Northcore: Amendment to Private Placement Price Reservation

Montreal, Quebec--(Newsfile Corp. - October 3, 2014) - Northcore Resources Inc. (TSXV: NCR) is pleased to announce a change to the condition of the Private Placement price reservation it had filed with the TSX-V in early August, 2014.

The Corporation has filed with the TSX-Venture an amended Private Placement Price Reservation so it can complete a $250,000 Common Share Units Private Placement at five cents ($0.05) per Common Share Units. The amendment concerns the exercise price of the Private Placement Warrants.

The proposed Common Share Unit Private Placement will consist in the issuance of five million (5,000,000) Units. Each unit will consist in one (1) Common Share and one (1) Common Share Purchase Warrant. Each warrant will give the holder the right to acquire an additional Common Share at a price of six cents ($0.06) per share for a period of twenty-four (24) months following the Closing of the Private Placement. This exercise price is a reduction to six cents ($0.06) compared to an exercise price of ten cents ($0.10) per share as disclosed in the July 29, 2014, news release.

This Placement will be a non-brokered placement made with Accredited Investors and other qualified purchasers. A seven and one-half percent (7.5%) cash commission will be paid and a seven and one half percent (7.5%) Broker Warrants commission will be paid to qualified recipients. The Broker Warrant will give the holder the right to acquire Common shares at a price of six cents ($0.06) per share for a period of twelve (12) months following the Closing of the Private Placement.

The Use of Proceeds of the Placement will be for Corporate Cash Flow purposes. The Private Placement must be completed prior to October 27, 2014.

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.

For further information, please contact:
Garry Majerle, Chairman of the Board of Directors
Tel :(519)-697-6945
northcoreres@gmail.com