Majescor Outlines High-Priority Uranium Targets at Baker Lake, Nunavut: Ground Follow-up Program to Start in September

MONTREAL, QUEBEC, Aug 05 (MARKET WIRE) --
Majescor Resources Inc. ("Majescor") (TSX VENTURE: MAJ) is pleased to
report the results from the reprocessing of proprietary geophysical data
from a 6,302 line-km airborne magnetic, electromagnetic and gamma-ray
spectrometric survey flown in 2006 across portions of the Company's
100%-owned Baker Lake uranium property. The Baker Lake property is
located in the East Thelon basin area of Nunavut. Majescor acquired 100%
of the mineral rights on the property from De Beers Canada Inc. in June
2008 (see Majescor press release dated June 19, 2008).

A total of 2,394 discrete radiometric anomalies(1) ranging up to 11.95
ppm U and forming 74 clusters of anomalies were defined over four survey
blocks. "High-Priority" (2) uranium radiometric anomalies have been
outlined in all four blocks. The strongest of these are recorded in the
South block, host to nine out of ten of the property's historical uranium
in bedrock showings, including the JB/79 Showing (6.71 m of 0.13% U3O8).
Of particular interest, only two of the known uranium showings have a
corresponding airborne radiometric anomaly, suggesting potential for a
number of additional uranium discoveries. Based on government surficial
sediment distribution maps, a large proportion of the high-priority
anomalies are interpreted to lie on bedrock-dominated terrain.

Highlights

- South Block: 33 clusters of uranium anomalies identified, nine of which
contain "high-priority" (2) uranium targets for follow-up investigation.

- North Block: 15 clusters of uranium anomalies identified, four of which
contain "high-priority" uranium targets for follow-up investigation.

- East Block: 11 clusters of uranium anomalies identified, nine of which
contain "high-priority" uranium targets for follow-up investigation.

- West Block: 15 clusters of uranium anomalies identified, five of which
contain "high-priority" uranium targets for follow-up investigation.

(1) An anomaly is defined as a radiometric value equal or greater than
the mean of individual survey uranium radiometric readings + 2 standard
deviations

(2) A "high-priority" anomaly (or target) is defined as a radiometric
value equal or greater than the mean of individual survey block
radiometric readings + 3 standard deviations

The Baker Lake property lies 30 km to the South of the Kiggavik group of
uranium deposits held predominantly by Areva Resources Canada Inc. The
property's geological setting is considered favourable to host
Kiggavik-style uranium deposits associated with fault zones in off-basin
basement rocks. In 2007, a structural study of the Baker Lake property
and surrounding area using high resolution satellite imagery identified
four priority areas within the property for uranium exploration.

Majescor is committed to moving the Baker Lake uranium project forward.
To this effect, the Company has undertaken a comprehensive review and
analysis of previous exploration results on the property in view of
prioritizing targets for ground follow-up. A focused ground exploration
program on the property is scheduled to start in September. This program
will aim to investigate a number of the "high priority" remotely sensed
uranium targets (geophysical targets defined by consultant MB
Geosolutions of Quebec-City; satellite imagery structural targets
outlined by consultant Terrageos of Montreal) and of the numerous
mineralized bedrock, boulder and soil geochemistry targets listed in a NI
43-101 compliant report completed on the uranium property in 2007.

In other news, the Company has applied to the TSX Venture Exchange in
order to issue common shares to SIDEX corresponding to the interest
payment relating to the $150,000 unsecured convertible debenture private
placement announced on January 22, 2007. The term of the unsecured
convertible debenture is 36 months with a nominal interest rate of 12%,
payable twice a year in cash or in shares.

Investors are also invited to visit the new Majescor Resources website at
the following address: www.majescor.com. It is a valuable source of
relevant information concerning the Company and its projects.

Majescor is a dedicated uranium explorer focusing on emerging uranium
districts. In addition to the Baker Lake property, Majescor's project
portfolio includes four uranium exploration projects in Quebec: South Rae
and West Minto (under option from Azimut Exploration Inc.); Mistassini
(100%-owned; under option to Strateco Resources Inc); and Lac Laparre
(100%-owned; under option to Santoy Resources Inc. and Otish Energy
Inc.). All four Quebec projects will undergo systematic ground
exploration in 2008 with the aim of testing high-priority geophysical,
geochemical and/or prospecting targets outlined in 2007.

This press release was approved by Jacques Letendre, P.Geo, Director of
Majescor, acting as the "Qualified Person" for the Company under National
Instrument 43-101.

To find out more about Majescor Resources Inc. (TSX VENTURE: MAJ), please
visit our website at www.majescor.com.

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

Contacts:
Majescor Resources Inc.
Marc-Andre Bernier
President & CEO
613-241-5333
613-241-8632 (FAX)
marc-andre@majescor.com

Majescor Resources Inc.
Maureen Doherty
Manager, Corporate Communications
613-241-5333
613-241-8632 (FAX)
maureen@majescor.com
www.majescor.com

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