Yorbeau Announces Receipt of Scheduled Cash Payment from Iamgold IN Order to Maintain Its Option ON the Rouyn Property
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
PRESS RELEASE
FOR IMMEDIATE RELEASE
YORBEAU ANNOUNCES RECEIPT OF SCHEDULED CASH PAYMENT FROM
IAMGOLD IN ORDER TO MAINTAIN ITS OPTION ON THE ROUYN PROPERTY
Montreal, June 1 1, 20 20 – Yorbeau Resources Inc. (TSX: YRB) (" Yorbeau" or the " Company") is
pleased to announce that in order to maintain its option to purchase a 100% interest in the Rouyn property,
IAMGOLD Corporation ("IAMGOLD") has made a cash payment to Yorbeau in the amount of $500,000
corresponding to the second in a series of scheduled cash payments to be made to Yorbeau during an
Expenditure Period of 48 months.
The terms of the definitive option agreement were announced in the Company's press release dated
December 17, 2018. Among other commitments, IAMGOLD must make scheduled cash payments in an
aggregate amount of C$4 million during the Expenditure Period. In the first year, IAMGOLD has met its
expenditure obligation to incur a minimum of C$2 million exploration expenditures on the property .
Moreover, IAMGOLD has already exceed ed their minimum drilling commitment ( completion of a
minimum of 20,000 metres of diamond drilling within the first two- years) by drilling to date more than
30,000 metres on the Rouyn property.
G. Bodnar Jr., Company president commented: " We continue to be e xtremely pleased by our business
relationship with IAMGOLD. This payment reflects the satisfaction of our partner in the results obtain ed
to date from infill and evaluation drilling programs. We are looking forward to resuming drilling activities
on Astoria in the coming weeks."
About the Rouyn Gold Project
The Rouyn Gold Property is located about 4 km south of Rouyn-Noranda, Quebec. With a long history of
mining, the city of Rouyn-Noranda offers many advantages for mining and exploration, including political
and social stability, good access and infrastructure, skilled mining personnel, and one of the most mining-
friendly jurisdictions in the world.
The property covers a 12- kilometre stretch of the Cadillac -Larder Lake Break and contains four known
gold deposits along the 6- km Augmitto-Astoria corridor situated on the western portion of the property.
Two of the four deposits, Astoria and Augmitto, ben efit from established underground infrastructure and
have been the subject of technical reports that include resource estimates that were previously filed in
accordance with Regulation NI 43-101.
The Lac Gamble zone is located between the Augmit to and the Astoria deposits. The exploration target
potential at Lac Gamble is interpreted to be between 400,000 and 600,000 ounces of gold at a grade between
7.0 and 8.5 g/t Au. The potential quantity and grade of the exploration targets referred to are conceptual in
nature and insufficient exploration work has been completed to define a mineral resource. The property
may require significant future exploration to advance to a resource stage and there can be no certainty that
the exploration target will result in a mi neral resource being delineated. The exploration targets are
consistent with similar deposits in the area, deposit models or derived from initial drilling results.
IAMGOLD signed a definitive option agreement in December 2018, whereby IAMGOLD has the opti on
to acquire a 100% interest in the Project by making scheduled cash payments totaling C$4 million and
completing exploration expenditures totaling C$9 million over a four -year period. Exploration programs
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
must include the completion of a minimum of 20,000 metres of diamond drilling within the first two-years
of the option. By the end of the expenditure period, IAMGOLD must complete a NI 43 -101 compliant
resource estimate, after which IAMGOLD, at its election, can purchase a 100% interest in the Project,
subject to a 2% net smelter return production royalty, by paying Yorbeau the lesser of C$15 per resource
ounce or C$30 million. IAMGOLD is in the second year of the option agreement.
About Yorbeau Resources Inc.
The Rouyn Property, wholly-owned by the Company, contains four known gold deposits in the 6-km-long
Augmitto-Astoria corridor situated on the western portion of the property. The Company signed a definitive
agreement in December 2018, whereby IAMGOLD has the option to acquire a 100% interest in the Rouyn
property, and a major drilling program is underway. Two of the four deposits, Astoria and Augmitto, benefit
from substantial underground infrastructure and have been the subject of technical reports that include
resource estim ates and that were filed in accordance with Regulation 43- 101. In 2015, the Company
expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas
of the Abitibi Belt of Quebec that feature infrastructure favo urable for mining development. The newly
acquired base metal properties include the Scott Project, which bears important mineral resources (see the
press release dated March 30, 2017) and on which a positive Preliminary Economic Assessment was
recently completed.
For additional information on the Company, consult its website at www.yorbeauresources.com.
For further information, please contact:
Sylvain Lépine, M.Sc, P. Geo G. Bodnar Jr.
General Manager Exploration, President, Chief Financial Officer
Yorbeau Resources Inc. Yorbeau Resources Inc.
[email protected] [email protected]
Tel: 819-277-0577 Tel: 514-384-2202
Toll free in North America: 1-855-384-2202
Forward-looking statements: Except for statement of historical fact, all statements in this news release,
including without limitation, regarding the prospects of the Rouyn project, drilling results, future plans and
objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance
that such statements will prove to be accurate; actual results and future events could differ materially from
those anticipated in such statements. Yorbeau disclaims any obligation to update such forward -looking
statements, other than as required by applicable securities laws.