Mr. Georges Bodnar reports

YORBEAU CLOSES THIRD AND FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Yorbeau Resources Inc. has completed the third and final tranche of a $1.2-million private placement by issuing on Aug. 4, 2023, 8,898,333 Class A common shares composed of 3,668,333 flow-through Class A common shares at a price of seven cents per share and 5.23 million non-flow-through Class A common shares at a price of 3.5 cents per share for aggregate gross proceeds of $439,833. The first and second tranches of the private placement generated an aggregate of $760,167 in gross proceeds for the company as previously announced by the company on June 30, 2023.

The company will use the proceeds raised from the issue of the flow-through Class A common shares to incur Canadian exploration expenses on its properties and the proceeds raised from the issue of the non-flow-through Class A common shares for general corporate purposes.

Four directors of the company, namely Terry Kocisko, Georges Bodnar Jr., Henri Gelinas and Dany Laflamme, subscribed for 3,096,429, 485,714, 861,457 and 1,703,333 Class A common shares, respectively, and a total of 6,146,933 Class A common shares in the aggregate, having an aggregate subscription price of $336,534.31. As insiders of the company participated in the private placement, it is deemed to be a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The private placement was reviewed and approved by the board of directors of the company, with interested directors abstaining from voting on such approval following a disclosure of their interest in the private placement as required under the Business Corporations Act (Quebec). The private placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 (pursuant to subsections 5.5(a) and 5.7(a)) as neither the fair market value of the Class A common shares distributed to, nor the consideration received from, interested parties exceeded 25 per cent of the company's market capitalization. The company did not file a material change report at least 21 days prior to the closing of the first and second tranches of the private placement as participation of the insiders had not been confirmed at that time.

The company paid finders' fees in the aggregate amount of $3,572 with respect to a portion of the third tranche of the private placement.

About Yorbeau Resources Inc.

Yorbeau is a Canadian public company (Toronto Stock Exchange: YRB) involved in gold and base metal exploration in Quebec, Canada. Its properties are in the northwestern area of the province containing many significant deposits on the famed Abitibi greenstone belt, including major gold mines along the Larder Lake-Cadillac Break and several volcanic centres hosting major copper-zinc-gold deposits.

Yorbeau is focusing on its Rouyn gold and Scott Lake zinc-copper projects, which have demonstrated the most immediate and substantial prospects for discovery and eventual mine development. While Scott Lake is very favourably located in the Chibougamau mining camp, Rouyn represents a consolidation of several contiguous properties strategically located on the famously productive Cadillac Break in the Rouyn-Noranda mining camp. Other holdings of the company include its interest in the past-producing Joutel gold mining camp and the Beschefer property adjacent to Soquem's B-26 deposit in the Selbaie mine area.

We seek Safe Harbor.