Balmoral Extends Bug South Gold Deposit to 350 Metres Vertical Depth

VANCOUVER, BC--(February 15, 2017) - Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX: BAR)(OTCQX: BALMF) today announced the final results from its 2016 summer/fall drill program on its Detour Gold Trend Project in Quebec. Results were highlighted by the extension of the Bug South gold deposit on the Martiniere Property to a vertical depth of 350 vertical metres with an Upper Bug Zone intercept of 9.16 metres grading 3.51 g/t gold, including 1.36 metres grading 20.30 g/t gold. As well the Company announced its best intercept to date from its Detour East Property, located 40 kilometres to the west, with a near surface intercept of 14.15 metres grading 0.91 g/t gold, including a high grade interval of 1.58 metres grading 5.53 g/t gold from the down-plunge extension of the Lynx Gold Zone.

 

The winter 2017 drill program on Balmoral's Martiniere Property, home to the Bug Lake and Martiniere West gold deposits, is currently in full swing with two drills active on the Bug South gold deposit. Drilling is anticipated to continue through the end of March.

 

Martiniere Property - Bug South Gold Deposit

 

The final holes of the summer/fall program tested the northern margin and central portion of the Bug South gold deposit at depth. Drilling successfully extended the deposit to a vertical depth of 350 metres (hole MDE-16-257; see Table 1 below) and it remains open down-plunge below this level. Hole MDE-16-257 appears to have pierced the zone just beneath the central plunge line of the deposit and successfully extended the deposit beneath a local fault offset observed in earlier drilling. Updated cross-sections for the Bug South deposit and a plan map showing the location of the holes from today's release are available at www.balmoralresources.com