Logan Resources Ltd.

Logan Resources Ltd.

March 15, 2005 18:48 ET

Logan Resources Ltd.: Property Option


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: LOGAN RESOURCES LTD.

TSX VENTURE SYMBOL: LGR

MARCH 15, 2005 - 18:48 ET

Logan Resources Ltd.: Property Option

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 15, 2005) - Logan
Resources Ltd. (TSX VENTURE:LGR) (the "Company") is pleased to announce
that it has entered into an option agreement with Essendon Solutions
Inc. (ESO) to earn 50% interest in the uranium mineral claims (Claim
Numbers S-107580 and S-107581, over 7,604 hectares). The claims are
situated on the Carswell Dome, Athabaska Basin, Saskatchewan.

The terms of the agreement are as follows, ESO shall have the right to
earn 50% interest in the property by paying $25,000 and issuing up to
200,000 common shares in the capital of ESO at a deemed price of $0.25
to Logan Resources Ltd. and fulfilling a work commitment of $300,000 on
exploration and development on the property over 3 years. The $25,000
cash payment and 100,000 of the common shares will be paid and issued to
Logan Resources Ltd. within 5 days of TSX Venture Exchange approval. ESO
will issue 50,000 common shares to Logan Resources Ltd. on the first and
second anniversary of the TSX Venture Exchange approval date. TSX
Venture Exchange accepted the property agreement for filing on March 14,
2005.

Logan Resources Ltd. is a mining exploration company engaged in the
acquisition, exploration and development of mineral properties. The
Company currently owns six precious and base metal properties in British
Columbia, the Yukon and Saskatchewan. For more information on the
properties and Logan Resources Ltd. please visit www.loganresources.ca
and SEDAR and EDGAR websites.

LOGAN RESOURCES LTD.

Seamus Young, President, CEO

Shares issued and outstanding 16,219,530

Visit www.loganresources.ca for more details.

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.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Logan Resources Ltd.
    Mr. Seamus Young
    President
    (604) 689-0299
    (604) 689-0288 (FAX)
    info@krl.net
    www.loganresources.ca
    The TSX Venture Exchange has neither approved or disapproved the
    information contained herein.