Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

September 16, 2013 14:50 ET

Majescor Resources Board and Management Changes

MONTRÉAL, QUÉBEC--(Marketwired - Sept. 16, 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:

On September 13, 2013, Mr. Daniel Hachey resigned from his positions of President, CEO, interim CFO, and Director of Majescor. As his replacement, Mr. Marc-André Bernier, Director and technical adviser to the Board, has been appointed as President and interim CEO, effective immediately. The Board would like to take this opportunity to thank Mr. Hachey's for his efforts and accomplishments on behalf of the Corporation over the past three years.

The Board also wishes to announce that Mr. Sabino Di Paola has been appointed as Chief Financial Officer of the Corporation effective immediately. Mr. Di Paola, who is a Chartered Professional Accountant, CPA, CA, and member of the Chartered Professional Accountants Ontario and Ordre des CPA du Québec, is also President and owner of Accounting Made Easy, a consulting firm which specialises in private and public junior exploration companies. He has close to a decade of experience in audit, finance and accounting while working as an auditor for international accounting firms such as PricewaterhouseCoopers and BDO Canada. This has allowed him to gain a wide variety of experience in accounting and auditing for private and public companies as well as non-profit organizations. Mr. Di Paola is involved with numerous financing and spin-out transactions and is responsible for all aspects of financial services, financial reporting, and corporate governance. He currently serves as the Chief Financial Officer of Undur Tolgoi Minerals Inc., Melkior Resources Inc., and Everton Resources Inc. which are all junior exploration companies.

The Board is currently conducting a review of its mineral exploration projects and its corporate development strategy and will provide updates with respect to these matters on a timely basis.

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.,

"Marc-André Bernier"

President & Interim 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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