Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

July 14, 2011 08:30 ET

Majescor Announces Private Placement

MONTREAL, QUEBEC--(Marketwire - July 14, 2011) - Majescor Resources Inc. (TSX VENTURE:MJX) ("Majescor" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") of up to 15,000,000 units (the "Units") at a price of $0.20 per Unit for gross proceeds of up to $3,000,000. Each Unit will consist of one common share (a "Share") in the capital of Majescor and one-half of a common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one additional common share (a "Warrant Share") in the capital of Majescor at a price of $0.35 per Warrant Share. The warrants will expire 24 months from the date of issue. Majescor may accept subscriptions of an additional $500,000 to cover over-allotments. The Offering is expected to close on, or about July 28, 2011. The securities issued under the Offering will be subject to a four month hold period under applicable Canadian securities laws. The Offering is subject to TSX Venture Exchange approval.

Proceeds from the Offering will be used to advance Majescor 's SOMINE exploration project in Haiti and for general working capital.

About Majescor Resources Inc.

Majescor is a junior explorer focusing on emerging mineral districts. Majescor's project portfolio includes the SOMINE copper-gold property in Haiti (majority-held by SIMACT Alliance Copper-Gold Inc., a wholly-owned subsidiary of Majescor), the Mistassini uranium exploration project in Quebec (under joint-Venture: 40 % Majescor and 60% Strateco Resources Inc.) and the Besakoa gold and base metal property in Madagascar (100%-owned; under option to Sunridge Gold Corp.).

To find out more about Majescor Resources Inc. (TSX VENTURE:MJX), SIMACT Alliance Copper Gold Inc., the SOMINE copper-gold Property as well as the Company's Mistassini uranium and Besakoa copper/gold properties, please visit our website at www.majescor.com.

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

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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