American Bonanza Gold Corp ABGFF

balmoral

[behindblueeyes]

(Vancouver, November 9, 2010) – Balmoral Resources Ltd. (“Balmoral” or the “Company”) (NEX:BAR.H)

announced today that it has closed its brokered private placement (the “Offering”) announced in its press releases

dated September 7 and 21, 2010 (NR10-05 and 10-06) with a syndicate of agents co-led by Haywood Securities Inc.

and Raymond James Ltd. and including Canaccord Genuity Corp. (the “Agents”). The Offering involved the

issuance of 24,916,600 units (the “Units”) at a price of
.60 per Unit; and 3,812,500 flow-through shares at a price

of
.80 per flow-through share for total gross proceeds of $17,999,960.

Each Unit consists of one common share in the capital of the Company (a "Common Share") and one half of one

common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each whole

Warrant entitles the holder thereof to purchase one Common Share of the Company for a period of 24 months

following the closing date at an exercise price of
.94.

In consideration of the Agents’ services, the Company paid the Agents a cash commission of 6% of the gross

proceeds of the Offering. The Agents were also issued broker warrants (the “Broker Warrants”) equal to 6.0% of

the flow-through shares and Units sold pursuant to the Offering. Each Broker Warrant entitles the holder to

acquire one common share of the Company at a price of
.94 for 24 months from the closing date.

The net proceeds raised from the Offering will be used by the Company for the acquisition of certain property

assets as described in the September 7, 2010 press release (NR10-05), exploration and drill testing of the

properties, confirmation of historic resources on the properties in order to bring them into compliance with

National Instrument 43-101 Standards of Disclosure for Mineral Projects requirements, retirement of debt

obligations and for general working capital purposes. The securities issued in the Offering are subject to a four

month hold period.

The Company anticipates that the reactivation of the Company to Tier 1 of the TSX Venture Exchange, and

resumption of trading under the trading symbol BAR, will occur on Friday, November 12, 2010.

[silverton]

With BZA owning 15% of BAR. The stock will begin trading tomorrow. They have locked up a JV with RDS that will earn them a 60% stake in the Detour East property that consolidates a 40 km trend with Fenelon and Martiniere that is just 12 km from the huge gold resources owned by Detour Gold. They hope to be drilling at Fenelon in the next few weeks. The Fenelon deposit shares several similarities