MJX

Majescor Resources Inc. (TSX VENTURE:MJX) ("Majescor" or the "Company")
announces a non-brokered private placement offering (the "Offering") of up to
20,000,000 units (the "Units") at a price of $0.12 per Unit for gross proceeds
of up to $2,400,000. 


Each Unit will consist of one (1) common share of the Company (a "Share") and
one (1) common share purchase warrant (a "Warrant"). Each Warrant will entitle
the holder thereof to acquire one (1) additional common share of the Company at
a price of $0.18 for a period of twenty-four (24) months following the closing
of the Offering. The Warrants are subject to an accelerated expiry if, the
published closing trade price of the common shares on the TSX Venture Exchange
Inc. (the "Exchange") is equal or greater than $0.36 for a period of 20
consecutive trading days, commencing on the day following the expiry of the four
(4) month resale restriction period in which event the Company may give the
holder a written notice and the Warrants will automatically expire, if not
exercised, 30 days after receipt of such notice. 


In connection with the Offering, the Company will pay up to 8% commission of the
gross proceeds of the Offering and may issue a maximum of 8% of non-transferable
warrants entitling the holders to acquire the same number of common shares at a
price of $0.15 per common share for a period of eighteen (18) months following
the closing of the Offering.


The net proceeds from the Offering will be used for surface work on the SOMINE
project in Haiti, the completion of NI 43-101 resource estimate and report, and
for general working capital requirements. 


All securities issued in the Offering will be subject to a four month hold
period and regulatory approval. 


The closing is expected to be on or before November 1, 2012.

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.).


To find out more about Majescor Resources Inc. (TSX VENTURE:MJX), SIMACT
Alliance Copper Gold Inc., the SOMINE copper- gold project 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.

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