Majescor and Azimut Identify Anomalous Uranium Corridor at South Rae: Multiple Uranium Showings with Scintillation Readings of 10,000 to 47,000 CPS

Majescor Resources Inc. (TSX VENTURE: MAJ), the operator of the project and partner Azimut Exploration Inc. (TSX VENTURE: AZM) are pleased to report that reconnaissance exploration at their South Rae uranium property in Nunavik, northern Quebec has uncovered a significant trend of pegmatite-hosted uranium mineralisation within the 65 km-long geochemical uranium anomaly which forms the core of the massive 959 km2 property. Multiple uranium showings as determined by total scintillation readings of 10,000 to 47,000 counts per second (Radiation Solution ® RS-120) and confirmed by spectrometer readings (SAIC ® Exploranium GR-135G Plus) define 2 open-ended 8 km-long prospective corridors. Secondary uranium minerals are readily visible in the mineralised bedrock along fracture planes and primary uraninite crystals have been identified as fine-grained disseminations. Confirmation by microprobe analysis is pending.

Marc-Andre Bernier, President and CEO, states: "We are very encouraged with the early positive exploration results coming out of South Rae in relation to the district-scale geochemical uranium anomaly which is the focal point of the property. With less than 10% of South Rae prospected to date, there is good potential for the discovery of additional mineralized zones elsewhere on the property. We anticipate that the results from the 5,195 line-km Geo Data Solutions airborne geophysical survey scheduled to be completed by mid-September, together with property-wide high-density lake-bottom sediment geochemical sampling will generate additional anomalies for ground follow-up and will further establish South Rae's uranium potential".

The 2007 exploration program at South Rae was designed to identify and delineate Rossing-type uranium mineralisation in relation to a series of high priority, district-scale uranium anomalies in lake-bottom sediments distributed across the property's six claims blocks. This first phase of exploration on the property utilized a combination of airborne geophysics, high-density lake bottom geochemical sampling and prospecting.

The first round of ground exploration at South Rae started on August 6 and was completed by August 25. IOS Services Geoscientifiques Inc. ("IOS") of Chicoutimi, Quebec is managing the exploration program. IOS has developed an expertise on the styles and structural settings of uranium mineralisation in the Ungava Bay region which helped to fast-track the discovery of uranium mineralisation on the ground. IOS performed the field work during the initial prospecting program on the nearby North Rae property in 2006 and is the current manager of exploration on behalf of Azimut and NWT Uranium Corp.

The South Rae property is located about 80 km south of the North Rae property, where during the 2006 reconnaissance program, more than 20 radioactive zones and related uranium occurrences grading of up to 0.59% U3O8 were discovered in an area measuring 32 by 43 km. The maximum scintillation reading on the North Rae property during the 2006 survey was 28,000 counts per second. Since the start of field exploration this year, three large radioactive targets have been identified for trenching, while other targets are being evaluated with core drilling. Uranium mineralization at North Rae is reported to be hosted by pegmatitic, granitic and gneissic lithologies.

On the George River property to the southeast of South Rae, Freewest Resources Canada reported finding four new uranium zones, including the Stewart Lake trend where grades up to 0.45% U3O8 were recorded in surface samples. The George River property lies on-trend with the district-scale lake bottom sediment uranium anomaly on South Rae.

This press release was approved by Zoran Madon, P.Geo., Exploration Manager for Majescor, acting as the "Qualified Person" for the Company under National Instrument 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 district 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 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.

Contacts: Majescor Resources Inc. Maureen Doherty Manager, Corporate Communications 613-241-5333 613-241-8632 (FAX) maureen@majescor.com Capital Capital Inc. Todd Opalick 613-241-5333 613-241-8632 (FAX) todd@majescor.com Majescor Resources Inc. Marc-Andre Bernier President & CEO 613-241-5333 613-241-8632 (FAX) marc-andre@majescor.com www.majescor.com