Yorbeau Resources Inc.
TSX : YRB.A

Yorbeau Resources Inc.

December 20, 2011 16:31 ET

Yorbeau Closes First Tranche of Private Placement

MONTREAL, QUEBEC--(Marketwire - Dec. 20, 2011) - Yorbeau Resources Inc. ("Yorbeau") (TSX:YRB.A) is pleased to announce it has completed a first tranche of its previously-announced $2,000,000 private placement by issuing a total 7,322,500 flow-through common shares at a price of $0.25 per share and 2,250,000 common shares at a price of $0.20 per share, for aggregate gross proceeds of $2,280,625. The private placement was lead by Versant Partners Inc. As a result of the offering being over-subscribed, Versant exercised its option to increase the size of the offering.

In connection with the closing of the first tranche of the private placement, Yorbeau issued broker's warrants to purchase a total of 387,150 common shares at a price of $0.20 per share to Versant Partners Inc. as partial remuneration for their services in connection with the placement. The broker's warrants may be exercised until December 20, 2012.

Yorbeau will use $1,830,625 of the proceeds raised from the issue of the flow-through common shares 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 on the Lake Gamble block of its Rouyn property in January.

The closing of the second tranche of the private placement is expected shortly.

About Yorbeau Resources Inc.

The raison d'être 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.

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