Analyst Coverage

Mining analysts provide third party, independent insight to investors who are invested in or considering an investment in a particular company. While most analysts provide their analysis to institutional clients and investment advisors within their host firms their analysis, based typically on extensive industry and financial experience, can provide useful information to all investors.

Balmoral Resources Ltd. is followed by a group of analysts who have provided their own independent opinions, estimates and forecasts; which may include share price targets. Balmoral is providing analyst contact information to assist investors in evaluating the Company. Investors are cautioned to consult with a Registered Investment Representative prior to making investment decisions.

Analysts Covering Balmoral:
Firm   Analyst   Telephone
Cormark Securities Inc.   Tyron Breytenbach, P.Geo.   416-943-6747
Haywood Securities   Kerry Smith B.A. Sc., MBA   416-507-2306
PearTree Securities Inc.   Eric Lemieux   819-314-8081
Salman Partners   Kevin Mackenzie   604-622-5583
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