Mateo
Subject: INDICO ANNOUNCES INCREASE IN PRIVATE PLACEMENT
PLAIN TEXT:
INDICO ANNOUNCES INCREASE IN PRIVATE PLACEMENT
NR12-02 March 1, 2012
Vancouver, British Columbia - Indico Resources Ltd. ("Indico" or the "Company") (TSX-V: IDI, OTCQX: IDIFF)
announces that it has increased the non-brokered private placement announced on January 18, 2012 from
$1,500,000 to $2,000,000. These funds will be raised by the Company issuing up to 8,000,000 common shares at
a price of $0.25 per share.
Finder's fees may be payable on a portion of the private placement, in accordance with the policies of the TSX
Venture Exchange.
All securities issued in the private placement will have a hold period in Canada of four months from the closing
of the private placement.
The net proceeds from the private placement are intended to be used to further exploration of the Company's
Oca�a porphyry copper-gold project in Peru and for general working capital purposes.
On behalf of Indico Resources Ltd.
Gary Freeman
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. Specifically, completion of the Private Placement of up to $2,000,000 is subject to a
--->number
of conditions, including but not limited to, TSX Venture Exchange acceptance. There can be no assurance that the Priva
--->te
Placement will be completed as proposed or at all. Generally, the words "expect", "intend", "estimate", "will" and sim
--->ilar
expressions identify forward-looking information. By their very nature, forward-looking statements are subject to know
--->n
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 i
--->n 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 o
--->ccur.
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 the
--->y
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 propertie
--->s. 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.
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<BODY bgColor=#ffffff><B><FONT face=Calibri-Bold size=4><FONT face=Calibri-Bold
size=4>
<P align=left>INDICO ANNOUNCES INCREASE IN PRIVATE
PLACEMENT</P></FONT></FONT><FONT face=Calibri-Bold size=3><FONT
face=Calibri-Bold size=3>
<P align=left>NR12</FONT></FONT><FONT face=Calibri-Bold size=3><FONT
face=Calibri-Bold size=3>‐</FONT></FONT><FONT face=Calibri-Bold size=3><FONT
face=Calibri-Bold size=3>02 March 1, 2012</P></FONT></FONT><I><FONT
face=Calibri-BoldItalic size=3><FONT face=Calibri-BoldItalic size=3>
<P align=left>Vancouver, British Columbia </B></I></FONT></FONT><FONT
face=Calibri size=3><FONT face=Calibri size=3>‐ </FONT></FONT><FONT face=Calibri
size=3><FONT face=Calibri size=3>Indico Resources Ltd. (�Indico� or the
�Company�) (TSX</FONT></FONT><FONT face=Calibri size=3><FONT face=Calibri
size=3>‐</FONT></FONT><FONT face=Calibri size=3><FONT face=Calibri size=3>V:
IDI, OTCQX: IDIFF)</P>
<P align=left>announces that it has increased the non</FONT></FONT><FONT
face=Calibri size=3><FONT face=Calibri size=3>‐</FONT></FONT><FONT face=Calibri
size=3><FONT face=Calibri size=3>brokered private placement announced on January
18, 2012 from</P>
<P align=left>$1,500,000 to $2,000,000. These funds will be raised by the
Company issuing up to 8,000,000 common shares at</P>
<P align=left>a price of $0.25 per share.</P>
<P align=left>Finder's fees may be payable on a portion of the private
placement, in accordance with the policies of the TSX</P>
<P align=left>Venture Exchange.</P>
<P align=left>All securities issued in the private placement will have a hold
period in Canada of four months from the closing</P>
<P align=left>of the private placement.</P>
<P align=left>The net proceeds from the private placement are intended to be
used to further exploration of the Company�s</P>
<P>Oca�a porphyry copper</FONT></FONT><FONT face=Calibri size=3><FONT
face=Calibri size=3>‐</FONT></FONT><FONT face=Calibri size=3><FONT face=Calibri
size=3>gold project in Peru and for general working capital
purposes.</P></FONT></FONT>
<DIV><FONT face=Arial size=2><FONT face=Calibri size=3><FONT face=Calibri
size=3>
<P align=left>On behalf of Indico Resources Ltd.</P></FONT></FONT><I><FONT
face=Calibri-Italic size=3><FONT face=Calibri-Italic size=3>
<P align=left>Gary Freeman</P></I></FONT></FONT><FONT face=Calibri size=3><FONT
face=Calibri size=3>
<P>President and Chief Executive Officer</P>
<P> </P><B><I><FONT face=Calibri-BoldItalic size=2><FONT
face=Calibri-BoldItalic size=2>
<P align=left>Cautionary Statement Regarding Forward</FONT></FONT><FONT
face=Calibri-BoldItalic size=2><FONT face=Calibri-BoldItalic
size=2>‐</FONT></FONT><FONT face=Calibri-BoldItalic size=2><FONT
face=Calibri-BoldItalic size=2>Looking Statements</P></B></I></FONT></FONT><FONT
face=Calibri size=2><FONT face=Calibri size=2>
<P align=left>This press release contains "forward</FONT></FONT><FONT
face=Calibri size=2><FONT face=Calibri size=2>‐</FONT></FONT><FONT face=Calibri
size=2><FONT face=Calibri size=2>looking statements" within the meaning of the
United States Private Securities</P>
<P align=left>Litigation Reform Act of 1995 and "forward looking information"
within the meaning of the British Columbia Securities Act</P>
<P align=left>and the Alberta Securities Act. Specifically, completion of the
Private Placement of up to $2,000,000 is subject to a number</P>
<P align=left>of conditions, including but not limited to, TSX Venture Exchange
acceptance. There can be no assurance that the Private</P>
<P align=left>Placement will be completed as proposed or at all. Generally, the
words "expect", "intend", "estimate", "will" and similar</P>
<P align=left>expressions identify forward</FONT></FONT><FONT face=Calibri
size=2><FONT face=Calibri size=2>‐</FONT></FONT><FONT face=Calibri size=2><FONT
face=Calibri size=2>looking information. By their very nature,
forward</FONT></FONT><FONT face=Calibri size=2><FONT face=Calibri
size=2>‐</FONT></FONT><FONT face=Calibri size=2><FONT face=Calibri
size=2>looking statements are subject to known</P>
<P align=left>and unknown risks and uncertainties that may cause our actual
results, performance or achievements, or that of our</P>
<P align=left>industry, to differ materially from those expressed or implied in
any of our forward looking information. Statements in this</P>
<P align=left>press release regarding Indico's business or proposed business,
which are not historical facts, are forward</FONT></FONT><FONT face=Calibri
size=2><FONT face=Calibri size=2>‐</FONT></FONT><FONT face=Calibri size=2><FONT
face=Calibri size=2>looking</P>
<P align=left>information that involve risks and uncertainties, such as
estimates and statements that describe Indico's future plans,</P>
<P align=left>objectives or goals, including words to the effect that Indico or
management expects a stated condition or result to occur.</P>
<P align=left>Since forward</FONT></FONT><FONT face=Calibri size=2><FONT
face=Calibri size=2>‐</FONT></FONT><FONT face=Calibri size=2><FONT face=Calibri
size=2>looking statements address events and conditions, by their very nature,
they involve inherent risks and</P>
<P align=left>uncertainties. Actual results in each case could differ materially
from those currently anticipated in such statements.</P>
<P align=left>Investors are cautioned not to place undue reliance on
forward</FONT></FONT><FONT face=Calibri size=2><FONT face=Calibri
size=2>‐</FONT></FONT><FONT face=Calibri size=2><FONT face=Calibri
size=2>looking statements, which speak only as of the date they</P>
<P align=left>are made. All of the Company's Canadian public disclosure filings
may be accessed via www.sedar.com and readers are</P>
<P align=left>urged to review these materials, including the technical reports
filed with respect to the Company's mineral properties. The</P>
<P align=left>foregoing commentary is based on the beliefs, expectations and
opinions of management on the date the statements are</P>
<P align=left>made. The Company disclaims any intention or obligation to update
or revise forward</FONT></FONT><FONT face=Calibri size=2><FONT face=Calibri
size=2>‐</FONT></FONT><FONT face=Calibri size=2><FONT face=Calibri
size=2>looking information, whether as a</P>
<P>result of new information, future events or
otherwise.</P></FONT></FONT></FONT></FONT></FONT></DIV></BODY></HTML>
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