Yorbeau Announces Receipt of Scheduled Option Payment of $750,000 from Iamgold IN Order to Maintain Its Option ON the Rouyn Property
YORBEAU RESOURCES INC.
50 Place Crémazie, Suite 403, Montréal, QC, H2P 2T1
www.yorbeauresources.com
114373689
PRESS RELEASE
FOR IMMEDIATE RELEASE
YORBEAU ANNOUNCES RECEIPT OF SCHEDULED OPTION PAYMENT OF $750,000 FROM
IAMGOLD IN ORDER TO MAINTAIN ITS OPTION ON THE ROUYN PROPERTY
Montreal, December 15, 2021 – 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
$750,000 corresponding to the fourth 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 three years, IAMGOLD has met
and exceeded its expenditure obligation of C$6.5 million in exploration on the property. In 2022, IAMGOLD
plans to continue the evaluation of the resource potential on the project and will complete an additional
6,000 metres of diamond drilling on selected zones of mineralization to support a future Mineral Resource
Estimate. In 2022, IAMGOLD plans to continue the evaluation of the resource potential on the project and
will complete an additional 6,000 metres of diamond drilling on selected zones of mineralization to support
a future Mineral Resource Estimate.
G. Bodnar Jr., President of the Company, commented: “We are very pleased to continue to work with our
exceptional partner IAMGOLD. This fourth payment reflects the satisfaction of our partner in the results
obtained to date from infill and evaluation drilling programs. We are looking forward to resum ing drilling
activities 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 acc ordance
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.
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 total ling 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
YORBEAU RESOURCES INC.
50 Place Crémazie, Suite 403, Montréal, QC, H2P 2T1
www.yorbeauresources.com
114373689
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 third 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 Regulations 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.
President, Chief Financial Officer
Yorbeau Resources Inc.
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.