MONTREAL, Jan. 21, 2019 /CNW Telbec/ - Yorbeau Resources
Inc. (TSX: YRB) ("Yorbeau" or the "Company") is pleased to announce that diamond drilling has commenced at its
Rouyn property with 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 was made
by IAMGOLD to Yorbeau. 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.
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. Two drill rigs
are in operation on the property and the planned drilling involves a minimum of 15,000 metres with the goal of converting well
established exploration potential into mineral resources, initially at the lac Gamble zone and subsequently at the Astoria
deposit. The Astoria deposit already benefits from significant underground infrastructure including a 515 metre deep shaft and
over 5 kilometres of lateral workings.
Gérald Riverin, Company president commented: "We are pleased to work with IAMGOLD at the Rouyn property and most happy to see
the drills turning within only one month of signing the definitive agreement. The drilling program was established by IAMGOLD in
close cooperation with the Yorbeau staff, and we are looking forward to continue develop the project with the IAMGOLD team".
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 6?km?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 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,
without limitation, regarding cash payments to be made by IAMGOLD and 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.
SOURCE Yorbeau Resources Inc.
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