Yorbeau Resources Inc.
TSX : YRB.A

Yorbeau Resources Inc.

April 23, 2008 17:02 ET

Yorbeau Announces Rights Offering

MONTREAL, QUEBEC--(Marketwire - April 23, 2008) - Yorbeau Resources Inc. (TSX:YRB.A) ("Yorbeau" or the "Company") is pleased to announce that it will be offering rights to holders of its Class A common shares of record at the close of business on May 8, 2008 (the "Record Date"). The offering will be made in British Columbia, Alberta, Ontario and Quebec and in such other jurisdictions where the Company is eligible to make such offering. Under the offering, each eligible shareholder will receive, for each common share held as of the Record Date, one right evidenced by a fully transferable certificate. Ten rights and $0.36 will entitle the holder to subscribe for one unit of the Company (a "Unit") at any time up to 4:00 p.m. on June 3, 2008. Each Unit is comprised of one flow-through common share and one common share of the Company.

A fully subscribed rights offering would raise gross proceeds of approximately $4,074,000. The proceeds of the offering allocated to the flow-through common shares comprised in the Units will be used by the Company to fund an exploration program on its Rouyn property budgeted at $2,000,000. The balance of the proceeds will be used for general working capital. The work carried out under the exploration program will qualify as Canadian exploration expense and will be renounced in favour of the Unit subscribers effective on or before December 31, 2008.

The proposed exploration program, which will consist of a total of 20,000 m of surface diamond drilling, is intended to test anomalies detected by the induced polarization resistivity (IP) survey which is currently being conducted over the entire 12 km length of the Cadillac-Larder Lake Break straddled by the Rouyn property. The Company intends to commence the proposed exploration program upon closing of the rights offering.

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.

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