MONTREAL, QUEBEC--(CCNMatthews - May 15, 2006) - Yorbeau (TSX:YRB.A) is pleased to announce that the decision has been taken to dewater the underground workings located on the portion of the Rouyn Property known as the Augmitto Block. Once regulatory approval is obtained, dewatering is expected to take about 2 months and cost approximately $500,000. This will allow the continuation of the current drilling program from depth which will substantially reduce the cost of drilling and provide better information.
Existing infrastructure on the Augmitto Block includes a 3,747 foot ramp, a 900 foot shaft, and extensive drifting on several levels.
A historical reserve calculation for the Augmitto Block done in April 1988 by A.C.A. Howe International Ltd., an independent consulting firm, indicates a total diluted reserve of 1,896,803 short tons at 0.165 oz/ton Au in the proven, probable and possible categories using a cut-off of 0.075 oz/ton Au. The Company has not undertaken any independent investigation of this reserve estimate nor has it independently analyzed the results of the previous exploration work in order to verify the classification of the reserves, and therefore the historical estimate should not be relied upon. However, the Company believes that this historical estimate provides a conceptual indication of the potential of the property and is relevant to ongoing exploration.