Yorbeau Announces Receipt of Scheduled Option Payment of $500,000 from Iamgold IN Order to Maintain Its Option ON the Rouyn Property
YORBEAU RESOURCES INC.
110 Place Crémazie O, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
PRESS RELEASE
FOR IMMEDIATE RELEASE
YORBEAU ANNOUNCES RECEIPT OF SCHEDULED OPTION PAYMENT OF
$500,000 FROM IAMGOLD IN ORDER TO MAINTAIN ITS OPTION ON THE ROUYN
PROPERTY
Montreal, December 14, 2020 – 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 the next option cash payment to Yorbeau in the amount
of $500,000 corresponding to the third 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 two years, IAMGOLD has met
and exceeded its expenditure obligation of C$4 million in exploration on the property. Planned expenditure
programs for 2021 will aggregate C$2.5 million and will include the completion of approximately 15,000
metres of drilling mainly focussed on the Gamble Lake zone and other selected targets. Final assay results
are pending for the remaining eleven holes drilled on the Astoria deposit which were completed during the
2020 summer drilling program. They will be reported once they are received, validated and compiled.
G. Bodnar Jr., President ofthe Company, commented: "We are very pleased to work with our exceptional
partner IAMGOLD. This payment reflects the satisfaction of our partner in the results obtained to date from
infill and evaluation drilling programs . We are looking forward to resume drilling activities early in the
coming year."
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, benefit from established underground infrastructure and
have been the subject of technical reports that include resource estimates that were previously filed in
accordance with Regulation 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 mineral resource being delineated. The exploration targets are
consistent with similar deposits in the area, deposit models or derived from initial drilling results.
YORBEAU RESOURCES INC.
110 Place Crémazie O, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
IAMGOLD signed a definitive option agreement in December 2018, whereby IAMGOLD has the option
to acquire a 100% interest in the Project by making scheduled cash payments total ling C$4 million and
completing exploration expenditures totalling C$9 million over a four-year period. Exploration programs
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 returns 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 infrastr ucture and have been the subject of technical reports that include
resource estimates and that were filed in accordance with Regulation s 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 favourable 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:
G. Bodnar Jr. Sylvain Lépine, M.Sc, P. Geo
President, Chief Financial Officer Vice-President Exploration,
Yorbeau Resources Inc. Yorbeau Resources Inc.
[email protected] [email protected]
Tel: 514-384-2202 Tel: 819-277-0577
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.