Yorbeau Announces Resumption of Drilling Program with Iamgold at the Rouyn Project.
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
PRESS RELEASE
FOR IMMEDIATE RELEASE
YORBEAU ANNOUNCES RESUMPTION OF DRILLING PROGRAM WITH
IAMGOLD AT THE ROUYN PROJECT.
Montreal, July 2, 2020 – Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") is
pleased to announce that diamond drilling has resumed at its Rouyn property with partner
IAMGOLD Corporation ("IAMGOLD"). The Company signed a definitive agreement in December
2018, whereby IAMGOLD has the option to acquire a 100% interest in Yorbeau's Rouyn property
in Quebec, Canada.
As operator, IAMGOLD in 2020 has already completed a program in the Lac Gamble zone
consisting of 10,360 metres of drilling in 32 diamond drill holes. Results were previously reported
for 20 diamond drill holes (see news releases dated May 13, 2020). Results are pending from the
remaining 12 drill holes and will be reported once they are received, validated and compiled.
The 2020 ex ploration program on Astoria is designed to evaluate a highly prospective area,
located directly underneath underground infrastructure. This sector was highlighted in 2017 by
holes AS-17-678 and AS-17-678W that return 5.4 g/t of gold over 30.1 metres and 19.3 g/t of gold
over 4.1 metres respectively (see news releases dated September 19 , 2017). Approximately
5,000 metres of diamond drilling is planned to test this priority area, as well as certain other
satellite targets.
In collaboration with its partner IAMGOLD, Yorbeau has implemented rigorous safety protocols
in order to prevent the spread of COVID- 19 which are in line with recommendations from the
National institute of public health of Quebec (INSPQ) and the Commission des normes, de
l'équité, de la santé et de la sécurité du travail (CNESST).
Work at Yorbeau is carried out under the supervision of Sylvain Lépine, M.Sc, P. Geo. He is a
qualified person (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101")) and has reviewed and approved the content of this release.
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 NI 43-101.
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
The Lac Gamble zone is located between the Augmitto 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 totaling C$4
million and completing exploration expenditures totaling 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 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 estimates and that were filed in
accordance with NI 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 posi tive 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.
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
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.