news-release-2020 Archives - Page 2 of 2 - Yorbeau Resources

Yorbeau Announces Receipt of Scheduled Cash Payment From IAMGOLD in Order to Maintain its Option on the Rouyn Property

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MONTREALJune 11, 2020 – 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 second 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 year, IAMGOLD has met its expenditure obligation to incur a minimum of C$2 million exploration expenditures on the property. Moreover, IAMGOLD has already exceeded their minimum drilling commitment (completion of a minimum of 20,000 metres of diamond drilling within the first two-years) by drilling to date more than 30,000 metres on the Rouyn property.

G. Bodnar Jr., Company president commented: “We continue to be extremely pleased by our business relationship with IAMGOLD. This 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 on Astoria in the coming weeks.

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 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 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, 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.

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.

For further information:

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

Yorbeau Announces Further Positive Assay Results from the Drilling Programs on the Rouyn Project, Quebec, Including 27.8 g/t Au over 9.8 Metres

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MONTREALMay 13, 2020 - Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") is pleased to report that its partner IAMGOLD Corporation ("IAMGOLD") released today the assay results from diamond drilling programs completed on the Astoria area and on the Lac Gamble Zone at the Company's Rouyn Gold Project. The project is located 4 km south of Rouyn-Noranda, Quebec, and approximately 45 kilometers southwest of IAMGOLD's Westwood mine.

IAMGOLD is reporting assay results from eighteen diamond drill holes, totaling 6,585 metres drilled on the Astoria area, located approximately two kilometres east of the Lac Gamble Zone, and from twenty diamond drill holes completed on Lac Gamble Zone, totaling 6,298 metres. Two drill holes targeting the Lac Gamble Zone were abandoned due to excessive deviation and re-collared. Results are pending from an additional twelve diamond drill holes completed totaling 4,062 metres. These results will be reported once they are received, validated and compiled.

The assay results reported herein are provided in Tables 1 and 2 below and include the following highlights (two longitudinal sections illustrating the drilling program on the Lac Gamble and the Astoria area are attached to this news release):

Lac Gamble Zone - Main Zone:

  • Drill hole GA-19-709W2: 9.8 metres grading 10.4 g/t Au
    includes: 3.0 metres grading 22.8 g/t Au
  • Drill hole GA-20-747: 6.8 metres grading 5.9 g/t Au
    includes: 0.9 metres grading 32.7 g/t Au
  • Drill hole GA-20-748: 5.8 metres grading 4.7 g/t Au
    includes: 2.6 metres grading 7.7 g/t Au
  • Drill hole GA-20-750: 9.8 metres grading 27.8 g/t Au
    includes: 4.4 metres grading 58.4 g/t Au

Astoria Area – Upper Zone:

  • Drill hole AS-19-732: 5.0 metres grading 4.6 g/t Au
    includes: 1.0 metres grading 14.4 g/t Au
  • Drill hole AS-19-733: 4.0 metres grading 5.5 g/t Au
    includes: 1.0 metres grading 13.3 g/t Au
  • Drill hole AS-19-739: 3.5 metres grading 5.7 g/t Au

Astoria Area – Lower Piché Zone:

  • Drill hole AS-19-738: 2.2 metres grading 7.9 g/t Au
    includes: 1.2 metres grading 12.3 g/t Au
  • Drill hole AS-19-741: 9.0 metres grading 5.8 g/t Au
    includes: 1.0 metres grading 39.2 g/t Au

The objective of the diamond drilling program in the area of the historic Astoria deposit was to test selected exploration targets to evaluate continuity of mineralization for the potential to outline a resource.

The objective of the diamond drilling program on the Lac Gamble Zone was to continue a systematic infill drilling program at nominal 50 x 50 metre drill centres in the upperpart of the zone to support a future resource estimation. In addition, lateral extensions were also targeted to evaluate the potential to expand the zone.

Both drilling programs successfully intersected the targeted sheared Cadillac-Piché corridor which hosts the mineralized zones. The Lac Gamble and 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. Gold mineralization occurs as small specks of visible free gold associated with minor sulphides in quartz-tourmaline veinlets. In the Astoria area mineralized zones are also intersected at the contact with the sedimentary sequences bordering the Piché Group and contains grey quartz veinlets with up to 10% disseminated to narrow massive bands of Arsenopyrite adjacent to the veins.

"Results reports today are highly encouraging and we are very satisfied by the work accomplished in partnership with IAMGOLD on the project. At Gamble, delineation drilling continues to show continuity of mineralization with high-grade intercepts over significant width," commented Sylvain Lépine, General manager Explorationof Yorbeau. "We are looking forward to do additional exploration drilling, especially in Astoria sector where good potential to delineate additional resources has been identified."

In a separate press release on the current results, Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated: "We continue to be pleased with the positive results obtained from our infill and evaluation drilling programs, especially those from our priority target at Lac Gamble which we are working to advance to a formal resource estimate.  The Rouyn Gold project provides IAMGOLD with an opportunity to delineate satellite resources with the objective of supplementing production at our Westwood operation and utilizing our existing infrastructure and excess mill capacity. I want to especially acknowledge the efforts of the exploration team who had to contend with the sudden impacts of the COVID-19 crisis and were able to suspend drilling operations in an orderly way on very short notice. We look forward to resumption of our exploration activities, which will be done progressively in a safe manner following confirmation by the government of Quebec that exploration activities may resume."

Next Steps

In response to the global COVID-19 crisis, the Company with its partner IAMGOLD, immediately activated appropriate actions to ensure a coordinated response. All exploration drilling and field activities were temporarily suspended as directed by the government of Quebec and will resume subject to the guidelines and approval of the required government authorities and when judged safe to do so.

The assay results from the drilling programs are being compiled and integrated with the existing geological, geochemical and structural information to support the development and refinement of a preliminary deposit model.  This work will also be used to support the completion of a mineral resource estimation of the Lac Gamble zone currently in planning.

As described above, the planned 2020 Lac Gamble drilling program was suspended before completion. Timing for the resumption of the program will be assessed as conditions allow. The 2020 exploration program was designed to also evaluate other selected exploration targets in the area of the historic Astoria deposit and other identified satellite targets with up to a further 5,000 metres of diamond drilling planned. All pending assay results from drilling completed to date on Lac Gamble will be reported once they are received, validated and compiled.

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 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. 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.

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 process 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 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:

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 statement of historical fact, all statements in this news release, including without limitation, regarding the prospects of the Rouyn property, 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.

Notes:

  1. True widths of intersections are estimated at 60-83% of the core interval approximately.
  2. Drill hole intercepts are calculated with a lower cut of 1.00 g/t Au and may contain lower grade interval of up to 3 metres in length.
  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.

Notes:

  1. True widths of intersections are estimated at 66-90% of the core interval approximately.
  2. Drill hole intercepts are calculated with a lower cut of 1.00 g/t Au and may contain lower grade interval of up to 3 metres in length.
  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.

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

Figure 2: Rouyn Gold – Astoria area longitudinal section and highlighted 2019 assay results.

Yorbeau Announces Board and Senior Management Changes

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MONTREALMay 11, 2020 – Yorbeau Resources Inc. (TSX: YRB) (the “Company” or “Yorbeau“) today announces that Mr. Henri Gélinas and Mr. Jérôme Gendron have been appointed to the board of directors of the Company and that Mr. Pierre Éloi Talbot has resigned as a director. Mr. Gélinas was concurrently appointed as Chairman of the board of the Company.

Mr. Gérald Riverin, director and former President of the Company, and Mr. Amit Gupta, director and former Chairman of the Company, will not be standing for re-election as directors of Yorbeau at the Company’s upcoming annual shareholder meeting which is scheduled to be held on June 17, 2020.

The Company thanks Messrs. Gupta, Talbot and Riverin for their contributions to the Company during their years of service.

Mr. Gélinas has over 50 years of experience in the construction and infrastructure industry. From 1965 to 1972, Mr. Gélinas worked at the Ministère des Transports du Québec, where he participated in the construction of the Trans‑Canada Highway between Québec City and Rivière-du-Loup. In 1972, Mr. Gélinas founded Construction Gely Inc., a construction company specialized in the construction of bridges, roads, docks and airports in remote regions. In 1984, Mr. Gélinas expanded Construction Gely Inc.’s operations into the Nunavik territory in Northern Québec, and again into Nunavut in 1987. Mr. Gélinas is also the President and founder of Kudlik Construction Inc., a construction company founded in 1993, and Kudlik Aviation Inc., a regional air transport company founded in 2007. Mr. Gélinas holds a Bachelor of Engineering (Metallurgy) from the University of Laval.

Mr. Gendron has extensive experience as an investment advisor, with a career spanning over 50 years with Nesbitt, Thomson and Company (now BMO Nesbitt Burns Inc.). Mr. Gendron holds both a Bachelor of Administration and a Bachelor of Engineering (Metallurgy) from the University of Laval, as well as a Master of Business Administration from Ivey Business School.

The board of directors of the Company has also appointed Mr. Terry Kocisko as Interim Chief Executive Officer.

Terry Kocisko, director and Interim Chief Executive Officer, commented: “I would like to welcome Mr. Gélinas and Mr. Gendron to the board of Yorbeau. The Company is looking forward to the benefit of their experience and insight in executing the Company’s strategic objectives.”

About Yorbeau Resources Inc.

Yorbeau Resources is a diversified mining exploration company with an enviable portfolio of exploration properties in Quebec. The exploration projects comprise both gold and base metal projects, and the strategic focus of the Company is on projects located in areas easily accessible and with infrastructure. The wholly-owned Rouyn Property is the Company’s main gold asset and 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, where very encouraging drilling results were obtained in 2019. The base metal assets 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.

Forward-looking statements: Except for statement of historical fact, all statements in this news release, including, without limitation, statements regarding the management succession planning of the Company, 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.

For further information:

G. Bodnar Jr.,
President and Chief Financial Officer
Yorbeau Resources Inc.
gbodnar@yorbeauresources.com
Tel: 514-384-2202
Toll free in North America: 1-855-384-2202

Yorbeau completes Geophysical Survey and expands property on the Beschefer Project, Quebec

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MONTRÉAL, March 19, 2020 - Yorbeau Resources Inc. (TSX: YRB) (the "Company" or "Yorbeau") is pleased to announce that a geophysical survey was completed on the Company's Beschefer property located in northwestern Quebec, approximately 140 kilometers northeast of the town of La Sarre and 190 kilometres west of Matagami. The property is easily accessible via public and forestry roads that provide access to the former Selbaie Mine located approximately 10 kilometres to the northwest (Figure 1).

Figure 1. Location map of Yorbeau's projects, Quebec, including Beschefer property.

During February 2020, Abitibi-Géophysique, using their OreVision technology, completed a 7.6 kilometer induced polarization (I.P) survey. The objective was to confirm and refine some I.P anomalies outlined by Billiton Canada in 1997 on the northern part of the property. The 2020 survey was designed to test the presence of chargeability anomalies close to the Brouillan pluton where the extension of B14 fault is interpreted (Figure 2). B14 fault is known for hosting gold mineralization and particularly the B14 gold zone, where highest grade intersections included: 55.63 g/t Au over 5.57 meters and 13.07 g/t Au over 8.75 meters (please refer to the Wallbridge website). The results of the I.P survey show an E-W axes with weak chargeability highs located along the B14 fault projection on Yorbeau's Beschefer property (Figure 3). Furthermore, in March 2020, six new claims were acquired in order to fully cover theses anomalies located in the northern part of the property.

Importantly, the B14 gold zone shows a relatively flat dip to the south and consequently, the extension at depth could occur on Yorbeau's Beschefer property. Yorbeau's technical team is compiling data to refine a geological model and to target areas with the best gold potential.

G. Bodnar Jr., Company president commented: "So far, the Beschefer property has been explored by Yorbeau mostly for base metals along the B26 horizon. We are excited that recent work in the region indicates an excellent potential for gold, and our focus will now be to explore potential B14 extensions on Yorbeau's claims".

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

About Yorbeau Resources Inc.

Yorbeau Resources is a diversified mining exploration company with an enviable portfolio of exploration properties in Quebec. The exploration projects comprise both gold and base metal projects, and the strategic focus of the Company is on projects located in areas easily accessible and with infrastructure. The wholly-owned Rouyn Property is the Company's main gold asset and 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, where very encouraging drilling results were obtained in 2019. The base metal assets 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.

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

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
Figure 2. Compilation map showing the 2020 grid and untested I.P anomalies located along the interpreted west extension of B14 fault.
Figure 3. I.P interpretation of line 64+00E.

Yorbeau 2019 Drilling Program Outlines New High Priority targets at KB project in Chibougamau, Quebec camp

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Highlights

  • Yorbeau confirms historical grade and thickness of Icon showing with: 1.4 metres of 0.9% copper, 10.5% zinc, 0.1 g/t gold and 34 g/t silver.
  • Borehole geophysics modeling shows a strongly conductive plate located along KB horizon at 200m depth East of the Icon showing (target #1).
  • Discovery of a new prospective horizon (KB south horizon) where an off-hole geophysical conductor has been modelized (target #2).
  • New geological interpretation suggests that the KB horizon is shifted to the North and has not been tested on the eastern part of the property, where untested VTEM anomalies are located (target #3).

MONTREALFeb. 27, 2020 - Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") is pleased to announce results of 2019 diamond drilling and borehole geophysics program that deliver new high priority targets at its KB project in the Chibougamau area of Quebec.

The KB project is highly prospective for zinc and copper due to the presence of a historic high grade prospect associated with a massive sulphide stratigraphic horizon hosted within mafic and felsic volcanics. The property appears to have a geological setting similar to that found at the past producing high grade Lemoine mine and at Yorbeau's Scott project, including high grade VMS-style mineralization, presence of felsic tuffs, and potential for high synvolcanic heat flow resulting from the proximity of the Lac Doré (synvolcanic) Complex (Figure 1).

During November 2019, eight (8) diamond drilling holes were drilled for a total of 1475m. The objective was to test strong VTEM geophysical anomalies located along the interpreted KB horizon in which the Icon showing is located.

The 2019 drilling data compilation led to a better understanding of stratigraphy and particularly the location of the KB prospective horizon. New geological interpretation indicates the presence of a NNE trending fault. This fault shifts the overall stratigraphy by approximately 230m to the North-East and consequently, the KB horizon has not been tested East of this fault where VTEM anomalies are located (Figure 2).

Target #1

Hole KB-02 was drilled 25m below the Icon showing to better understand the geometry, stratigraphy and confirms historical grades obtained by Icon Sullivan in 1967. KB-02 intersected 1.4m of massive sulfides grading 0.9% Cu, 10.5% Zn, 0.1 g/t Au and 34 g/t Ag. Borehole geophysics modeling shows a 150m by 300m strongly conductive plate located along the KB horizon at a 200m depth East of the Icon showing (Figure 3).

Target #2

Hole KB-05 intercepted another prospective horizon located 100m south of KB horizon, returning 2.8% Cu, 1.3% Zn, 0.3 g/t Au and 30 g/t Ag over 0.2 m. This new horizon, called KB south, corresponds to a semi-massive sulfides zone hosted by an intermediate bedded tuff. Mineralization is open to the east where a borehole geophysical plate has been modelized.

Target #3

This target corresponds to the eastern part of the KB horizon that has been shifted by the fault and where several untested VTEM anomalies are located.

Significant assay results are shown below:

DDH From (m) To (m) Length (m) Cu % Zn % Au g/t Ag g/t Remarks
KB-02 34.4 35.8 1.4 0.9 10.5 0.1 34 massive sulphides
(Icon Showing on KB horizon)
KB-05 49.5 49.7 0.2 2.8 1.3 0.3 30 semi-massive sulfides
(KB south horizon)

G. Bodnar Jr., President of the Company, commented: "We are very pleased with the first drilling program on KB that outlined some exciting new targets at relatively shallow depth. These new targets are high priorities and drilling is anticipated to begin in May 2020."

Quality control

All drill cores discussed in this press release were logged and marked up for assay at the Company's secure facility in Chibougamau, Quebec. Drill cores selected for assay were split in half. Half of each core was shipped in sample bags to Techni-Lab S.G.B. Abitibi Inc. (ACTLABS) of Ste-Germaine-Boulé, Quebec, with appropriate standards, duplicates and replicates used for quality control purposes. The other half of each core was retained for future reference.

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

About Yorbeau Resources Inc.

Yorbeau Resources is a diversified mining exploration company with an enviable portfolio of exploration properties in Quebec. The exploration projects comprise both gold and base metal projects, and the strategic focus of the Company is on projects located in areas easily accessible and with infrastructure. The wholly-owned Rouyn Property is the Company's main gold asset and 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, where very encouraging drilling results were obtained in 2019. The base metal assets 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.

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

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

Figure 1. Location map of Yorbeau’s projects in the Chibougamau camp, Quebec, including KB property.


Figure 2. KB geological map showing localisation of Target #1, #2 and #3.
Figure 3. Longitudinal of KB horizon (looking north) with target#1.

Yorbeau Announces Senior Management Changes

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MONTREALFeb. 25, 2020 - Yorbeau Resources Inc. (TSX: YRB) (the "Company" or "Yorbeau") today announces that Terry Kocisko, Interim Chief Executive Officer of the Company, has tendered his resignation as Interim Chief Executive Officer of the Company, effective as of the date hereof. Mr. Kocisko will remain with Yorbeau as a director of the board of the Company.

The Company would like to thank Mr. Kocisko for his leadership and contributions during the Company's search for a permanent successor.

About Yorbeau Resources Inc.

Yorbeau Resources is a diversified mining exploration company with an enviable portfolio of exploration properties in Quebec. The exploration projects comprise both gold and base metal projects, and the strategic focus of the Company is on projects located in areas easily accessible and with infrastructure. The wholly-owned Rouyn Property is the Company's main gold asset and 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, where very encouraging drilling results were obtained in 2019. The base metal assets 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.
Vice-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 management succession planning of the Company, 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 Senior Management Changes

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MONTREALJan. 20, 2020 - Yorbeau Resources Inc. (TSX: YRB) (the "Company" or "Yorbeau") today announces that Gérald Riverin, President of the Company, has announced his intention to retire from his management duties at the Company, effective as of January 31, 2020. Mr. Riverin will remain with Yorbeau as a director of the board of the Company.

All of whom worked with Mr. Riverin at the Company would like to thank him for his efforts and his dedication during his tenure as President.

Mr. Georges Bodnar Jr., currently Vice-President and Chief Financial Officer, will assume the position of President upon Mr. Riverin's departure, in addition to maintaining his position as Chief Financial Officer.

"We are very grateful to Gérald for his contributions to Yorbeau over the past years," commented Terry Kocisko, Interim Chief Executive Officer. "He has played an important role in the exploration of the Company's properties and we wish him all the best in his well-deserved upcoming retirement."

About Yorbeau Resources Inc.

Yorbeau Resources is a diversified mining exploration company with an enviable portfolio of exploration properties in Quebec. The exploration projects comprise both gold and base metal projects, and the strategic focus of the Company is on projects located in areas easily accessible and with infrastructure. The wholly-owned Rouyn Property is the Company's main gold asset and 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, where very encouraging drilling results were obtained in 2019. The base metal assets 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.
Vice-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 management succession planning of the Company, 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 Beginning of 2020 Drilling program with IAMGOLD at the Rouyn Project

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Montreal, January 14, 2020 – 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.

In accordance with the agreement, an initial cash payment in the amount of $1,000,000 and an interim payment of $500,000 were made by IAMGOLD to Yorbeau (press release of December 11, 2019). In order to earn the purchase option, IAMGOLD must make cumulative cash payments of C$4 million and fund C$9 million dollars of exploration expenditures over a 4-year period, including no less than 20,000 metres of diamond drilling within the first two years. A total of 19,966 metres were already drilled within the first year of the agreement.

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 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 Rouyn Property covers a 12-kilometre stretch of the Cadillac-Larder Lake Break. The Astoria deposit already benefits from significant underground infrastructure including a 515 metre deep shaft and over 5 kilometres of lateral workings.

Two drill rigs have now mobilized to the property and a program of approximately 14,000 metres is planned. The initial focus of the program will be on the Lac Gamble zone with the objectives of converting exploration potential to mineral resources and of testing the possible extension of the zone to the west. The Lac Gamble zone remains indeed open to the west as indicated by the 2019 drilling program (press release of July 31, 2019).

Gérald Riverin, Company president commented: “We are most happy to see the drills turning again at the Rouyn property and pleased to be working with the IAMGOLD team. Continuing on with more drilling no doubt reflects the confidence of our partner IAMGOLD in the potential of the Rouyn project. The drilling program was established by IAMGOLD in close cooperation with the Yorbeau staff, and we are looking forward to forthcoming results.

Work at Yorbeau is carried out under the supervision of Gérald Riverin, Ph.D., P. Geo. He is a qualified person (as defined by NI 43-101) and has reviewed 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 6km long Augmitto-Astoria corridor situated on the western portion of the property. 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 completed.

For additional information on the Company, consult its website at www.yorbeauresources.com.

For further information, please contact:

Gérald Riverin, PhD, P. Geo
President, Yorbeau Resources Inc.
Yorbeau Resources Inc.
griverin@yorbeauresources.com
Tel: 819-279-1336

G. Bodnar Jr.
Vice-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, without limitation, regarding cash payments to be made by IAMGOLD and 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.