Mr. James Mackie reports

MAJESTIC GOLD CORP. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO CAD$50 MILLION

Majestic Gold Corp. has arranged a non-brokered private placement financing for gross proceeds of up to $50-million through the issuance of up to 384,615,385 common shares of the company at a price of 13 cents per share.

The company intends to use the net proceeds of the private placement to advance its strategic growth initiatives, including:

• Strategic equity investments in mining and resource opportunities;
• Investments in joint venture opportunities;
• Acquisition of mineral properties, mining companies and other strategic assets;
• Transaction costs, technical studies and due diligence activities.

Majestic believes the financing will enhance the company's financial flexibility as it evaluates growth opportunities outside its existing operating portfolio.

The company may pay finders' fees in connection with the private placement to eligible finders in accordance with applicable securities laws and policies of the TSX Venture Exchange. Finders' fees are expected to be up to 6 per cent of the gross proceeds raised from subscribers introduced by eligible finders, and may be payable in cash, common shares or such other form as permitted by the TSX-V.

Completion of the private placement remains subject to the receipt of all required regulatory approvals, including approval of the TSX-V. Securities issued pursuant to the private placement will be subject to applicable statutory hold periods under Canadian securities laws.

About Majestic Gold Corp.

Majestic Gold, a British Columbia-based company, is a low-cost junior gold producer engaged in commercial gold production in eastern Shandong province, China, with mining operations at its Songjiagou gold mines, its flagship project, and the Mujin gold project. Additional information on the company and its projects is available on SEDAR+ and on the company's website.

We seek Safe Harbor.