Yorbeau Announces Board and Senior Management Changes

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.
Tel: 514-384-2202
Toll free in North America: 1-855-384-2202