Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

October 30, 2009 16:53 ET

Majescor-Filing of Second Quarter Financials

MONTREAL, QUEBEC--(Marketwire - Oct. 30, 2009) - Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) announces that it has filed its second quarter financials. The loss during the quarter was $957,291. Further to management's review of its resource properties' carrying value, the costs of the Baker Lake property in Nunavut and the Mirabelli property in Quebec were written-down to nil. Majescor does not intend to renew the remaining claims on these properties. The total of the write-down was $808,784.

Majescor is a junior explorer focusing on emerging mineral districts. Other than Majescor's 10% equity position in SIMACT Alliance Copper Gold Inc. ("SACG") with an option to acquire the remaining 90% interest in the Somine property with both gold and copper potential which is located in the North-East mineral district of Haiti, Majescor's project portfolio includes two uranium exploration projects in Quebec: Mistassini (100%-owned; under option to Strateco Resources Inc.) and Lac Laparre (100%-owned; under option to Virginia Energy Resources Inc.). In addition to uranium, Majescor owns 100% mineral rights to four gold and base metal properties in Madagascar (under option to Sunridge Gold Corp.).

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

Neither the TSX Venture Exchange (TSX Venture) 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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