Yorbeau Announces Receiving $0.5 Million 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
F O R I M M E D I A T E R E L E A S E
YORBEAU ANNOUNCES RECEIVING $0.5 MILLION CASH PAYMENT FROM
IAMGOLD IN ORDER TO MAINTAIN ITS OPTION ON THE ROUYN PROPERTY.
Montreal, December 11, 2019 – 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 first of a series of interim cash payments to be made to Yorbeau during an Expenditure
Period of 48 months.
The terms of the definitive op tion agreement were announced in the Company's press release dated
December 17, 2018. Among other commitments, IAMGOLD must make i nterim cash payments in an
aggregate amount of C$3 million during the Expenditure Period, and incur minimum exploration
expenditures of C$2 million in each 12-month period of the Expe nditure Period. IAMGOLD has largely
met its obligation to incur a minimum of C$2 million of explora tion expenditures on the property in the
first year. Moreover, the exploration work done within the firs t year included drilling of 19,966 metres in
66 holes on the Lac Gamble and Astoria zones, while the agreement allowed in fact two years to drill 20,000
metres. The assay results for the latest Astoria drilling are s till pending and will be reported once they are
received, validated and compiled.
Gérald Riverin, Company president commented: "The receipt of this cash payment marks an important step
as it maintains the option agreement for a second year explorat ion program at the Rouyn property and
reflects the confidence of our partner IAMGOLD in the potential of the project. We are looking forward to
initiating the next drilling program in the coming weeks."
About the Rouyn Gold Project
The Rouyn Gold Property is located about 4 km south of Rouyn-No randa, 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-Lard er 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, Astori a and Augmitto, benefit from es tablished underground infrastructure and
have been the subject of technical reports that include resourc e estimates that were previously filed in
accordance with Regulation NI 43-101.
The Lac Gamble zone is located between the Augmito and the Asto ria 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 reso urce stage and there can be no certainty that
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
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.
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 infr astructure and have been the s ubject of technical reports that include
resource estimates and that were filed in accordance with Regul ation 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 favou rable 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 Pre liminary Economic Assessment was
recently completed.
For additional information on the Company, consult its website at www.yorbeauresources.com.
For further information, please contact:
Gérald Riverin, PhD, P. Geo G. Bodnar Jr.
President, Yorbeau Resources Inc. Vice-President, Chief Finan cial Officer
Yorbeau Resources Inc. Y o r b e a u R e s o u rces Inc.
[email protected] [email protected]
Tel: 819-279-1336 T e l : 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 discl aims any obligation to update such forward-looking
statements, other than as required by applicable securities laws.