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Balmoral Announces Management Changes

 
Apr 26, 2010
  • Darin Wagner to become President and CEO

  • Gordon Neal appointed to the Board of Directors

  • Ross McDonald to join Balmoral as CFO

  • Former West Timmins Mining Inc. operating team to handle day to day management
(Vancouver, April 26, 2010) - Balmoral Resources Ltd. (BAR.H:TSXV) ("Balmoral" or the "Company") announced today that Mr. Darin Wagner, the former President and CEO of West Timmins Mining Inc., has joined the Company as President, CEO and Director. Balmoral is also pleased to announce that Mr. Gordon Neal has accepted an appointment to the Board of Directors of Balmoral and that Mr. Ross McDonald has agreed to become the Chief Financial Officer for the Company.

"I am very excited by the opportunities that lie ahead for Balmoral and at having been able to assemble a strong and experienced team to work with in creating value for the Company and its shareholders," said Mr. Wagner. "We will now focus our collective energies on establishing a project portfolio for Balmoral. We are currently evaluating a number of intermediate to advanced‐stage precious and base metal opportunities in North and South America."

Darin Wagner joins the Company from West Timmins Mining Inc., where he was President, CEO, Director and Qualified Person for the Company from its inception, through the discovery of the highgrade Thunder Creek Gold Zone in Timmins, Ontario and through WTM's sale to Lake Shore Gold Corp. in an all share deal valued at $424 million completed in November of 2009. Prior to managing West Timmins and its predecessor, Sydney Resource Corp., Mr. Wagner served as Exploration Manager for Platinum Group Metals Ltd. through the acquisition, discovery and initial delineation of their flagship multi‐million ounce Western Bushveld platinum deposit in South Africa and as a project geologist and country manager for Cominco Ltd. (now Teck Resource Ltd.) in North and South America. Mr. Wagner is a Professional Geologist (Ont.) and currently also serves as a director of TSX‐listed Candente Gold Corp., and as a technical advisor to TSX‐listed MAG Silver Corp. and Platinum Group Metals Ltd. and TSXVlisted Puget Ventures Inc..

Gordon Neal brings more than 25 years of providing corporate finance advice and service to public companies to the Board of Balmoral. Mr. Neal founded and grew Neal McInerney Investor Relations to become the second largest full service investor relations firm in Canada, serving a broad spectrum of blue‐chip financial service and resource companies. Mr. Neal is currently Vice‐President of Corporate Development for MAG Silver Corp., and served as a principal advisor to West Timmins Mining Inc. on matters of corporate finance and investor relations. Gordon has participated in raising more than $400 million dollars for mining and resource companies since 2004. He currently serves on the board of directors of Dorato Resources Ltd., Americas Petrogas Inc. and Rockgate Capital Corp.

Mr. Ross McDonald is a Chartered Accountant and has been a member of the Institute of Chartered Accountants of British Columbia since 1968. Mr. McDonald brings a broad range of experience in public company accounting and finance to Balmoral having provided accounting, audit and tax services to numerous small to medium sized businesses in the resource sector over his career. Mr. McDonald is currently a director of Corriente Resources Inc. (which recently received a takeover offer valued at $679 million), Fjordland Exploration Ltd. and Miranda Gold Corp. Mr. McDonald will assume the position of CFO on or about May 1, 2010 following completion and filing of the current year‐end audited financial statements.

Mrs. Sue Chipperfield will join Balmoral in the position of Corporate Secretary. Prior to joining Balmoral Mrs. Chipperfield served as Executive Assistant to the President at West Timmins Mining Inc. and in a similar position with Vancouver based Gitennes Exploration Inc..

Mr. John Toporowski has also agreed to join Balmoral as Manager of Investor Relations, after having provided similar investor relations and corporate development services to West Timmins Mining Inc. In addition to his work with West Timmins, Mr. Toporowski has held investor relations positions with a number of successful exploration and development companies over the last twenty years including New Canamin Resources Ltd., Callinan Mines Ltd., Tan Range Exploration Corp. (now Tanzanian Royalty Exploration Corp.), the Breakwater Group and Granges Exploration Ltd. During the 1970's, Mr. Toporowski was part of family owned business providing specialized engineering, construction and metallurgical services to some of the earliest successful gold heap leach operations in the southwestern United States.

Mr. Wagner and Mr. Neal will join Mr. Hendrik van Alphen and Mr. Lawrence Talbot (see news release dated April 1, 2010) on the Board of Directors of Balmoral. Mr. Gerald Salberg has resigned as a director of the Company and the Board would like to thank Mr. Salberg for his stewardship of the Company over the last several years. Mr. Chris Cherry has also agreed to step aside as interim CFO effective upon Mr. McDonald's appointment and is thanked for his contribution.

"We look forward to establishing a strong bond with our shareholders as we move forward with Balmoral," said Mr. Toporowski. "We invite them to contact us at any time, by phone or by email, with their comments or concerns. We appreciate their support and confidence as we look to build a dynamic new enterprise under the BAR.H banner".

On behalf of the board of directors of
BALMORAL RESOURCES LTD.

"Darin Wagner"

Darin Wagner
President and Chief Executive Officer
Email: dwagner@balmoralresources.com

For further information please contact:
John Toporowski, Manager -- Investor Relations
Email: info@balmoralresources.com
Phone: 604‐638‐5815


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