MONTREAL, Feb. 5, 2019 /CNW Telbec/ - Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") is pleased to announce that it has created a strategic advisory board (the "Advisory Board") mandated with the task of advising the Company's board of directors and management with respect to Yorbeau's corporate and operational strategy and matters related thereto.
Yorbeau is excited to report that the Advisory Board's initial member will be Mr. Mackenzie (Mac) Watson. Additional individuals may be added to the Advisory Board from time to time based on the Company's evolving needs.
Mr. Watson, B.Sc., P.Eng., has over 50 years of experience in exploration, development, and operations in the mining industry. Mr. Watson has spent his career in the junior mining sector, notably served as Chief Executive Officer of Lynx Canada Exploration Ltd. until 1985 and as Chief Executive Officer of Freewest Resources Canada Inc. from 1985 until its acquisition by Cliffs Natural Resources in 2010. Among his many achievements, Mr. Watson was awarded Canada's Prospector of the Year Award in 1991 for his contribution to the discovery of the Harker Holloway gold mine (Ontario), the Icon-Sullivan copper mine (Quebec), the Long Lake zinc mine (Ontario), the Ellison gold deposit (Quebec) and the Hebecourt copper deposit (Quebec); and again in 2010 for his contributions to the mineral discoveries in the Ring of Fire area in Northern Ontario. Mr. Watson is also the first person to have received the Bill Dennis Award for a Canadian Discovery or Prospecting Success twice: a first time in 1991 for numerous discoveries; and again in 2009 as part of the team responsible for chromite discoveries in the Ring of Fire. He was also awarded the Quebec Prospector of the Year Award in 1992 for his participation in the discovery of the Pusticamica and Verneuil gold deposits in Quebec. In January 2015, Mr. Watson was inducted into the Canadian Mining Hall of Fame.
Mr. Watson's illustrious career as an explorer is particularly relevant for Yorbeau's business plan, having discovered the so‑called "Icon showing" in 1965, which is the main polymetallic mineralized showing on Yorbeau's newest KB project in the Chibougamau belt. Mr. Watson's advice will serve to strengthen Yorbeau's mission to develop its assets, and in particular its base metal projects in the Chibougamau camp.
Gérald Riverin, President of Yorbeau, stated: "Yorbeau is looking forward to collaborating with Mac Watson and eagerly anticipates being able to benefit from his extensive experience and expertise in mineral exploration. We hope that the newly formed Advisory Board will prove useful in supporting the Company's efforts to execute on its strategic objectives."
About Yorbeau Resources Inc.
The Rouyn Property, wholly-owned by the Company, contains four known gold deposits in the 6‑km‑long Augmitto-Astoria corridor situated on the western portion of the property. The Company signed a definitive agreement in December 2018, whereby IAMGOLD has the option to acquire a 100% interest in the Rouyn property, and a major drilling program is underway. Two of the four deposits, Astoria and Augmitto, benefit from substantial underground infrastructure and have been the subject of technical reports that include resource estimates and that were filed in accordance with Regulation 43-101. In 2015, the Company expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that feature an infrastructure favourable for mining development. The newly acquired base metal properties include the Scott Project, which bears important mineral resources (see the press release dated March 30, 2017) and on which a positive Preliminary Economic Assessment was recently completed.
For additional information on the Company, consult its website at www.yorbeauresources.com.
Forward-looking statements: Except for statement of historical fact, all statements in this news release, without limitation, regarding the formation, mandate, composition and benefits of the Advisory Board and 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. Yorbeau disclaims any obligation to update such forward-looking statements, other than as required by applicable securities laws.
SOURCE Yorbeau Resources Inc.
For further information: Gérald Riverin, PhD, P. Geo, President, Yorbeau Resources Inc., Yorbeau Resources Inc., firstname.lastname@example.org, Tel: 819-279-1336; G. Bodnar Jr., Vice-President, Chief Financial Officer, Yorbeau Resources Inc., email@example.com, Tel: 514-384-2202; Toll free in North America: 1-855-384-2202