Balmoral Acquires 100% Interest in Detour East Property

Balmoral Acquires 100% Interest in Detour East Property 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/22/12 --  Balmoral
Resources Ltd. ("Balmoral" or the "Company") (TSX
VENTURE:BAR)(OTCQX:BALMF) reported today that the Company has agreed
to acquire a 100% interest in the Detour East Property, part of the
Company's Detour Gold Trend Project in Quebec. The Detour East
Property, currently under option to the Company, adjoins the holdings
of Detour Gold who are nearing completion of what is slated to become
Canada's largest gold mine. The Detour East Property hosts a number
of known gold occurrences, including the Lynx and Rambo prospects,
and extends for over 20 kilometres along the Sunday Lake deformation
zone which hosts the nearby Detour Gold deposit.  
Under an agreement between the Company and Radisson Mining Resources
Inc. (TSX VENTURE:RDS) ("Radisson"), and subject to regulatory
approval, Balmoral will acquire from Radisson the entirety of
Radisson's retained interest in the Detour East Property by making a
cash payment to Radisson of $200,000, issuing in favour of Radisson
300,000 common shares and granting to Radisson a 2% net smelter
returns royalty ("NSR") on the mining claims which comprise the
Detour East Property. Balmoral may, at any time, purchase the first
half of the NSR royalty for a payment of $1,000,000 and may similarly
purchase the second half of the NSR for an additional cash payment of
$2,000,000. The shares to be issued will be subject to standard 4
month hold provisions from the date of issue.  
"Today's agreement enables us to further consolidate our holdings
along the Detour Gold Trend and acquire a 100% interest in a
strategically important and highly prospective property in this
emerging gold camp," said Darin Wagner, President and CEO of Balmoral
Under the terms of an existing option agreement between Balmoral and
Radisson, the Company had completed payments and work expenditures
required to vest an initial 51% interest in Radisson's interest in
the Detour East Property. The option agreement provided for a second
option whereby Balmoral could have earned an additional 9% interest
(for an aggregate 60% interest) in the Property by funding $1,500,000
in additional exploration expenditures, prior to formation of a joint
venture to further explore and develop the Property. Upon completion
of the acquisition announced today Balmoral will hold a 100% interest
in 538 claims, which comprise 97% of the Detour East Property, and a
61% joint venture interest in an additional 18 claims (3%). The
latter claims are subject to a participatory joint venture between
the Company and Encana Ltd., in which the Company is the operator.  
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 shareholder 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
completion of the proposed transaction, 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 receipt of regulatory approval
related to the proposed transaction, 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
nature, 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 properties. 
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
(604) 648-8809 (FAX)
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