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Balmoral Resources Ltd
Symbol BAR
Shares Issued 117,629,167
Close 2016-06-24 C$ 0.80
Market Cap C$ 94,103,334
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Balmoral Resources starts drilling at Detour

2016-06-27 08:07 ET - News Release

Mr. Darin Wagner reports

BALMORAL LAUNCHES SUMMER 2016 DRILL PROGRAM

Drilling has resumed on Balmoral Resources Ltd.'s Detour Trend project in Quebec. Two drills are currently active on the company's Martiniere property where their initial focus will be the continuing delineation and near-surface expansion of the southern portion of the Bug Lake gold trend. The winter drill program at Bug Lake South continued to demonstrate the presence of an extensive gold-mineralized system along the Bug Lake fault, as well as the development of a number of strongly gold mineralized zones in the hangingwall and footwall rocks proximal to the fault. Highlights included intercepts of 14.08 grams per tonne gold over 12.56 metres (including 199.00 g/t gold over 0.85 metre), 11.55 g/t gold over 4.47 metres and 3.31 g/t gold over 15.42 metres from the Upper Bug Lake and HWP zones (see news release dated May 11, 2016).

As the program progresses the company anticipates drilling a series of holes on both Bug Lake North and Bug Lake South to further extend the known mineralization to depth. Drilling to date at Bug Lake has intersected gold mineralization for 1,800 metres along strike and to depths of approximately 400 metres, in the Bug Lake North area (see news release dated May 12, 2014). The system remains open to depth on all sections tested to date and along strike to the south toward the regional Sunday Lake deformation zone which hosts the Detour Lake gold mine 45 kilometres to the west, one of Canada's largest gold mines.

In addition, drilling will test a number of targets developed from modelling of winter geophysical results along the recently discovered, east-west-trending Finger Lake (Lac du Doigt) gold trend on the Martiniere property. Balmoral confirmed the discovery of gold mineralization along the Finger Lake trend in 2015 and conducted an extensive geophysical survey across a five-kilometre-long segment of the trend during this past winter in preparation for summer drilling. The Finger Lake gold trend runs parallel to the Sunday Lake deformation zone, with the company's Bug Lake and Martiniere West gold zones developed between these two deformation corridors.

Balmoral also plans to resume testing of the Detour East property during the current program. The Detour East property sits 10 kilometres east of the Detour Lake gold mine and covers approximately 20 kilometres of the Sunday Lake deformation zone which hosts the mine. It also cover over 15 kilometres of the Lower Detour/Massicotte deformation zone which hosts Detour's recent 58N high-grade gold discovery. Gold mineralization has been intersected within the latter structure for over 13 kilometres -- the Lynx-Rambo trend -- across the Detour East property in historic, shallow drilling. The upcoming program will be the first significant testing of the Lower Detour/Massicotte deformation zone by Balmoral since acquiring the Detour East property in 2010.

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 Martiniere and Detour East properties since their inception, visited the properties on multiple occasions, reviewed the results with senior on-site geological staff, and reviewed the available analytical and quality control results produced by historic operators and Balmoral.

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