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Logan Announces Termination of Option Agreement With Ridgemont Iron Ore Corp.
Published : November 07, 2012
( 0 vote, 0/5 ) Print article

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2012) - Logan Resources Ltd. (News - Market indicators) ("Logan" or the "Company") announces the termination of the Option Agreement (the "Agreement") dated July 27, 2010, between the Company and Ridgemont Iron Ore Corp. pursuant to which Logan granted Ridgemont an option to acquire a minimum of 50% and a maximum of 75% of its interest in the Redford property. As a result, Logan will retain its 100% interest in the Redford property located on Vancouver Island, British Columbia. With the termination of the option agreement, the Company will now evaluate its strategic options with respect to the Redford property.

About Logan

Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. Logan has a diversified portfolio of precious metal, base metal and uranium projects. For more information on the property portfolio and Logan, please visit


On behalf of the Board

Adrian Bray, President & CEO

Cautionary Note Regarding Forward-Looking Information

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the advancement of the Company's mineral properties are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; issues in obtaining required permits; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Logan undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

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, and no securities regulatory authority has either approved or disapproved of the contents of this release.

Logan Resources Ltd.
Konstantine Tsakumis
Investor Relations
604-681-8030 x 232

Logan Resources Ltd

ISIN : CA5410953031
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Financings of Logan Resources Ltd
11/25/2010Private Placement Closed
10/26/2010Announces Private Placement of up to $1,000,000
2/5/2010Private Placement Closed
1/19/2010Announces $450,000 Private Placement
10/5/2009Private Placement Closed
8/20/2009First Tranche of Private Placement Closed
6/5/2009Announces $325,000 Private Placement
12/22/2008Closes Private Placement
12/9/2008Announces $200,000 Private Placement
10/12/2007 Extends Term on Share Purchase Warrants
Option Grants of Logan Resources Ltd
11/9/2010Grants Stock Options
3/11/2008Grants Stock Options
9/28/2007Announces Grant of Stock Options
Nominations of Logan Resources Ltd
7/26/2013Announces Appointment of Chief Financial Officer
5/3/2011Appoints New Directors
10/14/2008Announces New Appointments to Board of Directors and Changes...
Project news of Logan Resources Ltd
10/8/2013(Heidi)Announces Termination of Option Agreement on Heidi Property
11/23/2012(Heidi)Amends Heidi Property Option Agreement
6/23/2011(Shell Creek)Commences Work Program at Shell Creek
10/15/2009(Redford)Completes Ground Magnetic Survey on Brynnor Iron Deposit
1/26/2009Preliminary Drilling Results on Brynnor Iron Project, Vancou...
11/26/2008Initial Drilling Results Confirm Historic Results on Brynnor...
9/9/2008(Redford)Announces Initial Resource Estimate and Preliminary Economic...
8/11/2008(Carswell Dome (cluff Lake)) sign agreement for Cluff Lake area property, in the West At...
6/18/2008(Redford)Update on Redford iron ore potential, Pacific west coast of ...
6/3/2008(Redford)Provides Update on Redford Iron Ore/Gold Project on Pacific ...
1/25/2008(Shell Creek)Results Of Exploration Program On The Shell Creek Copper-Go...
11/9/2007(Heidi) Intersects Gold Over 1Km Strike At Heidi Project, Yukon Ter...
9/19/2007(Shell Creek)Identifies Redbed Copper At Shell Creek; Continues Diamond D...
7/26/2007(Shell Creek)Diamond Drill Program Underway at Logan Resources' Shell Cre...
7/25/2007(Heidi)Expands Claim Block At Heidi Gold Project; Complets Final Pa...
6/26/2007Begins Drill Program at May Creek and Continues Diamond Dril...
5/23/2007(Heidi)Diamond Drill Program at Logan's Heidi Gold Project Going We...
4/10/2007(Antler Creek Property)Completes EM Survey and Identifies Drill Targets At Antler C...
3/20/2007Diamond Drilling Confirms Gold Mineralization At Logan Resou...
Corporate news of Logan Resources Ltd
6/14/2013Announces Termination of Option Agreement With Premium Explo...
6/3/2013Amends Chuchi Property Option Agreement
4/30/2013Files Technical Report on Idaho Gold Project
4/11/2013Announces Increased Mineral Resource Estimate at Idaho Gold ...
3/28/2013Signs Option and JV Agreement to Acquire Idaho Gold Property
11/7/2012Announces Termination of Option Agreement With Ridgemont Iro...
6/8/2011Announces Property Acquisition
11/29/2010Option Agreement Completed with Ridgemont Capital
10/30/20102010 Annual General Meeting and Election of New Directors
7/28/2010Signs Option Agreement with Ridgemont Capital
6/1/2010Signs Letter of Intent with Ridgemont Capital
4/22/2010Completes Ground Magnetic Survey
11/16/2009Results From Preliminary Ground Magnetic Survey on Brynnor I...
6/5/2009Announces New Director
3/4/2009s Resource Estimate for Brynnor Iron Project, Vancouver Isla...
11/21/2008Announces Resignation of Director
11/17/2008Begins Drilling on Brynnor Iron Project, Vancouver Island
11/14/2008Correction Re: Directors and Officers
7/16/2008Applies for Coal Permits South and West of Goldsource Discov...
6/19/2008and International KRL Resources Provide Update on Turn River...
12/20/2007Completes Second Tranche of Financing
12/20/2007International KRL Resources and Logan Resources Provide Upda...
7/31/2007Five Targets Drill Tested At Logan Resources' May Creek Proj...
5/8/2007Drill Turning At Logan Resources'Heidi Gold Project, Yukon
4/26/2007Mobilizing Diamond Drill to Heidi
4/20/2007Completes Earn In on Albert Creek Lead-Zinc-Silver Property
4/16/2007Acquires Englishman Uranium Project, Yukon
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