Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

December 13, 2011 08:00 ET

Majescor and SOMINE Report 0.56% Cu Equivalent(i) Over 231 Metres in First Drill Hole at Douvray, Northeast Haiti

MONTREAL, QUEBEC--(Marketwire - Dec. 13, 2011) -

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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 final assay results for drill hole D-001 on their SOMINE porphyry copper-gold and vein gold project in Northeast Haiti:

Drill hole D-001 is located in the southwest part of the Douvray copper - gold deposit, and was drilled to a depth of 359.0 meters (azimuth 250°, dip -70°), with the following results:

  • From 77.5 m to 308.5 m: 231 metres grading 0.50 wt.% Cu, 1.47 g/t Ag, 0.06 g/t Au, or 0.56 wt.% Cu equivalent*;
  • including from 103.0 - 200.5 m: 96.5 metres grading 0.83 wt.% Cu, 2.66 g/t Ag, 0.10 g/t Au, or 0.92 wt.% Cu equivalent*.

In addition, a near-surface oxide zone has: from 0 - 10.5 metres: 0.14 wt.% Cu, 26.7 g/t Ag or 0.46 wt.% Cu equivalent*.

* Cu equivalent calculated using US$3/lb Cu, US$25/oz Ag, US$1200/oz Au.

The sulphide mineralogy comprises chalcopyrite, bornite and pyrite. The gold and silver assays in the sulphide zone are significant, given that the exploration target is a 200+ million tonne deposit amenable to surface mining. The assays for copper and silver in the oxide zone are also important, as there is potential for an oxide resource at Douvray (see Majescor press release dated September 13, 2011).

The 3,500 metre Phase 1 drill program for the SOMINE project is proceeding well, and will lead into a 6,500 metre Phase 2 drill program in the first quarter of 2012. The Niton™ XRF core cuttings (or core saw sludge) analytical program is providing geologists on site with preliminary data to assist with core logging and for initial interpretation. A statistical comparison between the Niton data and the laboratory data for this drill hole is underway and will be posted on the Majescor website in due course. The assay data reported here are comparable to results from a previous drill hole from a campaign by St. Genevieve Resources in the 1990s. These data are being evaluated by independent qualified person Jamie Lavigne, P. Geo., to determine the suitability of the earlier drilling for inclusion in initial NI 43-101 compliant resource estimates for the Douvray porphyry copper gold deposit.

Core samples from the SOMINE Project are cut in half using a rock saw. The half samples are sent to Acme Labs' sample preparation and expediting facility in the Dominican Republic (www.acmelab.com). All analytical work is performed at Acme's laboratory in Santiago, Chile. All samples are analyzed by G601 and 1D01 methods. Any samples registering >1 wt % Cu is reanalysed using a four-acid total digestion by ICP-ES (Code 8TD-Cu). Acme Labs is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Quality control protocols in place by Majescor (the operator of the SOMINE project) consist of the insertion of one blank, one reject duplicate and one of three different certified reference standard material in every batch of 20 samples. Core recovery in the mineralized zones has been averaging greater than 90% to date.

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 programme.

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 Property 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.

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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