NCR

Northcore Resources Inc. ("Northcore" or the "Corporation") (TSX VENTURE:NCR)
and Melkior Resources Inc. ("Melkior") (TSX VENTURE:MKR) wish to announce that
they have amended the Option Agreement regarding the West-Timmins-Bristol
property option agreement ( See Big Red Diamond (now Northcore Resources)
January 18, 2010 press release).


The partners have agreed to extend the life of the Option Agreement to October
31, 2016 by which Northcore can acquire a 50% interest on the property. To earn
its 50% interest the Corporation must invest the sum of $200,000 in exploration
expenses before October 31, 2016. The original agreement called for $400,000 of
expenditures prior to January, 2014. Northcore must also invest sufficient
yearly exploration expenses to allow Melkior to meet the minimum annual
exploration expenses under the Ministry of Northern Development and Mines
("MNDM") regulations for Assessment work. The West-Timmins-Bristol property is
comprised of 12 claim units covering a surface area of 192 hectares.


The property is located in the northwest part of Bristol Township and is 25
kilometres northwest of the city of Timmins. Excellent access is provided by
Malette Road off of Highway 101. From regional geological compilations and from
a surface prospecting program done by Melkior in 2010, the property is mainly
composed of a sequence of meta-volcanic rocks cut by faults. The interpreted
geology is similar to that which hosts Kidd Creek Mine. 


The property is located approximately 7.5 kilometres NNE from an area being
actively explored by Melkior on their Carscallen Gold project. Melkior
intersected 3.55% Copper over 1.35 metres and 3.72 g/t gold over 7.85 metres
(see Melkior press release dated March 26, 2012). The Option helps Northcore
preserve its strategic presence in the West-Timmins mining camp. These claims
are contiguous to some of Northcore's Carscallen claims.


During 2009 and 2010, Melkior and Northcore Resources (at the time Big Red
Diamond) completed a work program on the Bristol property. The program consisted
of a 11.9 line kilometre ground magnetometer survey, a 19.5 line-kilometre
airborne magnetic and electromagnetic (VTEM) survey and a surface prospecting
sampling survey whereby 43 samples were collected. The VTEM survey outlined a
strong conductor located in the southwestern portion of the property. 




----------------------------------------------------------------------------
Sample     Description                       Au     Ag     Cu     Pb     Zn 
 Number                                    (g/t)  (g/t)  (ppm)  (ppm)  (ppm)
----------------------------------------------------------------------------
20687      Boulder 1mx1mx1m granite                                         
            pyrite galena                 1.525    2.5    244   2780    786 
----------------------------------------------------------------------------
20688      Boulder 1mx1mx1m granite                                         
            pyrite galena                 0.688    0.3     77    365    171 
----------------------------------------------------------------------------
20689      Boulder 1mx1mx1m granite                                         
            pyrite galena                 0.196    0.5     27    657     84 
----------------------------------------------------------------------------



Table 1: 2010 Grab sample highlights. These samples are from separate boulders.
Some of the other samples were anomalous for Gold but were not significant.


Melkior will act as Joint-Venture Operator on the claims and the Option
agreement currently agreed to by the partners will remain in force.


The technical content of this press release was reviewed and approved by Jens
Hansen, professional engineer and qualified person in accordance with the
Canadian regulatory requirements as set out in National Instrument 43-101. Mr.
Hansen is the President of Melkior Resources.


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 Northcore deems the expectations reflected in these
forward-looking statements to be reasonable, the Corporation cannot provide any
guarantee as to the materialization of the expectations reflected in these
forward-looking statements. The Corporation expressly disclaims 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.


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Northcore Resources Inc.
Garry Majerle
Chairman of the Board
519-697-6945

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