Logan Resources Announces Commencement of Drilling Program at Gorilla Lake Property, Athabasca Basin, Saskatchewan
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Logan Resources Announces Commencement of Drilling Program at Gorilla Lake
Property, Athabasca Basin, Saskatchewan
February 27, 2017
VANCOUVER, BRITISH COLUMBIA, Loga n Resources Ltd. (LGR: TSX-V) (“Logan” or the
“Company”) is pleased to announce that ALX Uranium Corp (AL: TSX-V) (“ALX”) has commenced their
diamond drilling program at t he Gorilla Lake property (“ Gorilla Lake”, or the “ Property”) in the western
Athabasca Basin, Saskatchewan. Gorilla Lake is located within t he Carswell Impact Structure
approximately 15 km north of the past-producing Cluff Lake uran ium mine, which operated from 1980 to
2002.
ALX has an 80% ownership interest with Logan having a 20% inter est carried through feasibility. ALX is
the operator of the Gorilla Lake property and as such, will fun d 100% of the project- related costs. Logan
Resources acquired the Gorilla Lake property in 2004 and in 200 5 optioned the property to ESO Uranium
Corp., a predecessor company to ALX.
The 2017 drilling program is planned to include four holes tota ling approximately 1,000 metres. Work will
be focused on the northern portion of the Property and will fol low up on basement-hosted uranium
mineralization that was previously intersected in historical holes CLU-01 (0.46% U3O8 over 1.5 m) and CLU-
07 (0.17% U 3O8 over 7.0 m), drilled in 2006. The uranium mineralization is as sociated with numerous
conductors, as defined by airborne and ground electromagnetic ( “EM”) surveys and is coincident with a
distinct northeast-trending gravity low highlighted from a grou nd gravity survey conducted in the winter of
2016.
In addition, drilling will test an airborne electromagnetic ano maly approximately 1,500 metres south of
Gorilla Lake coincident within a distinct northeast-southwest striking gravity low.
To view a map of the geophysical anomalies and planned 2017 dri ll target areas, please visit the Logan
website at: http://www.loganresources.ca/index.php/projects/gorilla-lake
About Gorilla Lake
The Gorilla Lake property consists of two contiguous mineral claims totaling 7,552 ha (18,661 acres) within
the Carswell Impact Structure in the western portion of the Athabasca Basin, northern Saskatchewan. The
Property is held 80% by ALX with Logan having a 20% carried interest. ALX is the operator of the Property
and funds 100% of the costs associated with the Project.
Gorilla Lake is one of ALX’s Cluff Lake group of three contiguous properties adjoining the former Cluff Lake
mine site, where over 62 million pounds of U 3O8 were extracted during a 22-year operating life through a
combination of three open pit mines and four underground mines by predecessor companies of AREVA
Resources Canada Inc.
NI 43-101 Disclosure
Technical information in this news release has been reviewed an d approved by Sierd Eriks, P. Geo.,
President and CEO of ALX, who is a Qualified Person in accordan ce with the Canadian regulatory
requirements set out in National Instrument 43-101.
About ALX Uranium Corp.
ALX Uranium Corp. (AL: TSX-V) is a junior uranium exploration company formed in 2015 as the result of a
business combination between Lakeland Resources Inc. and Alpha Exploration Inc. ALX is actively
exploring a portfolio of prospective properties in the Athabasca Basin, totaling over 140,000 hectares. For
more information on the project portfolio and the company, please visit https://www.alxuranium.com/.
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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 from Pilot Gold Inc. Logan also has a 20% carried interest in the Gorilla
Lake uranium property, and has a 100% interest in the Redford i ron ore property on Vancouver Island,
Canada. Redford is a former producing iron ore mine. For more i nformation, please visit
www.loganresources.ca.
LOGAN RESOURCES LTD.
On behalf of the Board
“Mark Morabito”
Chief Executive Officer
For further information regarding this news release, please contact:
Jennifer Paterson, Manager of Corporate Development
T: 604-681-8030 x 248
www.loganresources.ca
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may occur in
the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect
to (i) the timing and details of the drill program, (ii) the exploration potential and prospective nature of the properties, (i ii)
potential uranium mineralization on the properties; and (iv) the potential results of the drill program.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "e stimates", "forecasts", "i ntends", "anticipates" or " does not anticipate", or
"believes", or variations 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, beliefs, plans, objectives,
assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news
release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources, the
realization of resource and reserve estimates, gold, uraniu m 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 assumptions with respect to currency fluctuations, environmental risks, title disputes or
claims, and other similar matters. While the Company consider s these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of t he Company to be materially different fr om any future results, performance or
achievements expressed or implied by the forward-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 resulting from
current exploration and development activities, risks relating to the ability to access infrastructure, risks relating to changes in
gold, uranium and other commodity prices and the worldwide demand for and supply of gold, uranium and related products,
risks related to increased competition in the market for gold, uranium and related products and in the mining industry generally,
risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and
supply risks, reliance on key personnel, operat ional risks inherent in the conduct of mining activities, in cluding the risk of
accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be
encountered during the development process, r egulatory risks, including risks relating to the acquisition of the necessary
licenses and permits, financing, capitalizati on and liquidity risks, including the risk that the financing necessary to fund th e
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exploration and development activities on the Company’s properties, or to acquire new properties, may not be available on
satisfactory terms, or at all, risks related to disputes conc erning 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
materially from those described in forward-looking information, there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. Accordingl y, 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 Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.