Mr. Andre Audet reports

MAJESCOR RESOURCES ANNOUNCES THE ACQUISITION OF THREE NEW GOLD AND DIAMOND PROPERTIES IN QUEBEC AND UPDATES EXISTING EXPLORATION PROJECTS

Majescor Resources Inc. has map-staked a number of new properties for gold and diamonds in Quebec based on a thorough review of its exploration database. The following is a brief summary of the recent acquisitions.

• Mirabelli -- two claim blocks totalling more than 2,550 hectares were acquired in close proximity to the Radisson Road in the James Bay area. They cover the source area of anomalous gold values in till (up to 40 grains recovered from heavy mineral concentrates) samples collected over a previously unmapped probable banded iron formation identified earlier by Majescor through high-resolution airborne geophysics. The anomalous sectors are to be followed up through glacial sediment sampling as early as possible this spring, in conjunction with grassroots work on the unexplored portions of the pluri-kilometric belt;
• Laparre -- the property, located in the Otish Mountains, totals 461 hectares and covers anomalous kimberlitic indicator minerals (KIMs) counts in till. Ground follow-up is planned for the next field season;
• Nottaway -- the claim block totalling 1,899 hectares is situated roughly 105 kilometres west of the town of Matagami. It covers the probable head of a poorly defined, albeit very anomalous dispersal train of KIMs identified by RC (reverse circulation) drilling from glacial sediments. The recovery of counts of up to 300 KIMs from the basal section of the drill holes, and the significant proportion of ilmenites (up to 30 per cent) and garnets bearing fragile partial alteration mantles suggest proximity to source. A review of all available geophysical data over the property will be initiated in the near future. The higher-priority anomalies are to be tested by ground geophysics and drilling later in 2017. A number of untested magnetic anomalies are already known to be present within the project area based on earlier geophysical work.

Continuing projects

• Eastmain gold -- a grassroots exploration program was performed by Diagnos in 2016 on nine claim blocks that surround the former Eastmain gold mine in the Otish Mountains area of Quebec. A total of 148 grab samples from different lithologies, as well as 10 samples from left-in-the-field drill cores from hole DDH 33C-05-08, were sent to ALS laboratory. Although no significant gold values were encountered, some of the visited targets present favourable alteration and deserve follow-up work;
• Rupert lithium -- till sampling was carried out on transects in 2016 to follow up on distinctive lake sediment anomalies. Pegmatite was frequently visible in outcrop, and boulders showing two distinct facies (white and red pegmatite) were observed on one of the claim blocks located southwest of Whabouchi. Analytical results (ALS Labs in Val d'Or) are pending.

The technical content of this release was reviewed by Remi Charbonneau, PGeo, a qualified person as defined by National Instrument 43-101.

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