news-releases-2016 Archives - Page 2 of 3 - Yorbeau Resources

Yorbeau announces appointment of new officers

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Montreal, July 12, 2016 - Yorbeau Resources Inc. (TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased to announce that Amit Gupta has been appointed as the Chairman and Chief Executive Officer of the Company and Georges Bodnar Jr. as the Vice President of the Company, effective immediately. Messrs. Gupta and Bodnar are both directors of Yorbeau.

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 that include resource estimates. Yorbeau and Kinross Gold Corporation (“Kinross”) have recently signed a letter of intent providing for the grant to Kinross of an option to acquire a 100% interest in the Company’s Rouyn Property (see press release dated June 22, 2016).

The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development. The newly acquired base metal properties include Scott Lake which hosts important mineral resources, and Beschefer where, regionally, exploration interest has been increasing.

More information on the Company may be found on the Company’s website at www.yorbeauresources.com.

For further information, please contact:

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

G. Bodnar Jr.
Vice President
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 Kinross sign letter of intent for the Rouyn property

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Montreal, June 22, 2016 - Yorbeau Resources Inc. (TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased to announce that it has signed a non-binding letter of intent (“LOI”) with Kinross Gold Corporation (“Kinross”), whereby Kinross has the option to acquire a 100% interest in Yorbeau’s Rouyn property (“Property”) in Quebec, Canada.

The LOI outlines mutually acceptable terms for a definitive option agreement under which, subject to certain conditions, Kinross would over a 4-year period make certain exploration expenditures towards an option to purchase a 100% interest in the Property. In order to earn the purchase option, Kinross must complete a resource estimationi for the Property after funding C$12 million dollars of exploration expenditures, including a firm commitment to spend C$3 million in the first 18 months including no less than 12,500 meters of diamond drilling. Kinross will be the operator and project manager of the Property during the option period with Yorbeau to have representation on a Technical Committee which will oversee the work program. Upon completion of the resource estimate, Kinross will have the option to acquire a 100% interest in the Property for a single cash payment consisting of (i) USD $25,000,000, plus (ii) 2% of the prevailing gold priceii multiplied by the number of ounces of gold in measured, indicated and inferred resources identified by Kinrossiii. In addition to the cash payment, Yorbeau will retain a 2% NSR on any gold ounces produced in excess of the number of ounces identified by Kinross in the resource estimate and on any other minerals produced from the Property.

The Company is also pleased to announce that Kinross has committed to participate in a $1 million private placement of units in the Company upon signing the definitive option agreement.

Company president Gérald Riverin stated: “Company management is highly enthusiastic to partner with Kinross to advance the Rouyn project with the intention of realizing value for all project stakeholders. Signing the letter of intent marks a significant milestone for Yorbeau and the Rouyn project and weare looking forward to working with Kinrossto finalize the definitive option agreementand continue work on the project.”

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 that include resource estimates.The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development. The newly acquired base metal properties include Scott Lake which hosts important mineral resources, and Beschefer where, regionally, exploration interest has been increasing.

More information on the Company may be found on the Company’s website at www.yorbeauresources.com.

For further information, please contact:

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

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.

___________________

The resource estimate to be completed according to Kinross’ standard estimation and reporting practices subject to detailed technical parameters to be agreed between Kinross and Yorbeau in the definitive option agreement.

ii The price of gold for these purposes will be determined by the average London Bullion Market Association “initial” and “final” fixing prices for gold quoted in US dollars over the period of 30 trading days prior to the confirmation by Kinross of its completion of the required expenditures.

iii The number of ounces applied to the calculation of the payment to include those classified as measured, indicated or inferred resources (as such terms are defined by the Canadian Institute of Mining, Metallurgy and Petroleum in the most recent CIM Definition Standards for Mineral Resources and Mineral Reserves).

Yorbeau announces the results of the vote for the election of directors

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Montréal, June 17, 2016- Yorbeau Resources Inc.(TSX: YRB.A) (the “Company” or “Yorbeau”) announces that the nominees listed in the Company’s management proxy circular dated May 13, 2016 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 15, 2016 in Montreal are set out below.

Nominee Votes For For Votes Withheld Withheld
G. Bodnar Jr. 92,432,914 97.11 2,752,837 2.89
David Crevier 91,466,851 96.09 3,718,900 3.91
Pierre Gagnier 93,125,714 97.84 2,060,037 2.16
Amit Gupta 93,485,355 98.21 1,700,396 1.79
Marcel Lecourt 93,495,755 98.22 1,689,996 1.78
Gérald Riverin 93,498,996 98.23 1,686,755 1.77
As the vote for the election of directors was taken by a show of hands, the number of votes disclosed above reflects only the proxies received by management before the meeting.
 
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 that include resource estimates. The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development.
 
More information on the Company may be found on the Company’s website at www.yorbeauresources.com.

For further information, please contact:

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 reports 4.6 metres of 19.4% zinc at Scott Project and extends drilling program

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Montréal, June 13, 2016 - Yorbeau Resources Inc. (TSX: YRB.A) (the "Company" or "Yorbeau") is pleased to report on recent diamond drilling results at its 100% owned Scott Lake project in Quebec.

Drill hole SC-85W, which was the second last hole in the 2016 program, intersected high grade zinc in massive sulphides at the western edge of the Gap Lens. This mineralized interval, as were all intercepts released by the Company since June 2015, is located outside of the mineral resources as currently estimated (see attached Figure 1) at the Scott project.

Assay results are shown below:

DDH SC-85W Section 2050W(weighted averages)

From (m) To (m) Length (m) Cu % Zn % Au g/t Ag g/t Remarks
944.7 949.2 4.5 0.2 19.4 0.2 31.0 Massive sulphides
 

As this is still preliminary drilling on the above mineralization, the exact shape and true width cannot be determined with certainty. The core lengths obtained may not reflect the true width of the mineralization.

Hole SC-85W is a wedge-cut drilled up-dip from original hole SC-85, completed in the last month, and is part of the on-going 2016 program which consists in acquiring enough drill data at a nominal 50 metre spacing to initiate a revised resources estimate. Prior to SC-85W, holes SC-84 and SC-85 were drilled, specifically to test for down plunge extensions of the Gap Lens, but did not encounter mineralization (see attached Figure 1). As shown in Figure 1, and as supported by borehole geophysics, the Gap Lens is presently thought to be cut-off or have ended to the west around section 2050W.

However, borehole geophysics clearly shows potential extension at depth below SC-83, and also at shallower depth to the east. In particular, geophysical vectors as well as computer modelling of the data in surrounding holes SC-31 and SC-31W2 clearly suggest strong conductivity to the east. The Company has therefore decided to extend the planned program and drill two additional holes totalling approximately 1,500 metres to the east on section 1800W prior to initiating the revised resource estimate.

Hole SC-86, located about 50 metres west of SC-82 (Figure 1), was completed on June 10 and was the last hole of the initial planned program. It was sampled and assays will be released in late June. The additional drilling will start immediately after a short break for the drilling crew.

Company president Gérald Riverin stated: "We continue to be very encouraged with the on-going drilling program and hitting high grade zinc in SC-85W near the western edge of the lens is certainly considered a positive development. By extending the planned program with two more holes we realize that the revised resource estimate is going to be delayed by a few weeks. However, success in these two holes would lead to a further increase in mineral resources, which is the ultimate objective of the program. We are looking forward to pursuing drilling in this sector."

The Scott Lake property, 100% owned by Yorbeau, already hosts a number of polymetallic massive sulphide lenses. These represent combined inferred resources of 5.45 million tonnes grading 1.2% copper, 4.6% zinc, 0.2 g/t gold and 34 g/t silver, using an NSR cut-off of $80 per tonne (Technical Report prepared by Roscoe Postle Associates and filed by Cogitore Resources in 2011).

All drill core discussed in this press release was logged and marked up for assay at the Company’s secure facility in Chibougamau, Quebec. Drill core selected for assay was split in half. Half of the 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 the core is retained for future reference.

Work is carried out by the personnel of Yorbeau, under the supervision of Gérald Riverin, PhD, 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.

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 that include resource estimates. The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development. The newly acquired base metal properties include Scott Lake which hosts important mineral resources.

More information on the Company may be found on the Company’s website at www.yorbeauresources.com.

For further information, please contact:

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

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 closes final tranches of private placements

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Montreal, April 29, 2016 - Yorbeau Resources Inc. (the “Company”) (TSX: YRB.A) is pleased to announce that it has completed an additional and final tranche of its previously announced private placement (see press release dated March 11, 2016) by issuing an additional 1,428,572 units at a price of $0.07 per unit for gross proceeds of $100,000.The Company has raised total gross proceeds of $850,000 under this financing.

The Company has also completed a second tranche of its previously announced flow-through private placement (see press release dated April 1, 2016) by issuing an additional 1,666,667 flow-through shares at a price of $0.105 per share for gross proceeds of $175,000. The Company has raised total gross proceeds of $800,000 under this financing.

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 that include resource estimates. The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development.

More information on the Company may be found on the Company’s website at www.yorbeauresources.com.

For further information, please contact:

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

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 closes second tranche of private placement

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Montreal, April 20, 2016 - Yorbeau Resources Inc.(the “Company”) (TSX: YRB.A) is pleased to announce that it has completed a second tranche of its previously announced private placement (see press release dated March 11, 2016) by issuing an additional 3,571,428 units at a price of $0.07 per unit for gross proceeds of $250,000. The Company has raised total gross proceeds of $750,000 under this financing.

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 that include resource estimates. The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development.

More information on the Company may be found on the Company’s website at www.yorbeauresources.com.

For further information, please contact:

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

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 closes $625,000 private placement

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Montreal, April 1, 2016 - Yorbeau Resources Inc. (the “Company”) (TSX: YRB.A) is pleased to announce that it has completed a non-brokered private placement of 5,952,381 flow-through common shares at a price of $0.105 per share for gross proceeds of $625,000.

At closing, the Company paid to Secutor Capital Management Corp. a finder’s fee of 8% of the gross proceeds of the private placement.

The Company will use the proceeds raised from the issue of the flow-through common shares to incur Canadian exploration expenses on its properties.

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 that include resource estimates. The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development.

More information on the Company may be found on the Company’s website at www.yorbeauresources.com.

For further information, please contact:

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

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 reports 18 metres of 10.9% zinc at Scott project

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including 7.5 metres of 14.3% zinc

Montréal, March 31, 2016 - Yorbeau Resources Inc. (TSX: YRB.A) (the "Company" or "Yorbeau") is pleased to report on recent diamond drilling results at its 100% owned Scott Lake project in Quebec.

Drill hole SC-83W intersected two distinct massive sulphide intervals within the Gap Lens, and one narrow but high grade "vein-type" mineralized interval hosted by intrusive rocks. These mineralized intervals, as were all intercepts released by the Company since June 2015, are located outside of the mineral resources as currently estimated (see attached Figure 1) at the Scott project.

Assay results are shown below:

DDH SC-83W Section 1950W(weighted averages)
From(m) To(m) Length(m) Cu% Zn% Au g/t Ag g/t Remarks
940.5 948.7 8.2 0.2 4.1 0.6 46.7 massive sulphides(Gap Lens-north)
956.5 974.5 18.0 0.3 10.9 0.3 33.5 massive sulphides (Gap Lens-south)
including
957.5 965.0 7.5 0.4 14.3 0.4 37.3 massive sulphides
980.6 982.6 2.0 - 22.7 - 7.6 remobilized (vein) sulphides

As this is still preliminary drilling on the above mineralization, the exact shape and true width cannot be determined with certainty. The core lengths obtained may not reflect the true width of the mineralization.

Hole SC-83W is a wedge-cut drilled up-dip from original hole SC-83 (press release of March 2, 2016) and is part of the on-going 2016 program which consists in acquiring enough drill data at a nominal 50 metre spacing to initiate a revised resources estimate. The presence of two distinct parallel zones of massive sulphides in the Gap Lens is a pattern that is now seen in at least six of the 9 holes that hit the Gap Lens so far (Figure 1). Forthcoming drilling will help confirm whether there is sufficient continuity in the two parallel zones to include both of them in the mineral resource model.

Company president Gérald Riverin stated: "We continue to be very encouraged with the on-going drilling program and particularly with the cumulating indications of the presence of two parallel zones that could ultimately be included in the mineral resource model. We are looking forward to pursuing drilling in this sector."

The Scott Lake property, 100% owned by Yorbeau, already hosts a number of polymetallic massive sulphide lenses. These represent combined inferred resources of 5.45 million tonnes grading 1.2% copper, 4.6% zinc, 0.2 g/t gold and 34 g/t silver, using an NSR cut-off of $80 per tonne (Technical Report prepared by Roscoe Postle Associates and filed by Cogitore Resources in 2011).

All drill core discussed in this press release was logged and marked up for assay at the Company's secure facility in Chibougamau, Quebec. Drill core for assay was split in half. Half of the core was shipped in sample bags to Laboratoire ALS Minerals of Val-d'Or, Quebec, with appropriate standards, duplicates and replicates used for quality control purposes. The other half of the core is retained for future reference.

Work is carried out by the personnel of Yorbeau, under the supervision of Gérald Riverin, PhD, 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.

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 that include resource estimates. The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development.

More information on the Company may be found on the Company's website at
www.yorbeauresources.com.

For further information, please contact:

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

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 closes first tranche of private placement

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Montreal, March 11, 2016 - Yorbeau Resources Inc. (TSX: YRB.A) (the “Company”) is pleased to announce that the Company has closed a non-brokered private placement financing of $500,000 representing the first tranche of an equity financing of up to $750,000. Under this first tranche, the Company issued a total of 7,142,859 units at a price of $0.07 per unit for gross proceeds of $500,000. Each unit consists of one common share of the Company (a “Common Share”) and one half of one common share purchase warrant. Each whole warrant (a “Warrant”) entitles the holder thereof to purchase one Common Share at a price of $0.10 for a period of two years, provided that if the closing price of the Common Shares on the Toronto Stock Exchange is equal to or greater than $0.25 for 20 consecutive trading days, the Company will be entitled to accelerate the expiry date of the Warrants to a date ending 30 days from the date notice of such acceleration is given to the warrantholders.

Proceeds from the private placement will be used to provide working capital to the Company.

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 that include resource estimates. The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development.

More information on the Company may be found on the Company’s website at www.yorbeauresources.com.

For further information, please contact:

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

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 reports additional high grade mineralization at Scott project

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  • including 6.4 metres of 17.4% zinc

Montréal, March 2, 2016 - Yorbeau Resources Inc.(TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased to report on recent diamond drilling results at its 100% owned Scott Lake project in Quebec.

Drill hole SC-83 intersected two distinct massive sulphide intervals which constitute the deepest intercepts yet in the Gap Lens. These mineralized intervals, as were all intercepts released by the Company since June 2015, are located outside of the mineral resources as currently estimated (see attached Figure 1) at the Scott project.

Assay results are shown below:

DDH SC-83 Section 1950W(weighted averages)

From(m) To(m) Length(m) Cu% Zn% Aug/t Agg/t Remarks
988.2 996.0 7.8 0.1 9.9 1.0 30.8 massive sulphides(Gap Lens)
including
992.0 996.0 4.0 0.1 13.7 1.4 39.8 massive sulphides
and
1,033.0 1,039.4 6.4 0.3 17.4 0.6 28.5 massive sulphides (Gap Lens)

As this is still preliminary drilling on the above mineralization, the exact shape and true width cannot be determined with certainty. The core lengths obtained may not reflect the true width of the mineralization.

Borehole geophysics completed in SC-83 indicates that there is still additional conductive material downdip from the deepest intercept yet on the Gap Lens. However, while this is seen by Company management as very encouraging, testing downdip from SC-83 is not part of the objectives of the current program.

Company president Gérald Riverin stated: “We are very encouraged with the high grade results of SC-83 and particularly the higher gold grades when compared to previous holes. This augurs well for the future. We also would like to highlight the skills of our technical team which has been able to control deviation in deep holes and thus allow the Company to fully capitalize on deep drilling with a series of wedge-cuts that generate accurate pierce points at very competitive costs. We are looking forward to pursuing drilling in this sector.”

The Scott Lake property, 100% owned by Yorbeau, already hosts a number of polymetallic massive sulphide lenses. These represent combined inferred resources of 5.45 million tonnes grading 1.2% copper, 4.6% zinc, 0.2 g/t gold and 34 g/t silver, using an NSR cut-off of $80 per tonne (Technical Report prepared by Roscoe Postle Associates and filed by Cogitore Resources in 2011).

A wedge-cut from hole SC-83 was also completed updip of SC-83 and sampled recently. Assays are pending and expected to be released around March 15. A new hole is in progress to the west of SC-83.

All drill core discussed in this press release was logged and marked up for assay at the Company’s secure facility in Chibougamau, Quebec. Drill core for assay was split in half. Half of the 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 the core is retained for future reference.

Work is carried out by the personnel of Yorbeau, under the supervision of Gérald Riverin, PhD, 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.

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 that include resource estimates. The Company has recently expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development.

More information on the Company may be found on the Company’s website at www.yorbeauresources.com.

For further information, please contact:

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

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.