MONTREAL, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Northcore Resources Inc. (NCR)-

Joe DiMaria, Garry Majerle and François C. Desrosiers have resigned as Directors of Northcore Resources effective immediately. Mr. Taylor Sebastian had resigned in July, 2023. Mr. Desrosiers has also resigned as President and CEO of the Company effective immediately.

The Directors felt that they couldn’t perform their duties as Directors because of the lack of cooperation they were getting from the Company’s largest creditor and second largest shareholder. They have asked that creditor and shareholder assume the responsibility for the Company.

The Directors had diligently been working by filing the:

October 31, 2021, audited financial statements, the related Officer Certificates and Management Discussions and Analysis;

Interim 2022 Quarterly unaudited financial statements, the related Officers Certificates and Management Discussion and Analysis;

October 31, 2022, audited financial statements, the related Officer Certificates and Management Discussions and Analysis; and

Interim 2023 Quarterly unaudited financial statements, the related Officers Certificates and Management Discussion and Analysis.

This work was done so that the Cease Trade Orders in place on its securities, by the “Autorité des Marchés Financiers” (“AMF”) of Québec, as well as the Ontario Securities Commission, the Alberta Securities Commission, and the British Columbia Securities commission, be revoked. The original Cease Trade Order was instituted by the AMF on March 7, 2022. The Cease Trade Order was instituted since the Corporation was not up to date on the filing of its Audited Financial Statements and other related documents.

The lack of cooperation and substantive support needed from the largest creditor and second largest shareholder of the Company in resolving certain issues has created a situation where the Directors doubt the goodwill of this individual in getting the file resolved and they doubt that they will be able to get the order revoked. The Directors feel they have no other choice but to resign effective immediately.

Disclaimers:

Statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's on-going filings with the securities regulatory authorities, which filings can be found at www.sedar+.com. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

For further information contact

François C. Desrosiers, 438-874-0558