Mr. Darin Wagner reports

BALMORAL RESOURCES LTD (TSX:BAR) INTERSECTS 57.88M @ 1.85% NI, 0.21% CU, 0.40 G/T PT AND 0.97 G/T PD, SHOWING HIGHEST GRADE TO DATE

Balmoral Resources Ltd. has released results for an additional 12 holes testing the Horizon 3 nickel-copper-platinum-group-element discovery on the company's wholly owned Grasset property in Quebec. In addition to extending the Horizon 3 sulphide zone to a depth of 350 vertical metres, today's results continue to feature broad intervals of nickel sulphide mineralization throughout the discovery area and include the highest-grade intercept to date from Grasset. Hole GR-14-57 returned a very broad Horizon 3 intercept of 57.88 metres grading 1.85 per cent nickel, 0.21 per cent copper, 0.40 gram per tonne platinum and 0.97 gram per tonne palladium, which includes a high-grade interval of 20.63 metres grading 3.47 per cent Ni, 0.40 per cent Cu, 0.79 g/t Pt and 1.92 g/t Pd. This high-grade interval is capped by, and includes, a previous reported 1.51-metre-thick interval of massive sulphide, which returned 14.96 per cent Ni, 0.74 per cent Cu, 3.03 g/t Pt and 5.61 g/t Pd -- further emphasizing the very high nickel tenure of the Horizon 3 sulphide mineralization.

Reported intercepts also begin to demonstrate the continuation of high-grade nickel sulphide mineralization to the northwest of the previously intersected fault/disruption corridor. Strong Horizon 3 intercepts are reported from holes GR-14-54 (including 3.82 metres grading 4.01 per cent Ni within a broader mineralized intercept); GR-14-60, which returned 33.80 metres grading 1.44 per cent Ni, 0.17 per cent Cu, 0.31 g/t Pt and 0.80 g/t Pd; and GR-14-56, which features a 0.85-metre, fault-bound, massive sulphide intercept, which returned 10.58 per cent Ni, 1.23 per cent Cu, 2.49 g/t Pt and 6.41 g/t Pd.

"Today's results continue to demonstrate the broad widths and very high nickel-PGE tenure of the Horizon 3 sulphide zone and expand the discovery to depth were it remains open," said Darin Wagner, president and chief executive officer of Balmoral. "Results from an additional eight holes are expected before year-end, and we look forward to an exciting year ahead as we continue the delineation of the Horizon 3 discovery and begin the process of evaluating the balance of the Grasset ultramafic complex for additional zones of nickel-copper-PGE mineralization."

Reported drill intercepts have now traced the Horizon 3 discovery to a vertical depth of 350 metres and for a similar distance along strike. The upper portion of the Horizon 3 sulphide zone in hole GR-14-59 was terminated/removed by the porphyry fault. This hole confirms a southerly dip to the fault, with the fault block hosting the bulk of the intercepts to date, broadening at depth. Hole GR-14-55 may have intersected a fault, which is currently interpreted to terminate the lower contact of the mineralized intervals in holes GR-14-22 and -23 located to the northwest. Additional drilling will be required to evaluate this interpretation and the orientation and offset on this feature.

Hangingwall gold mineralization

Drilling continues to intersect a number of intervals of anomalous to locally high-grade gold mineralization, developed in sheared and strongly altered volcanic rock in the hangingwall to, or within the uppermost portion of, the Grasset ultramafic complex. Gold mineralization occurs in quartz plus/minus carbonate veins within a sequence of sericite-carbonate-fuchsite-silica altered mafic and felsic volcanic rocks immediately in the hangingwall to the GUC or in isolated quartz-carbonate-talc veins cutting the GUC. Results from the holes released include an intercept grading 14.12 g/t gold over 1.90 metres in drill hole GR-14-58. Similar high-grade gold mineralization occurs at the company's Fenelon gold zone located six kilometres to the west of the area currently being tested. The gold mineralization at Fenelon is also associated with quartz-carbonate veins hosted by, or proximal to, an ultramafic sill interpreted as part of the GUC.

Drilling will resume at Grasset in early 2015 with a goal of further delineating the Horizon 3 discovery and testing a number of promising targets elsewhere in the GUC. The company will provide additional details on its recently completed low-level mag/EM survey over the entirety of the GUC and surrounding areas as results and interpretations are completed.

Qualified person and quality control

Darin Wagner, PGeo, president and chief executive officer 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 Grasset property, visited the property 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, Que., analytical facilities.

Base metal analyses were initially obtained through ICP-AES with both aqua regia and four-acid digestion employed. The two digestion methods show good correlation. Nickel values in excess of 10,000 parts per million are reanalyzed using a sodium peroxide fusion followed by ICP-AES finish. PGE values were obtained through industry-standard fire assay with ICP-AES finish using 30-gram aliquots. Gold analyses are obtained through industry-standard fire assay with atomic absorption finish using 30-gram aliquots. For samples returning greater than 5.00 g/t gold, follow-up fire assay analysis with a gravimetric finish is completed. The company has also requested that any samples returning greater than 10.00 g/t gold undergo screen metallic fire assay.

Following receipt of assays, visual analysis of mineralized intercepts is conducted, and additional analysis may be requested. ALS Minerals is ISO 9001:2008 certified, and the Val d'Or facilities are ISO 17025 certified for gold analysis. The company has contracted an independent quality control expert to supervise its quality assurance/quality control program.