Balmoral Completes Acquisition of 100% Interest in Martiniere, Fenelon and N2 Properties, Quebec

Balmoral Resources Ltd. ("Balmoral" or the "Company") (TSX
VENTURE:BAR)(OTCQX:BALMF) reported today that the Company has completed the
acquisition of a 100% interest in each of the Martiniere, Fenelon and N2
Properties in Quebec. The Martiniere and Fenelon Properties form part of the
Company's Detour Gold Trend Project. The N2 Property is located approximately 80
kilometres to the southeast, adjacent to the currently producing Vezza gold
deposit. 


The Company also reported that it has completed the previously announced (see
NR12-33, Nov. 22, 2012) acquisition of the Detour East Property, which also
forms part of the Detour Trend Gold Project. Balmoral now owns 100% of its
entire 64,893 hectare Detour Gold Trend Project, with the exception of 18 claims
(998 hectares) which are held under a participatory joint venture with Encana
Ltd. in which the Company holds a majority interest and is the operator. 


"The completion of these two acquisitions result in a wholly owned land package
covering nearly 65,000 hectares of some of the most prospective gold exploration
terrain in the Abitibi greenstone belt," said Darin Wagner, President and CEO of
Balmoral Resources. "With rapidly expanding high-grade gold discoveries at
Martiniere, historic gold resources and/or open-ended, advanced gold prospects
on each of the other properties acquired, today's acquisitions set the stage for
the next phase of Balmoral's growth. With our neighbours set to commence
production on one of the largest open pit gold mines in North America, the
recent acquisition of Trelawney and Queenston Mining and yesterday's bid for
Aurizon Mines, whose lead asset is only 45 kilometres south of our Martiniere
discoveries, there is a great deal of attention and interest focused on the
Abitibi making it an ideal time to consolidate our position and work
aggressively toward expanding our asset base." 


The Acquisitions

Balmoral has exercised its rights under the terms of a pre-existing acquisition
agreement (see NR10-05, Sept. 7, 2010) and purchased from Cyprus Canada Inc.
("Cyprus") all of Cyprus's rights, titles and interests to each of the
Martiniere, Fenelon and N2 properties and a regional airborne data survey
covering a large area of the northern Abitibi region of Quebec. Balmoral
completed the purchase by making a single cash payment to Cyprus of US$450,000.
As a result, Balmoral now owns a 100% interest in each of the subject properties
and the airborne data set. 


As per the terms of the acquisition agreement, Balmoral has granted to Cyprus a
2% Net Smelter Return ("NSR") royalty on the majority of the claims comprising
the Martiniere Property and a 1% NSR royalty on the entirety of each of the N2
and Fenelon Properties. 


The Company also advises that it has completed the acquisition of the 49%
interest in the Detour East Property previously held by Radisson Mining
Resources Inc. as per the terms of the agreement announced on November 22, 2012.
The Detour East Property adjoins the holdings of Detour Gold and sits along the
same geological structure as that which hosts the Detour Gold deposit which is
scheduled to become Canada's largest gold producer over the next 12 months. 


About Balmoral Resources Ltd. - www.balmoralresources.com

Balmoral is a Vancouver-based precious metal exploration and development company
focused on district scale gold opportunities in North America. With a philosophy
of creating value through the drill bit and a focus on proven productive
precious metal belts, Balmoral is following an established formula with a goal
of maximizing shareholder value through discovery and growth of high-grade gold
resources. 


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.
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 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.


This news release contains information with respect to adjacent or similar
mineral properties in respect of which the Company has no interest or rights to
explore or mine. Readers are cautioned that the Company has no interest in or
right to acquire any interest in any such properties, and that mineral deposits
on adjacent or similar properties are not indicative of mineral deposits on the
Company's 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: 
Balmoral Resources Ltd.
John Toporowski
Manager, Corporate Development
(604) 638-5815 or Toll Free: (877) 838-3664
jtoporowski@balmoralresources.com
www.balmoralresources.com
Balmoral Resources Ltd (TSXV:BAR)
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