TSX.V: LGR

News

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.

VANCOUVER, BC--(Marketwired - February 27, 2017) - Logan Resources Ltd. (TSX VENTURE: LGR) ("Logan" or the "Company") is pleased to announce that ALX Uranium Corp (TSX VENTURE: AL) ("ALX") has commenced their diamond drilling program at the Gorilla Lake property ("Gorilla Lake", or the "Property") in the western Athabasca Basin, Saskatchewan. Gorilla Lake is located within the Carswell Impact Structure approximately 15 km north of the past-producing Cluff Lake uranium mine, which operated from 1980 to 2002.

ALX has an 80% ownership interest with Logan having a 20% interest carried through feasibility. ALX is the operator of the Gorilla Lake property and as such, will fund 100% of the project-related costs. Logan Resources acquired the Gorilla Lake property in 2004 and in 2005 optioned the property to ESO Uranium Corp., a predecessor company to ALX.

The 2017 drilling program is planned to include four holes totaling approximately 1,000 metres. Work will be focused on the northern portion of the Property and will follow up on basement-hosted uranium mineralization that was previously intersected in historical holes CLU-01 (0.46% U3O8 over 1.5 m) and CLU-07 (0.17% U3O8 over 7.0 m), drilled in 2006. The uranium mineralization is associated with numerous conductors, as defined by airborne and ground electromagnetic ("EM") surveys and is coincident with a distinct northeast-trending gravity low highlighted from a ground gravity survey conducted in the winter of 2016.

In addition, drilling will test an airborne electromagnetic anomaly approximately 1,500 metres south of Gorilla Lake coincident within a distinct northeast-southwest striking gravity low.

To view a map of the geophysical anomalies and planned 2017 drill target areas, please visit the Logan website at: http://www.loganresources.ca/index.php/projects/gorilla-lake

About Gorilla Lake

The Gorilla Lake property consists of two contiguous mineral claims totaling 7,552 ha (18,661 acres) within the Carswell Impact Structure in the western portion of the Athabasca Basin, northern Saskatchewan. The Property is held 80% by ALX with Logan having a 20% carried interest. ALX is the operator of the Property and funds 100% of the costs associated with the Project.

Gorilla Lake is one of ALX's Cluff Lake group of three contiguous properties adjoining the former Cluff Lake mine site, where over 62 million pounds of U3O8 were extracted during a 22-year operating life through a combination of three open pit mines and four underground mines by predecessor companies of AREVA Resources Canada Inc.

NI 43-101 Disclosure

Technical information in this news release has been reviewed and approved by Sierd Eriks, P. Geo., President and CEO of ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

About ALX Uranium Corp.

ALX Uranium Corp. (TSX VENTURE: AL) is a junior uranium exploration company formed in 2015 as the result of a business combination between Lakeland Resources Inc. and Alpha Exploration Inc. ALX is actively exploring a portfolio of prospective properties in the Athabasca Basin, totaling over 140,000 hectares. For more information on the project portfolio and the company, please visit https://www.alxuranium.com/.

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.

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 timing and details of the drill program, (ii) the exploration potential and prospective nature of the properties, (iii) potential uranium 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, uranium 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, uranium and other commodity prices and the worldwide demand for and supply of gold, uranium and related products, risks related to increased competition in the market for gold, uranium 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 - January 19, 2017) - Logan Resources Ltd. (TSX VENTURE: LGR) ("Logan" or the "Company") is pleased to jointly announce the 2017 uranium exploration plans on the Gorilla Lake property ("Gorilla Lake", or the "Property") with ALX Uranium Corp (TSX VENTURE: AL) ("ALX"). Logan has historically referred to the Gorilla Lake property as the Carswell property in its public disclosure. Gorilla Lake is located within the Carswell Impact Structure in the western Athabasca Basin, Saskatchewan approximately 15 km north of the past-producing Cluff Lake uranium mine which operated from 1980 to 2002.

The 2017 exploration plan for Gorilla Lake includes a four-hole diamond drilling program totaling approximately 1,000 metres during the winter season. Work will be focused on the northern portion of the Property and is scheduled to commence in mid-February.

The drilling program will follow up on basement-hosted uranium mineralization that was previously intersected on the Property in historical holes CLU-01 (0.46% U3O8 over 1.5 m) and CLU-07 (0.17% U3O8 over 7.0 m) drilled in 2006. The uranium mineralization is associated with numerous conductors, as defined by airborne and ground electromagnetic ("EM") surveys and is coincident with a distinct northeast-trending gravity low highlighted from a ground gravity survey conducted in the winter of 2016.

In addition, the drill program will test an airborne electromagnetic anomaly approximately 1500 metres south of Gorilla Lake coincident within a distinct northeast-southwest striking gravity low.

To view a map of the geophysical anomalies and planned 2017 drill target areas, please visit the Logan website at: http://www.loganresources.ca/images/GorillaLake_2017Targets_LGR-NR-20170119.jpg

About Gorilla Lake
The Gorilla Lake property consists of two contiguous mineral claims totaling 7,552 ha (18,661 acres) within the Carswell Impact Structure in the western portion of the Athabasca Basin, northern Saskatchewan. The Property is held 80% by ALX, with Logan having a 20% carried interest. ALX is the operator of the Property.

The Property is part of ALX's Cluff Lake group of properties adjoining the former Cluff Lake mine site, where over 62 million pounds of U3O8 were extracted during a 22-year operating life through a combination of three open pit mines and four underground mines by predecessors of AREVA Resources Canada Inc.

The exploration potential of the Gorilla Lake property is well established from nearly five decades of exploration in the region. Important attributes for uranium potential include strong structural zones with known uranium mineralization and clay alteration in drill holes and numerous conductors, as defined by airborne and ground EM surveys. In 2006, ESO Uranium Corp., a predecessor company to ALX, drilled extensions to known mineralization intersected by Amok in 1979 (0.85% U3O8 over 2.5 m in hole CAR-425) in two of the six holes drilled. Drill hole CLU-01 intersected 0.46% U3O8 over 1.5 m from 174.0 to 174.5 metres. Drill hole CLU-07 intersected two zones of uranium mineralization: one zone returned 0.17% U3O8 over 7.0 metres from 153.0 to 160.0 m, including 0.82% U3O8 over 1.0 metre and a second zone contained 0.20% U3O8 over 2.0 m from 175.0 to 177.0 metres. These step-out holes confirmed the presence of uranium in the area of previous hole CAR-425. The uranium mineralization intersected in drill holes CLU-01 and CLU-07 is associated with a virtually untested structure extending over at least 1,700 metres. This structure represents a prime target for further drilling.

The results of a recent ground gravity survey conducted on the Property in the winter of 2016 identified two significant gravity anomalies to the east and west of Gorilla Lake and confirmed a third geophysical anomaly approximately 1,500 metres south of Gorilla Lake as follows:

  1. Anomaly "A": The area to the east of Gorilla Lake showed a distinct northeast-trending gravity low on the northeast side of the survey area with extremely low residual gravity. This area is coincident with known drill intercepts of uranium mineralization.
  2. Anomaly "B": The area to the west of Gorilla Lake represented a new anomaly consisting of a large northeast-trending gravity low west of Gorilla Lake.

  3. Anomaly "C": To the south of Gorilla Lake, gravity work completed over a magnetic button and Ad Tau anomaly showed a distinct northeast-southwest striking gravity low.

NI 43-101 Disclosure
Technical information in this news release has been reviewed and approved by Sierd Eriks, P.Geo., Vice President, Exploration of ALX, who is a Qualified Person, in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

About ALX Uranium Corp.
ALX (TSX VENTURE: AL) is a junior uranium exploration company formed in 2015 as the result of a business combination between Lakeland Resources Inc. and Alpha Exploration Inc. ALX is actively exploring a portfolio of prospective properties in the Athabasca Basin, which total approximately 145,000 hectares. For more information on the project portfolio and the company, please visit https://www.alxuranium.com/.

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.
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 timing and details of the drill program, (ii) the exploration potential and prospective nature of the properties, (iii) potential uranium 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, uranium 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, uranium and other commodity prices and the worldwide demand for and supply of gold, uranium and related products, risks related to increased competition in the market for gold, uranium 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 - November 23, 2016) - Logan Resources Ltd., (TSX VENTURE: LGR) ("Logan" or the "Company"), announces that it has completed drilling at the Brik gold project in Nevada, USA. A total of eight holes were drilled for 1,380 meters. Samples have been submitted to ALS Chemex in Reno, Nevada, with results anticipated in January 2017. Consistent with previous drilling completed by Pilot Gold Inc. ("Pilot") in 2011, significant intervals of strong iron oxide, silicified andesite, and quartz veining were encountered in drilling.

The Brik project ("Brik") 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, is the focus of Logan's current 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 previously reported, the targets tested include the gold-bearing silica cap, deeper, and potentially higher grade gold mineralization thought to be controlled by steep structures, and geophysical targets likely to represent additional zones of silicification favorable for gold mineralization (See Logan news release September 20, 2016).

Concurrent with drilling at Brik, permit applications for Logan's planned drill program at the Drum project ("Drum") have been submitted to the BLM and State of Utah authorities. Drum is located in the Drum Mountains, 50 km west-northwest of Delta, Utah. Drum consists of 87 unpatented federal lode claims (BLM jurisdiction) and one Utah State lease. The claims are in near proximity to the past producing Drum Mine, which used two open pit mines to produce 85,000 oxide ounces of disseminated, sediment-hosted gold deposits during the 1980's. Bedrock geology on Drum includes the same Lower to Middle Cambrian shale and limestone units which are prospective elsewhere in the district, and mineralization conforms generally to a sedimentary rock-hosted, "Carlin-type" gold model. Exploration by Pilot defined five distinct targets, four of which have never been drilled. Each target is defined on the basis of outcropping, gold-bearing jasperoid bodies which occur in structural and stratigraphic settings similar to the adjacent Drum Mine.

Both Brik and Drum are subject to a previously-announced Option Agreement (see Logan news release July 7, 2016) with 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 (see Logan news release August 18, 2016). Additional mechanisms are in place that would allow Logan to earn up to 80% in the selected projects.

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 Certified Professional Geologist with the American Institute of Professional Geologists and a Qualified Person as defined in National Instrument 43-101.

About Logan Resources

Logan Resources Ltd. (TSX VENTURE: LGR) is a junior exploration company in the business of acquiring and advancing mineral properties prospective for gold. For more information on the project portfolio and the Company, please visit www.loganresources.ca.

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

Jennifer Paterson, Manager of Corporate Development
Office: 604.681.8030 ext. 248

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 timing and details of the drill program, (ii) the exploration potential and prospective nature of the properties, (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.

 

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