Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

November 10, 2005 12:26 ET

Majescor Confirms the Presence of Abundant Indicator Minerals in a Kimberlite in Madagascar

MONTREAL, QUEBEC--(CCNMatthews - Nov. 10, 2005) - Majescor Resources Inc. (TSX VENTURE:MAJ) is pleased to report the first visual results from one of the kimberlites discovered in Madagascar.

The results come from a small sample (less than 5 kg) collected from dyke THB discovered last September (press release dated October 3, 2005). Indicator minerals are extremely abundant in the sample processed in Ottawa, at the laboratories of Overburden Drilling Management. More than 285,000 indicator minerals (visual estimate) were observed in the concentrate. Ilmenite is dominant, purplish pyrope garnet is common (more than 400 grains) and chromite is somewhat scarce (45 grains). Given the strong alteration, chrome diopside and forsterite grains are absent. A representative parcel of garnet and ilmenite grains, as well as the entire population of chromite, will be analyzed. The results should be available over the next few weeks.

A large-scale (10 x 20 km) layered mafic intrusion, the Manama massif, is present in the central part of our permits. The intrusion shows prospective petrographic facies (troctolite, pyroxenite, ultrabasic rock) for nickel-copper mineralization. Traces of sulphides (chalcopyrite and pyrrhotite) are mentioned in reports dating from the 1960s. No recent exploration using modern techniques has been undertaken on this intrusion. A reconnaissance and sampling program is scheduled for 2006.

In recent months, Majescor and its partner Madagascar Mining Development (MMD) have acquired additional permits to consolidate their land position. These permits host a corundum deposit (sapphire, ruby) from which several tonnes have already been mined. Corundum was occasionally recovered by Majescor in concentrates while searching for indicator minerals.

Andre Audet states: "The presence of abundant indicator minerals in dyke THB is a criterion favourable for the presence of diamonds. It proves that the magma carried numerous mantle-derived xenocrysts. Diamond is itself a mantle xenocryst. The discovery of diamonds in this area at the turn of the last century, and the presence of kimberlite bearing abundant indicator minerals is probably not a coincidence. We are anxiously awaiting the results of microprobe analyses and caustic fusion to better estimate the diamond potential of the area.

Majescor intends to take advantage of the presence of other deposit types on its permits to better develop its properties in Madagascar. The island is known for its mineral wealth, namely in precious stones (including sapphire and ruby) and nickel-copper. These commodities are already being mined (Ilaka sapphire deposit) or are the subject of feasibility studies (Ambatovi Ni-Cu project). Madagascar is an under explored country. We believe it holds great mining potential".

Jacques Letendre, Professional Geologist, is responsible for the conduct and design of the company's exploration program on the property.

About the Company:

Majescor is an exploration company with a large portfolio of diamond properties in Quebec, as well as projects in Nunavut, the Northwest Territories, Brazil and Madagascar.

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

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