Logan Resources Ltd.

Logan Resources Ltd.

December 18, 2006 13:16 ET

Logan Resources Announces Flow-Through Financing With MineralFields

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 18, 2006) - Logan Resources Ltd. (the "Company") (TSX VENTURE:LGR)(PINK SHEETS:LGREF) is pleased to announce a private placement consisting of 1,250,000 flow-through units ("FT Units") at a price of $0.40 per FT Unit for proceeds of $500,000. Each FT Unit consists of one common share in the capital of the Company and one-quarter of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable for 12 months at $0.60 per share. The financing was arranged by the MineralFields Group.

The Company has agreed to pay a 4% finders fee, a 2% due diligence fee and issue 125,000 share purchase warrants exercisable for 12 months at $0.60 per share as finders fees in connection with the private placement. The proceeds from the sale of the FT Units will be used to incur qualifying expenses on the Company's Canadian mineral properties.

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

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Information about the MineralFields Group is available at www.mineralfields.com.


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.

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

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