Exploration Plans

Commencing in January of 2011 Balmoral began a multi-disciplinary program targeting gold mineralization on the Martiniere Property. Initial diamond drilling focused on the Martiniere West Zone and has identified a broad, high-grade core to this Zone. Additional drilling planned for the spring-summer of 2011 will focus on the expansion of this promising new discovery. Additional winter 2011 drilling has targeted the Martiniere East and Northeast Zones and has successfully intersected broad areas of alteration and sulphide mineralization with assays pending. Additional drilling is currently being planned for both of these target areas. Several holes were also completed on exploration targets south of the main mineralized corridor on the property for which results remain pending.

On-going geophysical programs will target extensions to the known zones and the Martiniere Gold Corridor which crosses the Martiniere property and extends onto adjacent 100% owned Balmoral properties. The Company has also acquired by staking large land packages located adjacent to the Martiniere Property which are undergoing initial evaluation.

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