Northcore: Lapse of the MOU for the Ymer 0 Tungsten- Project

Montreal, Quebec--(Newsfile Corp. - September 3, 2014) - Northcore Resources Inc. (TSXV: NCR) wishes to announce that the Memorandum of Understanding ("MoU") signed with NunaMinerals A/S of Nuuk Greenland (COPENHAGEN: NUNA.CO / NUNA.DC) has lapsed. The two companies are in discussion regarding a possible extension to the MOU but no agreement has been reached on whether there will be an extension and what its nature will be.

This MOU was announced on May 16, 2014, and was for the joint development of Nuna Minerals' Ymer Ø tungsten-antimony-gold project in Central East Greenland. The lapsing of the MOU is mainly due to the difficult market conditions being experienced by junior mining companies during the last 2-3 years.

Garry Majerle, Chairman and CEO of Northcore Resources, states: "We are in contact with NUNA's management and together we are trying to find a way by which this great project could be developed jointly by Northcore and NUNA."

The technical portion of this press release was reviewed and approved by Mr. Jens Eskelund-Hansen, P. Eng., a Qualified Person in accordance with National Instrument 43-101. Mr. Hansen is a Northcore Resources shareholder.

Neither the TSX-Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

On behalf of the Board of Directors of Northcore Resources Inc.
Garry Majerle, Chairman

We seek safe harbour

For further information:
Garry Majerle, Chairman
Northcore Resources Inc.
519-697-6945