Balmoral Announces Closing of $8,004,000 Flow-Through Offering


October 4, 2012: Vancouver, BC – Balmoral Resources Ltd. (Stock Profile – TSXV:BAR & OTCQX:BALMF) announced it has closed the previously announced flow-through bought deal private placement with a syndicate of underwriters led by Canaccord Genuity Corp. and including Cormark Securities Inc. and Laurentian Bank Securities Inc. With full subscription of the over-allotment option granted to the underwriters, the Company has issued 6,960,000 flow-through common shares at a price of $1.15 per flow-through common share for gross proceeds $8,004,000.

The proceeds raised from the Offering will be used to accelerate the exploration on the Company’s Detour Gold Trend Project, including additional drill testing of the Company’s Martiniere West, Bug Lake and recent high-grade Footwall discovery on the Martiniere Property and testing of high priority targets on the other Detour Gold Trend Properties.

To learn more about Balmoral Resources – CLICK HERE.


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