Northcore Resources Inc.

TSX VENTURE : NCR


Northcore Resources Inc.

April 18, 2013 10:57 ET

Northcore Resources: Exploration Results, Nominations and Option Grants

MONTREAL, QUEBEC--(Marketwired - April 18, 2013) - Northcore Resources Inc. (TSX VENTURE:NCR) announces that it recently completed a short exploration program on its Godfrey Township property located in the West Timmins mining area. This claim consists of one (1) unit for an area of 16 ha. The recently completed program was designed to examine closely the local till geochemistry from samples taken across the claim in a regular grid pattern.

EXPLORATION:

Twenty (20) samples were retrieved along five (5) east-west grid lines at 100m spacing along each line. The samples were taken using a hand auger at an average depth of between 30 to 100cm (please see exploration report at www.northcoreresources.com). The samples weighed an average of 300 grams and were submitted to Activation Laboratories ("Act-Lab") of Ancaster, ON. Inductively coupled plasma-mass spectrometry (ICP/MS) was used for assay purposes to provide trace elements scans for all types of economic mineralization.

Sample # 16 contained 115 ppb Au and sample #1 had 5 ppb Au while all the other samples contained less than 5ppb Au.

Other anomalous values found were:

Sample # Co ppm Ni ppm Cu ppm Zn ppm As ppm Pb ppm
#16 4.5 12.7 9.08 12.6
#17 2.9 9.6 12.2 17.2
#12 3.8 9.7 18.1
#13 5.5 14.2 26.8
#19 3.8 17.4 23.9 28.2 2.0 15.7
#20 8.0 22.5 10.7 41.1 1.8 7.31

Samples 16 and 17 were collected in the Southeastern corner of the property.

The average values over the 20 samples were the following:

Co 2.9 ppm
Ni 9.97 ppm
Cu 7.0 ppm
Zn 17 ppm
As 1.31
Pb 5.7 ppm

Benoit Violette, Geo., Quebec, a NI-43-101-compliant Qualified Person reviewed and approved the geological content of this press release.

NOMINATIONS:

The Corporation would like to announce the election of Garry Majerle as Interim Chairman.

Subject to approval by the TSX-Venture Exchange, Northcore has nominated as a new member of its Board of Directors, James Garber, P. Geo. Mr. Garber graduated from the University of Windsor, Windsor, ON, in 1973 with a B.Sc. (Honours Geology) and has been a practicing geologist for over 35 years with both major and junior exploration companies including Phillips Petroleum Company - Strategic Minerals Division, Noranda Exploration Company - Hemlo Gold - Battle Mountain Gold. Most recently he worked as Director / Exploration Manager, Canada for Landore Resources Inc. / Landore Resources Canada Inc. and Manager of Exploration for Metalcorp Limited. Jim was personally involved with the discovery and delineation of gold and nickel deposits in northern Ontario, including the Glimmer Gold Deposit (now the Black Fox mine of Brigus Gold), the Pike River gold deposit (now Brigus Gold Grey Fox deposit), the Junior Lake project VW nickel deposit (NI 43-101 compliant resource of 3.7 m tonnes at 0.49% NiEq indicated and 0.72 m tonnes at 0.49% NiEq inferred for a contained 21,760 tonnes NiEq (www.landore.com)) and the initial evaluation of the Lamaune iron deposit.

The Board of Directors of Northcore Resources Inc. is looking forward to benefiting from Mr. Garbervaried and well established credentials as a successful explorationist. Once TSX-V approval obtained Mr. Garber will act as the Corporation's Qualified Person in accordance with Canadian regulatory requirements as set out under National Instrument 43-101.

Following Mr. Garber's nomination as a Director Northcore Resources will have five (5) independent Directors: Garry Majerle, Chairman, Terry Byberg, James Garber, P. Geo., Taylor Sebastian and Michel Lebeuf.

OPTION GRANTS:

The Board of Directors has granted one million (1,000,000) options with an exercise price of $0.10 (ten cents) each and an expiry in five (5) years from the grant date. Half of the granted options (500,000) vest immediately and the other half (500,000) in twelve months as long as the recipient is still associated with the Corporation. These options were all granted to the Directors.

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

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