Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

August 21, 2013 18:43 ET

Majescor Resources Board and Management Changes

MONTRÉAL, QUÉBEC--(Marketwired - Aug. 21, 2013) -

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Majescor Resources Inc. ("Majescor" or the "Corporation") (TSX VENTURE:MJX) announces the following changes to its Management and Board of Directors, which are effective immediately:

Mr. André Audet joins the Board of Directors of the Corporation. Mr. Audet is the current President, CEO and Chairman of Everton Resources Inc. and is a past President, CEO and Chairman of Majescor. Prior to forming Majescor in 1999, Mr. Audet was a Vice-President at BMO Nesbitt Burns where he specialized in private portfolio and mining investments. Mr. Audet graduated with a Bachelor of Commerce degree (Major in Finance) from the University of Ottawa in 1982. Mr. Audet possesses more than twenty-five years of experience in the management and financing of public junior mining companies.

Mr. Daniel Hachey, President, CEO and Director has been appointed by the Board to ttake on the additional role of Chief Financial Officer (CFO) on an interim basis until the next annual shareholder's meeting. Mr. Hachey replaces Ms. Khadija Abounaim who stepped down as CFO of the Corporation on August 16. The Board wishes to express its sincere appreciation for Ms. Abounaim's efforts and accomplishments on behalf of the Corporation over the past 9 years.

Mr. Marc-André Bernier, P.Geo., Director and technical adviser to the Board has been appointed as Chair of the Audit Committee and as Corporate Secretary on an interim basis until the next annual shareholder's meeting.

About Majescor Resources Inc.

Majescor Resources Inc. is a junior explorer focusing on emerging mineral districts. Majescor's portfolio of exploration projects includes the Besakoa gold, base metal and graphite property in Madagascar (50%-50% joint venture with Sunridge Gold Corp.; On April 30 2013, Majescor entered into a non-binding Letter Agreement with Olympic Resources Ltd. ("Olympic") and Sunridge Gold Corp. ("Sunridge") whereby the Company and Sunridge agree to sell their respective 50% interest in Daraina Exploration S.A.R.L. to Olympic) and the Mistassini uranium exploration project in Quebec (under joint-Venture: 40 % Majescor and 60% Strateco Resources Inc.). In the Republic of Haiti, Majescor, through its 100%-held subsidiary Simact Alliance Copper-Gold Inc., holds a majority interest 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 gold project located in the Northeast mineral district 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).

On Behalf of Majescor Resources Inc.,

Daniel Hachey, President & CEO

To find out more about Majescor Resources Inc. (TSX VENTURE:MJX), SIMACT Alliance Copper Gold Inc., the SOMINE copper- gold project as well as the Company's Mistassini uranium and Besakoa copper/gold properties, 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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