Indico Clarifies Technical Disclosure

Indico Resources Ltd. ("Indico" or the "Company") (TSX VENTURE:IDI). As a result
of a review by the British Columbia Securities Commission (the "BCSC"), Indico
is issuing the following news release to clarify our disclosure. Based on the
review completed by the BCSC, certain information provided in a summary on the
"Ocana Projects" page of the Company's website (the "Ocana Summary"), in the
Company's news releases dated January 9, 2013 and June 27, 2013, in a corporate
presentation entitled "Porphyry & Skarn Copper-Molybdenum-Gold Mineralization"
dated June 26, 2013, which was posted on the Company's website (the
"Presentation"), and in a corporate fact sheet which was posted on the Company's
website (the "Fact Sheet") was found to be unsupportable and in contravention of
National Instrument 43-101. The Company has amended the Ocana Summary,
Presentation and Fact Sheet, and clarifies the disclosure as follows:


The Ocana Summary previously made reference to "this supergene resource" as the
current focus of the Company's exploration, and provides length, width and
thickness dimensions, which could readily be interpreted as or incorrectly
implied the existence of a mineral resource. The dimensions with associated use
of the term "resource" were potentially misleading because the Company does not
have an initial resource estimate. The designation of resource is retracted by
the Company and the Ocana Summary has been corrected on the Company's website.
The Company also clarifies that is has estimated grade and tonnage ranges of a
potential exploration target according to the disclosure requirements of NI
43-101, as disclosed below. 


The Company's January 9, 2013 news release quotes Bob Baxter, the Company's
President and CEO, as follows: "We also plan to further define the eastern limit
of the higher grade sulphide resource and its depth extent", which may have
incorrectly implied that an additional sulfide resource exists. The use of the
word "resource" contained in the news release was potentially misleading and
should have rather referred to "mineralization"; the Company retracts the
"resource" designation.


The Company's June 27, 2013 news release and Fact Sheet disclosed that the
Company "will infill drill the supergene soluble copper resource to allow for
preliminary resource estimation", which could incorrectly be implied to mean the
existence of a mineral resource. This statement was ambiguous and potentially
misleading because the Company does not have an initial resource estimate, and
any designation of resource is retracted by the Company.


The Company's June 27, 2013 news release also discloses the supergene
mineralization could be fast tracked to production and purported to estimate
annual production of copper metal. This statement is potentially misleading
before there is an initial resource estimate and preliminary economic analysis
to support production rates and scheduling. The estimates of copper production
and period for possible production are retracted and not to be relied upon.


The Presentation disclosed that the 2012 Phase-2 drilling "Defined supergene
blanket with soluble Cu resource", which incorrectly implied that a mineral
resource already exists. This was potentially misleading because the Company
does not have an initial resource estimate. 


The Presentation disclosed a "geological concept" stating an estimated tonnage
range and grade range. The Company restates this as a supergene exploration
target of 20-30 million tonnes at a grade of 0.5 to 0.6% copper. These quantity
and grade ranges are conceptual in nature, that there has been insufficient
exploration to define a mineral resource and that it is uncertain if further
exploration will result in the target being delineated as a mineral resource.
This exploration target is based on the drill results as illustrated in the maps
and sections within the presentation, and also available in more detailed
versions on the website. 


The Presentation also indicated that it was the Company's intention to conduct
economic analysis on the above noted conceptual target starting in 2013 and
disclosed capital cost, production rate and mine life. However, NI 43-101
restricts disclosure of these economic parameters because there is no initial
mineral resource estimate on which to base a preliminary economic analysis or
mining study. These associated economic parameters should not be relied upon and
are being retracted by the Company.


Also within the Presentation, the Company discloses gross in-situ metal value on
a deposit scale for competitor's projects. For example, page 13 of the Corporate
Presentation reports $US value for competitor projects. The use of in-situ value
is meaningless and may be misleading because it fails to take into consideration
operating and capital costs, smelter costs and other factors relating to the
potential mining, extraction and recovery of metals. These in situ metal values
should not be relied upon and are being retracted by the Company and have been
deleted from the Company presentation.


In the event the Company receives an initial material resource estimate, it will
promptly disclose the results and file a supporting technical report.


Mr. Robert Baxter, BSc, FAusIMM, the President and CEO of the Company, a
Qualified Person as defined by NI 43-101, prepared the scientific and technical
information in this news release.


On behalf of Indico Resources Ltd.,

Robert Baxter, President and Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


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.
Bob Baxter
President & CEO
+1(604) 638-5817
+1(604) 408-7499 (FAX)
bbaxter@indicoresources.com
Indico Resources (TSXV:IDI)
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