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Balmoral Receives Summer Drill Program Results from Northshore Property

Balmoral Resources Ltd. ("Balmoral" or the "Company") has received, from joint venture partner GTA Resources and Mining Inc., the results from 15 shallow drill holes from the second and final phase of the summer 2016 drill program on the Northshore Property located near Schreiber, Ontario.

The Phase Two drilling program was designed to both expand in the near surface and more clearly define the outer margins of the Afric Gold Zone. It appears to have successfully extended the Zone in several areas. In addition drilling continues to intersect high-grade, commonly visible gold bearing quartz vein hosted mineralization within the core of the broader zone. The current phase of drilling returned near surface intercepts of 27.90 g/t gold and 25.80 g/t gold, each over 1.00 metre downhole intervals, in holes A-16-20 and A-16-29 respectively (see table below).

Two holes were drilled during this phase of the program to determine the continuity of the Gino Vein system, initially discovered in 2013. The Gino Vein system is located north of the Afric Gold Zone and proximal to the former producing North Shore gold mine. Both holes appear to have successfully intersected the Gino Vein, with an intercept of 6.13 g/t gold over 1.00 metre in G-16-02 indicating the system remains open to the east and down-dip.

Hole From To Interval* Gold**
(metres) (metres) (metres) (g/t)
Afric Gold Zone
A-16-18 1.00 17.00 16.00 0.18
A-16-19 26.00 27.50 1.50 1.30
A-16-20 3.00 24.50 21.50 2.24
including 4.00 18.50 14.50 2.84
which includes 5.00 6.00 1.00 27.90
A-16-21 3.50 14.00 10.50 0.34
including 3.50 5.00 1.50 1.02
A-16-22 15.50 26.00 10.50 0.92
including 23.00 26.00 3.00 2.47
A-16-23 6.50 12.50 6.00 0.89
including 8.00 9.50 1.50 2.83
A-16-24 3.00 15.50 12.50 1.58
including 3.00 5.00 2.00 3.17
And 8.00 11.00 3.00 2.08
and 14.00 15.50 1.50 2.99
A-16-25 6.50 29.00 22.50 0.77
including 21.50 24.50 3.00 1.88
A-16-26 14.00 15.50 1.50 1.57
A-16-27 6.50 17.00 10.50 0.90
including 14.00 17.00 3.00 1.56
A-16-28 12.50 17.00 4.50 1.23
A-16-29 2.50 18.50 16.00 2.82
including 2.50 3.50 1.00 25.80
D-16-18 6.00 15.00 9.00 0.21
Gino Vein System
G-16-01 53.00 54.00 1.00 0.81
G-16-02 14.00 15.50 1.50 1.16
31.00 32.00 1.00 1.97
50.00 53.00 3.00 0.77
63.50 65.00 1.50 1.14
138.50 139.50 1.00 6.13
* Widths as shown are over drilled core length, and do not represent true widths which remain undefined at the current time.
** Gold values are presented uncapped

The Northshore Property is a joint venture between Balmoral and GTA. GTA is the current operator of the joint venture and, prior to the summer 2016 program, held a 51.4% interest in the Property. In addition to its 48.6% interest in the Northshore Property Balmoral currently holds a share position in GTA for investment purposes.

Quality Control and Assurance

GTA has implemented a quality control program for the drill programs on the Northshore Property to ensure best practice in sampling and analysis. GTA maintains strict quality assurance/quality control protocols including the systematic insertion of certified standard reference and blank materials into each sample batch. Analyses in this release were performed by Actlabs in Thunder Bay, Ontario with ISO 17025 accreditation. Samples are transported in sealed bags to Actlabs and all samples were assayed using industry-standard assay techniques for gold. Gold was analyzed by a standard 30 gram fire assay with an AA and/or gravimetric finish.

The planning, execution and monitoring of GTA's exploration programs on the Northshore Project is under the supervision of Mr. Wayne Reid, P. Geo., President and CEO for GTA and a qualified person as defined in National Instrument 43-101. Mr. Reid has reviewed this release, the technical information contained herein and supervised the planning, execution and monitoring of GTA's exploration program.


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