Logan Resources announces $3.5 million private placement

    VANCOUVER, Nov. 20 /CNW/ - Logan Resources Ltd. (TSXV:LGR) ("The
Company") today announced a non brokered private placement. The financing
consists of up to 7,500,000 flow-through units (the "FT Units") at a price of
$0.40 per FT Unit and up to 1,428,572 non-flow-though units (the "NFT Units")
at a price of $0.35 per NFT Unit, for total gross proceeds of up to $3,500,000
(the "Offering").
    Each FT Unit will consist of one flow-through share and one-half of one
non-flow-through share purchase warrant (a "FT Warrant"). Each whole FT
Warrant is exercisable at $0.50 for 18 months.
    Each NFT Unit will consist of one common share and one share purchase
warrant (a "NFT Warrant"). Each NFT Warrant is exercisable at $0.45 for
18 months.
    A finder's fee or commission of 8% will be paid in cash, or in NFT Units,
at the election of the finder.
    The Offering is subject to TSX Venture Exchange acceptance. All
securities issued pursuant to the Offering will be subject to a four-month
hold period from the closing date.
    The proceeds from the flow-through portion of the financing will be used
for exploration programs on the Company's properties in the Yukon Territory,
with a particular focus on exploration and drilling at its Shell Creek (Cu,
Au) project.
    Proceeds from the non flow-through portion of the financing will be used
for working capital and general exploration.

    Logan Resources Ltd. is a mineral exploration company that specializes in
acquiring, exploring and advancing Canadian mineral properties. The Company
has a diversified portfolio of precious metal, base metal and uranium
projects. For more information on the property portfolio and the Company,
please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.

    "Seamus Young"
    Seamus Young
    President and CEO

    Statements contained in this news release that are not historical facts
are forward-looking statements, which are subject to a number of known and
unknown risks, uncertainness and other factors that may cause the actual
results to differ materially from those anticipated in our forward looking
statements. Although we believe that the expectations in our forward looking
statements are reasonable, actual results may vary, and we cannot guarantee
future results, levels of activity, performance or achievements.

    This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from registration is available.

    The TSX Venture Exchange has neither approved or disapproved the
    information contained herein.

For further information:

For further information: Seamus Young, President & CEO,
syoung@loganresources.ca, T: (604) 689-0299 x 223

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