Yorbeau Resources Inc.
TSX : YRB.A

Yorbeau Resources Inc.

February 28, 2014 13:11 ET

Yorbeau Provides Update On Gold Fields' 2013 Drilling Program

MONTRÉAL, QUÉBEC--(Marketwired - Feb. 28, 2014) - Yorbeau Resources Inc. (TSX:YRB.A) (the "Company" or "Yorbeau") is pleased to provide an update on the results of the diamond drilling program carried out in 2013 by Gold Fields Sudbury Exploration Corp. ("Gold Fields") on the Company's Rouyn property.

The 2013 program represented the first phase of a $4M exploration commitment made by Gold Fields pursuant to the option and joint venture agreement entered into between Gold Fields and the Company. The 2014 exploration program which is currently under way is budgeted at $2.2M and will consist of approximately 14,000 metres, mostly targeting either the extension at depth of known gold mineralization or potential new zones in the eastern half of the property.

The 2013 drilling program totalled 7,808 metres in 26 drill holes located in the Cinderella, Augmitto and Gamble Lake blocks (click here to see the location map). The objective at Cinderella was to check for possible expansion of the known mineralization at depths shallower than 400 metres. Most of the drilling involved stepping out from existing zones. At Augmitto, the objectives were to confirm near surface mineralization below historical exploration trenches and test the potential effect of using different drilling orientations. Finally, at Gamble Lake, the objective was to confirm mineralization in a new sector developing at depth in the west boundary of the Gamble Lake zone.

PROGRAM HIGHLIGHTS

Highlights of the 2013 program are shown below:

Hole CI-13-616: 6.6 g/t Au over 9.0 metres (in the Footwall Zone)
- including 27.1 g/t Au over 1.0 metres
Hole CI-13-620: 13.0 g/t Au over 5.4 metres
- including 42.4 g/t Au over 1.0 metres
Hole AUG-13-625: 11.4 g/t Au over 5.3 metres
- including 16.6 g/t Au over 3.0 metres
Hole AUG-13-627: 7.9 g/t Au over 7.0 metres
Hole GA-13-628: 6.0 g/t Au over 11.3 metres at depth at Lac Gamble Zone
- including 30.4 g/t Au over 1.0 metres

Cinderella Area

A series of 18 holes totalling 5,350 metres was drilled to explore the top 400 metres of the Cinderella Zone, including 7 holes (1,633 m) testing near surface mineralization in the eastern portion of Cinderella. All holes intersected the favourable carbonatized Piché ultramafics, many of which containing visible gold. Significant assay results are shown below:

Hole from to Au (g/t) Core length (m) Remarks
CI-13-603 132.8 133.9 1.5 1.1 Piché
CI-13-604 348.9 355.0 1.2 6.1 Piché
368.4 370.7 1.8 2.3 Piché
472.4 479.9 0.9 7.4 Footwall
CI-13-605 203.3 207.5 1.4 4.2 Piché
CI-13-606 211.0 213.3 1.4 2.3 Piché
330.0 332.0 1.0 2.0 Footwall
336.0 337.3 1.3 1.3 Footwall
CI-13-607 No significant values
CI-13-608 104.4 106.7 0.6 2.3 Piché
215.0 216.0 1.3 1.0 Footwall
CI-13-609 266.0 267.0 1.6 1.0 Piché
358.2 368.2 1.6 10.0 Footwall Zone VG
CI-13-610 310.4 314.0 3.9 3.6 Footwall Zone VG
CI-13-611 258.1 270.4 1.0 12.3 Piché, VG+
CI-13-612 Abandoned due to deviation
CI-13-613 267.1 271.1 1.8 4.0 Piché
308.0 311.0 1.2 3.0 Piché, VG
335.0 336.0 3.3 1.0 Piché, VG
Although true width of the mineralized zones cannot be established with accuracy given the large spacing between holes, it is estimated that it may represent about 70% of core length.

While anomalous values were obtained around the previously known mineralized zones at Cinderella, the drilling did not lead to an expansion of the zones. However, the drilling to test near surface mineralization in the eastern portion of Cinderella returned several high grade assays in the vicinity of historical holes 05-S-390 et 05-S-397 which had returned respectively 24.1 g/t Au over 1.5 m and 1.9 g/t Au over 7.1 m. Significant results of the 2013 drilling are shown below.

Cinderella East Results

Hole from to Au (g/t) Core length (m) Remarks
CI-13-614 48.9 50.0 6.6 1.2 Piché, VG
75.0 76.0 12.3 1.0 Piché, VG
121.8 122.8 1.1 1.0 Footwall Zone
CI-13-615 22.0 26.7 0.6 4.7 Hanging wall
53.0 57.0 1.1 4.0 Piché, VG
150.0 151.0 1.0 1.0 Footwall
CI-13-616 341.0 342.0 0.8 1.0 Piché
423.0 432.0 6.6 9.0 Footwal Zone, VG+++
including
424.0 425.0 27.1 1.0
428.0 429.0 15.0 1.0
CI-13-617 97.0 99.0 0.5 2.0 Piché
171.0 172.0 1.4 1.0 Footwall Zone VG
CI-13-618 213.0 216.0 2.0 3.0 Footwall Zone
CI-13-619 190.5 193.5 0.6 3.0 Footwall Zone VG
206.5 212.0 2.4 5.5 Footwall Zone VG
including
207.5 208.5 7.9 1.0
CI-13-620 61.0 74.0 13.0 5.4 Piché VG+
including
65.4 66.4 42.4 1.0
74.0 75.0 21.1 1.0
123.9 124.9 1.4 1.0 Footwall Zone
Although true width of the mineralized zones cannot be established with accuracy given the large spacing between holes, it is estimated that it may represent about 70% of core length.

Lac Gamble

At Gamble Lake the objective was to confirm mineralization in a new sector developing at depth near the west boundary of the Gamble Lake zone. This new interesting sector, discovered by Yorbeau with hole 12-GA-593 drilled in late 2012, had intersected 3.7 g/t Au over a core length of 15 metres (press release of December 6, 2012). In 2013, 3 holes totaling 1,168 metres were drilled to follow up on this while hole GA-13-621 (387 m) was drilled in a wide gap between the Cinderella and Gamble Lake zones. Hole GA-13-622 had to be abandoned for excessive deviation. Significant assay results are shown below.

Hole from to Au (g/t) Core length (m) Remarks
GA-13-621 287.4 290.4 1.5 3.0 Piché, west of Gamble Lake zone
353.0 354.0 0.5 1.0 Footwall Zone, VG
GA-13-622 Abandoned due to deviation
GA-13-623 491.0 500.0 0.5 9.0 Piché, VG
GA-13-628 495.7 507.0 6.0 11.3 Piché, VG++++
including
497.8 498.8 30.4 1.0
503.0 504.0 22.6 1.0
Although true width of the mineralized zones cannot be established with accuracy given the large spacing between holes, it is estimated that it may represent about 70% of core length.

Results obtained in hole GA-13-628 are considered most encouraging as they support the hypothesis that the Gamble Lake zone remains open to the west at depth. Further drilling by Gold Fields is planned in this sector (press release of January 30, 2014).

Augmitto

During the summer 2013, historical trench #4 was cleaned up and extended to the east in order to observe the Augmitto mineralized zone in the vicinity of drill hole 07-S-442 which had returned a grade of 11.3 g/t Au over a core length of 8.5 m. After detailed mapping of the gold bearing veins and structures at surface, a drill program was carried out with the objectives of confirming near surface mineralization below historical exploration trenches and also to test the potential effect of using different drilling orientations. Significant assay results are shown below.

Hole from to Au (g/t) Core length (m) Remarks
AUG-13-624 49.0 57.0 2.7 8.0 Piché, VG++
69.3 78.0 1.7 8.7 Piché
AUG-13-625 55.7 67.1 11.4 5.3 Piché, VG++
including
57.0 58.0 9.2 1.0
58.0 59.0 13.3 1.0
59.0 60.0 27.2 1.0
85.2 93.2 1.1 7.0 Piché
AUG-13-626 92.0 94.0 1.4 2.0 Piché
105.0 126.0 2.1 21.0 Piché,VG
including
112.0 116.0 4.1 4.0
120.0 122.0 6.9 2.0
AUG-13-627 9.8 21.3 2.9 11.5 Piché
32.0 39.0 7.9 7.0 Piché, VG++
including
35.0 36.0 16.1 1.0
37.0 38.0 18.4 1.0

During mapping of the trench and detailed core logging, it appeared that two main sets of quartz veins stand out by their abundance of visible gold and the majority of the high grade assays in the above drilling are associated with these two sets. Because of the various drilling orientations designed to better intersect specific vein orientations, the true widths of the above mineralized envelopes may range widely between 25 and 45 % of the measured core lengths. In general, the 2013 drilling below the Augmitto trenches confirmed the previous assay results. With respect to the potential effect of using different drilling orientations, the results are still being evaluated. However, at this time it does not seem warranted to modify the drilling strategy while testing the mineralized envelopes within the Piché formation.

"We are pleased with the drilling results obtained in 2013 and in particular with Gold Fields' strategy focused on diamond drilling. Yorbeau's Rouyn property encloses an impressive number of gold intersections over a very large area and, consequently, a very significant amount of drilling remains to be done in order to unlock the full value of the Rouyn property. Yorbeau's association with Gold Fields is a major step in realizing the required drilling. We remain confident that we are working on a significant gold deposit that ultimately may have to be proved up by underground exploration" says President and CEO David Crevier.

The qualified person under National Instrument 43-101 is Laurent Hallé, P.Geo., who has reviewed and approved the content of this release.

Samples are analyzed at ALS Chemex Laboratories in Val d'Or, Quebec and the sampling and assaying program is subjected to Gold Fields' extensive QA/QC program that includes inserting blanks and gold standards in batch samples being sent to the assay laboratory. Samples that contain visible gold are subjected to a strict sampling and assay protocol designed specifically to deal with coarse particle gold.

Gold Fields Sudbury is a wholly-owned subsidiary of Gold Fields Limited, an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa. In February 2013 Gold Fields unbundled its KDC and Beatrix mines in South Africa into an independent and separately listed company, Sibanye Gold. In October 2013 Gold Fields acquired Barrick Gold's Granny Smith, Lawlers and Darlot Gold Mines in Western Australia. Gold Fields subsequently has attributable annual production of approximately 2.2 million ounces of gold, managed gold Mineral Reserves of approximately 59 million ounces and managed gold Mineral Resources of approximately 137 million ounces. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX).

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.

A recently completed comprehensive report on the Company may be found on the Company's new website at www.yorbeauresources.com. The raison d'être of Yorbeau is to identify a world class gold deposit in a major mining camp.

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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