Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

January 31, 2011 23:55 ET

Majescor Sends Notice of Claim

MONTREAL, QUEBEC--(Marketwire - Jan. 31, 2011) - Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX), announces that it has sent a Notice of Claim to former shareholders ("Vendors") of SIMACT Alliance Copper Gold ("SACG") pursuant to the share purchase agreement dated July 27, 2010 ("the "SPA"), between Majescor, SACG and the Vendors. Majescor is withholding a portion of the escrowed payment shares of Majescor, which were to be released to certain Vendors on January 27, 2011, pending the resolution of issues related to SOMINE SA, a registered Haitian corporation (approximately 62% - owned under SACG, a wholly-owned subsidiary of Majescor), and to the damages caused by the conduct of such Vendors.

Majescor is considering the exercise of recourse against such Vendors but remains optimistic that a positive resolution to the current situation is attainable in the short term. However, no commitment regarding such can be made with great certainty at this time. Majescor will endeavor to keep investors informed of any developments regarding this matter on a timely basis.

On behalf of Majescor Resources Inc. Board of Directors.

Forward Looking Statements Disclaimer

Forward Looking Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Such statements can typically be identified by terminology such as "may", "will", "could", "should", '"expect", "plan", "anticipate", "believe", "intend", "possible", "continue", "objective"or other similar expressions concerning matters that are not historical facts. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Majescor does not undertake to update any forward-looking statements; such statements speak only as of the date made.

Neither the 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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