Balmoral Confirms and Expands Three High-Grade Gold Zones in

Balmoral Confirms and Expands Three High-Grade Gold Zones in Bug Lake
Area, Martiniere Property, Quebec 
- Initial Long Sections for Footwall, Hanging Wall and Bug Lake Zones
now available 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/31/12 -- Balmoral
Resources Ltd. ("Balmoral" or the "Company") (TSX
VENTURE:BAR)(OTCQX:BALMF) today reported that the results for the
remaining 17 holes from the summer drill program on the Company's
Martiniere Property have confirmed the very high-grade nature of the
Footwall discovery, demonstrated continuity to the high-grade Hanging
Wall Zone and have also continued to expand the broad Bug Lake Gold
Zone. All three sub-parallel zones are located within a 100 metre
wide, north-south (350 degree) trending corridor centered 600 metres
east of the Company's high-grade Martiniere West Zone. 
"Over the course of the summer drill program at Martiniere we have
gone from defining/expanding one high-grade gold zone (Martiniere
West), to now having four zones contributing to the expanding gold
inventory on the Property," said Darin Wagner, President and CEO of
Balmoral Resources. "With four zones now positioned to add shallow,
high-grade ounces at Martiniere, and additional gold discoveries
already identified throughout this large system, we have a clear
growth path ahead of us and the financial means to drive that growth.
Our exploration team is to be commended for the tremendous success of
the summer drill program." 
With the definition of three new gold-bearing zones along the Bug
Lake corridor, the Martiniere Property now hosts four high-grade gold
zones. The Property also features two advanced prospects in the ME-16
and Central areas and a number of additional gold occurrences. All of
these zones and prospects occur within a 1,500 metre long corridor
and thus could potentially be developed as part of a single mine/mill
complex on the Property.  
Drilling continues to return individual multi-ounce gold assays from
both the Footwall and Hanging Wall Zones (see table below). New
longitudinal sections through the three gold zones in the Bug Lake
area are now available on Balmoral's website -  
Highlights from each of the Zones tested include: 

--  High-grade intercepts from the Footwall Zone include 22.89 g/t gold over
    4.10 metres (MDE-12-63) and 10.25 g/t gold over 3.65 metres (MDE-12-59).
--  Intercepts of 135.00 g/t gold over 0.72 metres (MDE-12-58) and 6.05 g/t
    gold over 4.34 (MDE-12-48) metres highlight results from the Hanging
    Wall Zone. 
--  The Bug Lake Zone produced a number of broad mineralized intercepts
    including 15.66 metres grading 4.09 g/t gold (MDE-12-60) and 15.40
    metres grading 3.20 g/t gold (MDE-12-61). 

Balmoral's Martiniere Property forms part of the Company's Detour
Gold Trend Project which covers 82 kilometres of the Sunday Lake
Deformation Zone. The Sunday Lake Deformation Zone hosts what is
slated to become Canada's largest gold mine in 2013 (the Detour Gold
deposit) 45 kilometres west of Martiniere. The majority of this
district scale land package remains unexplored for Martiniere-type
gold systems.  
Gold Results 

Hole                From        To Interval(i)    Gold  Sub-Zone            
Number          (Metres)  (Metres)    (Metres)   (g/t)                      
MDE-12-44         123.70    126.09        2.39   13.94  Footwall            
including         123.70    124.76        1.06   30.80  "                   
MDE-12-45                                   NSR                             
MDE-12-47                                   NSR                             
MDE-12-48          34.08     35.00        0.92    4.91  ?                   
                  163.28    167.62        4.34    6.05  Hanging Wall        
including         163.28    164.00        0.72   12.50  "                   
and               166.92    167.62        0.70   23.10  "                   
                  176.85    181.07        4.22    5.93  Hanging Wall        
including         177.64    178.17        0.53   30.50  "                   
                  205.06    214.20        9.14    0.39  Bug Lake            
MDE-12-49          28.20     49.98       21.78    0.30  ?                   
                  161.32    161.68        0.36    5.38  ?                   
MDE-12-50         114.90    137.20       22.30    0.78  Bug Lake            
including         116.85    119.81        2.96    2.15  "                   
and including     129.44    131.14        1.70    3.33  "                   
MDE-12-51         113.55    123.45        9.90    0.46  Bug Lake            
including         117.50    118.60        1.10    3.26  "                   
MDE-12-52         113.24    124.23       10.99    0.28  Bug Lake            
MDE-12-53         158.00    174.22       16.22    0.33  ?                   
                  239.50    240.15        0.65    4.92  Bug Lake            
MDE-12-54a        202.98    218.05       15.07    1.42  Bug Lake            
including         210.70    215.03        4.33    4.20  "                   
MDE-12-55                                   NSR                             
MDE-12-58          47.88     48.60        0.72  135.00  Hanging Wall        
                   58.14     59.84        1.70    9.41  "                   
                   82.94    129.61       46.67    0.90  Bug Lake            
including         102.50    118.38       15.88    2.21  "                   
which includes    102.50    109.91        7.41    3.39  "                   
MDE-12-59          79.10    160.25       81.15    1.04  Bug Lake + Footwall 
including          93.60    103.35        9.75    2.34  Bug Lake            
and               116.00    117.00        1.00    4.03  "                   
and               154.45    158.10        3.65   10.25  Footwall            
which includes    154.45    155.00        0.55   14.40  "                   
and               157.53    158.10        0.57   42.10  "                   
MDE-12-60         104.39    132.20       27.81    2.45  Bug Lake            
including         105.07    120.73       15.66    4.09  "                   
which includes    105.07    107.00        1.93   22.51  "                   
and               120.09    120.73        0.64    6.27  "                   
                  173.99    174.82        0.83  197.00  Footwall            
MDE-12-61          51.45     52.07        0.62   74.50  ?                   
                   64.90     66.00        1.10    4.85  ?                   
                   88.75    139.00       50.25    1.25  Bug Lake            
including         112.30    127.70       15.40    3.20  "                   
which includes    112.30  
  113.27        0.97    7.10  "                   
and               125.30    127.70        2.40    9.97  "                   
                  180.00    181.00        1.00    2.84  Footwall?           
MDE-12-62          49.02    126.75       77.73    1.02  Bug Lake + Footwall 
including         119.15    125.02        5.87    7.04  Footwall            
which includes    124.51    125.02        0.51   32.00  "                   
MDE-12-63          46.10    114.00       67.90    1.94  Bug Lake + Footwall 
including         106.25    110.35        4.10   22.89  Footwall            
which includes    110.00    110.35        0.35  149.00  "                   
(i) Reported drill intercepts are not true widths. At this time there is    
insufficient data with respect to the shape of the mineralization to        
calculate true orientations in space.                                       

The three sub-parallel Bug Lake area zones occur within a 100+ metre
wide corridor of deformation/alteration which surrounds the
north-south trending Bug Lake fault. The Bug Lake fault cross-cut the
north-east trending Martiniere shear system, which hosts the
Company's Martiniere West, Central and ME-16 gold discoveries, in an
area approximately 600 metres northeast of the Martiniere West Zone.
The interaction between these two gold bearing structures results in
a unique geological environment allowing for the development of
multi-stage vein/zone development, bonanza grade gold occurrences and
a proliferation of gold bearing structures in the Bug Lake area.  
To date the Bug Lake Zone has been intersected for 375 metres along
strike and to a vertical depth of approximately 235 metres. Broadly
spaced intercepts representing the Hanging Wall Zone indicate an
initial strike length of 310 metres and vertical extent of 175
metres. Both zones remain open along strike and to depth. More
closely s
paced drilling has intersected the Footwall Zone for
approximately 75 metres along strike and over an 80 metre vertical
interval. The Footwall Zone remains open along strike, open to
surface and potentially open to depth beneath what is currently
interpreted to be a local fault with minimal offset. Twenty
additional diamond drill holes have now been completed in the
Footwall/Bug Lake/Hanging Wall area.  
Additional geological details on each of the major gold bearing zones
on the Martiniere Property are available at http://www.balmoralresour
Quality Control 
Mr. Darin Wagner (P.Geo.), President and CEO of the Company, is the
non-independent qualified person for the technical disclosure
contained in this news release. Mr. Wagner has supervised the work
programs on the Martiniere Property, visited the property on multiple
occasions, examined the drill core and/or photographs from the holes
summarized in this release, discussed and reviewed the results with
senior on-site geological staff and reviewed the available analytical
and quality control results.  
Balmoral has implemented a quality control program for all of its
drill programs, to ensure best practice in the sampling and analysis
of the drill core, which includes the insertion of blind blanks,
duplicates and certified standards into 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 Martiniere field camp in Central
Quebec. Drill core samples are transported in sealed bags to ALS
Minerals Val d'Or, Quebec analytical facilities. Gold analyses are
obtained via industry standard fire assay with atomic absorption
finish using 30 g 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 to ensure the
accurate representation of mineralized zones. ALS Minerals is ISO
9001:2008 certified and the Val d'Or facilities are ISO 17025
certified for gold analysis. 
About Balmoral Resources Ltd. - 
Balmoral is a Vancouver-based precious metal exploration and
development company focused on district scale gold opportunities in
North America. With a philosophy of creating value through the drill
bit and with a focus on proven productive precious metal belts,
Balmoral is following an established formula with a goal of
maximizing shareholde
r value through discovery.  
On behalf of the board of directors of BALMORAL RESOURCES LTD. 
Darin Wagner, President and CEO 
This press release contains forward-looking statements and
forward-looking information (collectively, "forward looking
statements") within the meaning of applicable Canadian and United
States securities laws. All statements, other than statements of
historical fact, included herein, including statements regarding the
anticipated content, commencement, duration and cost of exploration
programs, anticipated exploration program results, the discovery and
delineation of mineral deposits/resources/reserves, the timing of the
receipt of assay results, and business and financing plans and
trends, are forward-looking statements. Forward-looking statements
are typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions or
are those which, by their nature, refer to future events. Although
the Company believes that such statements are reasonable, there can
be no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. The Company cautions investors that
any forward-looking statements by the Company are not guarantees of
future performance, and that actual results may differ materially
from those in forward-looking statements. Important factors that
could cause actual events and results to differ materially from the
Company's expectations include those related to weather, equipment
and staff availability; performance of third parties; risks related
to the exploration stage of the Company's projects; market
fluctuations in prices for securities of exploration stage companies
and in commodity prices; and uncertainties about the availability of
additional financing; risks related to the Company's ability to
identify one or more economic deposits on the properties, and
variations in the nat
ure, quality and quantity of any mineral
deposits that may be located on the properties; risks related to the
Company's ability to obtain any necessary permits, consents or
authorizations required for its activities on the properties; and
risks related to the Company's ability to produce minerals from the
properties successfully or profitably. Trading in the securities of
the Company should be considered highly speculative. All of the
Company's public disclosure filings may be accessed via
and readers are urged to review these materials, including the latest
technical reports filed with respect to the Company's mineral
This news release contains information with respect to adjacent or
similar mineral properties in respect of which the Company has no
interest or rights to explore or mine. Readers are cautioned that the
Company has no interest in or right to acquire any interest in any
such properties, and that mineral deposits on adjacent or similar
properties are not indicative of mineral deposits on the Company's
This press release is not, and is not to be construed in any way as,
an offer to buy or sell securities in the United States. 
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this press
Balmoral Resources Ltd.
John Toporowski
Manager, Corporate Development
(604) 638-5815 / Toll Free: (877) 838-3664
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