Majescor and Azimut Report Grades of Up to 0.90% U3O8 in Outcrop at West Minto, Nunavik, Quebec

Majescor and Azimut Report Grades of Up to 0.90% U3O8 in Outcrop at West Minto, Nunavik, Quebec

Majescor Resources Inc. and partner Azimut Exploration Inc. report encouraging results from their summer 2008 ground reconnaissance program at the West Minto property, Nunavik, northern Quebec. During the course of a 10-day field program, uranium mineralization was uncovered in both outcrop and in boulders across a 30-km portion of the AB claim block, with assays of up to 0.90% U3O8 (19.7 lbs/ton) in outcrop and up to 0.32% U3O8 in boulders (7.0 lbs/ton). U/Th ratios for the 55 samples assayed are considered favourable averaging 9.5 for the 55 samples assayed including one sample exceeding a ratio of 90. A map showing the distribution of the anomalous uranium-bearing samples is available on the Company’s new website at

Highlights from the 55 rock samples assayed for uranium: – 10 samples with values higher than 0.10% U3O8 – 19 samples with values higher than 0.05% U3O8

– 36 samples with values higher than 0.01% U3O8

The West Minto property covers a strong regional-scale uranium anomaly in lake-bottom sediments extending over a cumulative length of 60 km. The property lies along a major basement flexure marked by a magnetic signature which is well correlated with the uranium anomaly. A sharply defined uranium geochemical anomaly with values in excess of 100 ppm U along an almost continuous 36-km long zone forms the core axis of the property’s AB Block. Detailed airborne geophysical surveying carried out in 2007 over the AB Block delineated 71 high-priority uranium radiometric anomalies forming 17 distinct clusters.

The uranium mineralization at West Minto occurs in granites, pegmatites and granitic gneisses of the Archean Minto Lake domain within the Superior Structural Province, a north-northwest-trending heterogeneous package of mainly igneous rocks containing abundant enclaves of metamorphic rock and a narrow north-trending felsic metavolcanic unit. The property is covered by an extensive but thin veneer of till with less than 5% outcrop exposure. The mineralized floats are usually found in large, low-lying boulder fields and in felsenmeers. It is believed that the provenance of most of these boulders is proximal – generally less than 1,000 m in the up-ice direction. Of the 55 samples collected, 49 come from mineralized angular to sub-angular boulders spread across the entire property with a concentration in the southwest portion of the AB Block. Many of the anomalous uranium zones appear to be concentrated along the flanks of this felsic metavolcanic unit. The best uranium assay (0.90% U3O8) comes from a foliated pegmatitic granite outcrop with elevated concentrations of biotite.

The West Minto property comprises 952 map-designated claims covering a total surface area of 432 km2. Majescor has an option from Azimut to earn a 50% interest on the West Minto property. The Company may earn an additional 15% interest upon the delivery of a bankable feasibility study. Majescor and Azimut are targeting a Rossing-type, large tonnage, intrusion-related uranium deposits amenable to open pit mining.

All rock samples were assayed at the Saskatchewan Research Council (“SRC”) laboratory in Saskatoon, an ISO-IEC 17025 accredited facility.

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

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