TSX.V: LGR

News

VANCOUVER, BC--(Marketwired - May 17, 2017) - Logan Resources Ltd. (TSX VENTURE: LGR) ("Logan" or the "Company") is pleased to announce that the Company has commenced detailed planning for a second phase of drilling on the Brik property, located in the Cedar Range of Lincoln County, Nevada. The plan for Phase Two drilling is estimated to total approximately 1,995 meters in 10 core holes, to be carried out in Q3/Q4 2017. Logan considers hole BR16-02 from the Phase one program (33.52m grading 1.15 g/t Au) as "proof of concept" that CSAMT resistivity anomalies previously identified constitute priority targets for discovery drilling.

Phase One drilling comprised of eight reverse-circulation ("RC") holes, for a total of 1,380 meters at the Hidden Treasure target area (see news release dated March 1, 2017 for complete results). Logan has incorporated the drill results into the existing model and has utilized the merged data to prepare for the next stage of exploration on the property. Brik is one of several, low sulfidation epithermal gold and silver systems in southeastern Nevada that occur in an area of nested volcanic calderas. Brik is part of the previously-announced Option Agreement (see news release dated July 7, 2016) with Liberty Gold (USA) Corp. ("Liberty Gold") (formerly Pilot Gold (USA) Inc).

Based on the results of this initial Phase One drill program, a Phase Two program is being planned with the intent to drill 10 core holes totaling approximately 1,995 meters in three target areas: Hidden Treasure, Sinter, and Maui Wash. Six holes have been designed within and adjacent to the main mineralized zone at Hidden Treasure, and two holes have been designed each at Sinter and Maui Wash in order to better understand the geologic and structural setting for gold mineralization.

At Hidden Treasure, the target centers on a prominent silicified knob that includes phases of milky quartz, chalcedonic quartz, and quartz breccia, covering an area roughly 200 x 200 meters. Tested targets include the gold-bearing silica cap, deeper mineralization thought to be controlled by steep structures, and geophysical targets likely to represent additional zones of silicification favorable for gold mineralization.

The Sinter target area is on the north side of Miller Springs Wash, approximately two kilometers west-northwest from Hidden Treasure. Anomalous gold in surface samples occurs in a zone that trends roughly east-west and is approximately 150 meters long with exposed widths of the order of 40 meters. This zone contains discontinuous dikes, veins, and a mixture of carbonate and silica deposits typical of very high levels in epithermal systems. Anomalous gold in rock-chip samples with concentrations greater than 100 ppb occurs in a variety of rock types including oxidized dikes, silicified andesite breccias, and quartz veinlets. Milky quartz veins and associated breccias have yielded the strongest gold values, with a maximum of 2.94 ppm.

Liberty Gold drilled four RC holes into the Sinter prospect with a best result of 4.6 meters with an average grade of 1.51 g/t Au starting at a depth of six meters (hole PB16). Liberty Gold completed a CSAMT survey post-drilling, which defined a series of strong resistive anomalies at Sinter. One of the anomalies sits directly beneath hole PB16 and will be the initial target for Logan drilling in this target area.

The Maui Wash target area is located in the southeastern portion of the Brik claim block, approximately 1.5 kilometers south of Hidden Treasure. It is a subordinate target defined by relatively low grade gold anomalism in rock chips and soil samples.

Liberty Gold drilled two RC holes into the Maui Wash target area, intersecting several intervals of anomalous gold; PB26 penetrated a 1.2-meter intercept with an average grade of 0.41 g/t Au at a depth of 91 meters. As at Sinter, the subsequent CSAMT survey defined multiple strong CSAMT resistors within the target footprint which are deemed to warrant discovery drilling.

With respect to the Liberty Gold drill results disclosed in this press release, all drill samples were collected with an RC drill rig using 5-foot (1.5 meter) sample intervals and following standard industry practice. QC/QA included the insertion and continual monitoring of numerous standards and blanks on a regular basis. Independent laboratory, ALS Global of Reno, Nevada, performed all sample preparation and geochemical analyses.

The full drill results from the 2011 Liberty Gold drill program can be found on the Logan website: http://loganresources.ca/images/pdf/brik/Brik_Pilot_2011_Drill_Results.pdf.

The technical information within this document has been reviewed and approved by Dr. Craig S. Bow, Vice President Exploration for Logan. Dr. Bow is a Qualified Person as defined in National Instrument 43-101. Dr. Bow has verified the data underlying the exploration results disclosed in this news release.

About Logan Resources Ltd.

Logan Resources Ltd. (TSX VENTURE: LGR) is a junior exploration company in the business of acquiring and advancing mineral properties. Logan's focus is on actively exploring nine gold properties in Nevada and Utah, USA that are under option from Liberty Gold (USA) Corp. Logan also has a 20% carried interest in the Gorilla Lake uranium property, and has a 100% interest in the Redford iron ore property on Vancouver Island, Canada. Redford is a former producing iron ore mine.

For more information, please visit www.loganresources.ca.

Logan is part of the King & Bay West group of companies. King & Bay West is a merchant bank and management services company that specializes in identifying, funding, developing and managing growth opportunities in the resource and technology sectors. www.kingandbay.com

LOGAN RESOURCES LTD.
On behalf of the Board
"Mark Morabito"
Chief Executive Officer

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to (i) the exploration potential and prospective nature of the properties disclosed in this news release, (ii) the details of future exploration plans and potential results, and (iii) potential gold mineralization on the properties.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources, the realization of resource and reserve estimates, gold and other commodity prices, the timing and amount of future exploration and development expenditures, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Company's properties in the short and long-term and to acquire new properties, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, risks relating to variations in mineral resources, grade or recovery rates resulting from current exploration and development activities, risks relating to the ability to access infrastructure, risks relating to changes in gold and other commodity prices and the worldwide demand for and supply of gold and related products, risks related to increased competition in the market for gold and related products and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities on the Company's properties, or to acquire new properties, may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, BC--(Marketwired - May 04, 2017) - Logan Resources Ltd. (TSX VENTURE: LGR) ("Logan" or the "Company") is pleased to announce that the Company has commenced the permitting process for a 5 to 7 hole, 1,800-meter reverse circulation ("RC") drill program at the Antelope Project. Antelope is best described as a sedimentary rock-hosted, Carlin-style gold system. Antelope is subject to the Option Agreement between Logan and Pilot Gold, Inc. ("Pilot"). The property is located in White Pine County, Nevada, approximately 100 kilometers south of Wendover. Four modern gold mines, including Alligator Ridge, Bald Mountain, Golden Butte, and Kinsley Mountain are located within an 80-kilometer radius of these claims. The project consists of 65 unpatented lode claims under BLM jurisdiction.

Historic rock chip and soil sampling were conducted by Amselco, Phelps Dodge, and Dumont Nickel*. Amselco and Phelps Dodge together completed 138 shallow drill holes totaling 12,024 meters during the 1980's which targeted outcropping gold mineralization. These programs identified a zone of highly anomalous gold that is approximately 2,000 x 900 meters in extent. Based on the historical data interpretations, the system is open both at depth and to the west.

Gold is concentrated in the lower portion of the Pilot Shale in highly silicified sedimentary rocks (jasperoid). Significant concentrations of gold occur in two jasperoid zones which are part of a gently west-dipping sequence of limestone, siltstone and dolomite. Tertiary igneous rocks are present as narrow, northwest trending quartz monzonite dikes. Gold grades are elevated along dike/sediment contacts as well as in proximity to steep, northwest-striking faults.

The jasperoid targets project down-dip under shallow cover to the west, where gravity data suggests that the pediment cover remains shallow for at least 1 kilometer. Geologic potential also exists at depth beneath very shallow historic drilling, where interpreted low angle normal faults allow for thinning and/or repetition of stratigraphy.

A 5 to 7 hole, 1,800-meter RC drill program has been designed to confirm results from selected historic drill holes and to test the northwest extension of near-surface mineralization.

*Although all of the data was developed prior to the requirements of National Instrument 43-101, the companies and analytical labs involved in the work are established and reputable firms, and Logan deems the historical data suitable to develop interpretive drill targets and to guide future exploration.

The technical information within this document has been reviewed and approved by Dr. Craig S. Bow, Vice President Exploration for Logan. Dr. Bow is a Qualified Person as defined in National Instrument 43-101. Dr. Bow has verified the data underlying the exploration results disclosed in this news release.

About Logan Resources Ltd.

Logan Resources Ltd. (TSX VENTURE: LGR) is a junior exploration company in the business of acquiring and advancing mineral properties. Logan's focus is on actively exploring nine gold properties in Nevada and Utah, USA that are under option from Pilot Gold Inc. Logan also has a 20% carried interest in the Gorilla Lake uranium property, and has a 100% interest in the Redford iron ore property on Vancouver Island, Canada. Redford is a former producing iron ore mine.

For more information, please visit www.loganresources.ca.

www.kingandbay.com - Logan is part of the King & Bay West group of companies. King & Bay West is a merchant bank and management services company that specializes in identifying, funding, developing and managing growth opportunities in the resource and technology sectors.

LOGAN RESOURCES LTD.
On behalf of the Board
"Mark Morabito"
Chief Executive Officer

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to (i) the exploration potential and prospective nature of the properties disclosed in this news release, (ii) the details of future exploration plans and potential results, and (iii) potential gold mineralization on the properties.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources, the realization of resource and reserve estimates, gold and other commodity prices, the timing and amount of future exploration and development expenditures, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Company's properties in the short and long-term and to acquire new properties, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, risks relating to variations in mineral resources, grade or recovery rates resulting from current exploration and development activities, risks relating to the ability to access infrastructure, risks relating to changes in gold and other commodity prices and the worldwide demand for and supply of gold and related products, risks related to increased competition in the market for gold and related products and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities on the Company's properties, or to acquire new properties, may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, BC--(Marketwired - April 25, 2017) - Logan Resources Ltd. (TSX VENTURE: LGR) ("Logan" or the "Company") is pleased to announce that it has completed cataloging and vetting of the digital database for the Angel Wing claims, and will now begin to integrate results into the existing Viper project database for the purpose of generating targets for a comprehensive drill program.

Viper is an early-stage, low-sulfidation epithermal gold target, which is subject to the Option Agreement between Logan and Pilot Gold, Inc. ("Pilot"). Logan recently announced that it had signed a Mining Lease and Purchase Option Agreement ("Angel Wing Agreement") pursuant to which Logan would acquire a lease over certain unpatented mining claims located in Elko County, Nevada known as the Angel Wing Property (see news release dated March 16 2017). These two Agreements effectively consolidate the greater part of the Viper District, which is located in northeastern Nevada, USA. The nearest community is the town of Montello, located approximately 60 kilometers to the southwest.

Gold mineralization on both project areas is intimately related to the presence of quartz-calcite veins and vein stockworks. Individual veins exhibit spectacular bladed and lattice epithermal textures, and free gold is conspicuous in a number of outcrops. Exploration on the Pilot claim block returned surface rock samples to 11.8 g/t Au, and significant drill intercepts, including 1.1 g/t Au over 33.5 meters (PV-003)*. Rock chip sample results from the Angel Wing files include vein samples with up to 25.2 g/t Au over three meters, and significant Au values in RC drilling, such as 2.61 g/t Au over 13.72 meters (AW13-05)*.

Full historical drill results for the Viper and Angel Wing properties are available on the Logan Resources website: http://loganresources.ca/index.php/projects/usa-gold-projects/viper

Logan's CEO and Director, Mark Morabito, commented, "The consolidated Viper Project enables Logan to explore the entire four-kilometer strike length of the main mineralized trend with significant expansion and development potential. Historic results in the Viper District are encouraging and warrant another phase of targeting, based on the merged Viper and Angel Wing datasets. We anticipate this program of work will be successful in generating future drill targets."

Logan's geological staff have reviewed the available data, including drill logs, assay certificates and additional supporting information sources. Data was verified through a database check that included a review of drill collar coordinates, down-hole surveys, geologic log data, gold assay data, multi-element assay data and terraspec spectral data. Logan is of the opinion that previous exploration on the Angel Wing project by the Miranda Gold / Ramellius Joint Venture was conducted in a workmanlike and professional manner, and that the geological, geophysical, and geochemical results are suitable for detailed modelling, and the generation of future drill targets. Earlier exploration efforts within the project area, as conducted by Teck Resources, are only partly documented and will not be relied upon.

All drill samples were collected with an RC drill rig using 5 foot (1.5 meter) sample intervals and following standard industry practice. QC/QA included the insertion and continual monitoring of numerous standards and blanks on a regular basis. Independent laboratory, ALS Global of Reno, Nevada, performed all sample preparation and geochemical analyses.

The technical information within this document has been reviewed and approved by Dr. Craig S. Bow, Vice President Exploration for Logan. Dr. Bow is a Qualified Person as defined in National Instrument 43-101. Dr. Bow has verified the data underlying the exploration results disclosed in this news release.

About Logan Resources Ltd.

Logan Resources Ltd. (TSX VENTURE: LGR) is a junior exploration company in the business of acquiring and advancing mineral properties. Logan's focus is on actively exploring nine gold properties in Nevada and Utah, USA that are under option from Pilot Gold Inc. Logan also has a 20% carried interest in the Gorilla Lake uranium property, and has a 100% interest in the Redford iron ore property on Vancouver Island, Canada. Redford is a former producing iron ore mine.

For more information, please visit www.loganresources.ca.

Logan is part of the King & Bay West group of companies. King & Bay West is a merchant bank and management services company that specializes in identifying, funding, developing and managing growth opportunities in the resource and technology sectors. www.kingandbay.com

LOGAN RESOURCES LTD.
On behalf of the Board
"Mark Morabito"
Chief Executive Officer

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to (i) the exploration potential and prospective nature of the properties disclosed in this news release, (ii) the details of future exploration plans and potential results, and (iii) potential gold mineralization on the properties.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources, the realization of resource and reserve estimates, gold and other commodity prices, the timing and amount of future exploration and development expenditures, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Company's properties in the short and long-term and to acquire new properties, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, risks relating to variations in mineral resources, grade or recovery rates resulting from current exploration and development activities, risks relating to the ability to access infrastructure, risks relating to changes in gold and other commodity prices and the worldwide demand for and supply of gold and related products, risks related to increased competition in the market for gold and related products and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities on the Company's properties, or to acquire new properties, may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

 

VANCOUVER, BC--(Marketwired - March 16, 2017) - Logan Resources Ltd. (TSX VENTURE: LGR) ("Logan" or the "Company") is pleased to announce that it has signed a Mining Lease and Purchase Option Agreement ("Angel Wing Agreement") pursuant to which Logan will acquire a lease over certain unpatented mining claims located in Elko County, Nevada known as the Angel Wing Property. This transaction will effectively consolidate the greater part of the Viper District in northeastern Nevada, USA. With the addition of the Angel Wing Property, the size of the consolidated Viper Project is 1,756.6 hectares.

This transaction will form part of the Option Agreement with Pilot Gold Inc. ("Pilot") that Logan entered into, pursuant to which it may acquire up to an 80% interest in up to four of nine gold mineral exploration properties located in Nevada and Utah, USA (see news release dated July 7, 2016). One of the nine Pilot Gold properties, the Viper Project, consists of 40 unpatented mining claims on public lands under BLM jurisdiction, together with additional third party ground. The Angel Wing Agreement brings an additional 87 adjacent and interlocking claims into the project area, effectively merging the two focus areas of historic work. This will allow exploration of the entire four-kilometer strike length of the main mineralized trend. To see the consolidated land status of the Viper Project, please click here.

As a part of the Angel Wing Agreement, Logan has also been granted access to the historic work completed on the Angel Wing Property. An extensive database exists, including results of rock chip sampling, soil sampling, geophysical surveys, hyperspectral and isotopic studies. Over 6,700 meters of drilling has been confirmed at this time, with additional historic drilling under review. Past exploration carried out on the Viper Project by Pilot Gold includes geologic mapping, geophysical surveys, soil sampling, rock chip sampling, and over 3,350 meters of drilling. Exploration by Pilot Gold on the Viper Project claim block returned surface rock samples to 11.8 g/t Au, and significant drill intercepts. The Logan team is currently reviewing this information and performing QA/QC checks and will report results in a future news release.

Logan's CEO & Director, Mark Morabito, commented, "The consolidation of the adjacent Angel Wing claims will provide important access to a greater continuity of land that has significant expansion and development potential. Based on the geology and historic work, further exploration of the Viper Project is warranted. Additional work will include focusing on assembling a comprehensive, 3D district scale model, designed to better define the main feeder structures. Logan anticipates this program of work will be successful in generating future drill targets."

Viper is an early-stage, low-sulfidation epithermal gold target, located in northeastern Nevada. The nearest community is the town of Montello, located approximately 60 kilometers to the southwest. The Viper property is unique in that mineralization is hosted by Permian/Triassic silty limestone and silicified conglomerate which are overlain by unmineralized Miocene rhyolite and dacite. The gold system is believed to be coeval with the felsic volcanic rocks, and similar in age and character to the nearby Jarbidge district. Gold mineralization at the Viper property is closely related to the presence of quartz-calcite veins and vein stockworks. Individual veins exhibit exceptional bladed and lattice epithermal textures, and free gold is visible in a number of outcrops.

Details of the Angel Wing Agreement

  • All dollar amounts listed below are in United States dollars.
  • Logan, through its wholly-owned subsidiary Logan Resources USA, Inc., has been granted a lease over the Angel Wing Property and all rights to the use of the surface and subsurface of the Angel Wing Property held by the current owner. The lease is for an initial term of 20-years.
  • Logan has also been granted the option to purchase the Angel Wing Property outright for a purchase price of US$500,000. Subject to certain conditions, up to 50% of the purchase price may be paid in common shares of Logan.
  • The vendor has been granted a Net Smelter Return Royalty (the "Royalty") over the claims at a rate of 2.0%. The Royalty has a buy-down provision pursuant to which the Royalty may be reduced to 1.0% in return for a payment of $1 million.
  • Minimum Royalty annual payments are required as follows:
   
Due Date Annual Minimum Royalty Payment
Effective Date $25,000
First Anniversary Date $35,000
Second Anniversary Date $45,000
Third Anniversary Date $55,000
Each Anniversary Date thereafter $65,000
  

The technical information within this news release has been reviewed and approved by Dr. Craig S. Bow, Vice President Exploration for Logan. Dr. Bow is a Qualified Person as defined in NI 43-101. Dr. Bow has verified the data underlying the exploration results disclosed in this news release by reviewing the data archive for completeness and confirming the adequacy of the procedures related to sampling, sample preparation, sample security, as well as reviewing the qualifications of the laboratories providing the sample results and analytical procedures.

The Angel Wing Agreement is subject to the approval of the TSX Venture Exchange.

About Logan Resources Ltd.

Logan Resources Ltd. (TSX VENTURE: LGR) is a junior exploration company in the business of acquiring and advancing mineral properties. Logan's focus is on actively exploring nine gold properties in Nevada and Utah, USA that are under option from Pilot Gold Inc. Logan also has a 20% carried interest in the Gorilla Lake uranium property, and has a 100% interest in the Redford iron ore property on Vancouver Island, Canada. Redford is a former producing iron ore mine. For more information, please visit www.loganresources.ca.

Logan is part of the King & Bay West group of companies. King & Bay West is a merchant bank and management services company that specializes in identifying, funding, developing and managing growth opportunities in the resource and technology sectors. www.kingandbay.com

LOGAN RESOURCES LTD.
On behalf of the Board
"Mark Morabito"
Chief Executive Officer

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to (i) the exploration potential and prospective nature of the properties disclosed in this news release, (ii) the details of future exploration plans and potential results, (iii) potential gold mineralization on the properties; and (iv) the potential results of the drill program.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources, the realization of resource and reserve estimates, gold and other commodity prices, the timing and amount of future exploration and development expenditures, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Company's properties in the short and long-term and to acquire new properties, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, risks relating to variations in mineral resources, grade or recovery rates resulting from current exploration and development activities, risks relating to the ability to access infrastructure, risks relating to changes in gold and other commodity prices and the worldwide demand for and supply of gold and related products, risks related to increased competition in the market for gold and related products and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities on the Company's properties, or to acquire new properties, may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, BC--(Marketwired - March 01, 2017) - Logan Resources Ltd. (TSX VENTURE: LGR) ("Logan" or the "Company") is pleased to announce that it has received encouraging results for an initial, eight hole RC program at its Brik gold property in Nevada. Highlights include:

  • Hole 16-01 intersected significant oxide gold presence near-surface and returned 33.53m grading 1.11 g/t Au
  • Hole 16-02 intersected heavily oxidized vein material at depth and returned 33.52m grading 1.15 g/t Au

The Brik property is subject to a previously-announced Option Agreement (news release July 7, 2016) with Pilot Gold (USA) Inc. ("Pilot"). Under the Option Agreement, Logan can earn a 51% participating interest in four of nine properties by incurring US$1.0 million in total expenditures in the first 12 months after closing and by issuing 9.9% of its issued and outstanding common shares to Pilot upon completion of the first financing (news release August 18, 2016). Additional mechanisms are in place that would allow Logan to earn up to 80% in the selected properties.

The Brik property is located in the Cedar Range of Lincoln County, Nevada. Brik is one of several, low sulfidation epithermal gold and silver systems in southeastern Nevada that occur in an area of nested volcanic calderas. The claim block includes multiple exploration targets of which one, Hidden Treasure, was the focus of Logan's exploration program. The target centers on a prominent silicified knob that includes phases of milky quartz, chalcedonic quartz, and quartz breccia, covering an area roughly 200 x 200 meters. As reported in the news release dated September 20, 2016, targets tested include the gold-bearing silica cap, deeper mineralization thought to be controlled by steep structures, and geophysical targets likely to represent additional zones of silicification favorable for gold mineralization.

A total of eight holes were drilled for 1,380 meters. Hole 16-01 demonstrated the presence of significant oxide gold in the near-surface and returned 33.53m @ 1.11 g/t Au (1.52 - 35.05m). Holes 16-01 and Hole 16-03 also intersected deeper, oxidized gold mineralization controlled by NW trending structures. An important result of the program is the expansion of the permissive stratigraphy to the east; hole 16-03 was prematurely terminated in rhyolite grading 1.37 g/t, for the first time demonstrating grade beyond the andesite contact. Perhaps most significantly, hole 16-02 tested a deep CSAMT resistor and returned 33.52m grading 1.15 g/t Au in heavily oxidized vein material (211.84 - 245.36m). Logan regards this hole as a significant "proof of concept" providing solid evidence that cost-effective ground geophysical surveys will generate additional drill targets.

Logan has completed limited additional test work on the drill chip rejects, including CN soluble gold analyses, metallic sieve analyses, and a study of the distribution of gold in different size fractions. Results support the presence of coarse gold in higher grade samples, and preferential occurrence of gold in the coarser size fraction materials. This, along with the brecciated character of the host rock, is believed to contribute to relatively high, intrinsic variability in this deposit.

Taken together, these results enhance our understanding of the basic geometry of the gold-mineralizing system at Brik, and give us confidence that the system extends to depth and can be effectively targeted utilizing ground geophysical surveys.

Logan is now incorporating these results into the existing 3D Leapfrog model, and considering options for further exploration of the property.

Complete assay results for the Logan 2016 RC drilling program can be found in the table below.

                                        
Hole  NAD83  Az.  Inc  TD  TD  From  To  Interval  From  To  Interval  Au  Au
ID  East  North   (ft)  (m)  (ft)  (ft)  (ft)  (m)  (m)  (m)  (g/t)  (oz/ton)
BK1601  741935  4173203  50  -70  605  184.40  5  115  110  1.52  35.05  33.53  1.11  0.032
               including  5  50  45  1.52  15.24  13.72  2.29  0.067
                  485  490  5  147.83  149.35  1.52  0.42  0.012
BK1602  741951  4173186  50  -78  970  295.66  0  5  5  0  1.52  1.52  0.87  0.025
                  65  120  55  19.81  36.58  16.77  0.44  0.013
               including  110  115  5  33.53  35.05  1.52  1.49  0.043
                  695  805  110  211.84  245.36  33.52  1.15  0.034
               including  745  770  25  227.08  234.70  7.60  1.99  0.058
BK1603  741985  4173154  50  -65  335  102.11  310  355  45  94.49  108.2  13.71  0.47  0.014
               including  350  355  5  106.68  108.2  1.52  1.37  0.04
BK1604  741887  4173226  0  -90  165  50.29  0  95  95  0  28.96  28.96  0.46  0.013
               including  50  60  10  15.24  18.29  3.05  1.52  0.044
BK1605  741856  4173279  90  -60  760  231.65  270  275  5  82.3  83.82  1.52  0.52  0.015
                  470  500  30  143.26  152.4  9.14  0.038  0.011
                  665  670  5  202.69  204.22  1.53  0.50  0.015
                  715  720  5  217.93  219.46  1.53  2.27  0.066
BK1606  741943  4173032  240  -65  500  152.40  No Significant Results
BK1607  742109  4172984  230  -75  645  196.60  330  340  10  100.58  103.63  3.05  0.21  0.006
                  595  600  5  181.36  182.88  1.52  0.30  0.009
BK1608  741923  4173230  40  -60  525  160.02  0  15  15  0  4.57  4.57  0.40  0.012
                  170  185  15  51.82  56.39  4.57  0.80  0.023
                  360  470  110  109.73  143.26  33.53  0.48  0.014
               including  360  370  10  109.73  112.78  3.05  0.89  0.026
               and  415  420  5  126.49  128.02  1.53  2.81  0.082
               and  445  465  20  135.64  141.73  6.09  0.75  0.022
                           

Composite assays for the 2016 Logan drilling program at Hidden Treasure (note: widths are down hole; true widths may be less)

All samples are prepared from drill cuttings processed through a rotary splitter on site in Nevada. Split drill cutting samples are then sent to ALS Chemex Laboratories, an independent laboratory located in Reno, Nevada for total gold, sequential gold, and multi-element analyses. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control Program.

The technical information within this news release has been reviewed and approved by Dr. Craig S. Bow, Vice President Exploration for Logan. Dr. Bow is a Qualified Person as defined in NI 43-101. Dr. Bow has verified the data underlying the exploration results disclosed in this news release by reviewing the data archive for completeness and confirming the adequacy of the procedures related to sampling, sample preparation, sample security, as well as reviewing the qualifications of the laboratories providing the sample results and analytical procedures.

About Logan Resources Ltd.
Logan Resources Ltd. (TSX VENTURE: LGR) is a junior exploration company in the business of acquiring and advancing mineral properties. Logan's focus is on actively exploring nine gold properties in Nevada and Utah, USA that are under option from Pilot Gold Inc. Logan also has a 20% carried interest in the Gorilla Lake uranium property, and has a 100% interest in the Redford iron ore property on Vancouver Island, Canada. Redford is a former producing iron ore mine. For more information, please visit www.loganresources.ca.

Logan Resources Ltd. is part of the King & Bay West Group of companies. King & Bay West is a merchant bank and management services company that specializes in identifying, funding, developing and managing growth opportunities in the resource and technology sectors.

LOGAN RESOURCES LTD.
On behalf of the Board
"Mark Morabito"
Chief Executive Officer

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to (i) the exploration potential and prospective nature of the properties disclosed in this news release, (ii) the details of future exploration plans and potential results, and (iii) potential gold mineralization on the properties.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources, the realization of resource and reserve estimates, gold and other commodity prices, the timing and amount of future exploration and development expenditures, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Company's properties in the short and long-term and to acquire new properties, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, risks relating to variations in mineral resources, grade or recovery rates resulting from current exploration and development activities, risks relating to the ability to access infrastructure, risks relating to changes in gold and other commodity prices and the worldwide demand for and supply of gold and related products, risks related to increased competition in the market for gold and related products and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities on the Company's properties, or to acquire new properties, may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

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