Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

November 05, 2009 09:00 ET

Majescor and SACG Start Drilling at the SOMINE Copper-Gold Property in Haiti - Faille B and Grosse Veine Prospects Yield Spot Gold Values of up to 226 g/t

MONTREAL, QUEBEC--(Marketwire - Nov. 5, 2009) - Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) and partner SIMACT Alliance Copper Gold Inc. ("SACG") are pleased to report that drilling has commenced on the SOMINE copper-gold Property ("SOMINE Property") located in the North-East mineral district of Haiti. In total, this first phase of core drilling on the property will consist of 1,000 meters spread between the Faille B and Dos Rada gold and copper prospects. The SOMINE Property was last drill-tested in 1997.

Drilling on the Faille B prospect is designed to confirm the western extension of the gold mineralization outlined previously through a number of work programs completed since the 1970's. The drill program will also meet a requirement by the Haitian Bureau of Mines and Energy ("BME") for additional sub-surface testing at Faille B, as the prospect was last drilled in 1987. Work carried out by the United Nations Revolving Funds ("UNRF") between 1985 and 1987 included the core drilling of 31 holes totalling 3,186 m, the collection of 760 soil samples on grids and of 1,730 samples from many tens of trenches and pits; and two ground geophysical surveys. In 2008, SACG excavated 13 trenches to the east of the Central Zone, and eight to the west. The best results from the later campaign were obtained from the West Zone, and particularly from trenches #1, 2 and 3 which will be the focus of the current drill campaign. At Trench #2, one outcrop sample returned a spot gold grade of 226.19 g/t. Two drill holes are slated on each of the three trenches, the maximum length of the holes being of 125 m. Drilling slated for the Dos Rada prospect area, on the other hand, is meant to confirm the continuation at depth of the copper-gold mineralization observed at surface to the southeast of the Douvray and Blondin prospects. Dos Rada is located within a 10 km long by up to 3.8 km wide copper-bearing corridor defined by historical regional stream sediment, soil and rock geochemistry data on the SOMINE Property (see Majescor press release dated July 7, 2009). This northwest-trending corridor not only holds the historical Blondin and Douvray copper-gold prospects, the historical Faille B gold prospect, as well as a series of historical copper occurrences at Dos Rada, but also over one hundred new copper showings in outcrop. A map showing the location of the corridor and of the various prospects and showings is available on the Company's website at www.majescor.com.

Lastly, complete analytical results were received for the Grosse Veine prospect which was recently uncovered during the course of systematic grid prospecting work (see Majescor press release dated October 6, 2009). The showing, located 1.3 km southeast of the historical Douvray porphyry copper prospect, consists of a massive quartz vein hosting up to 20% copper-bearing minerals. As previously reported, copper mineralization is ubiquitous, but irregular in grade, across the mineralized vein. Assay results previously received from Acme Analytical Laboratories for samples collected on the quartz vein had shown copper values of up to 5.80%. The quartz vein had also been shown to contain appreciable amounts of gold, a number of the grab samples registering above 1 g/t Au, including three samples with greater than 10 g/t Au. Final gold assays for those three samples are 18.1 g/t, 33.9 g/t, and 71.3 g/t Au respectively. The Grosse Veine showing has been stripped over a 20 m by 20 m surface area and the mineralization remains open in all directions.

Marc-Andre Bernier, President and CEO of Majescor states: "In the next few weeks, work on the SOMINE Property will focus on the core drilling program and the completion of the NI 43-101 qualification report. These two components of the exploration program will provide Majescor with essential and critical information in regards to the SOMINE Property and its potential to host one or more economic copper and gold resources. In addition, Majescor is most encouraged by the results of recent laboratory analyses for rock material from a number of new and historical prospects which indicate that the SOMINE Property has a significant potential not only for copper but also for precious metals."

The SOMINE Property lies within a highly prospective Mesozoic-Cenozoic volcanic-intrusive arc trend which contains numerous epithermal gold and porphyry copper occurrences in Haiti as well as the World-Class Pueblo Viejo gold-copper mine in the adjacent Dominican Republic.

The core drilling program is being carried-out by Palo Verde Drilling LTDA of the Dominican Republic using a man-portable drill. All rock samples were submitted to Acme Analytical Laboratories ("Acmelabs") in Port-au-Prince for sample preparation and then forwarded to Acmelabs' analytical facility in Vancouver for multi-element (ICP-ES: aqua regia digestion) and precious metals (fire assay fusion with an ICP-ES finish) analysis. Standard quality control protocols were applied.

SOMINE Property

SIMACT Alliance Copper Gold Inc. holds title to 68.7% of all the issued and outstanding shares of SOMINE SA, a company incorporated under the laws of the Republic of Haiti. SOMINE SA in turn, has 100% title to the SOMINE Property.

The SOMINE Property consists of a Research Permit covering 50 km2, the mineral rights and obligations of which have been assigned under a Mining Convention executed with the State of Haiti on May 5, 2005 and valid until March 9, 2020. SACG has also carried-out systematic soil sampling and prospecting work over four Prospecting Permits encompassing four 100 km2 areas lying to the East, South and Southeast of the permit subject to the Mining Convention. SACG has requested the conversion of the Prospecting Permits into Research Permits (50 km2 each) and has filed all technical and source documents in support of its application with the BME.

The terms of the Agreement with SACG are detailed in Majescor's Press Release dated April 23, 2009.

About SIMACT Alliance Copper Gold Inc.

SIMACT Alliance Copper Gold Inc. ("SACG") is a Montreal-based private company headed by a group of Canadian financiers and Haitian-American developers. The alliance 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.

About Majescor Resources Inc.

Majescor is a junior explorer focusing on emerging mineral districts. 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.).

This press release as been prepared by Marc-Andre Bernier, P.Geo, Director of Majescor, acting as the "Qualified Person" for the Company under National Instrument 43-101.

To find out more about Majescor Resources Inc. (TSX VENTURE:MJX), SIMACT Alliance Copper Gold Inc. and the SOMINE copper-gold Property, please visit our website at www.majescor.com.

Forward-Looking Statements

This News Release may contain or refer to "forward-looking statements" which reflect Management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. These statements reflect Management's current beliefs at the time of this news release and are based on information currently available to Management. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Majescor Resources inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Management's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.

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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