Mr. Darin Wagner reports

BALMORAL ANNOUNCES CLOSING OF $10.0 MILLION FLOW-THROUGH PRIVATE PLACEMENT

Balmoral Resources Ltd. has closed the previously announced (see NR14-25 dated Oct. 15, 2014) flow-through private placement with a syndicate of underwriters led by Canaccord Genuity Corp. and including RBC Capital Markets and PI Financial Corp. The company has issued 5.9 million flow-through common shares at a price of $1.70 per flow-through common share for gross proceeds $10.03-million.

The proceeds raised from the offering will be used by the company for further exploration of its Detour gold trend project and other properties located in the province of Quebec.

In consideration of the underwriters' services, the company has agreed to pay the underwriters a cash commission of 5.0 per cent of the gross proceeds of the offering. The underwriters will also receive broker warrants equal to 4.0 per cent of the offered securities sold pursuant to the offering. Each broker warrant entitles the holder to acquire one common, non-flow-through, share of the company at a price of $1.45 until the date that is 12 months from the closing of the offering.

We seek Safe Harbor.