news-releases Archives - Yorbeau Resources

Yorbeau Resources Inc. Begins a Deep Drilling Program on the Scott Lake Property, Chibougamau, Quebec

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MONTREAL, Aug. 23, 2022 - Yorbeau Resources Inc. (TSX: YRB), ("Yorbeau" or the "Company") is pleased to announce the commencement of a drilling program of more than 4,200 meters on its Scott Lake property, 100% owned by the Company in Chibougamau, Quebec.

A drill contract has been signed with Miikan Drilling Inc. Miikan is a joint venture between Chibougamau Drilling Ltd., the Oujé-Bougoumou First Nations community, and the Mistissini First Nations community, both located in the Eeyou-Istchee territories.

This program aims to increase the known reserves of 17.85 million tons of copper, zinc, gold and silver mineralization (RPA 2017, NI 43-101) under the "GAP" lens to a depth of more than 1,100 meters and to verify an electromagnetic conductor west of the Gwillim fault where very little work has been done to date (Figure 1).

The lenses of the Scott Lake deposit are aligned more or less in an east-west direction and are truncated by the Gwillim fault. The conductor west of the fault could, if it contains metals, open a new exploration area on the west side of the property.

Drilling east of the Gwillim Fault will involve testing the GAP lens to a depth of more than 1,000 meters vertically, approximately 200 and 300 meters below the deepest known mineralized intersection of the GAP lens.

The drill program that Yorbeau is undertaking on its Scott Lake property in the Chibougamau region is designed to increase the value of the project and evaluate alternatives leading to the development of this base metals project by Yorbeau or a potential partner.

In 2015, Yorbeau expanded its portfolio of properties in Quebec by acquiring strategic base metals properties in regions with high potential in the Abitibi belt which offer favorable infrastructure to mine development.

Acquired base metal properties include the Scott Lake Project comprising several mineralized zones that have volcanogenic massive sulphides (« VMS » mineralization characteristics). The VMS-style mineralization at the Scott Project includes several distinct lenses of stratiform massive sulphide located along or near rhyolite-andesite/basalt contacts. In addition to sulphides, distinct areas of vein-like and disseminated sulphides of SMV (stingers) style, which can either connect to massive sulphides or not, have been intersected over a distance of at least 2 kilometers in an east-west direction. According to a Preliminary Economic Assessment ("PEA") conducted in late 2017 by Roscoe Postle Associates ("RPA"), the project represents an opportunity to develop a mine located near the mining towns of Chibougamau and Chapais offering the housing benefits as well as the availability of labor, equipment and materials needed for the project.

About Yorbeau Resources

The 100% owned Rouyn property contains four known gold deposits in the six-kilometre-long Augmitto-Astoria corridor located in the western part of the property. The Company signed a definitive agreement in December 2018 that gives IAMGOLD the option to acquire a 100% interest in the Rouyn property, and a major drilling program is underway on the property. Two of the four deposits, Astoria and Augmitto, have substantial underground infrastructure and have been the subject of technical reports that include resource estimates and have been filed in accordance with NI 43-101.

Additional information about the Company is available on its website, https://www.yorbeauresources.com.

For further information, please contact:

G. Bodnar Jr.
President, Chief Financial Officer
Ressources Yorbeau Inc.
Tel: 514-384-2202
gbodnar@yorbeauresources.com

Laurent Hallé P. Geo
Consulting geologist
Yorbeau Resources Inc.
Tel: 819-764-6796
lhalle@yorbeauresources.com

Toll free in North America: 1-855-384-2202

Forward-looking statements: Except for the statement of historical fact, all statements in this news release, including without limitation, regarding the drilling program, as well as all 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.

Scott Lake

Yorbeau Resources Inc. Announces Election of Directors

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MONTREAL, June 14, 2022 - Yorbeau Resources Inc. (TSX: YRB) (“Yorbeau” or the “Company”) announces that the nominees listed in the Company’s management proxy circular dated May 13, 2022 were elected as directors of Yorbeau. The detailed results of the vote for the election of directors held at the annual general meeting of shareholders on June 14, 2022 in Montreal are set out below.

Nominee Votes
For
%
For
Votes
Withheld
%
Withheld
G. Bodnar Jr. 158,124,484 93.82 % 10,415,007 6.18 %
John Jacobsen 168,528,841 99.99 % 10,650 0.01 %
Henri Gélinas 158,124,484 93.82 % 10,415,007 6.18 %
Terry Kocisko 158,126,284 93.82 % 10,413,207 6.18 %
Marcel Lecourt 168,501,391 99.98 % 38,100 0.02 %
Jérôme Gendron 168,525,591 99.99 % 13,900 0.01 %
Dany Laflamme 168,525,841 99.99 % 13,650 0.01 %

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 Regulation 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 and Ontario that feature an 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.
gbodnar@yorbeauresources.com
Tel: 514-384-2202

Toll free in North America: 1-855-384-2202

Yorbeau Reports Assay Results from the Cinderella and Augmitto Areas on the Rouyn Project, Québec

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MONTREAL, May 31, 2022 - Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") is pleased to report that its partner IAMGOLD Corporation (‘’IAMGOLD’’) has received all the assay results from its 2021 exploration diamond drilling program completed on the Cinderella and Augmitto areas at the Rouyn Project. IAMGOLD holds a purchase option with Yorbeau for the Rouyn Project which is located 4 km south of Rouyn-Noranda, Québec, and approximately 45 kilometers southwest of IAMGOLD’s Westwood operation.

The Company is reporting assay results from twenty-eight (28) diamond drill holes from which three (3) were abandoned due to excessive deviation. This part of the 2021 drilling program has totaled 10,418 metres. This program tested a segment of the Cadillac Fault located approximately 1 to 3 kilometres west of the Lac Gamble zone.

The assay results reported herein are provided in Table 1, and include the following highlights that are also illustrated on a series of longitudinal sections attached to this news release:

Cinderella East sector:

  • Drill hole CI-21-786: 2.6 metres grading 13.54 g/t Au in the Main zone
  • Drill hole CI-21-788: 4.0 metres grading 5.21g/t Au in the Footwall Contact zone

Cinderella Central sector:

  • Drill hole CI-21-794: 5.2 metres grading 84.0 g/t Au in the Main zone
    • includes: 2.0 metres grading 213 g/t Au
  • Drill hole CI-21-796: 4.2 metres grading 24.7 g/t Au in the main zone
    • includes: 1.0 metres grading 102 g/t Au
  • Drill hole 11-CI-561W: 10.4 metres grading 4.15 g/t Au in the main zone 
    • includes: 3.1 metres grading 12.14 g/t Au

Augmitto sector:

  • Drill hole AUG-21-800: 1.2 metres grading 36.3 g/t Au in the Footwall Contact zone
  • Drill hole AUG-21-801A: 6.9 metres grading 3.10 g/t Au in the Upper zone
  • Drill hole 11-AUG-544W: 1.0 metre grading 26.6 g/t Au in the Main zone

The diamond drilling program had for main objective to test further areas where previous drilling identified zones of mineralization and to evaluate its continuity with potential to outline a resource. All drill holes successfully intersected the targeted sheared Cadillac-Piché corridor, which hosts several mineralized structures emplaced at different levels in the stratigraphy.

The Upper and Main zones are associated with alteration varying from several metres to greater than ten metre in width, hosted in the ultramafic rocks of the Piché Group, exhibiting variable carbonatization, fuchsite, silicification, and crosscut by a network of white quartz and brown tourmaline stockwork veins and breccias. Gold mineralization occurs as small specks of visible free gold associated with minor sulphides in quartz-tourmaline veinlets.

At the south contact of the Piché Group with the sedimentary sequence, another mineralization style (the Footwall contact zone) is frequently intersected and is characterized by grey quartz veinlets containing rare visible gold and up to 10% disseminated to narrow massive bands of Arsenopyrite adjacent to the veins. Occasionally similar mineralization is also observed further away from the contact and exclusively hosted in the sediments. This zone is referred to as the Footwall zone.

Results in the Cinderella Central sector seems to demonstrate a certain continuity of the High-Grade mineralization.

Next Steps

This drilling program has been conducted in the second half of 2021 and long delays to receive the assay results were experienced. These results are now integrated with the existing geological, geochemical and structural information to support the development and refinement of preliminary deposit models to support a future potential maiden resource estimate targeted for the end of 2022.

An additional exploration drilling phase was also recently completed and tested the extensions to the east and to the west of the Lac Gamble zone. A total of 6,456 metres were drilled in eleven (11) holes including two (2) holes abandoned for technical problems. These assay results will be reported and integrated to the current database when received, validated and compiled.

Technical Information and Quality Control Notes

The drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).

Mr. Laurent Hallé, P.Geo, Consulting geologist and qualified person for the purposes of NI 43-101 with respect to the technical information being reported on has read and approved this press release.

The design of the drilling program and interpretation of results is under the control of IAMGOLD’s and Yorbeau’s geological staff, including QPs employing strict protocols consistent with NI 43-101 and industry best practices. The sampling of, and assay data from, the drill core is monitored through the implementation of a quality assurance - quality control (QA-QC) program. Drill core (NQ size) is logged and samples are selected by geologists and then sawn in half with a diamond saw at the project site. Half of the core is retained at the site for reference purposes. Sample intervals may vary from 0.5 to 1.5 metres in length depending on the geological observations.

Half-core samples are packaged and transported in sealed bags to either AGAT laboratories (“AGAT”) in Val d’Or, Québec, and Mississauga, Ontario, or to ALS Minerals Laboratory (“ALS”) located in Val-d’Or, Québec. A formal chain-of-custody procedure was adopted for security of samples until their delivery at the laboratory. Samples are coarse crushed to a -10 mesh and then a 1,000 grams split is pulverized to 95% passing -150 mesh. AGAT prepare analytical pulps at their facilities located in Val-d’Or and processed the pulps at their Mississauga laboratory which is ISO / IEC 17025:2005 certified by the Standards Council of Canada. ALS processes analytical pulps directly at their facilities located in Val-d’Or which is ISO / IEC 17025 certified by the Standards Council of Canada. Samples are analyzed using a standard fire assay with a 50 grams charge with an Atomic Absorption (AA) finish. For samples that return assay values over 3.0 grams (for AGAT) or 5.0 grams per tonne (for ALS), another pulp is taken and fire assayed with a gravimetric finish. Core samples showing visible gold or samples which have returned values greater than 10.0 grams per tonne are processed with a protocol involving fine grinding of the entire sample, followed by metallic screen analysis of the entire pulverized material. Insertion of duplicate, blanks and certified reference standards in the sample sequence is done in all drill holes for quality control.

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 NI 43-101.

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 holds a purchase option with Yorbeau for the Rouyn Project. Under the terms of the purchase option agreement, IAMGOLD can acquire a 100% interest in the project by completing remaining scheduled cash payments totaling C$0.75 million and remaining exploration totaling approximately C$1.2 million by December 2022 (as of March 31, 2022). By the end of the expenditure period, IAMGOLD must complete a resource estimate in accordance with NI 43-101, after which IAMGOLD, at its election, can purchase a 100% interest in the project, subject to a 2% net smelter return, by paying Yorbeau the lesser of C$15 per resource ounce or C$30 million.

About Yorbeau Resources Inc.

The Rouyn Property, wholly-owned by the Company, is subject to a definitive agreement signed in December 2018, whereby IAMGOLD has the option to acquire a 100% interest in the Rouyn property. 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 in Chibougamau, 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
Ressources Yorbeau Inc.
Tel: 514-384-2202
gbodnar@yorbeauresources.com

Laurent Hallé P. Geo
Consulting geologist
Yorbeau Resources Inc.
Tel: 819-764-6796
lhalle@yorbeauresources.com

Toll free in North America: 1-855-384-2202

Yorbeau Announces Receipt of Scheduled Option Payment of $750,000 From IAMGOLD in Order to Maintain Its Option on the Rouyn Property

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MONTREAL, Dec. 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 resuming 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 accordance with Regulation 43-101.

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 totalling 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 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 infrastructure 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.
gbodnar@yorbeauresources.com

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.

Yorbeau closes non-brokered private placement

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Montreal, December 9, 2021 – Yorbeau Resources Inc. (TSX: YRB) (the "Company" or "Yorbeau") is pleased to announce that it has completed a fully-subscribed private placement (the "Private Placement") by issuing 26,666,680 Class A common shares composed of (i) 13,333,340 "flow-through" Class A common shares at a price of $0.05 per share and (ii) 13,333,340 non-flow-through Class A common shares at a price of $0.04 per share for an aggregate gross proceeds of $1,200,000.60.

The Company will use the proceeds raised from the issue of the flow-through Class A common shares to incur Canadian exploration expenses on its properties and the proceeds raised from the issue of the non-flow-through Class A common shares for general corporate purposes.

Five insiders subscribed for a total of 16,772,220 Class A common shares having an aggregate subscription price of $754,749.90. As insiders of the Company participated in the Private Placement, it is deemed to be a "related party transaction" as defined under Multilateral Instrument 61-101—Protection of Minority Security Holders in Special Transactions ("MI 61101"). The Private Placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 (pursuant to subsections 5.5(a) and 5.7(a)) as neither the fair market value of the Class A common shares distributed to, nor the consideration received from, interested parties exceeded 25% of the Company's market capitalization. The Company did not file a material change report at least 21 days prior to the closing of the Private Placement as participation of the insiders had not been confirmed at that time.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

The Company paid finder fees in the aggregate amount of $19,830 with respect to a portion of the Private Placement.

Update on Exploration Team

The Company is also pleased to announce the return of Mr. Laurent Hallé to the Company as consulting geologist, member of the Ordre des géologues du Québec. Mr. Hallé obtained a BSc in geology from the University of Québec in 1982 and, through his long career in the field, brings a wealth of experience to the Company in exploration planning, property acquisition, planning and supervision of diamond drill programs, and exploration crew management. Mr. Hallé will be assuming the functions of Mr. Sylvain Lépine, Vice President, Exploration of the Company, who is departing Yorbeau to pursue other opportunities. Yorbeau would like to thank Mr. Lépine for his contribution and wishes him all the best in his future endeavors.

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 Regulation 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 in Chibougamau, 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 further information, please contact:

G. Bodnar Jr.
President, Chief Financial Officer
Yorbeau Resources Inc.
gbodnar@yorbeauresources.com
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, statements regarding the use of proceeds of the Private Placement 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.

Yorbeau reports assay results from the Lac Gamble drilling program on the Rouyn gold project, Québec; drilling underway on Augmitto – Cinderella areas

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Montreal, Quebec, September 16, 2021 – Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") is pleased to report that its partner IAMGOLD Corporation (‘’IAMGOLD’’) released today assay results from its its 2021 exploration diamond drilling program completed on the Lac Gamble zone at the Rouyn Gold project (“Rouyn Project”). The project is located 4 km south of Rouyn-Noranda, Québec, and approximately 45 kilometers southwest of IAMGOLD’s Westwood operation.

The Company is reporting assay results from seven (7) diamond drill holes, totaling 1,826 metres completed as part of the winter 2021 drilling program. Drilling activities are also currently progressing on the Augmitto and Cinderella areas, located approximately 1 to 3 kilometres west of the Lac Gamble zone, and results will be reported when received, validated and compiled.

The assay results reported herein are provided in Table 1, below, and include the following highlights (a longitudinal section illustrating the drilling program on the Lac Gamble zone is attached to this news release):

Lac Gamble – Main Zone:

  • Drill hole GA-21-779:

7.7 metres grading 2.5 g/t Au
Includes: 4.7 metres grading 3.5 g/t Au

  • Drill hole GA-21-780:

5.0 metres grading 5.5 g/t Au

  • Drill hole GA-21-782:

3.2 metres grading 16.1 g/t Au
Includes: 1.2 metres grading 40.6 g/t Au

In a separate press release on the current results, Craig MacDougall, Executive Vice President, Growth, IAMGOLD, stated: “Our drilling program at Lac Gamble earlier this year specifically targeted some selected areas for possible extensions, as well as to complete some initial geotechnical drill holes to assess rock quality in the context of a potential underground mining scenario. The results continue to strengthen our understanding of the deposit geology and geotechnical rock quality appears in line with our expectations from the initial assessment. Despite the recent challenges faced by a shortage of available drilling rigs in the region, we continue to make solid progress in our project evaluation.

The diamond drilling program on the Lac Gamble zone had two main objectives: 1) complete an initial geotechnical drilling campaign to collect preliminary data to assess rock quality of the host rock units with respect to an underground mining method; and, 2) test for potential extensions down plunge along the western boundary of the zone.

The geotechnical drill program consisted of four (4) holes for 720.5 metres and the data obtained appears to be in line with the anticipated geotechnical conditions to support a potential underground mining development scenario.

The expansion drilling program targeted potential down-plunge extensions to the west for which three (3) diamond drill holes totaling 1,105 metres were completed. Unfortunately, due to the late start of the drilling program caused by a regional lack of drill rig availability, a planned larger program could not be completed during the optimal winter season.

All drill holes successfully intersected the targeted sheared Cadillac-Piché corridor, which hosts the mineralized Lac Gamble zone. The zone is associated with alteration varying from several metres to greater than 10 metres in width, exhibiting variable carbonatization, fuchsite, silicification, crosscut by a network of white quartz and brown tourmaline stockwork veins and breccias. Gold mineralization occurs as small specks of visible free gold associated with minor sulphides in quartz-tourmaline veinlets. Hole GA-21-782 has demonstrated the zone could extend further in its western extensions at depth.

Next Steps

The ongoing global COVID-19 pandemic continues to impact the local availability of exploration services. However, exploration drilling has resumed at the Rouyn Project in June and a planned 9,000 metre diamond drilling program is in progress to evaluate the resource potential of other selected targets, including the Cinderella and Augmitto areas located further west of the Lac Gamble zone and if timing permits to the east at the Astoria east zone.

The assay results from the drilling programs will be integrated with the existing geological, geochemical and structural information to support the development and refinement of preliminary deposit models on the property to support a future potential maiden resource estimate.

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 NI 43-101.

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 holds a purchase option with Yorbeau for the Rouyn Project. Under the terms of the purchase option agreement, IAMGOLD can acquire a 100% interest in the project by completing remaining scheduled cash payments totaling C$1.5 million and remaining exploration totaling approximately C$3.7 million by December 2022 (as of June 30, 2021). By the end of the expenditure period, the Company must complete a resource estimate in accordance with NI 43-101, after which the Company, at its election, can purchase a 100% interest in the project, subject to a 2% net smelter return, by paying Yorbeau the lesser of C$15 per resource ounce or C$30 million.

Figure 1 – Rouyn Gold – Lac Gamble zone longitudinal section and highlighted 2021 assay results

Notes:

  • True widths of intersections are estimated at at 64 to 93% of the core interval approximately.
  • Drill hole intercepts are calculated with a lower cut of 1.0 g/t Au and may contain lower grade interval of up to 3 metres in length. They are generally reported with a minimum g*m (or Metal factor) of 2.
  • Assays are reported uncut but high grade sub-intervals are highlighted.

Technical Information and Quality Control Notes

The drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. Work at Yorbeau is carried out under the supervision of Sylvain Lépine, M.Sc, P. Geo. He is a qualified person (as defined by NI 43-101) and has reviewed and approved the content of this release.

The design of the drilling program and interpretation of results is under the control of IAMGOLD’s and Yorbeau’s geological staff, including QPs employing strict protocols consistent with NI 43-101 and industry best practices. The sampling of, and assay data from, the drill core is monitored through the implementation of a quality assurance - quality control (QA-QC) program. Drill core (NQ size) is logged and samples are selected by geologists and then sawn in half with a diamond saw at the project site. Half of the core is retained at the site for reference purposes. Sample intervals may vary from 0.5 to 1.5 metres in length depending on the geological observations.

Half-core samples are packaged and transported in sealed bags to AGAT laboratories in Val d’Or, Québec, and Mississauga, Ontario. Samples are coarse crushed to a -10 mesh and then a 1,000 gram split is pulverized to 95% passing -150 mesh. AGAT prepare analytical pulps at their facilities located in Val-d’Or and processed the pulps at their Mississauga laboratory which is ISO / IEC 17025:2005 certified by the Standards Council of Canada. Samples are analyzed using a standard fire assay with a 50 gram charge with an Atomic Absorption (AA) finish. For samples that return assay values over 3.0 grams per tonne, another pulp is taken and fire assayed with a gravimetric finish. Core samples showing visible gold or samples which have returned values greater than 10.0 grams per tonne are processed with a protocol involving fine grinding of the entire sample, followed by metallic screen analysis of the entire pulverized material. Insertion of duplicate, blanks and certified reference standards in the sample sequence is done in all drill holes for quality control.

About Yorbeau Resources Inc.

The Rouyn Property, wholly-owned by the Company, contains four known gold deposits in the 6kmlong 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 Regulation 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 in Chibougamau, 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.
gbodnar@yorbeauresources.com
Tel: 514-384-2202

Sylvain Lépine, Géo, M.Sc.
Vice-President Exploration,
Yorbeau Resources Inc.
slepine@yorbeauresources.com
Tel: 819-277-0577
 

Toll free in North America: 1-855-384-2202

Forward-looking statements: Except for the 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 forwardlooking 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.

Yorbeau Resources Inc. Announces Election of Directors

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MONTREAL, June 29, 2021 - Yorbeau Resources Inc. (TSX: YRB) (“Yorbeau” or the “Company”) announces that the nominees listed in the Company’s management proxy circular dated June 2, 2021 were elected as directors of Yorbeau. The detailed results of the vote for the election of directors held at the annual general meeting of shareholders on June 29, 2021 in Montreal are set out below.

NomineeVotes For% ForVotes Withheld% Withheld
Georges Bodnar Jr.92,767,48499.79%195,7500.21%
John Jacobsen92,870,43099.90%92,8040.10%
Henri Gélinas82,687,72788.95%10,257,50711.05%
Terry Kocisko82,468,57388.71%10,494,66111.29%
Marcel Lecourt92,728,33099.75%234,9040.25%
Jérôme Gendron92,874,03499.90%89,2000.10%
Dany Laflamme92,874,03499.90%89,2000.10%

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 Regulation 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 and Ontario that feature an 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.
gbodnar@yorbeauresources.com
Tel: 514-384-2202

Sylvain Lépine, M.Sc, P. Geo
Vice-President, Exploration
Yorbeau Resources Inc.
slepine@yorbeauresources.com
Tel: 819-277-0577

Toll free in North America: 1-855-384-2202

Yorbeau and IAMGOLD Resume Drilling on Rouyn Property With Primary Focus on Cinderella and Augmitto Deposits, Quebec

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MONTREAL, June 17, 2021 – Yorbeau Resources Inc. (TSX: YRB) (“Yorbeau” or the “Company“) is pleased to announce that diamond drilling has commenced at its Rouyn property with its 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. The Rouyn property is located 4 km south of Rouyn-Noranda, Québec, and approximately 45 kilometers southwest of IAMGOLD’s Westwood operation.

One drill rig is in operation on the property and approximately 10,000 metres are planned for completion by the end of the year. The objective of the current drilling program is to test continuity of known mineralized zones to validate the potential to delineate mineral resources.

The drilling program will focus primarily on:

  • Infill and exploration drilling at Cinderella to estimate the potential of three gold envelopes discovered by Yorbeau between 2008 and 2012. In this area, holes 10-CI-535 and 08-CI-464 respectively returned 3.3 g/t over 33.0 metres and 8.12 g/t over 7.0 metres (see Yorbeau’s news releases dated May 26, 2010 and September 25, 2008).
  • Infill drilling at Augmitto to test the continuity of known mineralization zone where holes 06-S-413 and 06-S-412A returned 26.02 g/t Au over 8.40 meters and 4.53 g/t Au over 12.00 meters respectively (see Yorbeau’s news releases dated November 08, 2006).
  • Possibly exploration at Augmitto outside the area containing mineral resources (please see RPA’s Regulation 43-101 report on Yorbeau’s web site) to test the potential of the gold system at depth (above 700 metres vertical depth).

As operator, IAMGOLD in 2021 has already completed a drilling program in the Lac Gamble zone consisting of seven drill holes for a total of 1,826 metres. Four of those holes were designed in the purpose to assess host rock quality and three holes were designed to test the west extension of the mineralized zone. Results are pending and will be reported once they are received, validated and compiled.

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 Regulation 43-101 respecting Standards of Disclosure for Mineral Projects (Regulation 43–101“)) and has reviewed and approved the content of this release.

About the Rouyn Project

The Rouyn 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 Augmito 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 there is insufficient exploration work completed to define a mineral resource. The property may require significant future exploration and evaluation studies to advance to the completion of a mineral resource estimate, and there can be no certainty that the evaluation of the exploration target will result in a mineral resource being delineated. The exploration target described above is consistent with similar deposits in the area, deposit models or derived from initial drilling results. The ongoing multi-phased exploration program is designed to support the completion of a future mineral resource estimate.

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 years period. By the end of the expenditure period, the Company is required to complete a Regulation 43-101 compliant resource estimate, after which the Company, 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 currently 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 infrastructure and have been the subject of technical reports that include resource estimates and that were filed in accordance with Regulation 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 in Chibougamau, 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:

Sylvain Lépine, M.Sc, P. Geo
General Manager Exploration
Yorbeau Resources Inc.
slepine@yorbeauresources.com
Tel: 819-277-0577

G. Bodnar Jr., President
Chief Financial Officer, Yorbeau Resources Inc.
gbodnar@yorbeauresources.com
Tel: 514-384-2202

Toll free in North America: 1-855-384-2202

Forward-looking statements: Except for the statement of historical fact, all statements in this news release, including without limitation, regarding the prospects of the Lemoine 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.

Yorbeau Reports Assay Results From the Astoria Area Drilling Program on the Rouyn Project, Quebec; Drilling Resumes on Lac Gamble Area

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MONTREAL, March 03, 2021 - Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") is pleased to report that its partner IAMGOLD Corporation ("IAMGOLD") released today assay results from its 2020 exploration diamond drilling program completed on the Astoria Target Area at the Rouyn Project. The Rouyn property is located 4 km south of Rouyn-Noranda, Québec, and approximately 45 kilometers southwest of IAMGOLD’s Westwood operation.

IAMGOLD is reporting assay results from eleven (11) diamond drill holes, totaling 5,950 metres drilled on the Astoria area, located approximately one kilometre east of the Lac Gamble Zone. Two (2) drill holes were abandoned or did not reach the target zone due to excessive deviation.

The assay results reported herein are provided in Table 1, below, and include the following highlights (a longitudinal section illustrating the drilling program on the Astoria Area is attached to this news release):

Astoria Area – Upper Piché Zone:

  • Drill hole AS-20-773A: 2.0 metres grading 13.2 g/t Au
  • Drill hole AS-20-775: 2.8 metres grading 7.5 g/t Au
           includes:       0.8 metres grading 15.0 g/t Au
  • Drill hole AS-20-775W: 7.6 metres grading 9.7 g/t Au
           includes:       2.0 metres grading 29.3 g/t Au

Astoria Area – Lower Piché Zone:

  • Drill hole AS-17-669W: 2.0 metres grading 7.6 g/t Au
  • Drill hole AS-20-772: 11.1 metres grading 3.7 g/t Au
           includes:       1.0 metres grading 23.5 g/t Au

Astoria Area – Main Zone:

  • Drill hole AS-20-772: 6.1 metres grading 3.4 g/t Au
           includes:       3.0 metres grading 6.2 g/t Au
  • Drill hole AS-20-776: 14.0 metres grading 3.4 g/t Au
           includes:       7.0 metres grading 5.6 g/t Au

In a separate press release on the current results, Craig MacDougall, Executive Vice President, Growth for IAMGOLD, stated: "The completion of this program has provided important information to assess the potential of the historic Astoria deposit. The program was conducted in accordance with well-established Company-wide health and safety protocols to manage the impacts of the COVID-19 pandemic. These results will be used to update our geological models and help guide our exploration program to continue to assess the resource potential for this area. Drilling has now resumed at Lac Gamble and will include the completion of selected infill holes, as well as geotechnical drill holes to assess rock quality of the host rock units."

The objective of the Astoria area diamond drilling program was to test selected priority targets proximal to the known mineralization to evaluate for the presence and continuity of mineralized extensions with potential to outline a resource.

The program successfully intersected the targeted sheared Cadillac-Piché corridor, which hosts several mineralized zones. At Astoria, mineralized zones are associated with alteration varying from several metres to greater than ten metres in width, hosted in the ultramafic rocks of the Piché Group, exhibiting variable carbonatization, fuchsite, silicification, crosscut by a network of white quartz and brown tourmaline stockwork veins and breccias, which define the Upper and Lower Piché zones. Gold mineralization occurs as small specks of visible free gold associated with minor sulphides in quartz-tourmaline veinlets.

A mineralized zone, referred to as the Main zone, is also observed at the contact with the sedimentary sequence bordering the south contact of the Piché Group and is characterized by grey quartz veinlets containing rare visible gold and up to 10% disseminated to narrow massive bands of Arsenopyrite adjacent to the veins. Occasionally similar mineralization is also observed exclusively hosted in sediments and is referred to as the Footwall zone.

Next Steps

The ongoing global COVID-19 pandemic and local availability of drill rigs continues to impact the pace at which planned exploration activities are advanced. However, exploration drilling has resumed at the Rouyn Project and a 14,000 metre diamond drilling program is planned in 2021 to further delineate the Lac Gamble and Astoria zones. The program will also include the evaluation of the resource potential of other selected targets, including in the Cinderella and Augmitto areas located further west of the Lac Gamble zone. Currently, a geotechnical drilling program has commenced to assess rock quality of the host rock units at Lac Gamble.

The assay results from the drilling programs will be integrated with the existing geological, geochemical and structural information to support the development and refinement of preliminary deposit models on the property to support a future potential maiden resource estimate.

About the Rouyn Project

The Rouyn 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 in the east portion of the 6 km segment and Augmitto in the west portion of the segment, 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 NI 43-101.

The Lac Gamble zone is located between the Augmito 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. By the end of the expenditure period, the Company is required to complete a NI 43-101 compliant resource estimate, after which the Company, 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 currently in the third year of the option agreement.

Figure 1: Rouyn Gold – Lac Gamble zone longitudinal section and highlighted 2020 assay results:

Table 1: Rouyn Project Drilling Results – 2020 Astoria Drilling program:

Table 1 Notes:

1. True widths of intersections are estimated at at 55 to 80% of the core interval approximately.
2. Drill hole intercepts are calculated with a lower cut of 1.0 g/t Au and may contain lower grade interval of up to 3 metres in length. They are generally reported with a minimum g*m (or Metal factor) of 2.
3. Assays are reported uncut but high grade sub-intervals are highlighted.
4. Drill holes with the suffix W are wedge cuts from previously drilled master holes.

Technical Information and Quality Control Notes

The drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. Work at Yorbeau is carried out under the supervision of Sylvain Lépine, M.Sc, P. Geo. He is a qualified person (as defined by NI 43-101) and has reviewed and approved the content of this release.

The design of the drilling program and interpretation of results is under the control of IAMGOLD’s and Yorbeau’s geological staff, including qualified persons employing strict protocols consistent with NI 43-101 and industry best practices. The sampling of, and assay data from, the drill core is monitored through the implementation of a quality assurance - quality control (QA-QC) program. Drill core (NQ size) is logged and samples are selected by geologists and then sawn in half with a diamond saw at the project site. Half of the core is retained at the site for reference purposes. Sample intervals may vary from half a metre to one and a half metres in length depending on the geological observations.

Half-core samples are packaged and transported in sealed bags to AGAT laboratories in Val d’Or, Quebec, and Mississauga, Ontario. Samples are coarse crushed to a -10 mesh and then a 1,000 gram split is pulverized to 95% passing -150 mesh. AGAT prepare analytical pulps at their facilities located in Val-d’Or and processed the pulps at their Mississauga laboratory which is ISO / IEC 17025:2005 certified by the Standards Council of Canada. Samples are analyzed using a standard fire assay with a 50 gram charge with an Atomic Absorption (AA) finish. For samples that return assay values over 3.0 grams per tonne, another pulp is taken and fire assayed with a gravimetric finish. Core samples showing visible gold or samples which have returned values greater than 10.0 grams per tonne are processed with a protocol involving fine grinding of the entire sample, followed by metallic screen analysis of the entire pulverized material. Insertion of duplicate, blanks and certified reference standards in the sample sequence is done in all drill holes for quality control.

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 Regulation 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 in Chibougamau, 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:

Sylvain Lépine, M.Sc, P. Geo
General Manager Exploration
Yorbeau Resources Inc.
slepine@yorbeauresources.com
Tel: 819-277-0577

G. Bodnar Jr., President
Chief Financial Officer, Yorbeau Resources Inc.
gbodnar@yorbeauresources.com
Tel: 514-384-2202

Toll free in North America: 1-855-384-2202

Forward-looking statements: Except for the statement of historical fact, all statements in this news release, including without limitation, regarding the prospects of the Lemoine 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.

Yorbeau Announces the Completion of Hole LEM-66W3 and Explains Target #1 at the Lemoine Project in Chibougamau, Quebec

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MONTREAL, Feb. 03, 2021 - Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") announces completion of hole LEM-66W3 that was designed to test a strong borehole geophysical anomaly (target #1) detected in hole LEM-66 at its Lemoine project in the Chibougamau area of Quebec (see Yorbeau’s news releases dated January 20, 2021).

The Lemoine Mine is located 25 kilometres south of Chibougamau (Figure. 1) and produced 758,000 tons of high-grade massive sulphide ore from 1975 to 1983. With its 4.2% Cu, 9.6% Zn, 4.2 g/t Au and 83 g/t Ag, Lemoine is within the top 1% of all VMS worldwide (in terms of grade). This drilling program was a follow-up of the deepest hole drilled from underground in this sector, hole 12L-27 (drilled in 1980) which returned a high-grade massive sulphide intersection of 43 cm grading 4.3% Cu, 6.3% Zn and 1.1 g/t Au.

Hole LEM-66W3 intersected 0.6 metres of semi-massive pyrite and pyrrhotite with some traces of sphalerite and chalcopyrite along the Lemoine horizon. This quantity and texture of sulfides, especially pyrrhotite, explain the strong conductor previously modelled (target #1). The company has decided to suspend drilling activities for now in order to evaluate other alternative options.

Other promising targets remain untested on the property especially target #2 area (Figure 2) where the geophysical modelled plate is less conductive than target #1 (90 siemens Vs. 400 siemens). In the light of current results, data suggest that target #2 could be explained by a different type of mineralization. Moreover, hole L91-01 (drilled in 1991) located at the edge of this modelled plate seems to support this hypothesis by returning 3.3 % Zn over 0.3 metres.

Another area with a strong discovery potential is located in the west part of the property at relatively shallow depth. This area shows the largest hydrothermal alteration system observed at Lemoine that covers 4 kilometres by 600 metres (Figure 3). This system that was delineated using lithogeochimical data from outcrops and drilling, clearly cross-cut the Lemoine stratigraphy. Further works in this area should include borehole geophysical survey of historical holes, especially in LEM-64 drilled by Cogitore Resources in 2008.

Work is carried out by the Yorbeau personnel, under the supervision of Sylvain Lépine, M.Sc, P.Geo. He is a qualified person (as defined by National Instrument 43-101) and has prepared and approved the content of this release.

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 Regulation 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 in Chibougamau, 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:

Sylvain Lépine, M.Sc, P. Geo
General Manager Exploration
Yorbeau Resources Inc.
slepine@yorbeauresources.com
Tel: 819-277-0577

G. Bodnar Jr., President
Chief Financial Officer, Yorbeau Resources Inc.
gbodnar@yorbeauresources.com
Tel: 514-384-2202

Toll free in North America: 1-855-384-2202

Forward-looking statements: Except for the statement of historical fact, all statements in this news release, including without limitation, regarding the prospects of the Lemoine 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.