Majescor Announces Delay in Filing its 2013 Annual Financial Statements

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAW 


Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX)
announces that it will not be able to file its annual financial statements,
accompanying management's discussion and analysis and related CEO and CFO
certifications for the financial year ended February 28, 2013 (collectively, the
"2013 Annual Financial Statements"), within the period prescribed for the filing
of such documents under Parts 4 and 5 of Regulation 51-102 respecting Continuous
Disclosure Obligations and pursuant to Regulation 52-109 respecting
Certification of Disclosure in Issuers' Annual and Interim Filings, namely
within 120 days of year-end, being June 28, 2013.


Majescor is currently not in a position to timely file its 2013 Annual Financial
Statements, primarily as a result of additional time required for its auditors
to complete the audit of the Company's annual financial statements.


Majescor's Board of Directors and its management are working expeditiously with
the Company's auditors, on a daily basis, to meet the Company's obligations
relating to the filing of the 2013 Annual Financial Statements. Furthermore, a
weekly meeting is held by the Company's audit committee with the auditors to
discuss the advancement of the audit and to address any issue or matters
pending. The Company expects to file the 2013 Annual Financial Statements on or
before July 26, 2013. 


As a result of the postponement in the filing of its 2013 Annual Financial
Statements, Majescor has made an application to the Autorite des Marches
financiers (the "AMF") for a management cease trade order (the "MCTO"), which
would restrict all trading in securities of the Company, whether direct or
indirect, by management of the Company. The MCTO would not affect the ability of
shareholders who are not insiders of the Company to trade their securities.
There is no certainty that the MCTO will be granted. If the MCTO is not issued
by the AMF, the applicable Canadian securities regulatory authorities could
issue a general cease trade order against the Company for failure to file the
2013 Annual Financial Statements within the prescribed time period.


The Company confirms that it intends to satisfy the provisions of the
alternative information guidelines found at sections 4.3 and 4.4 of Policy
Statement 12-203 respecting Cease Trade Orders for Continuous Disclosure
Defaults for so long as it remains in default as a result of the late filing of
the 2013 Annual Financial Statements. During the period of default, Majescor
will issue bi-weekly default status reports in the form of further press
releases, which will also be filed on SEDAR. The Company confirms that there are
no insolvency proceedings against it as of the date of this press release. The
Company also confirms that there is no other material information concerning the
affairs of the Company that has not been generally disclosed as of the date of
this press release.


About Majescor Resources Inc.

Majescor Resources Inc. is a junior explorer focusing on emerging mineral
districts. Majescor's portfolio of exploration projects includes the Besakoa
gold, base metal and graphite property in Madagascar (50%-50% joint venture with
Sunridge Gold Corp.; On April 30 2013, Majescor entered into a non-binding
Letter Agreement with Olympic Resources Ltd. ("Olympic") (TSX-V: OLA) and
Sunridge Gold Corp. ("Sunridge") (TSX-V: SGC) whereby the Company and Sunridge
agree to sell their respective 50% interest in Daraina Exploration S.A.R.L. to
Olympic) and the Mistassini uranium exploration project in Quebec (under
joint-Venture: 40 % Majescor and 60% Strateco Resources Inc.). In the Republic
of Haiti, Majescor, through its 100%-held subsidiary Simact Alliance Copper-Gold
Inc., holds a majority interest SOMINE SA, a registered Haitian Company. SOMINE
SA in turn holds 100% mineral rights to the Douvray porphyry copper-gold project
and the Faille B gold project located in the Northeast mineral district of
Haiti, near the port-city of Cap-Haitian. The Douvray and Faille B projects are
each covered by a five-year renewable Mining Exploitation Permit awarded to
SOMINE SA on December 21, 2012 and are collectively covered by a Mining
Convention executed with the State of Haiti on May 5, 2005 and valid until March
9, 2020. On January 15, 2013, Majescor published the first NI 43-101 compliant
mineral Resource estimate for the Douvray porphyry copper-gold project (Inferred
Mineral Resource of 189.5 Mt grading 0.30% Cu, 0.05 g/t Au, 1.12 g/t Ag and
23.05 g/t Mo at a base cut-off of 0.1% Cu).


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, or contact us directly at:


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.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Majescor Resources Inc.
Daniel Hachey
President & CEO
905.206.1604
613.241.7817 (FAX)
[e-mail]
www.majescor.com