Balmoral Resources Ltd. (TSX:BAR) announces that it has closed the second and final tranche of its previously announced non-brokered private placement. In conjunction with this second closing, the Company has issued 422,270 flow-through common shares at a price of $0.475 per FT Share and 941,176 units at a price of $0.425 per Unit for aggregate gross proceeds of $600,578. In aggregate between the first and second closings the Company has received gross proceeds totaling $6,048,787 from the Offering.

Each Unit consists of one non-flow-through common share in the capital of the Company and one half of one common share purchase warrant. Each whole Warrant entitles the holder to purchase one additional common share in the capital of the Company at any time up to October 30, 2014 at an exercise price of $0.75 per Common Share. A total of 470,588 Warrants were issued to purchasers in conjunction with today’s closing of the second and final tranche of the Offering.

The net proceeds raised from the Offering will be used by the Company for further exploration of its Detour Gold Trend Project and other property assets located in the Province of Quebec, for general working capital and other corporate purposes.

In conjunction with the closing of this second and final tranche, the Company has agreed to pay to certain finders a cash commission, equal to 6.0% of the gross proceeds raised from subscriptions in the Offering from persons introduced to the Company by the Finders – totaling $12,034.70 – and has issued, to the Finders common share purchase warrants equal to 4% of the Units and FT Shares subscribed for by persons introduced to the Company by the Finders – totaling 16,891 Finder Warrants. Each Finders Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $0.75 at any time up to October 30, 2014.

Securities issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being March 1, 2014 in the case of the securities issued under this second tranche of the Offering.

This news release does not constitute an offer to sell or a solicitation 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 a U.S. person absent an exemption from the registration requirements of such Act.

About Balmoral Resources

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 with a focus on proven productive precious metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through discovery.