Temporary Government Closure of Shandong Province GOLD Mines Pending Cautionary Safety Inspections
TEMPORARY GOVERNMENT CLOSURE OF SHANDONG PROVINCE GOLD MINES
PENDING CAUTIONARY SAFETY INSPECTIONS
Vancouver, British Columbia – March 1, 2021 - Majestic Gold Corp. (“Majestic” or the “Company”)
(TSX.V: MJS, FSE: A0BK1D) reports that further to the Company’s news release of January 27, 2021, the
provincial government in Shandong has mandated the closure, effective immediately, of all non -coal
operations in the province following a second major mine accident that occurred in the region. An
underground fire at the Caojiawa underground gold mine in Xiadian town of Zhaoyuan city took the lives
of six workers on February 24, 2021. Xiadian is about 90 kilometres west of Majestic’s Songjiagou open pit
and underground operations.
Following the recent fatal accident at the Hushan Gold Mine in January of this year, the provincial and city
governments had rolled out a provincial wide program to inspect all underground gold mines in Shandong
and mandate compliance with provincial safety standards. This second mine accident has focused the
investigations and has resulted in more stringent measures in an attempt to curtail any kind of p otential
accidents in the future . The government intends to have the inspections of all operating non -coal mines
completed by the end of March 2021.
Majestic has operated the Songjiagou open pit gold mine accident free since production commenced in 2011
and has also been accident free at its underground operation since production began there in 2018. The
Company again confirms that its safety permits for both its underground and open pit mines are valid until
September 1, 2022 and March 1, 2023 respectively.
About Majestic Gold
Currently focused solely in China, Majestic Gold Corp. is a British Columbia based company engaged in
commercial gold production at the Songjiagou Gold Mine in eastern Shandong Province, China. Additional
information on the Company and its projects is available at www.sedar.com and on the Company’s website
at www.majesticgold.com.
For further information, please contact:
Stephen Kenwood, P.Geo., President and CEO
Telephone: (604) 560-9060
Email: [email protected]
Website: www.majesticgold.com
306 - 1688 152nd Street
Surrey, British Columbia
Canada, V4A 4N2
Telephone: 604-560-9060
Facsimile: 604-560-9062
Email: [email protected]
Cautionary Notes
Certain statements contained herein may constitute forward‐looking statements and are made pursuant to the
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and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, objectives and
expectations, including with respect to p roduction, exploration drilling, reserves and resources, exploitation
activities and events or future operations. Information inferred from the interpretation of drilling results and
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constitutes a prediction of what might be found to be present when, and if, a project is actually developed.
In some cases, you can identify forward‐looking statements by terminology such as "may", "should", "expects",
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uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance
or achievements to be materially different from any future results, levels of activity, performance, or achievements
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While these forward‐looking statements, and any assumptions upon which they are based, are made in good faith
and reflect our current judgment regarding the direction of our business, actual results will almost always vary,
sometimes materially, from a ny estimates, predictions, projections, assumptions or other future performance
suggestions herein. Except as required by applicable law, Majestic Gold does not intend to update any forward‐
looking statements to conform these statements to actual results.