Indico Resources Ltd. ("Indico" or the "Company") (TSX VENTURE:IDI)(OTCQX:IDIFF)
is pleased to announce the beginning of its Phase 2 drilling campaign at the
Ocana Cu-Au-Mo porphyry in Southern Peru. 


The planned drill program is underway with two diamond drill rigs on site
drilling both day and night shift. Indico's planned Phase 2 drilling program at
Ocana totals a minimum 4400m. The first 1000 metres will consist of shallow
holes (200m or less) along the southern ridge to test primarily for supergene
sulphide and oxide mineralization. The holes will be drilled a short way into
the hypogene zone to test the southern extents, and some may be extended. The
remainder of the holes are infill drilling to test the upper higher-grade
hypogene zones within the breccia target, as well as further delimit the
southern and eastern edges of both hypogene and supergene mineralization. The
drill hole spacing will be roughly 200 metres. With Phase 2 completed, Indico
should have sufficient data to estimate Inferred resources at Ocana.


About Indico Resources Ltd.

Indico Resources Ltd. is a resource exploration company focused in the discovery
and exploration of porphyry copper-gold deposits in South America. The Ocana
Porphyry Project is the Company's primary exploration project and is currently
the main focus of exploration activities. In addition, the Company has reviewed
multiple additional porphyry exploration projects and is in negotiation to
acquire interests in additional porphyry exploration projects. For more
information, please visit our website at www.indicoresources.com; follow us on
Twitter: @indicoresources and Facebook: Indico Resources Ltd.


The technical information provided in this news release was reviewed and
approved by Robert. W. Baxter (FAusIMM), the President, Chief Executive Officer
and a director of the Company and a qualified person for the purposes of
National Instrument 43-101.


On behalf of Indico Resources Ltd.

Robert Baxter, President and Chief Executive Officer

Cautionary Statement Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and "forward
looking information" within the meaning of the British Columbia Securities Act
and the Alberta Securities Act. Generally, the words "expect", "intend",
"estimate", "will" and similar expressions identify forward-looking information.
By their very nature, forward-looking statements are subject to known and
unknown risks and uncertainties that may cause our actual results, performance
or achievements, or that of our industry, to differ materially from those
expressed or implied in any of our forward looking information. Statements in
this press release regarding Indico's business or proposed business, which are
not historical facts, are forward-looking information that involve risks and
uncertainties, such as estimates and statements that describe Indico's future
plans, objectives or goals, including words to the effect that Indico or
management expects a stated condition or result to occur. Since forward-looking
statements address events and conditions, by their very nature, they involve
inherent risks and uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements. Investors are
cautioned not to place undue reliance on forward-looking statements, which speak
only as of the date they are made. All of the Company's Canadian public
disclosure filings may be accessed via www.sedar.com and readers are urged to
review these materials, including the technical reports filed with respect to
the Company's mineral properties. The foregoing commentary is based on the
beliefs, expectations and opinions of management on the date the statements are
made. The Company disclaims any intention or obligation to update or revise
forward-looking information, whether as a result of new information, future
events or otherwise.
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