Majescor Resources Inc.
TSX VENTURE : MJX

Majescor Resources Inc.

August 17, 2006 09:09 ET

Majescor's Initial Surface Sampling of Daraina in Madagascar Returns Grades of up to 87 G/T Gold and 75 G/T Silver

MONTREAL, QUEBEC--(CCNMatthews - Aug. 17, 2006) - Majescor Resources Inc. ("Majescor") (TSX VENTURE:MAJ) is pleased to announce it has received the results from the reconnaissance survey conducted in May 2006 on its Daraina project, Madagascar.

In total, 31 surface rock, 20 stream sediment and 72 soil samples were collected during the survey. The results confirm the presence of anomalous gold and silver values in both rock and stream sediments at Daraina.

Six of the thirty-one rock samples returned gold and silver grades in excess of 1 g/t, including samples DARR-020, which ran 87.1 g/t Au and 21 g/t Ag and DARR-018 which contained 1.1 g/t Au and 75 g/t Ag.

Three of the twenty heavy mineral concentrates extracted from 10-litre stream sediment samples (DARST-003, 001 and 019) show anomalous gold grades of 27.3 g/t Au, 31.2 g/t Au and 35.9 g/t Au, respectively. Gold particles were also detected in the stream sediment samples panned on-site.

All samples, including field duplicates and blanks, were submitted to ACME Laboratories of Vancouver for major and trace element analysis using ICP-MS. Samples with gold values greater than 0.75 g/t Au were reanalyzed for total gold and silver by fire assay.

The Daraina region is host to a series of historical visible gold and geochemical copper anomalies in stream sediments outlined during regional surveying by the Madagascar geological survey. The area was also the subject to a small gold rush episode in the early 1990's, subsequent to which numerous alluvial gold occurrences were identified by local miners. Artisanal gold mining activities are still ongoing in the central part of the permit.

Majescor's Daraina property consists of two exploration licenses covering 12.5 square kilometers in the Antsiranana province of northeastern Madagascar. The property was acquired by Majescor in January 2006 (see press release, January 11 2006) in exchange for a small cash payment to the permit holder and the right to perform exploration and assessment work on the property.

Majescor's President and CEO, Marc-AndrT Bernier, states: "We are encouraged by the initial exploration results from our Daraina gold project and we intend to complete the purchase transaction with the permit holder shortly. Daraina is now secured through our recent acquisition of the surrounding Daraina-extension property (see press release, July 27 2006) which increases our total contiguous land holdings in the area to 33,125 hectares of Precambrian terrain prospective for gold and copper. The Daraina region has never been investigated using modern exploration methodologies and little is known about the styles of gold and base metal mineralization. We plan to implement a comprehensive exploration program at Daraina in 2007 which will include high density stream sediment geochemical sampling as well as the processing and interpretation of raw government airborne geophysical data to become available by year end."

This press release was prepared by Pascal Marchand, P. Geo., project geologist, who is the "Qualified Person" for this project under National Instrument 43-101.

About the Company:

Majescor is an exploration company with a large portfolio of diamond properties in Quebec, as well as projects in Nunavut, the Northwest Territories, Brazil and Madagascar.

To find out more about Majescor Resources Inc. (TSX-V: MAJ), visit our website at www.majescor.com

This press release is available on the Majescor IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/IR/Majescor. Alternatively, investors are asked to e-mail all questions and correspondence to MAJ@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.

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