Mr. Brian Kerzner reports

INDICO ANNOUNCES CANCELLATION OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT

Indico Resources Ltd., further to its news releases dated Nov. 24, 2025, Dec. 2, 2025, and Jan. 5, 2026, is cancelling its non-brokered private placement of 952,381 common shares in the capital of the company at a price of 21 cents per common share for gross proceeds of up to $200,000.