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Re:   Corporate News - Wednesday, November 24, 2010
      Private Placement Closed
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Not for distribution to news wire services in the United States.

Vancouver, BC, November 24, 2010 - Logan Resources Ltd. (TSXV:LGR) (the "Company") today announced that it has closed a non-brokered private placement and has issued: (i) 10,283,332 Flow-Through units ("FT Units") at a price of $0.075 per FT Unit; and (ii) 6,666,667 Non-Flow-Through Units ("NFT Units") at a price of $0.06 per NFT Unit for gross proceeds of $1,171,250.  Each FT unit is comprised of one "flow-through" common share and one non-flow-through share purchase warrant (a "FT Warrant").  Each FT Warrant is exercisable at a price of $0.15 per share for a period of one year.  Each NFT Unit is comprised of one non-flow-through common share and one non-flow-through share purchase warrant (a "NFT Warrant").  Each NFT Warrant is exercisable at a price of $0.12 per share for a period of one year.

The Company also issued 722,500 NFT Units as finders fee in connection with the sale of FT Units and NFT Units.  The common shares and the shares to be issued upon exercise of the Warrants are subject to a hold period until March 25, 2011.

The proceeds from the sale of the FT Units will be used to fund exploration work in the Company's mineral properties in the Yukon and British Columbia.  The proceeds from the sale of the NFT Units will be used for general working capital.

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

ON BEHALF OF THE BOARD

"Seamus Young"
 Seamus Young
 President and CEO

For Further Information Please Contact:

Seamus Young, President & CEO
syoung@loganresources.ca
T: 604-689-0299 x 223

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from registration is available.

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Copyright (c) 2010 LOGAN RESOURCES LTD. (LGR)  All rights reserved.
For more information visit our website at http://www.loganresources.ca/
or send mailto:info@loganresources.ca
Message sent on Wed Nov 24, 2010 at 3:39:58 PM Pacific Time
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