Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

November 24, 2011 12:51 ET

Majescor Resources Reports Niton XRF Data for First Two Drill Holes at Douvray, NE Haiti

MONTREAL, QUEBEC--(Marketwire - Nov. 24, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Majescor Resources Inc. (" Majescor" or the " Company") (TSX VENTURE:MJX), its 100%-owned affiliate company SIMACT Alliance Copper-Gold Inc. ("SACG") and their Haitian partner SOMINE SA are pleased to report initial Niton XRF* results for two diamond drill holes, and for a soil sampling grid on their Somine porphyry copper gold and vein gold project in NE Haiti. A total of approximately 1000 meters have been drilled to date in the ongoing 10,000 m drill program. The drill program is progressing well. Samples from the first two drill holes have been submitted to Acme Analytical Laboratories, with crushing facilities in the Dominican Republic and analytical services in Chile.

Niton XRF data for the first two drill holes: The first drill hole at the Douvray porphyry copper - gold deposit encountered altered and mineralized volcanic and intrusive rocks and brecciated equivalents, with: DDH D-001: 0.565 wt.% Cu over 255 meters (from 86.5 m to 341.5 m depth), including 0.71 wt.% Cu over 189 meters. The second drill hole encountered altered and mineralized volcanic and feldspar/quartz feldspar porphyry rocks and brecciated equivalents, with: DDH D-002: 0.566 wt.% Cu over 371.1 meters ( from 15.0 m 386.6 m depth), and bottomed in mineralization at the maximum depth of the drilling rig. The top 15 m of this drill hole was rubbly, was not saw cut, and was not analyzed by Niton SRF. Gold was not analyzed with the Niton XRF but will be reported once the results arrive from the lab.

IP Survey Inversion - new targets: Reprocessing the UNDP IP survey for a substantial part of the project area has resulted in outlining significant new target areas (Fig 1). A numerical inversion of the induced polarization data was conducted by MB Geosolutions of Quecbe City. The inversion is portrayed in plan view at an intermediate depth of ~95 meters, and highlights a significant new anomaly west of Blondin and north of Douvray, in the Mt. Veron area. Rock chip samples are currently being analyzed from this area, and one drill hole is planned for this target in the Phase 1 drill program.

Niton XRF data* for soil sample grid in Faille B vein gold deposit area: Earlier drilling at Faille B (see Majescor press release 08-18-2011) intersected multiple gold-bearing quartz veins that also carry silver, copper, zinc, lead and arsenic. A total of 714 soil samples were taken in the vicinity. Each sample was sieved and the fine fractions were analyzed by Niton XRF*. The most significant values are: 10 ppm to 222 ppm arsenic, n=42; 40 ppm to 458 ppm lead, n=23; 504 ppm to 2057 ppm zinc, n=29; and 502 ppm to 2063 ppm copper n=52. The results are shown for a metals index: log(As*Pb*Zn*Cu) in figure 2, which highlights a highly anomalous NW-SE trend over 1.6 km, centered on the Faille B vein gold deposit.

Majescor management is encouraged by these results. The 3500 meter Phase 1 drill program is proceeding well, and will be followed by a 6500 Phase 2 drill program in the first half of 2012. Along with data from earlier drilling, these drill programs are designed to provide sufficient information to calculate NI 43-101 compliant indicated and inferred resources on the Douvray and Blondin porphyry copper - gold deposits; they will also test new occurrences discovered in the vicinity.

*A portable, hand-held Niton XRF analyzer is in use for soil samples and for drill core sludge (powder) samples from sawed sludge. The Niton XRF analyzed for 30 seconds per sample on homogeneous, powdered or sieved samples in plastic bags in a controlled environment at camp. The initial Niton XRF copper analyses for drill core reported here are within 5% of analyses reported for twinned drill holes from earlier drill programs (e.g., by United Nations and by St. Genevieve Resources: see Valls, 2004, and Barrie, 2009). The company recognizes that Niton XRF data for the soil samples and drill sludge data are not NI 43-101 compliant; however the company is confident these data are useful; and for the core analyses, that they correlate meaningfully with those of previous drilling.

About the SOMINE Project

The SOMINE project consists of a Research Permit covering 50 km2, the mineral rights and obligations of which have been assigned under a Mining Convention executed with the State of Haiti on May 5, 2005 and valid until March 9, 2020. SACG has also carried-out systematic soil sampling and prospecting work over four Prospecting Permits encompassing four 100 km2 areas lying to the East, South and Southeast of the permit subject to the Mining Convention. SOMINE SA has requested the conversion of the Prospecting Permits into Research Permits (50 km2 each) and has filed all technical and source documents in support of its application with the BME.

About SIMACT Alliance Copper Gold Inc. and SOMINE SA

SIMACT Alliance Copper Gold Inc. ("SACG") is a 100%-held subsidiary of Majescor. SACG is the majority shareholder of SOMINE SA, a registered Haitian corporation holding 100% of the mineral rights to the SOMINE project. SOMINE SA has designated SACG as the Technical Operator of the SOMINE project exploration program.

About Majescor Resources Inc.

Majescor Resources Inc. is a junior explorer focusing on emerging mineral districts. In addition to the SOMINE project, Majescor's project portfolio includes the Mistassini uranium exploration projects in Quebec (under Joint-Venture: 40 % Majescor and 60% Strateco Resources Inc.) the Besakoa gold and base metal property in Madagascar (50%-50% joint venture with Sunridge Gold Corp.).

C. Tucker Barrie, Ph.D., P. Geo., Vice-President Exploration, Majescor, is the qualified person for this press release in compliance with National Instrument 43-101. Mr. Barrie prepared this press release.

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

Forward-Looking Statements

This News Release may contain or refer to "forward-looking statements" which reflect Management's expectations regarding the Company's future growth, results of operations, performance and business prospects and opportunities. These statements reflect Management's current beliefs at the time of this news release and are based on information currently available to Management. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Majescor Resources inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Management's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.

The figures are available at the following link: http://media3.marketwire.com/docs/FiguresMajescor.pdf

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.

Contact Information