Indico Announces Granting of Stock Options

Indico Resources Ltd. ("Indico" or the "Company") (TSX VENTURE:IDI)(OTCQX:IDIFF)
announces the granting of incentive stock options to certain of its directors,
officers and consultants to purchase up to an aggregate of 2,750,000 common
shares in its capital stock at a price of $0.24 per share, exercisable for a
period of two years.


About Indico Resources Ltd.

Indico 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.


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.


Attachment Available: http://cnrp.marketwire.com/cnrp_files/20121022-idi1022.pdf


FOR FURTHER INFORMATION PLEASE CONTACT: 
Indico Resources Ltd.
Dean Linden
Corporate Development
[phone]
[phone] (FAX)
[e-mail]
www.indicoresources.com