Mr. Darin Wagner of Balmoral reports

BALMORAL REPORTS FURTHER EXPANSION OF AFRIC GOLD ZONE, NORTHSHORE PROPERTY, ONTARIO

Balmoral Resources Ltd. has been advised by GTA Resources and Mining Inc. that initial results from the phase 4 drilling program on the company's Northshore property located near Schreiber, Ont., have successfully continued to expand the Afric gold zone. Results reported today confirm the presence of a northeast extension of the mineralized system into an area which has seen little historic testing. Results also continued to demonstrate broad zones of gold mineralization along the previously defined east-northeast-trending portion of the Afric gold zone, including 1.47 grams per tonne gold over 70.0 metres in hole WB-13-38. Drilling also continues to intersect a series of higher-grade gold-bearing structures within the broader Afric zone along both the Northeast and East limbs of the system (see attached table).

                       Hole                     Interval                    
Hole                  depth     From       To        (i)     Gold           
No.                 (metres) (metres) (metres)   (metres)    (g/t)        Target    

WB-12-36                227     22.0     32.0       10.0     0.66 East extension 
                                  64       68        4.0     1.43           
                                  94       95        1.0      3.3           
WB-13-37                170     80.0    123.5       43.5     1.40 East extension 
including                       88.0    101.0       13.0     2.50           
and                            122.0    123.5        1.5     14.2           
WB-13-38                212    110.5    180.5       70.0     1.47 East extension 
including                      110.5    112.5        2.0    12.28           
WB-13-39                218     29.8     64.0       34.2     1.35      Northeast 
                                                                       extension      
including                       46.0     54.0        8.0     4.77           
WB-13-40                152     73.0    122.0       49.0     0.53      Northeast 
                                                                       extension      
including                       73.0     74.0        1.0     5.63           
and                            101.0    102.5        1.5     7.97           
and                            121.0    122.0        1.0     3.33           

(i) Reported drill intercepts are not true widths. At this time there are    
    insufficient data with respect to the shape of the mineralization to        
    calculate true orientations in space.

Highlights

A new plan map showing the location of the holes released today, along with a schematic cross-section through the East and Northeast limbs of the Afric gold zone are available on the company's website. Results from an additional four holes remain pending, and drilling is anticipated to resume on the property following spring breakup.

East extension

Highlights from three holes (WB-13-36, -37 and -38) completed along the eastern extension of the Afric zone include 2.50 grams per tonne gold over 13.0 metres (within a broader zone of 1.4 g/t gold over 43.5 metres) in hole WB-13-37 and 12.28 g/t gold over 2.0 metres (within a broader zone of 1.47 g/t gold over 70.0 metres) in hole WB-13-38. These holes, drilled approximately 50 metres and 100 metres respectively below a previously drilled shallow intersection of 1.51 g/t gold over 50.8 metres (hole WB-12-29), help confirm the strike continuity of the East extension for a distance of 170 metres from the historic core of the Afric zone and the depth continuity to a vertical depth of approximately 150 metres in this area. Hole WB-13-36 was drilled 70 metres farther east from the above-described section and intersected anomalous gold (0.66 g/t gold over 10.0 metres) along the interpreted trend of the East extension.

Northeast extension

Holes WB-13-39 and 40 tested the Northeast extension approximately 130 metres northeast from the historic core of the Afric zone and were successful in intersecting the northeast continuation of the zone. The upper hole (WB-13-39) intersected 4.77 g/t gold over 8.0 metres within a broader zone of 1.35 g/t gold over 34.2 metres. Hole WB-13-40 tested the zone 50 metres below and intersected 7.97 g/t gold over 1.5 metres within a 49.0-metre zone assaying 0.53 g/t gold.

Gold mineralization on the Northshore property is hosted within a sequence of felsic intrusive and lesser volcanic rocks. The Afric zone is characterized by strong fracturing, moderate to locally strong alteration, disseminated sulphide mineralization and locally abundant visible gold. The mineralization is most similar to that associated with porphyry-style gold deposits and remains open in several directions. High-grade mineralization typically occurs in quartz veins and veinlets hosted by north-northeast-trending fracture sets within the broader Afric zone. Additional high-grade vein systems on the property, including the one associated with the former-producing Northshore mine, also remain to be evaluated.

Located immediately south of the town of Schreiber, Ont., within the Hemlo-Schreiber greenstone belt, the Northshore property is currently 100 per cent owned by Balmoral and under option to GTA. GTA can earn an initial 51-per-cent interest in the property under the terms of an option agreement between the companies (see news release dated July 27, 2011). Balmoral currently controls approximately 8.0 per cent of the issued and outstanding shares of GTA, and holds the shares for investment purposes.

Quality assurance/quality control

GTA is the operator of the Northshore project, and as operator has generated and provided the information herein to Balmoral. As operator, GTA is responsible for the planning, timing, execution and monitoring of exploration programs on the Northshore project, which is under the supervision of Robert (Bob) Duess, PGeo (Ontario), vice-president of exploration of GTA. Mr. Duess is a qualified person as defined by National Instrument 43-101 and is also the qualified person for this release. Mr. Duess has supervised the work programs on the Northshore property, supervised the collection of the samples and drill core described herein, and reviewed the assays and QA/QC data. Mr. Duess has also reviewed and approved this release.

GTA has implemented a quality control program for the drill programs on the Northshore property to ensure best practice in sampling and analysis. GTA maintains strict quality assurance/quality control protocols including the systematic insertion of certified standard reference and blank materials into each sample batch. Analyses in this release were performed by AGAT Laboratories Ltd. of Sudbury, Ont., with ISO 17025 accreditation. Samples are transported in security sealed bags to AGAT, and all samples were assayed using industry-standard assay techniques for gold. Gold was analyzed by a standard 30-gram fire assay with an ICP and/or gravimetric finish.

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