Logan Completes Initial Earn-In on Four Gold Properties in Nevada, USA
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Logan Completes Initial Earn-In on Four Gold Properties in Nevada, USA
August 22, 2017
VANCOUVER, BRITISH COLUMBIA, Loga n Resources Ltd. (LGR: TSX-V) (“Logan” or the
“Company”) is pleased to announce the completion of the initial earn-in on four gold properties from the
Option Agreement (the “ Option Agreement ”) dated July 7, 2016 between Liberty Gold (USA) Corp.
(“Liberty Gold”) and Logan. Logan has satisfied the conditions of the Option Agreement and has earned
a 51% participating interest in the following four properties, all located in Nevada, USA: (i) Brik, (ii) Viper,
(iii) Antelope, and (iv) Easter. Logan now has the option to ea rn a participating interest of up to 80% on
the four properties.
The Brik property is located in the Cedar Range of Lincoln County, Neva da. The Hidden Treasure target
on the Brik property contains mul tiple zones of gold mineralization in quartz veins, silicified andesite, and
breccia zones. The November 2016 drill program at Brik confirme d the presence of significant oxide gold
both in the near-surface and at depth (results previously announced in news release March 1, 2017).
The Viper property is located in eastern Elko County, Nevada. Gold miner alization on the Viper property
is related to the presence of quartz-calcite veins and vein sto ckworks. Individual veins exhibit spectacular
bladed and lattice epithermal textures and free gold is visible in a number of outcrops on the property.
Logan has consolidated the greater part of the Viper District b y signing a Mining Lease and Purchase
Option Agreement (the “Angel Wing Agreement”) to acquire a lease of the Angel Wing Property and the
digital database for these claims.
The Antelope property is located in norther n White Pine County, Nevada. Sig nificant concentrations of
gold occur in two sediment-hosted jasperoid zones with even hig her concentrations of gold associated
with dike margins and fault zones. The Antelope property is loc ated within an 80 kilometer radius of four
modern gold mines. The results of the recent drilling campaign at Antelope (announced in news release
June 20, 2017) will be the subject of an upcoming news release.
The Easter property is located in the Easter n Calderas of Lincoln County, Nevada. Previous exploration
programs on the Easter property focused on a limited segment of the outcropping epithermal vein system,
eventually outlining a NI 43-101 resource, but the deposit remains unconfined and unexplored down-dip.
Logan has returned the following properties to Liberty Gold: (i) Drum, (ii) Griffon, (iii) Sandy, (iv) Stateline,
and (v) Anchor.
Terms of the Option Agreement
o Logan can earn a 70% interest in the four selected properties by incurring additional expenditures
of US$2 million within 36 months of the closing date, and arran ging for one million common
shares of Logan to be delivered to Liberty Gold.
o Logan will then have the additional option to earn an 80% inte rest in any of the selected
properties for which it completes a pre-feasibility study.
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Logan and Pilot Gold will form a j oint venture once Logan earns 80% interest in a selected property, or
earlier if Logan declines to exercise its additional interest o ptions. Each party will thereafter be
responsible for its pro rata share of expenditures on the selected property.
The technical information within this document has been reviewe d and approved by Dr. Craig S. Bow,
Vice President Exploration for Logan. Dr. Bow is a Qualified Person as defined in NI 43-101.
About Logan Resources Ltd.
Logan Resources Ltd. (LGR: TSX-V) is a junior exploration compa ny in the business of acquiring and
advancing mineral properties. Logan’s focus is on actively expl oring nine gold properties in Nevada and
Utah, USA that are under option fr om Liberty Gold (USA) Corp. L ogan also has a 20% carried interest in
the Gorilla Lake uranium property , and has a 100% interest in t he Redford iron ore property on
Vancouver Island, Canada. Redford is a former producing iron ore mine.
For more information, please visit www.loganresources.ca.
www.kingandbay.com
Logan is part of the King & Bay West group of companies. King & Bay
West is a merchant bank and management services company that
specializes in identifying, f unding, developing and managing gr owth
opportunities in the resource and technology sectors.
LOGAN RESOURCES LTD.
On behalf of the Board
“Mark Morabito”
Chief Executive Officer
For further information regarding this news release, please contact:
Christina Baron, Manager of Corporate Development
T: 604-681-8030 x 289
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events t hat may occur in the f uture. Forward
looking information contained in this news release includes, but is not limited to, statements with respect to (i) the exploration potential and prospective
nature of the properties disclosed in this news release, (ii) th e details of future exploration plans and potential results, an d (iii) potential gold
mineralization on the properties.
In certain cases, forward-looking information c an be identified by the use of words such as "plans", "expects " or "does not exp ect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "ant icipates" or "does not anticipat e", or "believes", or variation s of such words and phrases
or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes,
or other expectations, belie fs, plans, objectives, assumptions, intentions or statements about fu ture events or performance. Fo rward-looking
information contained in this news release is based on certain factors and assumptions regarding, among other things, the estim ation of mineral
resources, the realization of resource and reserve estimates, gold and other commodity prices, the timing and amount of future exploration and
development expenditures, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and
develop the Company’s properties in the short and long-term and to acquire new properties, the progress of exploration and development activities, the
receipt of necessary regulatory approvals, the estimation of insurance coverage, and as sumptions with respect to currency fluct uations, environmental
risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable base d on information
currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainti es and other factors which may cause the actual result s, performance or
achievements of the Company to be materiall y different from any future results, perf ormance or achievemen ts expressed or implie d by the forward-
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looking information. Such factors include risks inherent in the exploration and development of mineral deposits, risks relating to variations in mineral
resources, grade or recovery rates result ing from current exploration and development activities, risks relating to the ability to access infrastructure,
risks relating to changes in gold and other commodity prices and the worldwide demand for and supply of gold and related produc ts, risks related to
increased competition in the market for gold and related produ cts and in the mining industry generally, risks related to curren t global financial
conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, reliance on key personnel, operational risks inherent
in the conduct of mining activities, including the risk of ac cidents, labour disputes, increases in capital and operating costs and the risk of delays or
increased costs that might be encountered during the development process, regulatory risks, including risks relating to the acquisition of the necessary
licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development
activities on the Company’s properties, or to acquire new properties, may not be available on satisfactory terms, or at all, ri sks related to disputes
concerning property titles and interest, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and
filings with applicable Canadian securities regulators.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ m aterially from those
described in forward-looking information, there may be other fact ors that cause actions, events or results not to be as anticip ated, estimated or
intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date
of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any
forward-looking information.
Neither TSX Venture Exchange nor its Regulation Serv ices Provider (as that term is defined in the
policies of the TSX Venture Exchange) has revi ewed or accepts responsibility for the adequacy or
accuracy of this release.