Balmoral Announces $3.04 Million Bought Deal, Flow-Through Private Placement

Balmoral Resources Ltd. announced today that it has entered into an agreement with Casimir Capital Ltd., under which the Underwriter has agreed to purchase $3,040,000 in securities of the Company, and to place the purchased securities on a flow-through private placement basis. The Offering will consist of 2,000,000 flow-through common shares of the Company at a price of $1.52 per flow-through common share. The share price of the Offering represents a 46.2% premium to the February 17, 2012 closing price of common shares of Balmoral. The proceeds raised from the Offering will be used to accelerate the exploration of the Company’s Detour Gold Trend projects, including the Martiniere, Grasset, and Fenelon gold discoveries, located in the province of Quebec.

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