Majescor Resources Acquires Gold Project in Madagascar

Majescor Resources Inc. (TSX VENTURE:MAJ - News)

Majescor wholly owned subsidiary, Tropic Diamonds Inc., is pleased to announce it has entered into an agreement with a Malagasy partner concerning the acquisition of a gold property consisting of two permits in Madagascar.

The permit holder have granted to Tropic, for a small cash consideration, the right to perform exploration and assessment work on its property over the next nine (9) months. Pending positive results of this work, the mining titleholder agrees to sell and transfer to Tropic the two permits, for the sum of CAN$7,500 in cash. In the event a mine is developed, Tropic shall pay a net smelter royalty (NSR) of 1%, which may be purchased at any time for CAN$100,000.

The property, located in northern Madagascar, shows a prospective geological setting for copper-gold mineralization. The Daraina zone is one of the rare regions in Madagascar with low-grade metamorphic conditions (greenschist). This series, interpreted as a calc-alkaline continental-type volcano-sedimentary unit (Andean-type), exhibits bimodal volcanism, with basalts, andesites, dacites and rhyolites. Intrusive rocks consist of granodiorites. Microcrystalline felsic intrusions are also reported within the volcanic pile. The formation is interpreted as Neoproterozoic (715-754 Ma) in age. The most recent exploration work dates back to the 1970s, but gold was not targeted at the time. Several Cu showings (in bedrock and alluvial geochemistry anomalies) were however discovered.

Gold was discovered on the property during the Daraina gold rush in 1991-1992. Gold washers essentially focussed on alluvial sediments with a total production estimated between 200 and 400 kg (unverified data). Two gold-bearing veins were discovered during the same period.

Two of the six samples collected by the current owner at former gold washing sites yielded significant grades (17.44 and 34.92 g/t). Samples were analyzed at Acme Analytical Laboratories in Vancouver. After being crushed and pulverized (R150), 30-g samples were digested in aqua regia then analyzed by ICP (Group 3B).

As soon as the site becomes accessible, Tropic will conduct a geological reconnaissance program in the field as well as a bedrock, stream sediment and soil sampling program.

Andre Audet, President and CEO, states, "We are very pleased to be able to take advantage of our presence in Madagascar to increase our portfolio of properties. Following our success in diamond exploration, we believe Madagascar also holds good potential for gold. Madagascar is largely underexplored. The Daraina zone, with its prospective geology, the presence of alluvial gold washing sites and encouraging preliminary analytical results proving the presence of economic grades, have allowed us to zero in on a target area and will hopefully yield results fairly quickly".

This press release was prepared by Pascal Marchand, P. Geo., project geologist, who is the "Qualified Person" for this project.

About the Company:

Majescor is an exploration company with a large portfolio of diamond properties in Quebec, as well as projects in Nunavut, the Northwest Territories, Brazil and Madagascar.

To find out more about Majescor Resources Inc. (TSX-V: MAJ - News), visit our website at www.majescor.com

This press release is available on the Majescor IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/IR/Majescor. Alternatively, investors are asked to e-mail all questions and correspondence to MAJ@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.

The TSX Venture Exchange does not accept responsibility for adequacy or accuracy of this release.



Contact:
Corporate Inquiries
Majescor Resources Inc
Andre Audet, Chairman & CEO
(613) 241-5333
andre@majescor.com

http://www.agoracom.com/IR/Majescor
AGORA Investor Relations
MAJ@agoracom.com

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