August 31, 2006 at 10:04 AM EDT
Majestic Gold Receives Drilling Results From Song Jiaguo

Majestic Gold Corp. ("Majestic") (TSX VENTURE: MJS) is pleased to announce drill results from the initial three diamond drill holes of its 2006 exploration program at the Song Jiaguo Project located in eastern Shandong Province, China. Majestic's program is designed to test a broad zone of potentially bulk-mineable gold mineralization and the adjacent high-grade gold bearing structures that was the subject of an independent resource estimate, released on April 25, 2006.

Highlights of the results include:


High Grade Targets:

Hole SJ06-27:
- Aggregate of intervals of 16 metres of 7.5 grams/tonne gold,
   including:
- 2.0 m of 8.08 grams/tonne gold, and
- 2.0 m of 6.58 grams/tonne gold, and
- 5.0 m of 13.86 grams/tonne gold

Hole SJ06-28:
- Aggregate of intervals of 19 metres of 3.84 grams/tonne gold
   including:
- 4.0 m of 4.39 grams/tonne gold, and
- 1.0 m of 11.70 grams/tonne gold, and
- 1.0 m of 6.75 grams/tonne gold

Hole SJ06-30:
- Aggregate of intervals of 20.8 metres of 5.43 grams/tonne gold
   including:
- 1.1 m of 10.15 grams/tonne gold, and
- 1.1 m of 14.72 grams/tonne gold and
- 1.0 m of 13.71 grams/tonne gold and
- 0.8 m of 18.30 grams/tonne gold and
- 1.0 m of 16.09 grams/tonne gold and

Bulk Mineable Targets:

Hole SJ06-27:
- 16.0 m of 1.07 grams/tonne gold, and
- 40.5 m of 1.94 grams/tonne gold, within
  - an aggregate of intervals of 184.2 metres of 0.8 grams/tonne gold

Hole SJ06-28:
- 26.0 m of 0.88 grams/tonne gold, and
- 18.9 m of 0.99 grams/tonne gold, within
  - an aggregate of intervals of 141.4 metres of 0.57 grams/tonne gold

Hole SJ06-30:
- 64.8 m of 0.84 (including 11.3 m of 2.71) grams/tonne gold, and
- 80.5 m of 0.94 (including 32.3 m of 1.77) grams/tonne gold, within
  - an aggregate of intervals of 158.9 metres of 0.84 grams/tonne gold

Assay results for these three holes are compiled in the accompanying Table 1 (see appendix A or visit www.majesticgold.net).

These holes tested approximately 100 metres of strike length in the northern end of the mineralized zone that has previously been traced for over 550 metres.

"Hole 27, drilled on the north end of the system, shows that gold mineralization is still open to the northeast; an area of soil anomalies about 250 metres further northeast of this hole will be drilled in a step-out program later this year," said John Zimmerman, Majestic's head of exploration.

Results from drill hole SJ06-29 have not yet been received. Drill hole SJ06-29 was drilled approximately 300 metres to the southwest of hole SJ06-28 in an area of broad gold mineralization identified by Majestic in underground cross cut sampling as part of last year's program.

"The area between holes SJ06-29 and SJ06-28 is currently being tested by underground drilling," said Zimmerman. "Once complete, we will have reliable data from over 500 metres of strike length and extending from surface to over 250 metres below."

All core from the 2006 drill program is logged, split, stored and shipped under the supervision of Neil Willoughby, P. Geo., Majestic's Qualified Person. Samples were stored in Majestic's local office and packaged and freighted directly, to SGS Tianjin Geochem Lab, China, for analysis. The samples were assayed using a standard six element ICP package and gold analysis was conducted by standard fire assay.

This news release was reviewed by Qualified Persons as defined by National Instrument 43-101, including Rod Husband, P. Geo., who has prepared the technical information contained herein.

On Behalf of the Board of Directors

Rod Husband, P.Geo., Director

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.



The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Contacts:
Majestic Gold Corp.
Investor Relations
(604) 681-4653 or 1-866-282-8398
info@majesticgold.net
www.majesticgold.net

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