Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

December 29, 2006 16:00 ET

Majescor Closes $880,000 Non-Brokered Private Placement

MONTREAL, QUEBEC--(CCNMatthews - Dec. 29, 2006) - Majescor Resources (TSX VENTURE:MAJ) is pleased to announce that it has closed a non-brokered private placement of flow through shares for total proceeds of $880,000 (the "Offering").

In total, Majescor issued 5,500,000 flow-through common shares at a price of $0.16 per share. The flow-through shares issued pursuant to the Offering are subject to a four month hold period expiring on April 29, 2007. A finder's fee was paid to Desjardins Securities.

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-V: MAJ), please visit our website at www.majescor.com.

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

Contact Information

  • Majescor Resources
    Todd Opalick
    Manager Investor Relations
    613-241-5333
    613-241-8632 (FAX)
    todd@majescor.com
    or
    Majescor Resources
    Marc-Andre Bernier
    President and CEO
    613-241-5333
    613-241-8632 (FAX)
    marc-andre@majescor.com