Majescor Resources Inc.

Majescor Resources Inc.

April 18, 2007 09:33 ET

Majescor's Stake in Uranium World Energy to Become Public

MONTREAL, QUEBEC--(CCNMatthews - April 18, 2007) - Majescor Resources Inc. (the "Company") (TSX VENTURE:MAJ) is pleased to announce that the Company's investment in Uranium World Energy ("UWE"), a privately held company that was incorporated under the Business Corporations Act of Ontario, on April 6, 2006, will become public by way of a reverse take-over transaction by Merc International Minerals Inc. (TSX VENTURE:MRK). Majescor is the largest shareholder of UWE with 25% of the outstanding shares. For further details on this transaction, please see Merc International Minerals Inc. press release dated April 18, 2007.

Uranium World Energy has an 80% interest in the Baker Lake uranium project held by De Beers Exploration Canada Inc. ("De Beers"). The property is located along the eastern margin of the Thelon Basin in Nunavut, and less than 20 km south of the Kiggavik Trend which hosts significant uranium deposits. The Thelon Basin bears geological similarities to the sedimentary Athabasca basin located 300 km to the southwest. Despite this similarity, the Thelon Basin has not seen recent prospecting work for its uranium potential; most previous work was carried out in the 1970s and 1980s.

In October 2005, Majescor signed an option agreement with De Beers to acquire an interest in the diamond and uranium rights associated with 51 permits covering a total surface area of more than 9,000 km2. Two continuous claim blocks totaling 19 permits were designated for uranium exploration and form the Baker Lake uranium property.

In August 2006, UWE entered into an option agreement with Majescor whereby UWE was granted the right to acquire Majescor's uranium rights in the Baker Lake property by incurring $640,000 of exploration expenditures and issuing to Majescor 3.0 million UWE shares.

A geological compilation and analysis carried-out by MPH Consulting Ltd. of Toronto ("MPH") in the fall of 2006 resulted in the identification of high priority areas across the property and the selection of seven target blocks for deep-penetrating airborne geophysical surveying. The seven blocks were covered as part of a larger 5,992 line-km geophysical survey of De Beer's uranium and diamond permits at Baker Lake, which was completed in October 2006.

In November 2006, UWE took over from Majescor as the technical operator of the Baker Lake uranium project. The final airborne geophysical data is currently being analyzed by MPH and De Beers geophysicists in preparation for the design of the 2007 diamond and uranium exploration programs.

In other news, Majescor announces that subject to TSX approval, the Company granted a total of 1,985,000 stock options of which 800,000 have been granted to directors, 610,000 have been granted to employees, 475,000 have been granted to consultants and 100,000 have been granted to an officer of the corporation. Each stock option entitles the holder to subscribe for one common share of the company at a price of $0.28 per share for a five year period.

This press release was prepared by Marc-Andre Bernier, P. Geo., President and CEO of Majescor, who acts as the qualified person under NI 43-101.

Majescor Resources is a dynamic and well funded exploration company with uranium properties in Quebec's Otish mountains, two large uranium projects in the Nunavik region of northern Quebec, as well as a significant uranium interest in the Thelon Basin of Nunavut through its ownership position in Uranium World Energy. In addition to uranium, Majescor has the largest portfolio of diamond properties in Quebec, as well as diamond projects in the Northwest Territories, in Nunavut, and in Madagascar. Majescor has further diversified its property portfolio by recently acquiring gold and base metal properties in Quebec and in Madagascar.

The TSX Venture Exchange (TSX Venture) does not accept responsibility for adequacy or accuracy of this release.

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