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Majestic Gold Corp

Friday, October 19th, 2007

Majestic Gold Corp. is pleased to announce it has received final results from the revised National Instrument (NI) 43-101 resource estimate on its Song Jiagou project, located in the Shandong Province of eastern China. The revised estimate increases the Song Jiagou resource by 285 percent to 1,174,460 ounces of gold from 413,900 ounces (Majestic news release April 26, 2006).
Included in the revised resource estimate are indicated 8,007,999 tonnes at 1.668 grams of gold per tonne (g/t) (429,497 ounces) and inferred 18,142,799 tonnes at 1.277 g/t (744,963 ounces), using a 0.5 gram per tonne cut-off based on an inverse distance squared interpolation. This brings the total gold resource within Majestic’s joint venture projects to 2.7 million ounces, including its 1,519,137 ounce Sawayaerdun deposit in Xinjiang Province in western China (May 17, 2006, news release). A total of three statistical methods were used to calculate the resource and each produced similar results as shown in below:
Song Jiagou Revised Resource Estimate at 0.5 g/t Cut-Off
Calculation Method, Category, Tonnes(t), Ounces(oz), Grade(g/t)
Inverse Distance Indicated 8,007,999 429,497 1.668
Squared Interpolation Inferred 18,142,799 744,963 1.277
Kriged Method Indicated 8,780,199 412,754 1.462
Inferred 18,186,999 736,252 1.259
Nearest Neighbour Indicated 6,705,399 423,453 1.964
Inferred 17,685,199 784,745 1.380
“We are pleased to see the gold resources are consistent with our expectations for the property,” says Rod Husband, P.Geo., President of Majestic Gold Corp. “In the coming months we intend to move towards production at our Song Jiagou project and this resource estimate reinforces our belief this deposit is a candidate for a bulk tonnage open pit operation.”
The Company’s current 2007 exploration program includes metallurgical studies and an underground and surface bulk sampling and processing program planned to commence in late 2007. These studies will provide information on mining, processing and economic parameters for a pre-feasibility study planned for the Song Jiagou project in mid-2008.
The program also includes trenching, drilling, and sampling of underground drifts and stopes from the existing underground mine at the property designed to provide additional information for a revised resource estimate that will be included in the pre-feasibility report.
The revised resource estimate was produced in accordance with National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum standards on mineral resources and mineral reserves definitions and guidelines by an independent third party, Wardrop Engineering Inc, Greg Z. Mosher P.Geo. The data used was collected by Majestic in its 2004, 2005 and 2006 exploration programs in addition to data collected by joint venture partner Shandong Yantai Muping Gold Mine (“Muping Mining”) and totaled 14,881 gold assays.

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