Balmoral Receives $2.12 Million Tax Credit Payment

NEWS RELEASE.

July 22, 2013: Vancouver, BC – Balmoral Resources Ltd. (Stock Profile – TSXV:BAR & OTCQX:BALMF) reported it has received, from the offices of Revenu Quebec, a cash payment of $2.12 million. The payment represents the Quebec mineral exploration tax credit relating to the Company’s 2011 exploration expenditures on its Detour Gold Trend and N2 properties located in Central Quebec. Eligible exploration expenditures on the Company’s Quebec Properties qualify for a refundable provincial tax credit of 35%.

With receipt of the 2011 tax credit the Company currently has cash reserves of approximately $9.5 million, working capital of approximately $10.0 million and no debt.

To learn more about Balmoral Resources – CLICK HERE.

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