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Balmoral Announces closing of $4.5 Million Flow-Through Private Placement

June 24, 2014



ENP Newswire - 24 June 2014

Release date- 20062014 - Vancouver - Balmoral Resources Ltd. (TSX: BAR) announces that it has closed the previously announced flow-through private placement with Canaccord Genuity Corp.

With full subscription of the over-allotment option granted to Canaccord Genuity, the Company has issued 2,580,000 flow-through common shares (the 'Offered Securities') at a price of $1.75 per flow-through common share for gross proceeds $4,515,000.

The proceeds raised from the Offering will be used by the Company for further exploration of its Detour Gold Trend Project and other properties located in the Province of Quebec.

In consideration of Canaccord Genuity's services, the Company has agreed to pay Canaccord Genuity a cash commission of 5% of the gross proceeds of the Offering. Canaccord Genuity will also receive broker warrants (the 'Broker Warrants') equal to 6% of the Offered Securities sold pursuant to the Offering. Each Broker Warrant entitles the holder to acquire one common, non-flow-through, share of the Company at a price of $1.25 until the date that is 24 months from the closing of the Offering, being June 20, 2016.

About Balmoral Resources Ltd.

Balmoral is a Canadian-based discovery company focused on high-grade gold and nickel discoveries on its wholly owned, 700 square kilometre Detour Trend Project in Quebec, Canada. With a philosophy of creating value through the drill bit and a focus on proven productive precious/base metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery and definition of high-grade, Canadian gold and base metal assets.

Contact:

John Toporowski

Manager

Corporate Development

Tel: (604) 638-5815

Toll Free: (877) 838-3664

Email: jtoporowski@balmoralresources.com

www.balmoralresources.com

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 closing of the Offering and the use of proceeds of the Offering 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 nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the uncertain nature and interpretation of geophysical models, 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 www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.


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Source: ENP Newswire


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