VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/17/12 -- Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX VENTURE: BAR)(OTCQX: BALMF) today reported additional broad, high-grade gold intercepts from the Bug Lake area of the Company's Detour Gold Trend Project in Quebec. Drill hole MDE-12-72 returned the highest grade intercept to date from the Bug Lake Zone - 6.73 metres grading 23.82 g/t gold - from a vertical depth of only 25 metres. The same hole intersected the Footwall Zone which returned a similarly high-grade intercept of 16.53 g/t gold over 6.21 metres (at a vertical depth of only 49 metres).
Drilling continues to confirm the continuity of at least three closely spaced, high-grade gold zones, the Footwall, Bug Lake and Hanging Wall Zones, within the Bug Lake Fault corridor. The Bug Lake Zone continues to demonstrate good overall widths including intercepts of 8.54 g/t gold over 19.08 metres and 1.98 g/t gold over 44.48 metres, frequently with higher grade sub-intercepts. The Hanging Wall Zone, located approximately 60 metres east of the Bug Lake Zone, continues to return high grade values including 36.01 g/t gold over 2.07 metres from hole MDE-12-70. Results for an additional 11 holes completed during the fall 2012 drill program remain pending. Winter road construction is now underway in preparation for the next phase of drilling which is slated to begin in early January 2013.
Gold Results----------------------------------------------------------------------------Hole From To Interval(i) Gold ZoneNumber (Metres) (Metres) (Metres) (g/t)----------------------------------------------------------------------------MDE-12-67 56.33 78.82 22.49 0.70 Bug Lakeincluding 74.81 75.43 0.62 6.19 "----------------------------------------------------------------------------MDE-12-68 36.90 48.10 11.20 0.40 Hanging Wall 70.47 114.95 44.48 1.98 Bug Lakeincluding 70.47 80.00 9.53 6.43 "which includes 71.08 72.35 1.27 13.57 "and 77.13 79.29 2.16 13.73 "and including 88.85 93.18 4.33 3.59 "----------------------------------------------------------------------------MDE-12-69 58.50 59.16 0.66 8.97 Hanging Wall 85.15 86.60 1.45 23.54 ? 113.27 183.05 69.78 0.51 Bug Lakeincluding 113.27 132.17 18.90 0.99 "----------------------------------------------------------------------------MDE-12-70 48.26 67.26 19.00 1.10 ?including 50.30 52.46 2.16 3.33 ? 79.71 81.78 2.07 36.01 Hanging Wallincluding 81.10 81.78 0.68 77.60 " 171.30 184.43 13.13 0.75 Bug Lake----------------------------------------------------------------------------MDE-12-71a 86.88 88.23 1.35 29.96 Footwall----------------------------------------------------------------------------MDE-12-72 25.73 44.81 19.08 8.54 Bug Lakeincluding 25.73 32.46 6.73 23.82 "which includes 29.30 32.46 3.16 49.18 " 59.19 65.40 6.21 16.53 Footwallincluding 59.19 62.04 2.85 34.43 "----------------------------------------------------------------------------(i) Reported drill intercepts are not true widths. At this time there isinsufficient data with respect to the shape of the mineralization tocalculate true orientations in space.
