Yorbeau claims full ownership

Yorbeau Resources of Montreal has decided to take full ownership of the Ellison gold claims located in Bousquet Twp., in northwestern Quebec, between the Bousquet and Doyon mines, the company reports.

The company says it is entitled to a 46% net profit interest in the property while the optioners retain a 41% net profit interest subject to Yorbeau recouping all expenses. Yorbeau intends to place the property into commercial production by October, 1991.

Meanwhile, effective July 31, Yorbeau shares have been consolidated on the basis of one Class “A” share for each two common shares.



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