An anonymous director reports

NORTHCORE: UPDATE ON ANNUAL FINANCIAL FILINGS DEFAULT

Northcore Resources Inc. has provided this biweekly update on filing default in accordance with policy statement 12-203 respecting management cease trade orders for continuous disclosure defaults. On Feb. 27, 2015, the corporation announced that, for the reasons disclosed in the default announcement, the filing of its annual audited financial statements (and related chief executive officer and chief financial officer certifications as required by National Instrument 52-109) and the accompanying management's discussion and analysis for the year ended Oct. 31, 2014, would not be completed within the period prescribed for the filing of such documents, which was to be done by March 1, 2015.

As a result of this delay in filing the 2014 annual financial filings, the company's principal regulator, the Autorite des marches financiers, issued on Feb. 27, 2015, a management cease trade order, which restricts all trading in securities of the corporation, whether direct or indirect, by management and insiders of the company. The issuance of an MCTO does not affect the ability of persons who are not insiders of the company to trade in the company's securities.

Northcore's board of directors and its management confirm once again that they are working expeditiously to meet the company's obligations relating to the filing of the 2014 annual financial filings. The corporation continues to expect to file the 2014 annual financial filings on or before May 1, 2015.

Until the 2014 annual financial filings have been filed, the corporation intends to continue to satisfy the provisions of the alternative information guidelines specified by policy statement 12-203 by issuing biweekly default status reports in the form of further press releases, which will also be filed on SEDAR.