Balmoral Receives $6,578,655 From Warrant Exercises

Balmoral Resources Ltd. (TSX VENTURE:BAR)(OTCQX:BALMF) ("Balmoral" or the
"Company") reported today that the Company received a total of $6,578,655.80
from the exercise of share purchase warrants which expired on November 9, 2012.
Of the total above, $5,067,916.94 has been received by the Company since
September 21, 2012. The warrants in question were issued as part of Balmoral's
initial financing completed in November of 2010.


With receipts from the warrant exercises, as at November 16, 2012, Balmoral has
working capital of $19 million, which includes $14.6 million in cash. The
Company has 84,507,289 shares issued and outstanding and, on a fully diluted
basis, would have 88,700,289 shares issued.


"Balmoral is now in a stronger financial position than it has been at any time
during its brief history," said Darin Wagner, President and CEO. "Our cash on
hand will allow us to continue aggressive expansion of our high-grade gold
discoveries at Martiniere, and exploration throughout our district scale land
holdings along the Detour Gold Trend in Quebec, through 2013. We thank those
investors who demonstrated their support by exercising their warrants despite
what are clearly challenging market conditions."


About Balmoral Resources Ltd. - www.balmoralresources.com

Balmoral is a Vancouver-based precious metal exploration and development company
focused on district scale gold opportunities in North America. With a philosophy
of creating value through the drill bit and with a focus on proven productive
precious metal belts, Balmoral is following an established formula with a goal
of maximizing shareholder value through discovery.


On behalf of the board of directors of BALMORAL RESOURCES LTD.

Darin Wagner, President and CEO

This press release contains forward-looking statements and forward-looking
information (collectively, "forward-looking statements") within the meaning of
applicable Canadian and United States securities laws. All statements, other
than statements of historical fact, included herein, including statements
regarding the anticipated content, commencement, duration and cost of
exploration programs, anticipated exploration program results, the discovery and
delineation of mineral deposits/resources/reserves, the timing of the receipt of
assay results, and business and financing plans and trends, are forward-looking
statements. Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and similar
expressions or are those which, by their nature, refer to future events.
Although the Company believes that such statements are reasonable, there can be
no assurance that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in such
statements. The Company cautions investors that any forward-looking statements
by the Company are not guarantees of future performance, and that actual results
may differ materially from those in forward-looking statements. Important
factors that could cause actual events and results to differ materially from the
Company's expectations include those related to weather, equipment and staff
availability; performance of third parties; risks related to the exploration
stage of the Company's projects; market fluctuations in prices for securities of
exploration stage companies and in commodity prices; and uncertainties about the
availability of additional financing; risks related to the Company's ability to
identify one or more economic deposits on the properties, and variations in the
nature, quality and quantity of any mineral deposits that may be located on the
properties; risks related to the Company's ability to obtain any necessary
permits, consents or authorizations required for its activities on the
properties; and risks related to the Company's ability to produce minerals from
the properties successfully or profitably. Trading in the securities of the
Company should be considered highly speculative. All of the Company's public
disclosure filings may be accessed via www.sedar.com and readers are urged to
review these materials, including the latest technical reports filed with
respect to the Company's mineral properties.


This press release is not, and is not to be construed in any way as, an offer to
buy or sell securities in the United States.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Balmoral Resources Ltd.
John Toporowski
Manager, Corporate Development
(604) 638-5815 / Toll Free: (877) 838-3664
(604) 648-8809 (FAX)
jtoporowski@balmoralresources.com
www.balmoralresources.com
Balmoral Resources Ltd (TSXV:BAR)
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