Indico Provides Update on OTCQX Listing and LIMA Listing

Indico Resources Ltd. ("Indico" or the "Company") (TSX VENTURE:IDI) is providing
this update regarding trading in the Company's securities on the OTCQX. As
announced in the Company's news release dated December 21, 2012, Indico was
named in an Order of Suspension of Trading (the "Order") dated December 20, 2012
from the US Securities and Exchange Commission (the "SEC"). Pursuant to the
Order, trading in the Company's securities on the OTCQX was suspended on
December 20, 2012.


According to the Order, the SEC stated that, "It appears to the SEC that there
is a lack of current and accurate information concerning the securities of
Indico Technologies, Inc. (n/k/a Indico Resources Ltd.) because it has not filed
any periodic reports since the period ended November 30, 1999." For further
information please refer to the SEC website at www.sec.gov.


Upon review of this matter, management determined that in February 1999 the
prior management of the Company under its former name, Indico Technologies,
Inc., filed a Form 20-F Registration Statement with the SEC but when management
decided not to continue with the registration with the SEC they did not file the
appropriate forms to withdraw the registration.


With the assistance of the Company's US legal counsel, the Company immediately
filed the necessary documentation to accept the revocation of the Company's
registration statement in the US; however, Indico has recently been advised the
SEC and FINRA (The Financial Industry Regulatory Authority) in the United States
will not allow the Company to re-list on the OTCQX without the completion of a
Form 20-F Registration Statement filing. 


Indico is in the process of listing on the Lima Stock Exchange locally known as
the "Bolsa de Valores de Lima" or the "BVL". Accordingly, the Company has taken
the decision not to have its shares re-listed for trading on the OTCQX. US
investors who wish to purchase Indico shares are still able to do so on the TSX
Venture Exchange (TSX VENTURE:IDI). 


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. Recently, the Company entered into a
Memorandum of Understanding to acquire 51% initially and up to 100% eventually
by fulfilling the conditions set out in the press release dated October 22, 2012
of the Maria Reyna Cu-Mo porphyry-skarn project in the Andahuaylas-Yauri Belt,
Cusco Region. 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.


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