie 8 Property

The 8 recently staked claims which comprise the Jeremie 8 Property have been accepted and registered by the Quebec government. The Company has, as per the agreement announced on July 31, 2014 (see NR14-17) issued 7,000 shares to the property vendor and acquired a 100% interest in the claims, which are located at the northern end of Balmoral's Jeremie Property. The Jeremie 8 claims are subject to a 1% NSR royalty in favour of the vendor. Balmoral has the right, at any time, to purchase 50% of the royalty from the vendor for $1,000,000 and has a right of first refusal on any sale or transfer by the vendor of the royalty interest. The shares issued are subject to a four month hold period expiring December 30, 2014.

QP and Quality Control

Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the non-independent qualified person who has approved the scientific and technical information contained in this news release. Mr. Wagner has supervised the work programs on the Company's properties, visited the properties on multiple occasions, has examined the drill core or photos of same from the holes summarized in this release, reviewed the results with senior on-site geological staff and reviewed the available analytical and quality control results.

Balmoral employs a quality control program for all of its drill programs, to ensure best practice in the sampling and analysis of drill core. This includes the insertion of blind blanks, duplicates and certified standards into the sample stream. NQ-sized drill core is saw cut with half of the drill core sampled at intervals based on geological criteria including lithology, visual mineralization and alteration. The remaining half of the core is stored on-site at the Company's Fenelon field camp in Central Quebec. Drill core samples are transported in sealed bags to ALS Minerals Val d'Or, Quebec analytical facilities. Base metal analyses were initially obtained via ICP-AES with both Aqua Regia and 4 Acid digestion employed. The two digestion methods show good correlation. Nickel values in excess of 10,000 ppm are reanalyzed using a sodium peroxide fusion followed by ICP-AES finish. PGE values were obtained via industry standard fire assay with ICP-AES finish using 30 g aliquots. Following receipt of assays, visual analysis of mineralized intercepts is conducted and additional analysis may be requested. ALS Minerals is ISO 9001:2008 certified.