Mr. Garry Majerle reports

NORTHCORE RESOURCES: OPTION GRANTS

Northcore Resources Inc. has granted 270,000 incentive common share purchase options to directors and company consultants. The options will give the holder the right to purchase one common share for each option held at a price of six cents for a period of five years from the grant date. If the options are exercised during the first four months from their grant date, the underlying shares are the object of the statutory four-month-and-one-day hold period and cannot be resold until the hold period has expired. The options are issued under the company incentive option program rules as yearly adopted by the corporation's shareholders.