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Balmoral Resources shareholders approve tie up with Wallbridge Mining

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(Kitco News) - A proposed merger between Eastern Canadian-focused Wallbridge Mining (TSX:WM) and Balmoral Resources (TSX:BAR) has been approved by shareholders.

Thursday, a special meeting of Balmoral share holders cast votes in favor of the tie up.

“We are pleased that the securityholders of Balmoral have accepted the Board’s recommendation and voted over 99% in favor of the proposed acquisition of Balmoral by Wallbridge.” said Darin Wagner, President and CEO of Balmoral. “The combination of Balmoral’s property assets - including our recent high-grade gold discoveries - with Wallbridge’s development stage Fenelon property, strong treasury and development experience will create a well-funded, strongly backed Canadian-focused exploration and development company with the assets and skills to become an important player in the Canadian gold exploration business. With the exciting growth potential of the Area 51 gold system, the near-term production potential of Fenelon and a promising portfolio of advanced to early stage, drill-ready exploration projects we believe our shareholders will be well positioned to continue to benefit from the strong global gold market.”

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