Mr. Arden Morrow reports

CALICO RESOURCES HOLDS 2012 ANNUAL GENERAL MEETING

Calico Resources Corp. held its 2012 annual general meeting on Dec. 18, 2012. Calico is pleased to report a very strong voter turnout with holders of 39.53 per cent of the outstanding shares represented at the shareholder meeting.

All items proposed in the information circular were overwhelmingly approved by the shareholders. The five management nominees were re-elected, those being Arden (Buck) Morrow, Kevin Milledge, Allan Williams, Nicholas Glass and Roderick Chisholm. BDO Canada LLP was reappointed auditor of the company, and the company's stock option plan was ratified and approved.

Mr. Morrow stated: "I very much appreciate the strong showing of shareholders at the shareholders meeting and their overwhelming support. I am also very pleased with the progress that Vance Thornsberry, our vice-president, exploration, has made with the permitting of Calico's Grassy Mountain high-grade underground gold project, located in southeast Oregon. We hope to be announcing further developments shortly."

Following the annual general meeting, the directors of the company held a meeting, at which time the following persons were appointed to the following positions:

• Mr. Morrow, president, chief executive officer and chairman;
• Alec Peck, chief financial officer;
• Mr. Thornsberry, vice-president, exploration;
• Pamela White, secretary.

The following persons were appointed to the audit committee: Mr. Glass (chairman), Mr. Chisholm and Mr. Milledge.