Mr. Darin Wagner reports

BALMORAL RECEIVES FIRST OPTION VESTING NOTICE FROM GTA ON NORTHSHORE PROPERTY, ONTARIO

Balmoral Resources Ltd. has received a first option vesting notice under the Northshore property agreement (see the news release dated July 27, 2011) from GTA Resources and Mining Inc. Under the terms of the agreement, GTA, which has been the operator on the property since 2011, has the right under the first option to earn a 51-per-cent interest in the Northshore property from Balmoral subject to making a series of cash and share payments and completing $2.5-million in expenditures on the property. Balmoral has received the required cash and share payments and is currently reviewing the expenditure statement provided by GTA, which, if accepted, will trigger formal vesting of GTA's first option interest in the property. The company anticipates it will complete its review within the next 10 to 12 days. Under the terms of the agreement, GTA will have 30 days from vesting of the first option interest (51 per cent) to decide whether or not to proceed with a second option and acquisition of an additional 19-per-cent interest in the Northshore property. Should GTA decide to proceed with the second option, it will immediately deliver to Balmoral $100,000, 1.0 million common shares and be required to undertake $3.0-million in additional expenditures on the Northshore property over the next 24 months in order to vest the second option interest. If GTA elects not to proceed with the second option, a 51-49 participatory joint venture will be formed with respect to further work on the Northshore property, with GTA as the initial operator. Located immediately south of the town of Schreiber, Ont., in the Hemlo greenstone belt, the Northshore property is home to the Afric gold zone and former producing Northshore gold mine. Balmoral currently controls approximately 11.4 per cent of the issued and outstanding common shares of GTA.

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