Rencore Emerges With Proven Discovery Team

TORONTO, ONTARIO--(Marketwire - June 2, 2010) - Rencore Resources Ltd. ("Rencore" or the "Company") announces that it changed its name from "Kermode Exploration Ltd." to "Rencore Resources Ltd." immediately following the Annual General and Special Meeting of shareholders held on June 1, 2010 wherein the shareholders unanimously approved all matters set out in the Information Circular dated April 30, 2010. In addition to approval of the change of name, Richard Nemis, John Harvey, David Graham, Ian Brodie-Brown, Jim Glover and Bill Johnstone were elected directors of the Company.

Immediately following the shareholders meeting, Richard Nemis was appointed Chief Executive Officer and President, John Harvey was appointed Chief Operating Officer, David Graham was appointed Executive Vice-President, Amy Stephenson was appointed C.F.O. and William R. Johnstone was appointed Corporate Secretary. The Company constituted an audit committee comprised of Jim Glover as Chairman, along with Ian Brodie-Brown and William R. Johnstone.

Richard Nemis was the founder, President and C.E.O. of Noront Resources Ltd. ("Noront") and John Harvey was the Chief Operating Officer during Noront's discovery of several mineral deposits in what is now known as the "Ring of Fire". As a result, earlier this year, Messieurs Nemis and Harvey were presented the Bill Dennis Award for a Canadian discovery or prospecting success by the Prospectors and Developers Association. Mr. Nemis is a director of several other resource companies.

Prior to his work with Noront, Mr. Harvey spent most of his professional career employed in mineral exploration with Noranda Inc., including his position as President of Hemlo Gold Mines and President of Noranda Exploration Company, Ltd.

In 1986 David B. Graham became President of R. Bruce Graham and Associates Ltd., a mining consulting firm that has served the mineral industry since 1956. Mr. Graham joined the board of Noront in December 2006, and was appointed Vice- President, Special Projects for Noront until January 2010. Mr. Graham has over thirty years of experience in the industry and has served as a director and manager of a number of private and public natural resource and mining concerns. His relevant experience has been in the fields of base and precious metals, uranium and industrial minerals and materials. Mr. Graham has worked in Canada, the United States, Scandinavia and Africa.

Ian Brodie-Brown is an industry consultant and entrepreneur as well as President and Chief Executive Officer of Tribute Minerals Inc., a TSX Venture listed junior resource exploration company.

Jim Glover is an assurance partner with MSCM LLP, a mid sized C.A. firm in Toronto which acts as auditors for Canadian and U.S. public companies.

Bill Johnstone has been a partner at Gardiner Roberts LLP since February of 2005 practising in the area of Corporate Securities Law. Mr. Johnstone is the practice leader of the firm's Securities Law Group. Mr. Johnstone is also a director of six TSX Venture Exchange listed companies.

Richard Nemis, C.E.O. and President stated "I am very pleased to be rejoining forces with John Harvey and David Graham to commence the search for mineral deposits through the vehicle of Rencore. With the accounting background brought to the board by Jim Glover, the industry experience brought to the board by Ian Brodie-Brown and the public company and legal experience bought to the board by Bill Johnstone, I believe that we have put together a management team that is well positioned to acquire and explore quality resource properties for the benefit of the shareholders of Rencore."

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