Majescor Announces the Results of Its Annual and Special Meeting and the Granting of Options

OTTAWA, ONTARIO--(Marketwired - Nov. 2, 2016) - Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) is pleased to announce the re-appointments of Mr. André Audet and Mr. Michel Fontaine as directors of Majescor. The Company also welcomes a new director to its Board, Mr. Jacques Letendre.

The shareholders have also approved the appointment of the firm of McGovern Hurley Cunningham LLP as auditors of the Company as well as the amendment to its stock option plan.

Granting of Options:

On October 31, 2016, in accordance with the Company's compensation policy and stock option plan, Majescor's Board of Directors granted 1,500,000 stock options to Officers and Directors for a five-year period. Each stock option entitles the holder to subscribe for one common share of Majescor at a price of $0.07 per share.

Additional information about the Corporation is available under Majescor's profile on SEDAR at www.sedar.com.

Neither the 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.