Northcore Resources Inc.

Northcore Resources Inc.

November 16, 2012 11:46 ET

Northcore Resources-Board Member Nomination-Resignation and CEO Resignation

MONTREAL, QUEBEC--(Marketwire - Nov. 16, 2012) - Northcore Resources Inc. ('Company' or 'NCR') (TSX VENTURE:NCR) wishes to announce, effective immediately, the resignation of Jean-François Perrault, President & CEO and Maurice Giroux, Director and subject to regulatory approval, the nomination of Terry Byberg and Daniel Coch, P. Eng., as Directors of the Company. These individuals bring a long and varied geological and mining experience to the Board as well as both having served on the Board of Directors of Junior mining companies for a number of years.

They will replace Jean-François Perrault and Maurice Giroux who are resigning as Directors of Northcore effective immediately.

Terrence H. Byberg:

Mr. Byberg is a graduate of the Haileybury School of Mines with more than 40 years of international mining experience gained in Canada, Greece, the Philippines, Australia and Mexico. Mr. Byberg started his career at Campbell Red Lake Mines where he held various positions up to Mine Superintendent. He worked as General Manager of Royal Oak Mines Inc., TVX Gold Inc. and Exall Resources Ltd. He held the position of President and COO of Philippine Gold PLC, President and CEO of Silver Eagle Mines Inc. and most recently was VP Mining and Corporate Secretary with Chieftain Metals Inc.

Daniel Coch, P. Eng and Geologist:

Mr. Coch served as a Consulting Geologist and Manager of numerous major mining exploration projects in West and East Africa and Canada. He has participated in a number of international development projects and has served as a Consultant to a major law firm in Montreal. Over the years he accumulated project management experience in civil construction and mineral exploration in the Middle East, Africa, South America and Canada. He has worked extensively in heavy construction (Oil and Gas production) for over 20 years and for 10 years in mineral exploration in Canada and Africa. As consultant and exploration manager he has overseen and completed grass roots exploration, geochemical, geophysical land and airborne surveys and has directed multiple drilling campaigns for various Canadian public and private companies. He managed a two year geological technical assistance program for the Canadian International Development Agency ("CIDA") in Zimbabwe. Additionally, Mr. Coch has assisted junior mineral exploration companies in the preparation of IPO's for the Montreal and Toronto Stock Exchanges and has been a Director for several public companies as well as serving on both audit and corporate governance committees. He served as Director of Amseco Exploration Ltd., Rocmec Mining Inc., Stellar Pacific Ventures, Inc. and since April 2011, of Actus Minerals Corp. Mr. Coch graduated as a Geological Engineer from Liege University in Belgium in 1969.

Northcore wishes to complete the recently proposed Private Placement Financing so as to be able to meet its current corporate and regulatory obligations. The Company will immediately be instituting a compilation of all exploration activities it has completed over the last 4 years as well as a review of its various projects and properties. Once completed the Board will determine its future exploration programs.

The Board of Directors of Northcore wish to thank Messrs. Perrault and Giroux for their insight, contributions and efforts on behalf of the Company.

The Board of Directors now consisting of Terrence Byberg, Daniel Coch and Michel Lebeuf will continue to oversee the governance of the Company.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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