17:01:19 EST Mon 23 Nov 2020
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Balmoral Resources Ltd
Symbol BAR
Shares Issued 178,398,041
Close 2020-03-23 C$ 0.30
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Balmoral suspends exploration in Quebec, Ontario

2020-03-24 07:35 ET - News Release

Mr. Darin Wagner reports


Following the orders of the governments of Quebec and Ontario in response to the COVID-19 pandemic, Balmoral Resources Ltd. has, effective immediately, suspended until further notice its exploration activities in both provinces.

Balmoral's head office in Vancouver was closed in response to the concerns around COVID-19 on March 12, 2020, with all staff requested to work remotely since that time. To date Balmoral and Wallbridge Mining Company Ltd., with which Balmoral shares the Fenelon exploration camp in Quebec, have reported no suspected or confirmed cases of COVID-19. The parties have had in place COVID-19 protocols to protect the work force currently in camp.

"The health and safety of our work force and our exploration partners is always paramount and as such we are making the decision, in line with the decisions by the governments of Quebec and Ontario, to suspend field operations at this time," said Darin Wagner, president and chief executive officer of Balmoral. "We would like to extend our thanks to our partner groups, suppliers and shareholders for their co-operation and understanding in this unprecedented situation."

The suspension of field operations will conclude the previously announced Fenelon winter 2020 drill program. At the time of suspension, the winter 2020 program will have come very close to reaching its initial target of 5,000 metres drilled. Drilling has focused on the Area 52 gold target, with six of the eight holes completed to date in Area 52 having successfully intersected visible gold mineralization. Final assay results from the winter 2020 drill program will be provided when they become available.

Qualified person and quality control

Michael Tucker (PGeo, B.C., Ontario, and temporary permit, Quebec), exploration manager for the company, is the non-independent qualified person for the technical disclosure contained within this release. Mr. Tucker supervised the Area 52 drill program described herein. Mr. Tucker has reviewed the drill core described herein and has approved of the technical information contained within this release.

About Balmoral Resources Ltd.

On March 2, 2020, Balmoral announced that it had entered into a definitive arrangement agreement whereby, among other things, Wallbridge is to acquire all of the issued and outstanding common shares of Balmoral in an all-stock transaction pursuant to a plan of arrangement subject to receipt of shareholder, court, regulatory and other required legal approvals.

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