Balmoral Resources Ltd. announced the first indications of nickel sulphide mineralization on its RUM project in Quebec. Balmoral is pleased to advise that follow-up hand stripping and sampling has significantly expanded the Bluenose Nickel-Copper-Gold-PGE Zone and has confirmed the precious metal rich nature of this new nickel sulphide discovery. The Bluenose discovery is located on Balmoral's 100% held RUM North Property in the Lac Rocher nickel district of Quebec. Bluenose is one of 16 untested magmatic nickel sulphide targets recently acquired by Balmoral in the Lac Rocher district. Bluenose Nickel-Copper-Gold-Platinum-Palladium Zone Mapping of the stripped and washed discovery outcrop at Bluenose (see Photo 1) has outlined clear magmatic zoning/layering within the host intrusion. Disseminated sulphide mineralization occurs throughout the outcrop with 5 to 50 cm wide bands of more concentrated nickel-copper-gold-PGE bearing sulphide mineralization occurring at the contact between individual magmatic layers. Overall the intrusion becomes more olivine rich to the south/southwest and disseminated sulphide content, which appears to correlate well with grade, also increases toward the south/southwest. A zone of interstitial to blebby nickel sulphide mineralization (see Photo 2) occurs at the west-southwest edge of the outcrop as it dives under the overburden cover. The coarse interstitial and blebby sulphide mineralization, which are the typical precursors to massive sulphide development in magmatic nickel sulphide systems like the one being outlined at Bluenose, occurs proximal to untested EM anomalies located along the southwestern margin of the Bluenose intrusion. A similar EM anomaly occurs along the southeastern margin of the intrusion. Bluenose discovery exhibits similar nickel and copper grades to those observed on surface at Lac Rocher, but with a significantly higher precious metal content (gold, platinum, and palladium). Drilling of low-level EM anomalies at Lac Rocher intersected massive nickel-copper sulphide mineralization which returned grades of 7 to 11% nickel. Similar - but stronger - untested EM anomalies flank the Bluenose intrusion proximal to the new discovery. Mapping has also identified a previously unknown mafic/ultramafic intrusion on the recently staked RUM Northwest Property. This is the sixth new intrusions identified by Balmoral in the district, with the majority of the other magnetic targets recently staked by the company being completely covered by overburden. Once final results are received from the recently completed channel sampling program, Balmoral will look to undertake additional ground geophysical work on several of the RUM targets, including Bluenose, prior to initial drill testing. The RUM Project is one of three, district scale nickel sulphide projects wholly owned by Balmoral. The company's Grasset Ultramafic Complex Project in west-central Quebec hosts the multi-million tonne, high-grade Grasset Ni-Cu-Co-PGE deposit and recently discovered high-grade GUC Central Zones. In Ontario the company controls the Gargoyle Ni-Cu-PGE project which feature a new, 1,000+ meter long nickel sulphide discovery. This outcropping discovery is intimately associated with an extensive series of EM anomalies ­ none of which have ever been drill tested. With nickel inventories at multi-year lows, and nickel prices near multi-year highs Balmoral's nickel project portfolio provides exposure to a suite of active, high-grade resource to discovery stage nickel sulphide opportunities in Canada, including the largest, high-grade, open-ended nickel resource in Canada's vast Abitibi region. The company will be active on all three projects over the months ahead with first pass and/or expansion drill testing planned on each of the projects in 2020.