Northcore Resources Inc.: Announcement
MONTREAL, QUEBEC--(Marketwired - Oct 10, 2013) - Northcore Resources Inc. (TSX VENTURE:NCR) (the "Corporation") announces the sale to TomaGold Corp. (TSX VENTURE:LOT) of its fifty percent (50%) interest in the Little Monster property, located in the Monster Lake area of Quebec, about 40 km south of Chapais.
Northcore will receive $7,500 in cash and one hundred and fifty thousand (150,000) shares of TomaGold Corp. The sale of this interest follows the property review the Corporation completed during the Winter and Spring of 2013. Since Northcore could not acquire a substantial enough land position in the area it decided to try to recoup its investment by offering to sell this interest and the Lake Irene property. The Corporation is still actively looking to sell the Lake Irene property.
This property was jointly owned with Vanstar Mining Resources Inc. (TSX VENTURE:VSR). It covered an area of 1,040 hectares spread over 20 map-designated claims ("CDC").
These transactions are subject to regulatory approval and the common shares issued will be subject to a hold period of four months and one day.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS:
The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although the Companies deem the expectations reflected in these forward-looking statements to be reasonable, the Corporations cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporations expressly disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
