IDI Indico Resources Ltd

Indico Resources Ltd. ("Indico" or the "Company") (TSX VENTURE:IDI) is currently
drilling the Phase 3 programme at Ocana, with seven holes completed to date,
totalling 620 metres. Visual mineralization in the holes drilled to date
supports the geological interpretation from previous drilling in late 2012.
Samples for these holes are currently at ACME laboratories preparation facility
in Lima, Peru. Geotec S.A., Peru mobilized the drill equipment to site in
mid-December, 2013. 


The Ocana Property consists of 22 concessions covering 110.24 km2 and is located
on the northwest extension of the Southern Peru Porphyry Copper Belt, a trend
defined in part by the Toquepala, Quellaveco, Cuajone, and Cerro Verde Mines to
the southeast. Most recent exploration of the belt has resulted in discovery of
the Zafranal copper-porphyry deposit, located approximately 75 km to the
southeast of the Ocana Property.


This programme targets supergene mineralization and is primarily an infill
programme to tighten the current 200m drill spacing to 100m. A Hydracore 4000
man-portable drill rig is being used and should be able to complete the
programme by the end of March, 2014. Currently 32 holes are planned, totalling
3050 metres, and comprising mostly short, vertical holes to infill and further
delimit near-surface, flat-lying supergene mineralization. Soluble copper and
acid consumption tests indicate the supergene mineralization should be amenable
to low-cost, SX/EW heap-leach processing. Figure 1 shows the layout/density of
the planned holes and Figure 2 illustrates highlights from the Phase 2 drilling
in 2012. Additional maps and cross sections are available at our website
(http://www.indicoresources.com/s/Ocana.asp).


To close the programme, four additional longer holes (400 metres each) are
planned to test the eastern limits of the larger hypogene mineralization,
bringing the total to 4650 metres. 


Qualified Person

John Drobe, P.Geo., Indico's Chief Operations Officer and a qualified person as
defined by National Instrument 43-101, has reviewed the scientific and technical
information that forms the basis for this news release. Mr. Drobe is not
independent of the Company as he is an officer and a shareholder.


On behalf of Indico Resources Ltd.

Robert Baxter, President and Chief Executive Officer

To view Figures 1 and 2 please visit the following link:
http://media3.marketwire.com/docs/924020i.pdf


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.
Dennis Nenadic
IR/Corporate Communications
+1 (604) 398-5379
+1 (604) 398-5387 (FAX)
dnenadic@indicoresources.com
www.indicoresources.com

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