Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

April 04, 2006 16:00 ET

Majescor Resources Announces Closing of $381,000 Private Placement

MONTREAL, QUEBEC--(CCNMatthews - April 4, 2006) - Majescor Resources Inc. (TSX VENTURE:MAJ) has closed a non-brokered private placement for gross proceeds of $381,000.

The offering consisted of 2,540,000 units (the "Units") at a price of $0.15 per Unit. Each Unit is comprised of one common share and one common share purchase warrant, one whole warrant will be exercisable into one common share at a price of $0.20 per share until April 4, 2008. A Finder's Fee equal to 7.0 percent of the gross proceeds was paid for a total of $26,670. As additional compensation, the Corporation issued non-transferable warrants (the "Warrants") entitling the holder thereof the right to purchase 177,800 common shares at an exercise price of $0.15 per share until April 4, 2008.

The Units and the Warrants are subject to a four month hold period expiring on August 5, 2006.

The gross proceeds of these private placements shall be used for diamond exploration on Majescor's projects and working capital.

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 VENTURE:MAJ), visit our website at www.majescor.com

This press release is available on the Majescor IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/IR/Majescor Alternatively, investors are asked to e-mail all questions and correspondence to MAJ@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.

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

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