Balmoral Reports Further Expansion, New High Grade Discoveries Within Afric Gold System, Northshore Property, Ontario

Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX
VENTURE:BAR)(OTCQX:BALMF) today reported results from eight holes completed on
the Company's Northshore Property in Ontario. The intercepts reported today
expand the Afric Gold Zone along strike to the northeast and to depth. Results
continue to point to the presence of several high-grade gold bearing structures
within a very broad corridor of anomalous gold mineralization. Exploration on
the Northshore Property is being funded and operated by GTA Resources and Mining
Inc. ("GTA") under a previously announced option agreement between the
companies.


Highlights from today's release include:



--  Hole WB-12-29 which returned two broad intercepts of anomalous gold
    mineralization including two new high-grade discoveries (9.15 g/t gold
    over 3.00 metres and 9.78 g/t gold over 5.00 metres), expanding the
    Afric Zone to the northeast into an area of limited historic drilling.

--  Hole WB-12-33 which returned an average grade of 1.37 g/t gold over
    68.00 metres (including 12.16 g/t gold over 4.00 metres), representing
    one of the deepest intersections on the Property to date and indicating
    the Afric Zone remains open at depth.

--  Several bonanza grade intersections including: 66.50 g/t gold over 0.50
    metres (WB-12-33), 50.90 g/t gold over 0.50 metres and a second deeper
    intercept of 50.90 g/t gold over 0.50 metres (WB-12-29), and 20.10 g/t
    gold over 1.00 metre (WB-12-29).

--  The gold mineralization hosted within the Afric Intrusive Complex has
    been partially defined over an area exceeding 450 metres in strike
    length and to depths in excess of 390 vertical metres.



All recent holes intersected significant gold mineralization hosted within a
strongly altered felsic porphyry package termed the Afric Intrusive Complex.
Multiple occurrences of visible gold mineralization were observed in several
holes. An updated plan map showing collar locations for the holes announced
today is available on the Northshore Property page of the Company's website -
www.balmoralresources.com.




Table 1: Phase 3 Drill Results                                              
                                                                            
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Hole                    Hole Depth      From        To Interval(i)     Grade
Number                    (metres)  (metres)  (metres)    (metres)  g/t gold
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WB-12-28 (-50 degrees)      287.00     24.00     41.00       17.00      0.32
----------------------------------------------------------------------------
  including                            24.00     25.00        1.00      1.82
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
WB-12-29 (-50 degrees)      350.00      9.20     84.00       74.80      1.12
----------------------------------------------------------------------------
  including                            28.00     56.00       28.00      2.00
----------------------------------------------------------------------------
  which includes                       42.00     42.50        0.50     25.30
----------------------------------------------------------------------------
                                      229.00    287.00       58.00      1.54
----------------------------------------------------------------------------
  including                           236.00    239.00        3.00      9.15
----------------------------------------------------------------------------
  which includes                      237.50    238.00        0.50     50.90
----------------------------------------------------------------------------
  including                           268.00    285.00       17.00      3.25
----------------------------------------------------------------------------
  which includes                      270.00    275.00        5.00      9.78
----------------------------------------------------------------------------
  and which includes                  270.00    270.50        0.50     50.90
----------------------------------------------------------------------------
  and                                 274.00    275.00        1.00     20.10
----------------------------------------------------------------------------
                                                                            
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WB-12-30 (-50 degrees)      326.00      5.00     48.00       43.00      1.02
----------------------------------------------------------------------------
  including                            12.00     20.00        8.00      4.58
----------------------------------------------------------------------------
                                      176.00    181.00        5.00      1.93
----------------------------------------------------------------------------
                                      275.00    276.00        1.00     14.50
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
WB-12-31 (-50 degrees)      344.00    143.00    198.00       55.00      0.83
----------------------------------------------------------------------------
  including                           143.00    157.00       14.00      1.32
----------------------------------------------------------------------------
  which includes                      146.50    147.00        0.50     20.60
----------------------------------------------------------------------------
  including                           197.00    198.00        1.00     15.80
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
WB-12-32 (-50 degrees)      444.00    231.00    244.00       13.00      1.00
----------------------------------------------------------------------------
                                      337.00    348.50       11.50      1.26
----------------------------------------------------------------------------
                                      368.00    369.00        1.00      9.91
----------------------------------------------------------------------------
                                      419.80    432.00       12.20      1.02
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
WB-12-33 (-50 degrees)      563.00    421.00    489.00       68.00      1.37
----------------------------------------------------------------------------
  including                           421.00    430.00        9.00      5.94
----------------------------------------------------------------------------
  which includes                      421.00    425.00        4.00     12.16
----------------------------------------------------------------------------
  and                                 423.50    424.00        0.50     66.50
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
WB-12-34 (-50 degrees)      215.00     61.10     83.00       21.90      0.96
----------------------------------------------------------------------------
  including                            74.00     83.00        9.00      2.01
----------------------------------------------------------------------------
  which includes                       74.00     76.00        2.00      6.96
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
WB-12-35 (-50 degrees)      449.00     62.00     63.00        1.00      4.11
----------------------------------------------------------------------------
                                      413.00    429.00       16.00      1.06
----------------------------------------------------------------------------
  including                           414.00    416.00        2.00      2.76
----------------------------------------------------------------------------
                                                                            
(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.                                       



Additional Information

Holes WB-12-32 and WB-12-33, the deepest holes ever drilled on the Northshore
Property, undercut the Afric Zone at depth with both holes intersecting
significant gold values. The intersection in WB-12-33 (1.37 g/t gold over 68.0
metres, including 12.16 g/t gold over 4.00 metres) represents one of the deepest
gold intersections ever encountered on the property, at approximately 390 metres
vertically below surface. Hole WB-12-33 was terminated within a zone of
anomalous gold mineralization at 563 metres indicating that the Afric Zone
remains open at depth.


Holes WB-12-29, WB-12-30 and WB-12-35 were drilled to further evaluate the
northeast extension of the Afric Zone and all three holes encountered
significant gold mineralization. WB-12-29 returned an intercept of 1.95 g/t gold
over 44.50 metres (including 9.78 g/t over 5.00 metres) at approximately 200
metres vertically below surface and hole WB-12-35, the most northeasterly hole
of the current program, intersected 1.06 g/t gold over 16.00 metres. These
intercepts indicate that the system remains open for expansion to the northeast
beyond the limits of current drilling.


To date, GTA has completed a total of 35 drill holes (8,224 metres) on the
Northshore Property and anomalous gold mineralization has been intersected over
a surface extent exceeding 450 metres by 350 metres and to a vertical depth of
over 350 metres. Drill results to date confirm the presence of a large, porphyry
style gold mineralized system at Northshore which hosts several discrete higher
grade gold vein systems.


GTA has indicated that, based on the results reported today, that they expect to
commence a fourth phase of drilling in February, 2013. 


QA/QC

The planning, execution and monitoring of GTA's exploration programs on the
Northshore Property are under the supervision of Robert (Bob) Duess, P. Geo.
(Ontario), VP Exploration of GTA. Mr. Duess is a qualified person, as defined by
National Instrument 43-101, and is also the Qualified Person for this release.
Mr. Duess has supervised the work programs on the Northshore Property,
supervised the collection of the samples and drill core described herein and
reviewed the assays and QA/QC data. Mr. Duess has also reviewed and approved
this release.


GTA has advised the Company that it has implemented a quality control program
for the drill programs on the Northshore Property to ensure best practice in
sampling and analysis. GTA stated that it maintains strict quality
assurance/quality control protocols including the systematic insertion of
certified standard reference and blank materials into each sample batch.
Analyses in this release were performed by AGAT Laboratories Ltd. of Sudbury,
Ontario with ISO 17025 accreditation. Samples are transported in security sealed
bags to AGAT and all samples were assayed using industry-standard assay
techniques for gold. Gold was analyzed by a standard 30 gram fire assay with an
ICP and/or gravimetric finish. In some cases, due to the high grade nature and
the abundance of visible gold mineralization, a screen pulp and metallic
analyses was performed.


About Balmoral Resources Ltd. - www.balmoralresources.com

Balmoral is a Vancouver-based precious metal exploration and development company
focused on high-grade gold discoveries along the Detour Gold Trend 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
discovery and definition of high-grade, Canadian 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 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. In
addition, information with respect to the proposed activities of GTA on the
Northshore project has been provided by GTA, who is the operator of the
Northshore project and, as such activities are not within the control of the
Company, the Company takes no responsibility for the accuracy of such
statements. 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 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.



FOR FURTHER INFORMATION PLEASE CONTACT: 
Balmoral Resources Ltd.
John Toporowski
Manager, Corporate Development
[phone] / Toll Free: [phone]
[phone] (FAX)
[e-mail]
www.balmoralresources.com