Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

March 20, 2009 16:00 ET

Majescor Closes Second Private Placement

MONTREAL, QUEBEC--(Marketwire - March 20, 2009) - Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) is pleased to announce the closing of a non-brokered private placement offering (the "Offering") for gross proceeds of $50,000. (See Majescor press release dated February 17th, 2009)

The Offering consisted of the issuance of 500,000 Units (the "Units") at a price of $0.10 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant which entitles the holder to acquire one additional common share of the Company at a price of $0.13 for a period of 24 months following the closing of the Offering. Directors of the Company participated in the private placement subscribing for 300,000 Units for $30,000. All securities issued in the Offering will be subject to a four month hold period from the closing date of the Offering ending on July 21, 2009. Completion of this private placement is subject to final acceptance of the TSX Venture Exchange.

The funds raised pursuant to the Offering will be used to fund the Company's general working capital requirements.

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

Marc-Andre Bernier, President, CEO and Director

Forward-Looking Statements

This News Release includes certain "forward-looking statements" which reflect management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. This news release also contains forward-looking statements regarding the Company's use of proceeds from the Offering. 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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