Yorbeau Resources Inc. - Closes Second Tranche of Private Placement
MONTREAL, Feb 14, 2014 - Yorbeau Resources Inc. (TSX:YRB.A) (the "Company") is pleased to announce that it has completed a second tranche of its previously announced private placement (see press release dated January 28, 2014) by issuing an additional 1,111,112 units at a price of $0.18 per unit for gross proceeds of $200,000. To date, the Company has raised gross proceeds of $1.2 M under the current 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.
As previously announced, in May of 2013 Yorbeau entered into an option and joint venture agreement with Gold Fields Sudbury Exploration Corp., a 100% indirect subsidiary of Gold Fields Ltd. ("Gold Fields") relating to the Rouyn Property. Under the agreement Gold Fields has a firm commitment to incur $4 M in expenditures on the Property prior to the end of 2014. For more information on the option and joint venture agreement, see the Company's press releases dated May 22, 2013 and June 26, 2013.
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
David Crevier, President and CEO
Yorbeau Resources Inc.
514-284-3663
dcrevier@yorbeauresources.com
G. Bodnar Jr., Director
Yorbeau Resources Inc.
514-384-2202
Toll free in North America: 1-855-384-2202
gbodnar@yorbeauresources.com