Majestic Gold Announces a New Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 15, 2013) - Majestic Gold Corp. (TSX VENTURE:MJS)(FRANKFURT:A0BK1D) ("Majestic" or the "Company") is pleased to announce that five new directors have been appointed to replace five directors who resigned yesterday to facilitate an orderly reconstitution of the Board in advance of the Company's 2013 Annual General Meeting, scheduled for November 21,2013.

The Board now consists of three continuing directors, Gengshu Miao, Shaohui Chen and Michael Hibbitts, and the five new directors - Paul Reynolds, John Campbell, Shou Wu (Grant) Chen, Stephen Kenwood and Lorne Hunter. Each of the new directors other than Mr. Reynolds is "independent" under applicable policies of the Canadian Securities Administrators. Each new director other than Michael Hibbitts was proposed as a director of the Company in the information circular issued by Mr. Fan Zhong Kong on November 8, 2013. The directors who have resigned have also withdrawn their consents to stand for election or re-election at the upcoming AGM.

Majestic is also pleased to announce the re-appointment of Gengshu Miao as Chair of the Company and the appointment of Paul Reynolds as President and Chief Executive Officer. Mr. Reynolds was formerly COO of the Company and replaces Rod Husband, who resigned as President and CEO yesterday. Pursuant to a retirement agreement approved by former Board members (excluding Mr. Miao and Mr. Chen), a company controlled by Mr. Husband has received a severance payment of $1,000,000 and mutual releases were exchanged. Messrs. Berka, Wood, Mackie and Brauer also entered into mutual releases with the Company prior to their resignations.

The new Board intends to undertake a review of the management, operations, prospects and financial condition of the Company and then to develop a plan to address the challenges that are currently faced by Majestic. It will immediately take action with respect to the highest priority items, including the implementation of the changes necessary to improve production and grade at the Songjiagou Mine, the implementation of proper corporate governance practices and the reduction of G&A expenses and related party consulting fees.

Biographies of the New Directors:

Paul Reynolds

Mr. Reynolds is a Professional Geoscientist with over 25 years' experience working in Canada, the United States, Bolivia, Argentina and Guyana. He received a B.Sc. in geological sciences from the University of British Columbia in 1987. He specializes in the conception and management of mineral exploration ventures, has experience in public company management, and is financially literate. Mr. Reynolds has experience managing public companies as both a director and/or executive officer.