Balmoral Resources Ltd. (TSX:BAR) is pleased to announce that due to strong demand it has increased the previously announced brokered private placement of national flow-through common shares (see release NR-17-13, August 8, 2017). PI Financial Corp. as lead agent on behalf of a syndicate of agents (collectively the “Agents”), have now agreed to offer 5,700,000 National FT shares at a price of C$0.71 per National FT Share for aggregate gross proceeds of C$4,047,000. The Revised Offering has been fully subscribed by the Agents and there is no further Over-Allotment Option.

In consideration of the Agents’ services, the Company has agreed to pay the Agents a cash commission of 5.0% of the gross proceeds of the Revised Offering aside from those orders submitted by insiders of the Company, on which there will be no cash commission, and those orders delivered through the President’s List, on which a reduced commission has been negotiated with the Agents. The Revised Offering is being made on a “best efforts” private placement basis to be offered for sale in British Columbia, Alberta and Ontario and such other Canadian jurisdictions as the Company and the Agents may agree.

The closing of the Revised Offering is anticipated to occur on or before September 15, 2017 to accommodate certain institutional investor interest. Closing of the Revised Offering is subject to certain conditions including the receipt of regulatory approvals, such as the acceptance of the Revised Offering by the Toronto Stock Exchange (the “TSX”). The National FT Shares issued under the terms of the Revised Offered Securities will be subject to a four month hold period under applicable securities laws in Canada.

Quebec Flow-Through Share Offering

In addition, the Company is pleased to announce that it will offer, for shareholders and investors in the province of Quebec, a non-brokered private placement of up to 3,333,333 flow-through common shares of the Company at a price of $0.90 per Quebec FT Share for aggregate gross proceeds of $3,000,000.

The Company may pay certain finders a cash finder’s fee of up to 6% of the gross proceeds of the Quebec Offering. The Quebec Offering is being made on a private placement basis and offered for sale in the province of Quebec.

The closing of the Quebec Offering is anticipated to occur on or before September 15, 2017. Closing of the Quebec Offering is subject to certain conditions including the receipt of regulatory approvals, such as the acceptance of the Quebec Offering by the TSX. The Quebec FT shares to be issued under the terms of the Quebec Offering will be subject to a four month hold period under applicable securities laws in Canada.

The gross proceeds from the Offering will be used by the Company to continue exploration of its Detour Gold Trend Project in the province of Quebec and for the exploration of other gold properties held by the Company in Canada, such exploration work to constitute Canadian exploration expenses (as defined in the Income Tax Act (Canada)) with the expenses to be renounced for the 2017 taxation year.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.

About Balmoral Resources Ltd.

Balmoral is a well-funded, Canadian-based company actively delineating and expanding a series of gold deposits on its Martiniere Property located within the prolific Abitibi greenstone belts in Quebec, Canada. The Martiniere Property is just one of several large, highly prospective properties comprising the Company’s wholly owned, 1,000 km2 Detour Gold Trend Project. Employing a drill focused exploration strategy in one of the world’s preeminent mining jurisdictions, 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.