Logan Resources Ltd.
TSX VENTURE : LGR
PINK SHEETS : LGREF

Logan Resources Ltd.

March 28, 2006 06:00 ET

Logan Resources Announces $3.25 Million Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 28, 2006) - Logan Resources Ltd. (the "Company") (TSX VENTURE:LGR)(PINK SHEETS:LGREF) today announced that it has arranged a brokered private placement through Pacific International Securities Inc. ("PI"). The financing consists of 5,000,000 flow-through units at a price of $0.55 per flow-through unit (the "FT Units") and 1,000,000 non-flow-through units at a price of $0.50 per non-flow-through unit (the "Units"), for total gross proceeds of up to $3,250,000 ("the Offering").

Each FT Unit shall consist of one flow-through common share and one half of one common share purchase warrant, with each whole such warrant exercisable into one common share of the Company for a period of 18 months from the closing date at a price of $0.70.

Each Unit shall consist of one common share and one half of one transferable common share purchase warrant, with each whole such warrant exercisable into one common share of the Company for a period of 18 months from the closing date at a price of $0.70.

A commission of 8% of the gross proceeds of the Offering and compensation options equal in number to 10% of the aggregate number of Units and FT Units sold will be paid and delivered to PI on closing. PI may elect to receive a portion or all of its commission in Units. Each compensation option entitles PI to purchase one common share at an exercise price of $0.70 for a period of 18 months from the closing. PI has also been granted an over-allotment option to increase the number of Units and FT Units in the Offering by up to 25%.

The Company also announced a non-brokered private placement of up to 500,000 non-flow through Units for gross proceeds of up to $250,000. Each Unit shall consist of one common share and one half of one transferable common share purchase warrant, with each whole such warrant exercisable into one common share of the Company for a period of 18 months from the closing date at a price of $0.70. A 10% finder's fee will be attached to the non-brokered financing payable in cash or common shares.

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 on the Company's properties in the Yukon and British Columbia. Proceeds from the non-flow-through portion of the financing will be used for working capital and general exploration.

Logan Resources specializes in acquiring and developing early-stage exploration properties with the potential to yield world-class deposits. The Company is currently exploring for copper, gold and uranium in the Yukon Territory, British Columbia and Saskatchewan. For more information on the properties and the Company please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.

ON BEHALF OF THE BOARD OF DIRECTORS,

Seamus Young, President, 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, uncertainties 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 does not constitute an offer to sell or a solicitation of an offer to sell any of 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 to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Warning: The Company relies upon litigation protection for "forward-looking" statements.

The TSX Venture has neither approved nor disapproved the information contained herein.

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