Mr. Darin Wagner reports

BALMORAL ANNOUNCES CLOSING OF $3.46 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH COMMON SHARES

Balmoral Resources Ltd. has closed the previously announced (see news release dated Aug. 16, 2017) non-brokered Quebec flow-through private placement. Upon closing, the company issued 3,843,333 Quebec flow-through common shares, at a price of 90 cents per Quebec flow-through share, for gross proceeds of $3,458,999.70. The flow-through common shares issued will be subject to a four-month-and-one-day hold period from the date of closing of the offering under applicable securities laws in Canada.

The gross proceeds from the Quebec flow-through offering will be used by the company to continue the exploration of its Detour gold trend project located in the province of Quebec, including the further delineation and expansion of the numerous gold deposits located within the Martiniere gold system. The company has agreed to pay certain finders cash fees of $182,924.99.

Common share offering

In addition, the company is pleased to announce that it has arranged for a non-brokered private placement of common shares with four institutional investors located in the province of Quebec: the Caisse de depot et placement du Quebec/Sodemex (CDPQ), Fonds regionaux de solidarite FTQ, Sidex Limited Partnership and the Societe de development de la Baie-James (SDBJ). The private placement will raise up to an additional $2-million through the issuance of up to 3,448,276 common shares of the company at a price of 58 cents per common share.

The company may pay certain participants administrative fees of up to 4 per cent of the gross proceeds of the common share offering.

The closing of the common share offering is anticipated to occur on or before Oct. 10, 2017. The common share offering is subject to certain conditions, including receipt of regulatory approvals, including the acceptance of the common share offering by the Toronto Stock Exchange. The common shares to be issued under the terms of the common share offering will be subject to a four-month hold period under applicable securities laws in Canada.

The net proceeds from the common share offering will be used by the company to further continue its exploration of the Detour gold trend project and for general working capital purposes.

About Balmoral Resources Ltd.

Balmoral is a well-financed, Canadian-based company actively delineating and expanding numerous gold deposits and discoveries within the Martiniere gold system on its 1,000-square-kilometre Detour gold trend project in Quebec, Canada. The Detour gold trend project also hosts Balmoral's Grasset nickel-copper-cobalt-platinum-group-element deposit as well as numerous other gold and base metal occurrences.

We seek Safe Harbor.