Balmoral Resources Arranges $5-million Bought Deal Financing


September 12, 2012: Vancouver, BC – Balmoral Resources Ltd. (Stock Profile – TSXV:BAR & OTCQX:BALMF)  announced it entered into an agreement with Canaccord Genuity Corp., pursuant to which a syndicate of underwriters led by Canaccord and including Cormark Securities Inc. and Laurentian Bank Securities Inc. will purchase 4.35 million flow-through common shares of the company at a price of $1.15 per flow-through share on a bought deal private placement basis for gross proceeds of $5,002,500.

The Company has also granted the Underwriters an option to purchase from the Company up to an additional 1,740,000 flow-through common shares (the “Over-Allotment Shares” and together with the flow-through common shares, the “Offered Securities”) through the Offering at a price of $1.15 per Over-Allotment Share, exercisable 48 hours prior to the closing date of the Offering.

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 Trend Properties.

Closing of the Offering is anticipated to occur on or before October 4, 2012.


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