Logan Resources Ltd.

Logan Resources Ltd.

December 22, 2006 14:00 ET

Logan Resources Completes Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 22, 2006) - Logan Resources Ltd. (the "Company") (TSX VENTURE:LGR)(PINK SHEETS:LGREF) today announced the completion of a private placement consisting of 1,270,000 flow-through units ("Units") at a price of $0.40 per Unit for proceeds of $508,000. Each Unit consists of one flow-through common share in the capital of the Company and one-quarter of one share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one non-flow-through common share at $0.60 per share for 12 months. The financing was arranged by the MineralFields Group.

The Company paid compensation in connection with the financing consisting of: a $20,000 cash finders fee; a $10,000 due diligence fee; and issued 125,000 warrants which entitle the holders to purchase one non-flow-through common share at $0.60 per share for 12 months. The proceeds from the sale of the Units will be used to incur qualifying expenses on the Company's Canadian mineral properties.

"We are pleased to be entering into this relationship with MineralFields Group and look forward to working with them as we develop our Canadian mineral properties," said Seamus Young, President and CEO.

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.

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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