Keywords : Gold | Market |

Marketwire


Yorbeau Resources Inc.
TSX:	YRB.A

Other Recent News

December 8, 2009
Yorbeau Closes First Tranche of Private Placement
MONTREAL, QUEBEC--(Marketwire - Dec. 8, 2009) - Yorbeau Resources Inc. ("Yorbeau") (TSX:YRB.A) is pleased to announce that the Company has closed on a non-brokered private placement financing of $1.35M representing the first tranche of an equity financing of up to $4M. Under this first tranche the Company has issued 5,400,000 common shares at a price of $0.25 per share for gross proceeds of $1,350,000. Under the financing the Company has agreed to pay a finder's fee on certain subscriptions equal to 6% of the gross proceeds raised and warrants ("Finder's Warrants") equal to 5% of the shares sold. Each Finder's Warrant will be exercisable for one common share of the Company at a price of $0.40 per share and will expire 18 months following closing. Proceeds from the offering will be used primarily to fund the Company's 2010 exploration program which will commence in early January. The last hole of the 2009 season is near completion at the Lake Gamble block. Drilling will continue at Lake Gamble after the holiday break to extend the gold zone there. Drilling will also be re-started at the Cinderella block, which has not been drilled since the high grade results from hole 519 were published. The objective at this block is to drill additional holes in the vicinity of the 2008 drill holes, holes 464 and 467, and to drill more holes in the vicinity of hole 519 which encountered 12.6 g/t Au over 4.0 metres in the Piche Group and 74.67 g/t Au over 10.35 metres, including 5,750 g/t Au over 0.13 metres in a new zone situated in the metasediments below the Piche Group (see press release of September 23, 2009). In other developments the Company notes that Agnico-Eagle Mines Limited has commenced a drilling program on its Ellison Property which was purchased from Yorbeau and on which Yorbeau retains a 21/2% Net Smelter Return Royalty. The following is an extract from the Agnico-Eagle press release of November 30, 2009: "Additionally, the Company is exploring its Ellison property, located approximately four kilometres west of the LaRonde mine. One hole is being drilled from surface, targeting an extension of Iamgold's Westwood deposit, which is known to cross the boundary onto Ellison. The Westwood orebody begins approximately 2 kilometres below surface and is between the Ellison property and Iamgold's Doyon property, in the same favourable horizon as the Bousquet (past producer), LaRonde and Doyon mines. Drilling began November 9 and is anticipated to reach the target area in the first quarter of 2010." Samples from the Rouyn property are analyzed by ALS-Chemex in Val-d'Or, Quebec. The qualified persons under National Instrument 43-101 are Thomas L. Robyn Ph.D., CPG, RPG, and Laurent Halle, P.Geo., who have reviewed and approved the content of this release. About Yorbeau Resources Inc. The raison d'etre 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. 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.

CONTACT INFORMATION:

Yorbeau Resources Inc.
Thomas L. Robyn, Ph.D.
President and CEO
tlrobyn@yorbeauresources.com

or

Yorbeau Resources Inc.
G. Bodnar Jr.
Director
514-384-2202
gbodnar@yorbeauresources.com
www.yorbeauresources.com

INDUSTRY: Manufacturing and Production - Mining and Metals

Footer

If you no longer want to receive announcements from us, please do not reply to this e-mail. Instead simply click .

Yorbeau Resources Inc.

	EXPLORATION STAGE
	CODE : YRB-A.TO
	ISIN : CA9861913023

Follow and Invest

Add Alert	Add to Watchlists	Add to Portfolio	Add Note

Profile Market
Indicators VALUE :
Projects & res.Press
releases Annual
report RISK :
Asset profile Contact Cpy

Yorbeau is a gold exploration company based in Canada.

Yorbeau holds various exploration projects in Canada.

Its main exploration properties are ROUYN, ASTORIA, AUGMITTO & CINDERELLA, LAKE GAMBLE BLOCK, BESCHEFER and ELLISON in Canada.

Yorbeau is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 22.4 millions as of today (US$ 17.5 millions, € 15.3 millions).

Its stock quote reached its highest recent level on December 29, 2000 at CA$ 1.80, and its lowest recent point on April 24, 2015 at CA$ 0.04.

Yorbeau has 263 440 266 shares outstanding.

Legends
	Production
	Mine development
	Discovery
	Exploration
	Past producer
On Google Earth, click on the button, to show property information, and access to project page or company page.

Yorbeau Resources Inc.

Closes First Tranche of Private Placement

Yorbeau Resources Inc.