Mr. Brian Kerzner reports

INDICO RESOURCES ANNOUNCES PROPOSED SHARE CONSOLIDATION

Indico Resources Ltd. intends to consolidate the common shares in the capital of the company on the basis of one postconsolidation common share for 10 preconsolidation common shares.

The company currently has 11,314,907 common shares issued and outstanding, and following the consolidation, the company will have approximately 1,131,490 common shares issued and outstanding, prior to rounding for fractional shares.

The consolidation was approved by the board of directors of the company on Oct. 24, 2024, in accordance with the articles of the company, but remains subject to the approval of the NEX board of the TSX Venture Exchange. The company will issue a further news release announcing the effective date of the consolidation upon receiving exchange approval. The company will not be changing its name in conjunction with the consolidation.

Management and the board is requesting the consolidation as the current share structure does not allow the company to raise sufficient funds to keep it operating as a going concern. The proposed consolidation will allow the company to attract new capital and enable the company to fully meet its continuing business objectives.

About Indico Resources Ltd.

Indico is a mineral resource exploration company focused on the discovery and exploration of porphyry copper gold deposits.

We seek Safe Harbor.