Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

October 22, 2014 08:30 ET

Majescor Held its Annual and Special Meeting of Shareholders on October 17th, 2014

OTTAWA, ONTARIO--(Marketwired - Oct. 22, 2014) - Majescor Resources Inc. ("Majescor" or the "Corporation") (TSX VENTURE:MJX) held its Annual and Special meeting of shareholders on October 17, 2014 in the Ottawa office. The Shareholder voting was recorded in favour as follows:

a) Directors: 99.4%
Marc-André Bernier
André Audet
Jean-Guy Lacasse
C. Tucker Barrie
b) Auditors of the Corporation: 99.9%
Raymond Chabot Grant Thornton LLP
c) Stock Option Plan: 97.9%

At the meeting, C. Tucker Barrie, Ph.D., P. Geo., assumed the role of Acting President and CEO of the company and has stepped down as Vice-President, Exploration. Marc-Andre Bernier stepped down as Acting President and CEO and remains a Director of the Corporation.

"Marc-André has been an officer and/or a director for Majescor for over 8 years and has been instrumental with the development of mineral exploration properties in the Northwest Territories, Québec, Brazil, Haiti and Madagascar. We thank him for his dedication and talented services to date, and we are fortunate to have him continue to serve the company as a director moving forward," says C. Tucker Barrie, Acting President and CEO.

The Corporation continues to evaluate business opportunities (see April 7, 2014 news release).

About Majescor Resources Inc.

Majescor Resources Inc. is a public junior resource sector company. Majescor, through its 100%-held subsidiary SIMACT Alliance Copper-Gold Inc., holds a majority interest in SOMINE SA, a registered Haitian Company. SOMINE SA in turn holds 100% mineral rights to the Douvray porphyry copper-gold project and the Faille B vein gold project located in the Northeast mineral district of the Republic of Haiti, near the port-city of Cap-Haitian. The Douvray and Faille B projects are each covered by a five-year renewable Mining Exploitation Permit awarded to SOMINE SA on December 21, 2012 and are collectively covered by a Mining Convention executed with the State of Haiti on May 5, 2005 and valid until March 9, 2020. On January 15, 2013, Majescor published the first NI 43-101 compliant mineral resource estimate for the Douvray porphyry copper-gold project (Inferred Mineral Resource of 189.5 Mt grading 0.30% Cu, 0.05 g/t Au, 1.12 g/t Ag and 23.05 g/t Mo at a base cut-off of 0.1% Cu *).

Majescor also holds a 0.5% Gross Diamond Sales Royalty (GSR) on the Braúna Diamond Project located in Bahia State, northeast Brazil, which is owned and operated by Lipari Mineração Ltda., is under development and is slated for commercial production in Q4 2015.

* Mineral resources are not mineral reserves and do not have demonstrated economic viability.

On Behalf of Majescor Resources Inc.,

C. Tucker Barrie, Acting President & CEO

To find out more about Majescor Resources Inc. (TSX VENTURE:MJX), SIMACT Alliance Copper Gold Inc. and the SOMINE copper-gold project, please visit our website at www.majescor.com.

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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