Indico Appoints New Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2012) - Indico Resources Ltd. ("Indico" or the "Company") (TSX VENTURE:IDI)(OTCQX:IDIFF) is pleased to announce the appointment of Mr. Robert Baxter to the Company's Board of Directors.

Mr. Baxter brings to the Indico board over 25 years of experience in the mining industry, principally in Latin America. He is currently the Chief Executive Officer and President of Indico and is also a director of Pan Global Resources Inc., a mineral exploration and development company listed on the TSX Venture Exchange. Mr. Baxter has also formerly held positions as President, Chief Operating Officer and a director of Norsemont Mining Inc. until April 2011 following the completion of its sale to HudBay Minerals Inc. for $520 million.

Mr. Baxter has an Applied Bachelor of Science (Honours) degree from the University of New South Wales and is a Fellow of the Australian Institute of Mining and Metallurgy (FAusIMM).

Mr. Baxter will be replacing Mr. Carlos Ballon, who has resigned from the Board of Directors. The Company would like to express its sincere thanks to Mr. Ballon for his service on the Board.

About Indico Resources Ltd.

Indico Resources Ltd. is a resource exploration company focused in the discovery and exploration of porphyry copper-gold deposits in South America. The Ocaña Porphyry Project is the Company's primary exploration project and is currently the main focus of exploration activities. In addition, the Company has reviewed multiple additional porphyry exploration projects and is in negotiation to acquire interests in additional porphyry exploration projects. Please visit our website at www.indicoresources.com.

On behalf of Indico Resources Ltd.

Henk van Alphen, Director