Yorbeau Resources Inc. Announces the Sale of Its Royalty ON the Ellison Property
PRESS RELEASE
FOR IMMEDIATE RELEASE
YORBEAU RESOURCES INC. ANNOUNCES THE SALE OF
ITS ROYALTY ON THE ELLISON PROPERTY
Montreal, May 31, 2017 – Yorbeau Resources Inc. (TSX: YRB.A) ( "Yorbeau" or the " Company")
announced today that it has entered into an agreement to sell to Agnico Eagle Mines Limited (" Agnico")
its net smelter royalty over the Ellison Property in the Abitibi region which the Company had received as
part of its sale of the Ellison Property to Agnico in 2002.
The purchase price for the net smelter royalty is $2.25 million and was paid in cash by Agnico upon
execution of the agreement. In addition to the sale of the net smelter royalty , the remaining instalment of
the 2002 sale in the amount of $500,000 , which was payable only upon commencement of commercial
production, would no longer be payable.
Yorbeau plans to use the proceeds from the sale for working capital purposes.
About Yorbeau Resources Inc.
The Company 's 100% controlled Rouyn Property co ntains fo ur known gold deposits in the 6 -km-long
Augmitto-Astoria corridor situated on the western half of the property. Two of the four deposits, Astoria
and Augmitto , have substantial underground infrastructure and have been the subject of NI 43 -101
technical reports that include resource estimates. The Company has signed an Option Agreement with an
affiliate of Kinross Gold Corporation to pursue exploration on the Rouyn Property (see press release
dated October 25, 2016). In 2015, the Company expanded its exploration property portfolio by acquiring
strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also
feature infrastructure favourable for mining development. The newly acquired base metal properties
include Scott Lake which hosts important mineral resources (see press release dated March 30, 2017).
More information on the Comp any may be found on the Company' s 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 Financial Officer
Yorbeau Resources Inc. Yorbeau Resources Inc.
[email protected] [email protected]
Tel: 819-279-1336 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, without
limitation, regarding 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.