Logan Signs Option and JV Agreement to Acquire Idaho Gold Property

Logan Resources Ltd. (TSX VENTURE:LGR) ("Logan" or the "Company") is pleased to
announce that it has signed an Option and Joint Venture Agreement (the
"Agreement") with Premium Exploration Inc. ("Premium") which affords Logan the
option to acquire up to a 75% interest in the Idaho Gold Property.


Property Details

The Idaho Gold Property (the "Property") is a contiguous land package
encompassing approximately 18,000 hectares (ha) in north-central Idaho.
Contained within this package is the Friday-Petsite gold deposit with an
Indicated Mineral Resource estimate of 629,000 oz (21.5 Mt @ 0.91 g/t Au) and an
Inferred Mineral Resource estimate of 146,000 oz (5.9 Mt @ 0.77 g/t Au).


The property also encompasses the Buffalo Gulch gold deposit which has a
historic Indicated Mineral Resource estimate of 111,000 oz (4.8 Mt @ 0.8 g/t),
and the Deadwood gold deposit that has a historic Indicated Mineral Resource
estimate of 39,000 oz (1.6 Mt @ 0.75 g/t Au) and an Inferred Mineral Resource
estimate of 18,000 oz (0.7 Mt @ 0.75 g/t Au). These historical resource
estimates were completed by Micon International for Beartooth Platinum in 2004.
The estimates were based on a polygonal resource calculation method. The
estimates use Indicated and Inferred resource categories that are consistent
with National Instrument 43-101 ("NI 43- 101") and CIM definitions. There are no
recent mineral resource estimates at Buffalo Gulch or Deadwood. Given the
quality of the historic work completed on the Property, the Company believes the
resource estimates to be both relevant and reliable. However, a qualified person
has not completed sufficient work to classify the historic mineral resources as
current mineral resources, and the Company is not treating the historic
resources as current.


The mineral resource estimates with respect to the Property are from the
Technical Report titled "Technical Report, Idaho Gold Project, Idaho County,
Idaho, USA" dated effective May 31, 2012, filed on SEDAR on August 16, 2012 and
prepared for Premium (the "Technical Report"). Mr. Adrian Bray, P. Geo,
President & CEO of the Company and a Qualified Person as defined by NI 43-101,
has reviewed the Technical Report on behalf of the Company. To the best of the
Company's knowledge, information, and belief, there is no new material
scientific or technical information that would make the disclosure of the
mineral resources inaccurate or misleading.


Transaction Details

Under the terms of the Agreement, the Company can earn a 51% interest in the
Property ("Interest") by doing the following: 




i.  Making a cash payment of $250,000 to Premium on the Closing Date.
     
ii. Providing a secured bridge loan in the amount of $250,000 to Premium
    (the "Bridge Loan") on the Closing Date. The Bridge Loan shall be for a
    term of twenty-four (24) months (the "Maturity Date") and shall bear
    interest at a rate of 5% per annum, calculated and payable on the
    Maturity Date. The Company shall have the option, exercisable at any
    point up to and including the Maturity Date, to apply the principal and
    accrued interest amount of the Bridge Loan as credit to the Exploration
    Expenditures (discussed below) and have such expenditure commitment
    reduced by a corresponding amount.
     
iii.Incurring a total of $5,000,000 in exploration, permitting and
    development expenditures ("Exploration Expenditures") on the Property as
    follows:
      
    a.  $1,500,000 in Exploration Expenditures on or before 12 months from
        the Closing Date; and
         
    b.  $3,500,000 in Exploration Expenditures on or before 36 months from
        the Closing Date,



The Company may earn a 75% Interest in the Property by doing the following:



i.  Completing the conditions required to earn the 51% Interest in the
    Property.
     
ii. Issuing 5,000,000 common shares of the Company to Premium.
     
iii.Incurring additional Exploration Expenditures of $3,000,000 on the
    Property on or before the date that is 60 months from the Closing Date.



A Joint Venture will be formed between the Company and Premium at the time that
the Company earns its 75% Interest in the Property (or at the time the Company
earns a 51% Interest in the Property and fails to satisfy the conditions
required to earn a 75% Interest). Once the joint venture is formed, each of the
Company and Premium will be responsible for its pro rata share of expenditures
on the Property thereafter. Closing of the transaction is subject to a number of
conditions, including approval of the TSX Venture Exchange and the completion of
a financing satisfactory to the Company.


About Logan

Logan Resources Ltd. is a mineral exploration company that specializes in
acquiring, exploring and advancing 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
www.loganresources.ca.


Logan Resources Ltd. is led by Forbes West, in association with Forbes &
Manhattan. Forbes West is a Vancouver-based mining services company established
by Mr. Mark Morabito. Forbes West provides administrative, management,
geological, regulatory, tax, corporate development and investor relations
services to mining companies throughout North America. Forbes West specializes
in identifying, funding, developing and managing resource-based opportunities,
with a special interest on the junior mining sector. With an office that is
fully Sarbanes-Oxley compliant, Forbes West is vertically integrated with
in-house geology, legal and corporate finance departments. Forbes West is
focused on enhancing value to its growing portfolio of noteworthy public mining
companies including Alderon Iron Ore Corp., Crosshair Energy Corporation, Cap-Ex
Iron Ore, Excelsior Mining Corp, Logan Resources Ltd. and Ridgemont Iron Ore
Corp.


Adrian Bray, P.Geo., President & CEO of the Company and a Qualified Person as
defined by NI 43-101, has reviewed and approved the technical information
contained in this news release.


LOGAN RESOURCES LTD.

On behalf of the Board

Adrian Bray, President & CEO

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. Forward-looking statements in this document include statements
about the Property, the mineral resource estimate, the closing of the
transaction and terms of the Agreement. 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; 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 the management discussion
and analysis section of our interim and most recent annual financial statement
or other reports and filings with the TSX Venture Exchange and applicable
Canadian securities regulations. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that statements are
made and the Company 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Logan Resources Ltd.
Konstantine Tsakumis
Investor Relations
604-681-8030 x 232