Yorbeau Resources Inc.

Yorbeau Resources Inc.

June 06, 2007 12:19 ET

Yorbeau Raises $4,565,000 Pursuant to a Private Placement

MONTREAL, QUEBEC--(Marketwire - June 6, 2007) - Yorbeau Resources Inc. ("Yorbeau") (TSX:YRB.A) is pleased to announce it has completed a private placement of units and flow-through shares which generated gross proceeds of $4,565,000. A total of 12,662,500 common shares, of which 6,412,500 are flow-through shares and 3,125,000 warrants, have been issued under the private placement. Each warrant entitles the holder to purchase one common share at a price of $0.45 until December 6, 2008.

Broker's warrants to purchase a total of 1,266,250 common shares at a price of $0.32 per share have also been issued at the closing to Laurentian Bank Securities Inc., Northern Securities Inc. and Limited Market Dealer Inc. as partial remuneration for their services in connection with the placement.

Yorbeau will use $2,565,000 of the proceeds to incur Canadian exploration expenses on its properties and will use the balance for general working capital needs.

Yorbeau will begin a diamond drilling exploration program from surface on its Rouyn property within the next few days. The underground exploration program will also start shortly with the dewatering of the underground facilities on the Augmitto Block.

Yorbeau Resources Inc. is a mining company involved in gold exploration in Quebec, Canada. Its properties are located in a northwestern area of the province associated with a large number of significant deposits in the Cadillac-Larder Lake region on the famed Abitibi Greenstone Belt. Some 200 million ounces of gold have thus far been mined in the area.

Forward-looking statements: Except for statements 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.
    G. Bodnar Jr
    Yorbeau Resources Inc.
    Louis Bernier
    Vice President Exploration
    Communication Sun International
    Nicole Blanchard
    Relations aux investisseurs