Balmoral Receives First Option Vesting Notice From GTA on Northshore Property, Ontario

Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX: BAR) (OTCQX: BALMF)
reported today that it has received First Option Vesting Notice under the
Northshore Property Agreement ( the "Agreement"; see NR11-17; July 27, 2011)
from GTA Resources and Mining Inc. ("GTA") (TSX VENTURE: GTA). Under the terms
of the Agreement GTA, who have been the operator on the property since 2011,
have the right under the First Option to earn a 51% interest in the Northshore
Property from Balmoral subject to making a series of cash and share payments and
completing $2,500,000 in expenditures on the Property. Balmoral has received the
required cash and share payments and is currently reviewing the expenditure
statement provided by GTA which, if accepted, will trigger formal vesting of
GTA's First Option Interest in the Property. The Company anticipates it will
complete its review within the next 10-12 days. 


Under the terms of the Agreement, GTA will have 30 days from vesting of the
First Option Interest (51%) to decide whether or not to proceed with a Second
Option and acquisition of an additional 19% interest in the Northshore Property.
Should GTA decide to proceed with the Second Option it will immediately deliver
to Balmoral $100,000, 1.0 million common shares and be required to undertake
$3.0 million in additional expenditures on the Northshore Property over the next
24 months in order to vest the Second Option Interest. If GTA elects not to
proceed with the Second Option a 51/49 participatory joint venture will be
formed with respect to further work on the Northshore Property, with GTA as the
initial operator. 


Located immediately south of the town of Schreiber, Ontario in the Hemlo
Greenstone Belt, the Northshore Property is home to the Afric Gold Zone and
former producing Northshore gold mine. Balmoral currently controls approximately
11.4% of the issued and outstanding common shares of GTA. 


About Balmoral Resources Ltd. - www.balmoralresources.com
Balmoral is a Vancouver-based precious metal exploration and development company
focused on delineation of both high-grade gold and nickel-copper-PGE discoveries
on its wholly owned Detour Gold Trend Project located in Quebec, Canada. 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 the discovery and definition
of high-grade gold assets. 


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 potential vesting of GTA's interest in the Northshore Property,
GTA's decision to take up the Second Option and GTA's expenditures to date and
Balmoral's review thereof 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 financial review of GTA's expenditures on the Property,
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 for either the Company or GTA; risks
related to the Company's or GTA'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 or GTA's ability to obtain any necessary permits, consents or
authorizations required for its activities on the properties; and risks related
to the Company's or GTA'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.


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.



FOR FURTHER INFORMATION PLEASE CONTACT: 

For further information contact:
John Toporowski
Manager, Corporate Development
Tel: [phone] / Toll Free: [phone]
E-mail: [e-mail]