Advanced Exploration -- Gold/Base Metals - Detour Lake Area, Quebec

• The Martiniere Property hosts a new gold system which has been traced for over 1,500 metres and which remains open in all directions. The system is located north of the main Sunday Lake Deformation Zone and like large gold systems throughout the Abitibi hosts a number of promising zones of gold mineralization and newly discovered gold occurrences.
• Martiniere West Zone - High-grade gold system traced for over 400 metres along strike with shallow drilling and open in all directions; currently drilling with a goal of defining an initial 43-101 compliant resource in 2012.
• Martiniere East -- The Marintiere East area hosts a number of new gold discoveries highlighted by the ME-16 Zone -- 12.93 g/t gold over 9.33 metres - and a new Volcanogenic Massive Sulphide ("VMS") discovery associated with broad zones (30 to 140 metres) of lower grade gold mineralization. Drilling planned winter 2012
• Majority of project remains untested.
• Balmoral Has the Right to Acquire 100% Interest

Martiniere West

Martiniere West is an expanding, near surface zone of high-grade gold mineralization in a setting with similarities to the high-grade portion of the former producing Detour Gold Mine and Balmoral's Fenelon project. Located approximately 45 kilometres east of the Detour Gold mine (currently under construction) the Martiniere West Zone is the most advanced of a series of new discoveries on the Martiniere Property. Drilling during 2011 traced this steeply dipping zone over a strike length of 380 metres and to a vertical depth of 170 metres. It remains open in all directions. The West Zone is comprised of a core of high-grade gold mineralization flanked by several high-grade veins in the hanging and footwall to the core.

Martiniere Plan map

Martiniere West Zone Long Section

Martiniere East

Separated from the Martiniere West Zone by a prominent NNW-trending fault system the Martiniere East area features and number of exciting new gold discoveries including the recent ME-16 discovery which returned 12.93 g/t gold over 9.33 metres -- one of the best intercepts to date from the property. Several other new discoveries were made in the fall of 2011 and are slated for follow-up drilling in 2012.

The Martiniere East Property also hosts an extensive pyrite stockwork system of potential VMS origin. The Martiniere property is located less than 50 km from the large Selbaie VMS deposit (53 million tonnes at 1.0% Cu, 1.9% Zn, 41 g/t Ag, and 0.6 g/t Au). This adds another exciting exploration opportunity and a recently completed airborne geophysical survey has identified a number of untested targets in the Martiniere area.