Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

November 06, 2006 16:00 ET

Majescor Closes $640,000 Non-Brokered Private Placement

OTTAWA, ONTARIO--(CCNMatthews - Nov. 6, 2006) - Majescor Resources (TSX VENTURE:MAJ) is pleased to announce that it has closed a non-brokered private placement of flow through shares with the Mavrix Group of Toronto for total proceeds of $640,000 (the "Offering").

In total, Majescor issued 4,000,000 flow-through common shares at a price of $0.16 per share. The funds will be allocated to the exploration of the Mirabelli property in Quebec recently optioned from De Beers Canada Exploration Inc. (see 2006-09-25 press release). The flow-through shares issued pursuant to the Offering are subject to a four month hold period expiring on March 3rd, 2007.

Majescor Resources is an aggressive exploration company with the largest portfolio of diamond properties in Quebec, as well as projects in Nunavut, the Northwest Territories, Brazil and Madagascar. Majescor has also recently acquired new gold and base metal properties in Quebec and Madagascar.

To find out more about Majescor Resources Inc. (TSX VENTURE:MAJ), visit our website at www.majescor.com.

The TSX Venture Exchange (TSX Venture) does not accept responsibility for adequacy or accuracy of this release

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