TSX.V: LGR

News

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.

 

October 18, 2016

VANCOUVER, BRITISH COLUMBIA, Logan Resources Ltd. (TSX-V: LGR) (“Logan” or the “Company”) announces that it has initiated a drilling program at its Brik gold property in Nevada. The project is subject to a previously-announced Option Agreement (see Logan news release July 7, 2016) with Pilot Gold Inc. (“Pilot”).

The drilling program is planned to consist of at least ten reverse circulation drill holes totaling approximately 2,000 meters. 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 several exploration targets of which one, Hidden Treasure, is the current focus of Logan’s exploration program.

Discovery outcrops at Hidden Treasure consist of gold-bearing quartz veins and breccias, which display evidence of multiple hydrothermal events in a structurally complex setting. 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.  Drilling by Pilot in 2011 confirmed the presence of significant gold in the silica cap, returning results that averaged 1-3 g/t Au over 10-30 metres width (PB-17, PB 24, PB-25).  Drill holes also encountered deeper, higher grade Au vein mineralization, with assay values to 15 g/t Au over 1.5 meters* (PB-19, PB 24). To see the complete Pilot drill results for the Hidden Treasure target click here or visit the Logan Resources website.

As reported in the September 20, 2016 News Release, both the silica cap and lower zone vein mineralization will be tested in the current program, together with geophysical targets interpreted to represent additional zones of silicification favorable for gold mineralization. 

The Brik property is located in the Cedar Range of Lincoln County, Nevada. The nearest community is the town of Panaca, located 15 kilometers away. The property consists of 135 unpatented lode claims on public lands under BLM jurisdiction, owned by either Logan or Pilot. 

To see a graphic with historic Pilot holes and the proposed Logan collars, click here or visit the Logan Resources website. 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

Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing mineral properties. For more information on the property portfolio and Logan, please visit www.loganresources.ca.

LOGAN RESOURCES LTD.

On behalf of the Board
“Mark Morabito”
Chief Executive Officer

For further information regarding this press release, please contact:

Investor Relations
T: 604-681-8030 x 240
F: 604-681-8039
E: info@loganresources.ca
www.loganresources.ca

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, and (iii) 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 - September 20, 2016) - Logan Resources Ltd. (TSX VENTURE: LGR) ("Logan" or the "Company") announces the commencement of exploration and planned drill programs for the Brik and Drum Projects, located in southeast Nevada and western Utah, respectively. The projects are the subject of a previously-announced Option Agreement (see Logan news release July 7, 2016) with Pilot Gold Inc. ("Pilot"). Under the Option Agreement, Logan can earn a 51% participating interest in four of nine properties (the "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.

Brik Project, Nevada

The Hidden Treasure target at the Brik Project represents a high priority exploration target for Logan; drilling is anticipated to begin before the end of October, 2016. An eleven-hole, 2,000 meter reverse-circulation drill program is planned with the objective to follow up on strong gold intercepts from the 2011 Pilot Gold drill program, as well as to test deeper resistivity targets generated by the CSAMT survey.

The Brik property is located in the Cedar Range of Lincoln County, Nevada. The nearest community is the town of Panaca, located 15 kilometers away. The property consists of 135 unpatented lode claims on public lands under BLM jurisdiction, owned by either Logan or Pilot.

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, will be the focus of Logan's exploration program. Discovery outcrops at Hidden Treasure consist of gold-bearing quartz veins and breccias, which display evidence of multiple hydrothermal events in a structurally complex setting. 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. Drilling by Pilot in 2011 confirmed the presence of a significant, sub-horizontal mineralized zone at surface that averages 1-3 g/t gold over 10-30 meters width (PB-17, PB 24, PB-25)*. Drill holes also encountered deeper, higher grade gold mineralization probably controlled by steep structures (PB-19, PB 24)*. Please refer to Logan's website to see the full results of the drill holes completed by Pilot Gold.

Taken together, evidence from outcrop and drilling indicates the Hidden Treasure target is open for expansion in all directions with good potential for additional mineralization at depth and along strike.

Drum Project, Utah

The Drum Project is located 50 kilometers northwest of Delta, Utah. The property consists of 87 unpatented lode claims, located on public lands under BLM jurisdiction. Five distinct targets have been defined on the basis of rock and soil geochemistry and detailed geologic mapping. Each target is associated with the presence of outcropping jasperoid, with sub-gram gold concentrations common and maximum values in the range of 3-6 g/t. Host rocks are Cambrian shale and limestone that correspond to the same stratigraphic sequence at the adjacent Drum Mine, which produced in the order of 85,000 oxide ounces in the 1980s. Logan is planning to commence a 15-hole, 2,150 meters reverse-circulation drill program in Q1 of 2017.

Logan believes the Drum property to be under-explored and highly prospective for discovery of a sedimentary rock-hosted, "Carlin-type" gold system. It represents a rare example of a recent, grassroots gold discovery with multiple, undrilled targets at surface.

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 NI 43-101.

About Logan

Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing mineral properties. For more information on the property portfolio and Logan, 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 of the exploration program, (ii) the exploration potential and prospective nature of the properties, and (iii) the potential results of the exploration 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 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.

Logan Resources Ltd. (TSX-V: LGR) (“Logan” or the “Company”) announces it has closed on the option agreement (the “Option Agreement”) with Pilot Gold (USA) Inc. (“Pilot Gold”) to acquire up to an 80% interest in certain gold mineral exploration properties located in Nevada and Utah, USA (the “Transaction”). With this closing, Logan has successfully transitioned into a dynamic gold exploration company, with a portfolio of prospective exploration projects located among some of the most prolific gold-bearing districts in the world, including the Cortez Trend, the Eastern Calderas, and the Long Canyon Trend. The details of the Transaction and a brief description of the properties are described in the Company’s press release dated July 7, 2016.

In connection with the Transaction, the Company previously closed a private placement for gross proceeds of C$2.2 million (See Logan Resources news release – August 4, 2016). On closing the Company issued 4,231,037 common shares to Pilot Gold. These common shares are subject to a statutory four-month hold period expiring on December 19, 2016. The Company is conducting site visits to the properties and will provide the details of its planned 2016 and 2017 work program in a future news release.

Commenting on this news, Craig Bow, Vice President Exploration, said, “These projects are highly prospective gold properties and they are located in excellent jurisdictions for mineral exploration. With the financing closed and several drill targets already established, we will be able to move quickly and efficiently into a work program. We are excited to get started and we look forward to sharing our exploration plans with the market shortly.”

The Company anticipates a resumption of trading of its common shares on the TSX Venture Exchange on August 22, 2016.

About Logan

Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing mineral properties. For more information on the property portfolio and Logan, please visit www.loganresources.ca.

Mr. Craig Bow, Vice President Exploration of Logan, is a Qualified Person (“QP”) as defined by National Instrument 43-101.  The QP is a member in good standing of the American Institute of Professional Geologists as a Certified Professional Geologist (P.Geo.). Mr. Bow has reviewed and is responsible for the technical information disclosed in this press release.

LOGAN RESOURCES LTD.
On behalf of the Board
“Carlo Valente”
Chief Financial Officer

 

For further information regarding this press release, please contact:

Investor Relations
T: 604-681-8030 x 240
F: 604-681-8039
E: info@loganresources.ca
www.loganresources.ca

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 prospective nature of the properties and (ii) the Company’s future exploration plans.

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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