Majescor Resources Inc.

Majescor Resources Inc.

October 19, 2006 09:16 ET

Majescor's Surface Sampling of the Besakoa Polymetallic Prospect in Madagascar Returns Grades of Up to 17.5 g/t Gold, 47 g/t Silver, 30% Copper and 3% Zinc

MONTREAL, QUEBEC--(CCNMatthews - Oct. 19, 2006) - Majescor Resources Inc. ("Majescor") (TSX VENTURE:MAJ) is pleased to announce that it has received the final results from the reconnaissance survey conducted in September 2006 on its Besakoa gold and base metal prospect, located in southern Madagascar.

A total of 49 grab rock samples and 6 quality control samples were collected from surface exposures during the survey. The analytical results confirm the presence of anomalous gold, silver and copper values over a minimum 700m strike length at the main Besakoa prospect, with 32 grab samples out of the 49 collected assaying above 0.1 g/t gold, 1 g/t silver and 0.1% copper.

Out of the 32 anomalous samples, 7 returned values in excess of 0.5 g/t gold and 5 g/t silver, including sample BSKR-10, which assayed 17.5 g/t gold and 9.8 g/t silver, and sample BSKR-21 which contained 1.9 g/t gold and 9.8 g/t silver. Both surface rock samples also showed highly anomalous copper values of 20.7% and 11.9% respectively, and contained visible malachite. Two more samples yielded greater than 3% copper: BSKR-7 with 30.4% copper (the highest copper value of the survey); and BSKR-12 with 3.4% copper and 3.0% zinc (the highest zinc value of the survey). Sample BSKR-12 also scored the second highest silver assay of the survey, 24.1 g/t Ag, the highest silver value of 47.1 g/t Ag being recorded in sample BSKR-14.

Majescor's Chairman, Andre Audet, states: "We are exited by the initial sampling results from our Besakoa prospect which improve upon the historical data collected in the 1950's and suggest the presence of a near-surface oxide zone enriched in gold and copper. Our up-coming core drilling program at Besakoa in November will focus exclusively on the near-surface portion of the prospect which has never been tested."

The Besakoa prospect is a historical volcanogenic massive sulfide occurrence with compositional similarities to the Bisha polymetallic deposit in Eritrea held by Nevsun Resources Ltd. The Besakoa property holds a series of sulphide occurrences which have never been fully investigated. The property was last explored over 40 years ago. A map showing the location of the Besakoa prospect as well as a table of results is available on the Company's Website at: .

All samples, including field duplicates and blanks, were submitted to ALS-Chemex laboratories in Johannesburg, South Africa for trace element analysis using ICP-AES. Samples with gold values greater than 10 ppm were reanalyzed for total gold by fire assay.

This press release was prepared by Marc-Andre Bernier, P. Geo., geologist, who is a "Qualified Person" as defined under National Instrument NI 43-101.

Majescor is an aggressive exploration company with the largest portfolio of diamond properties in Quebec, as well as projects in Nunavut, the Northwest Territories, Brazil and Madagascar. Majescor has also acquired gold and base metal properties in Quebec and Madagascar.

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

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