news-releases-2013 Archives - Yorbeau Resources

Yorbeau provides update on Gold Fields’ exploration program at its Rouyn project

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Montréal, October 29, 2013 - Yorbeau Resources Inc.(TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased to provide an update on the exploration program currently being undertaken by Gold Fields Sudbury Exploration Corp. on the Company’s Rouyn property. The program consists of a two phase diamond drill program, a detailed geophysical magnetic survey and a trenching program.

On July 15, a drill rig was mobilized to begin Phase 1 of the drilling program. The program will drill approximately 11,000m and target the main mineralized trend. The primary goal of the program is to define the orientation of Au mineralization to better understand the geometry of the deposits. Targets within the corridor are located in the Augmitto, Cinderella, Lac Gamble and Astoria zones. Drilling at the historic Astoria deposit will be the first in approximately 20 years.

To date the program has completed 20 drill holes for a total of 5,777 meters. Drilling has encountered strongly altered zones and frequently visible gold. Assay results will be published once Gold Fields Sudbury has completed QAQC on the analyses. The drill rig is now located on the Lac Gamble Block where it will test mineralization intercepted in previous drill campaigns.

A 200 line kilometer ground magnetic survey was proposed for the months of July and August. To date a total of 136 line kilometres with 50 meter spacing has been completed. Coverage over the main mineralized corridor has been completed and plans to complete the eastern portion remain a priority. The survey is currently being used to interpret structures to control and offset gold mineralization in the Piché Group.

Additional work consisting of stripping and expanding trench 4 on the Augmitto Block was recently completed. A strongly altered zone thought to be related to high grade mineralization observed in historic drilling (07-S-442=11.3g/t Au over 8.5m) was exposed during the trenching exercise. A mapping exercise of the exposed gold bearing veins will be incorporated into future drill hole planning in the immediate vicinity.

Gold Fields Sudbury is a wholly-owned subsidiary of Gold Fields Limited, an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa. In February 2013 Gold Fields unbundled its KDC and Beatrix mines in South Africa into an independent and separately listed company, Sibanye Gold. In October 2013 Gold Fields acquired Barrick's Granny Smith, Lawlers and Darlot Gold Mines in Western Australia.Gold Fields subsequently has attributable gold-equivalent annual production of approximately 2.2 million ounces, Mineral Reserves of approximately 60 million ounces and Mineral Resources of approximately 158 million ounces. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX).

For more information on the option and joint venture agreement entered into between Yorbeau and Gold Fields Sudbury, see press releases dated May 22, 2013 and June 26, 2013.

About Yorbeau Resources Inc.

The Company’s 100% controlled Rouyn Property contains four known gold deposits in the 6-km-long Augmitto-Astoria corridor situated on the western half of the property. Two of the four deposits, Astoria and Augmitto, have substantial underground infrastructure and have been the focus of NI 43-101 technical reports.

A recently completed comprehensive report on the Company may be found on the Company’s new website at www.yorbeauresources.com. The raison d’être of Yorbeau is to identify a world class gold deposit in a major mining camp.

For further information, please contact:

David Crevier
President and CEO
Yorbeau Resources Inc.
dcrevier@yorbeauresources.com
Tel: 514-284-3663

G.Bodnar Jr.
Director
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 new projects, acquisitions, 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.

Gold Fields initiates drilling on Yorbeau’s Rouyn property

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Montréal, July 22, 2013 - Yorbeau Resources Inc. (TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased to announce that Gold Fields Sudbury Exploration Corp., a 100% indirect subsidiary of Gold Fields Limited (“Gold Fields”), has commenced an exploration campaign on the Rouyn property in Quebec, Canada. The campaign will include a 2 phase drilling programme. Phase I will comprise 11,000m of drilling on the Cinderella, Augmitto, Lac Gamble and Astoria Blocks with a focus on expanding the known mineralized zones at depth along structural trends identified from Yorbeau’s extensive drilling carried out over the last few years. Phase I has begun with the first of seven holes totalling 2,000m to be drilled on the Cinderella Block, which hosted a significant new discovery in 2009. Phase II will comprise 8,000m of exploration drilling on the eastern portion of the Property. The exploration campaign will also comprise geophysical surveys and geochemical soil sampling.

 

This exploration programme is being carried out pursuant to the option and joint venture agreement with Gold Fields Sudbury Exploration Corp. The effective Commencement Date under the option and joint venture agreement is June 26, 2013.

Gold Fields will manage all field work during the option period. A steering committee consisting of one representative of each of Gold Fields and the Company has been formed to oversee the exploration work and review the work program, and the committee has approved a budget of $1.9M for the balance of this calendar year. Once Gold Fields exercises its option, it will be the operator of the resulting joint venture.

As previously announced, Gold Fields has the option to earn a 51% interest in the Company’s 100% held Rouyn Property (“Property”). In order to exercise the option and vest the 51% interest, Gold Fields is required to fund $19 million in exploration and development expenditures, which includes a cash pre-payment of $1 million to Yorbeau in respect of services and equipment to be provided to Gold Fields by the Company. Gold Fields is also required to participate in three private placements for securities of Yorbeau with the cost ranging from at least $3 million up to a maximum of $6 million. Upon vesting a 51% interest in the Property, Gold Fields has a further option to increase its interest to 70% by spending an additional $15 million over three years after the initial term.

In recognition of the value of the infrastructure currently existing on the Property, the agreement also requires Gold Fields to provide the Company with a credit of $40 million in lieu of Yorbeau’s future contributions to the joint venture.

The 51% option has various milestones over a period of 4.5 years from the Commencement Date, which may be accelerated at the option of Gold Fields. These milestones include a firm commitment by Gold Fields to spend $4 million within the first 18 months with additional expenditures to be incurred at the rate of $5 million per annum for an aggregate expenditure of $19 million. The $4 million commitment includes a cash pre-payment of $1 million to be paid in two equal instalments; the first on Commencement Date and the second nine months later.

With regard to the private placements, Gold Fields will subscribe for units of the Company, each unit to consist of one common share and one-half of a purchase warrant, the units to be priced at the greater of $0.30 or a 10% premium to market. Each whole purchase warrant will entitle Gold Fields to acquire an additional common share at an exercise price equal to 110% of the unit cost. The first of the private placements is to occur 30 months after Commencement Date, with additional placements to occur thereafter on an annual basis.

About Gold Fields Limited

Gold Fields is a large unhedged producer of gold with attributable annual production of approximately 2 million gold ounces from six operating mines in Australia, Ghana, Peru and South Africa. Gold Fields also has an extensive and diverse global growth pipeline with four major projects in resource development and feasibility. Gold Fields has total attributable gold Mineral Reserves of 54.9 million ounces and Mineral Resources of 125.5 million ounces. Gold Fields is listed on the JSE Limited (primary listing), the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX). For more information visit the company’s website at www.goldfields.co.za.

About Yorbeau Resources Inc.

The Company’s 100% controlled Rouyn Property contains four known gold deposits in the 6-km-long Augmitto-Astoria corridor situated on the western half of the property. Two of the four deposits, Astoria and Augmitto, have substantial underground infrastructure and have been the focus of NI 43-101 technical reports.

A recently completed comprehensive report on the Company may be found on the Company’s new website at www.yorbeauresources.com. The raison d’être of Yorbeau is to identify a world class gold deposit in a major mining camp.

For further information, please contact:

David Crevier
President and CEO
Yorbeau Resources Inc.
dcrevier@yorbeauresources.com
Tel: 514-284-3663

G. Bodnar Jr.
Director
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 new projects, acquisitions, 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 announces completion by Gold Fields of due diligence and commencement date for option and joint venture agreement on Rouyn property

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Montréal, June 26, 2013 - Yorbeau Resources Inc.(TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased to announce that the option and joint venture agreement with Gold Fields Sudbury Exploration Corp., a 100% indirect subsidiary of Gold Fields Limited (“Gold Fields”), commenced on June 26, 2013. As announced on May 22, 2013, Yorbeau and Gold Fields entered into an agreement relating to the Rouyn Property subject to various conditions, including completion by Gold Fields of its due diligence investigation. Gold Fields has advised Yorbeau that it has completed the due diligence investigation and that all conditions under the agreement have now been satisfied with an effective Commencement Date under the agreement of June 26, 2013.

As previously announced, Gold Fields has the option to earn a 51% interest in the Company’s 100% held Rouyn Property (“Property”) in Quebec, Canada. In order to exercise the option and vest the 51% interest, Gold Fields is required to fund $19 million in exploration and development expenditures, which includes a cash pre-payment of $1 million to Yorbeau in respect of services and equipment to be provided to Gold Fields by the Company. Gold Fields is also required to participate in three private placements for securities of Yorbeau with the cost ranging from at least $3 million up to a maximum of $6 million. Upon vesting a 51% interest in the Property, Gold Fields has a further option to increase its interest to 70% by spending an additional $15 million over three years after the initial term.

In recognition of the value of the infrastructure currently existing on the Property, the agreement also requires Gold Fields to provide the Company with a credit of $40 million in lieu of Yorbeau’s future contributions to the joint venture.

The 51% option has various milestones over a period of 4.5 years from the Commencement Date, which may be accelerated at the option of Gold Fields. These milestones include a firm commitment by Gold Fields to spend $4 million within the first 18 months with additional expenditures to be incurred at the rate of $5 million per annum for an aggregate expenditure of $19 million. The $4 million commitment includes a cash pre-payment of $1 million to be paid in two equal instalments; the first on Commencement Date and the second nine months later.

With regard to the private placements, Gold Fields will subscribe for units of the Company, each unit to consist of one common share and one-half of a purchase warrant, the units to be priced at the greater of $0.30 or a 10% premium to market. Each whole purchase warrant will entitle Gold Fields to acquire an additional common share at an exercise price equal to 110% of the unit cost. The first of the private placements is to occur 30 months after Commencement Date, with additional placements to occur thereafter on an annual basis.

Gold Fields will manage all field work during the option period. A steering committee consisting of one representative each of Gold Fields and the Company will be formed to oversee the exploration work and review the work program during this period. Once Gold Fields exercises its option, it will be the operator of the resulting joint venture.

About Gold Fields Limited

Gold Fields is a large unhedged producer of gold with attributable annual production of approximately 2 million gold ounces from six operating mines in Australia, Ghana, Peru and South Africa. Gold Fields also has an extensive and diverse global growth pipeline with four major projects in resource development and feasibility. Gold Fields has total attributable gold Mineral Reserves of 54.9 million ounces and Mineral Resources of 125.5 million ounces. Gold Fields is listed on the JSE Limited (primary listing), the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX). For more information visit the company’s website at www.goldfields.co.za.

About Yorbeau Resources Inc.

The Company’s 100% controlled Rouyn Property contains four known gold deposits in the 6-km-long Augmitto-Astoria corridor situated on the western half of the property. Two of the four deposits, Astoria and Augmitto, have substantial underground infrastructure and have been the focus of NI 43-101 technical reports.

A recently completed comprehensive report on the Company may be found on the Company’s new website at www.yorbeauresources.com. The raison d’être of Yorbeau is to identify a world class gold deposit in a major mining camp.

For further information, please contact:

David Crevier
President and CEO
Yorbeau Resources Inc.
dcrevier@yorbeauresources.com
Tel: 514-284-3663

G. Bodnar Jr.
Director
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 new projects, acquisitions, 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 and Gold Fields enter into an option and joint venture agreement for the Rouyn property

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Montréal, May 22, 2013- Yorbeau Resources Inc.(TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased to announce that it has entered into an option and joint venture agreement with Gold Fields Sudbury Exploration Corp., a 100% indirect subsidiary of Gold Fields Limited (“Gold Fields”). Subject to certain conditions, Gold Fields has the option to earn a 51% interest in the Company’s 100% held Rouyn Property (“Property”) in Quebec, Canada. In order to exercise the option and vest the 51% interest, Gold Fields is required to fund $19 million in exploration and development expenditures, which includes a cash pre-payment of $1 million to Yorbeau in respect of services and equipment to be provided to Gold Fields by the Company. Gold Fields is also required to participate in three private placements for securities of Yorbeau with the cost ranging from at least $3 million and up to a maximum of $6 million. Upon vesting a 51% interest in the Property, Gold Fields has a further option to increase its interest to 70% by spending an additional $15 million over three years after the initial term.

In recognition of the value of the infrastructure currently existing on the Property, the agreement also requires Gold Fields to provide the Company with a credit of $40 million in lieu of Yorbeau’s future contributions to the joint venture.

The 51% option has various milestones over a period of 4.5 years from the commencement date, which may be accelerated at the option of Gold Fields. These milestones include a firm commitment by Gold Fields to spend $4 million within the first 18 months with additional expenditures to be incurred at the rate of $5 million per annum for an aggregate expenditure of $19 million. The $4 million commitment includes a cash pre-payment of $1million to be paid in two equal instalments; the first on commencement date and the second nine months later. With regard to the private placements for units of the Company, each unit will consist of one common share and one-half of a purchase warrant, the units to be priced at the greater of $0.30 or a 10% premium to market. The first of the private placements is to occur 30 months after commencement date, with additional placements to occur thereafter on an annual basis.

Gold Fields will manage all field work during the option period. A steering committee consisting of one representative each of Gold Fields and the Company will be formed to oversee the exploration work and review the work program during this period. Once Gold Fields exercises its option, it will be the operator of the resulting joint venture.

The transaction is subject to Gold Fields completing its due diligence enquiries by June 30, 2013, and Yorbeau obtaining all necessary regulatory approvals, including by the Toronto Stock Exchange.

About Gold Fields Limited

Gold Fields is a large unhedged producer of gold with attributable annual production of approximately 2 million gold ounces from six operating mines in Australia, Ghana, Peru and South Africa. Gold Fields also has an extensive and diverse global growth pipeline with four major projects in resource development and feasibility. Gold Fields has total attributable gold Mineral Reserves of 54.9 million ounces and Mineral Resources of 125.5 million ounces. Gold Fields is listed on the JSE Limited (primary listing), the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX). In February 2013, Gold Fields unbundled its KDC and Beatrix mines in South Africa into a separately listed company, Sibanye Gold.For more information visit the company’swebsite at www.goldfields.co.za.

About Yorbeau Resources Inc.

The Company’s 100% controlled Rouyn Property contains four known gold deposits in the 6-km-long Augmitto-Astoria corridor situated on the western half of the property. Two of the four deposits, Astoria and Augmitto, have substantial underground infrastructure and have been the focus of NI 43-101 technical reports.

A recently completed comprehensive report on the Company may be found on the Company’s new website at www.yorbeauresources.com. The raison d’être of Yorbeau is to identify a world class gold deposit in a major mining camp.

For further information, please contact:

David Crevier
President and CEO
Yorbeau Resources Inc.
dcrevier@yorbeauresources.com
Tel: 514-284-3663

G. Bodnar Jr.
Director
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 new projects, acquisitions, 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 intercepts 5.6 g/t Au over 6.0 metres and increases mineralized envelope by 30%

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Montréal, January 24, 2013- Yorbeau Resources Inc. ("Yorbeau") reports that its 2012 drilling campaign comprised 34 holes and 2 wedge-cuts for a total of 14,366 metres. All of these holes were drilled on the Lake Gamble Zone of the Rouyn Property and have confirmed the continuity of the gold bearing structures in this area resulting in an increase of the known mineralized envelope by about 30% compared to the previous year. The Lake Gamble Zone remains open to the east and to the west, and especially at depth as indicated by drill hole 12-GA-579 (see press release of September 6, 2012). The last hole in the program, 12-GA-602, returned a value of 5.6 g/t Au over 6.0 metres at a vertical depth of 230 metres.

In the coming weeks the technical staff of Yorbeau will devote itself to compiling and interpreting the results from the 2012 drilling program. These results will then be incorporated into a new resource estimate compliant with NI 43-101 which the Company intends to commission in the near future. This resource estimate will comprise the Lake Gamble and Cinderella Zones on the Rouyn Property which cover a strike length of approximately 3 km along the Cadillac Larder Lake Break (CLLB). These new resources will then be added to the known resources on the adjoining Augmitto and Astoria blocks for a global estimate of the ounces of gold contained on the western half of the Rouyn Property. In 2013 Yorbeau intends to continue exploring the numerous gold targets located on the property with an aggressive drilling program. It is expected that the program will also comprise drilling on the 6 km of largely virgin ground straddling the CLLB in the eastern half of the Rouyn Property.

Highlights of the recent drilling include the following assay drill holes:

Drill Hole From (m) To (m) Core Length (m) Au g/t Zone Remarks
12-GA-597 109.0 110.0 1.0 1.7 Piché  
  117.0 137.0 20.0 2.6 Piché 73 specks of VG over 20 m
including 120.0 131.0 11.0 4.1 Piché  
and 126.0 131.0 5.0 7.4 Piché  
  182.0 187.5 5.5 0.4 footwall  
12-GA-602 298.0 304.0 6.0 5.6 Piché 17 specks of VG over 5 m
including 299.0 300.0 1.0 23.2 Piché  
and 302.0 303.0 1.0 7.0 Piché  

The locations of the holes are shown on the attached figure. Although true width of the mineralized zones cannot be established with accuracy given the large spacing between holes, it is estimated that it may represent about 70% of core length.

The 2012 drilling program comprised a drilling pattern such that the piercing points of the various drill holes are located no more than 100 metres apart. This spacing should permit the estimation of resources in the inferred category under NI 43-101.

The qualified person under National Instrument 43-101 is Laurent Hallé, P.Geo., who has reviewed and approved the content of this release.

Samples are analyzed at ALS Chemex Laboratories in Val d'Or, Quebec. All samples are analyzed by standard fire assay. Samples returning more than 3 g/t are re-analyzed by fire assay with a gravimetric finish. Yorbeau has implemented a QA/QC program that consists of inserting blanks and gold standards in batch samples being sent to the assay laboratory. Selected pulp samples will also be re-analysed by a different laboratory.

About Yorbeau Resources Inc.

A recently completed comprehensive report on the Company may be found on the Company's new website at www.yorbeauresources.com. The raison d'être of Yorbeau is to identify a world class gold deposit in a major mining camp. Against the backdrop of a market that is steadily more welcoming for gold, Yorbeau is poised to significantly increase the known gold resources on its properties in Northern Quebec.

For further information, please contact:

David Crevier
President and CEO
Yorbeau Resources Inc.
dcrevier@yorbeauresources.com
Tel: 514-284-3663

G. Bodnar Jr.
Director
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 new projects, acquisitions, 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.