Majescor Announces the Closing of the 1st Tranche of a Non-Brokered Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN


Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) has
revised the terms of its non-brokered private placement offering (the
"Offering") announced October 16, 2012, as follows:


The Offering consists of up to 25,000,000 units (the "Units") at a price of
$0.09 per Unit for gross proceeds of up to $2,250,000. 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 $0.15 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 $0.30 for a period of 20 consecutive trading days any time
after 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 $0.12 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 and for general working capital requirements.


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


On January 18, 2013, Majescor completed the 1st tranche of its private placement
by issuing 2,500,000 units for gross proceeds of $225,000. All securities issued
in this private placement are subject to a four month hold period expiring on
May 19, 2013. 


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-V: 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Daniel Hachey, President & CEO
Majescor Resources Inc
dan@majescor.com
905.206.1604
613.241.7817 (FAX)
www.majescor.com
Majescor Resources Inc. (TSXV:MJX)
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