Majescor Resources Inc.

Majescor Resources Inc.

August 23, 2010 17:05 ET

MAJESCOR: Allyson Taylor Partners Inc. Retained as Investor Relations Consultant and Stock Options Granted

MONTREAL, QUEBEC--(Marketwire - Aug. 23, 2010) - Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) announces that it has retained Allyson Taylor Partners Inc. ("ATP") as its investor relations consultant. The company carefully selected ATP to help increase its exposure to institutional and retail investors throughout North America and Europe. The agreement with ATP is effective August 12, 2010, is for a 12-month term, and may be terminated on a 60-day notice. ATP will be paid a monthly fee of $10,000 plus all pre-approved expenses. The Board has granted ATP 200,000 stock options priced at $0.25 per share, expiring in two years. The stock options will vest on a quarterly-basis. In accordance with the Company's stock option plan and TSX Venture Exchange Policy 4.4, these options will expire 30 days following the termination date.

In Other News:

In accordance with the Company's compensation policy and stock option plan, the Board of Directors granted 200,000 stock options to an Officer. Each stock option entitles the holder to subscribe for one common share of Majescor at a price of $0.25 per share for a five-year period expiring August 12, 2015.

Pursuant to the policies of the TSX Venture Exchange, the maximum number of shares reserved for issuance under the Stock Option Plan will be increased to 3,910,320 common shares. This increase is subject to regulatory approval.

About Majescor Resources Inc.

Majescor is a junior explorer focusing on emerging mineral districts. Majescor's project portfolio includes the Mistassini uranium property in Quebec, (100%-owned; under option to Strateco Resources Inc.) and the Besakoa, gold and base metal property in Madagascar (100%-owned; under option to Sunridge Gold Corp.).

About SIMACT Alliance Copper Gold Inc. 

 SIMACT Alliance Copper Gold Inc. ("SACG"), a private company 100% owned by Majescor, aims to promote sustainable mineral development initiatives in Haiti by creating synergies between the Canadian financial and mining communities and the North American Haitian Diaspora. SACG holds title to approximately 59.3% of the issued and outstanding common shares of SOMINE SA, a company incorporated under the laws of the Republic of Haiti. SOMINE SA's principal asset is the SOMINE copper-gold property located in the North-East mineral district of Haiti.

On behalf of the Board of Directors of Majescor Resources Inc.:

Daniel F. Hachey

President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release.

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