Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

July 05, 2011 08:30 ET

Majescor Increases Its Position in Haitian Subsidiary

MONTREAL, QUEBEC--(Marketwire - July 5, 2011) - Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) is pleased to announce that, through its wholly-owned subsidiary SIMACT Alliance Copper Gold Inc. ("SACG"), it has agreed to acquire from an individual investor 13,000 voting shares of Société Minière du Nord-Est, S.A. ("SOMINE"), a company constituted under the laws of Haiti, in exchange for 275,000 common shares of the Corporation and a sum of $25,000. SACG presently holds 63.3% of the voting shares of SOMINE.

With this transaction, Majescor, through SACG, will exercise control over 65.5% of SOMINE's voting shares. "As the SOMINE project is Majescor's major focus property, we are pleased to continue to invest in the advancement of the project. We are gratified with the efforts of SOMINE's management and look forward to the commencement of drilling under the supervision of the Buscore team.", declared Dan Hachey, President and Chief Executive Officer.

The transaction is subject to regulatory approval. The securities to be issued in connection with this transaction will be subject to a regulatory 4 month hold period from their date of issuance.

About Majescor Resources Inc.

Majescor is a junior explorer focusing on emerging mineral districts. Majescor's project portfolio includes the SOMINE copper-gold property in Haiti (majority-held by SIMACT Alliance Copper-Gold Inc., a wholly-owned subsidiary of Majescor), the Mistassini uranium exploration project in Quebec (under joint-Venture: 40 % Majescor and 60% Strateco Resources Inc.) and the Besakoa gold and base metal property in Madagascar (100%-owned; under option to Sunridge Gold Corp.).

To find out more about Majescor Resources Inc. (TSX VENTURE:MJX), SIMACT Alliance Copper Gold Inc., the SOMINE copper-gold Property as well as the Company's Mistassini uranium and Besakoa copper/gold properties, please visit our website at www.majescor.com.

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

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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