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Balmoral Resumes Drilling of Grasset Nickel-Copper-PGE Discovery, Quebec

Reports Results From Annual General Meeting


 
Jun 18, 2014

VANCOUVER, BC--(Marketwired - June 18, 2014) - Balmoral Resources Ltd. (TSX: BAR) (OTCQX: BALMF) ("Balmoral" or the "Company") announced today that drilling to follow up the recent discovery of high-grade nickel-copper-PGE mineralization on the Company's wholly owned Grasset Property in Central Quebec has resumed. Drilling will initially focus on the further delineation of Horizon 3 which returned a high grade intercept of 1.79% Ni, 0.19% Cu, 0.42 g/t Pt and 1.04 g/t Pd over 45.28 metres starting at less than 100 metres vertical depth in hole GR-14-25 (see NR14-11; May 20, 2014). A series of 8-10 holes will test for lateral and vertical extensions of this near surface high-grade sulphide zone prior to additional testing of Horizons 1 and 2. All Zones remain open in all directions for near term expansion. It is anticipated that this phase of the Grasset program will take 3-4 weeks to complete.

In addition the Company has plans to significantly expand its ground and airborne geophysical coverage along the entirety of the 16 kilometre long Grasset Ultramafic Complex over the summer months to examine the potential for additional nickel-copper-PGE mineralization along this largely untested trend.

"We are very excited to have drilling underway at Grasset as we begin to build on the impressive results from the winter drill program," said Darin Wagner, President and CEO of Balmoral. "The Grasset Ni-Cu-PGE discovery presents our shareholders with an exciting opportunity at a time when the nickel market is very strong and demand for new projects in the nickel space is high."

AGM RESULTS

The Company also announced that all matters presented for approval at the Company's Annual General Meeting of shareholders, held on June 13, 2014, have been duly authorized and approved, as follows:

(i) setting the number of directors at five and election of Balmoral's nominees to the board of directors of the Company; and

(ii) appointment of Smythe Ratcliffe LLP as auditors of the Company for the ensuing year and authorization of the directors to fix their remuneration.

Detailed voting results for the election of directors (based on proxy returns) were as follows:

Name Shares Voted For Shares Withheld
Darin Wagner 19,628,108 15,000
Lawrence Talbot 18,064,266 1,578,842
Gordon Neal 18,313,466 1,329,642
Graeme Currie 19,628,108 15,000
Dan MacInnis 19,633,108 10,000

About Balmoral Resources Ltd. - www.balmoralresources.com
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.

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 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.

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.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

 

For further information contact:
John Toporowski
Manager, Corporate Development
(604) 638-5815
Toll Free: (877) 838-3664
Email: jtoporowski@balmoralresources.com
www.balmoralresources.com