Exploration Plans

Balmoral has recently completed its 2016 in-fill and expansion drill program at Martiniere, where the focus remained on the growth of the Bug Lake deposits. Drilling successfully extended the Bug North deposit to a depth of 550 vertical metres and continued to grow both the Bug South deposit and Southeast Zone.

Results from the 2016 program are anticipated to make their way to our shareholders through the end of 2016 and into early 2017.

We currently anticipate the resumption of drilling in the first quarter of 2017 as weather conditions permit. Initial plans call for the continued expansion and of the Bug Lake system and completing the infill drilling of the Bug South deposit between surface and 250 metres vertical depth during the winter program.

Pending receipt of results from the summer program additional drill testing of the Lac du Doigt (Finger Lake) fault corridor may also be warranted and could be completed as part of the winter 2017 program.