Indico Resources Joins OTCQX

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2011) - Indico Resources Ltd. ("Indico" or the "Company") (TSX VENTURE:IDI)(OTCQX:IDIFF) is pleased to announce that common shares of the Company commenced trading on OTCQX International, the highest tier of the OTC market in the United States, under the symbol IDIFF on May 19, 2011. The Company's common shares will continue to trade on the TSX Venture Exchange under the symbol IDI.

"OTCQX gives excellent exposure to the equities markets of the United States through an efficient and transparent platform," said Gary Freeman, President and Chief Executive Officer of Indico Resources. "Indico's US marketing plan, in conjunction with trading on OTCQX, will raise investor awareness of Indico's copper exploration in Peru."

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX:OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. The OTC Link™ platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange. Companies trading on the top tier QX platform have met clear quantitative standards and provide quality disclosure to the marketplace.

To learn more about how OTC Markets Group visit www.otcmarkets.com.

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. The Company's senior technical staff has a cumulative 40 years of porphyry exploration and resource definition experience.

On behalf of Indico Resources Ltd.

Gary Freeman, President and Chief Executive Officer

Cautionary Statement

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. Generally, the words "expect", "intend", "estimate", "will" and similar expressions identify forward-looking information. By their very nature, forward-looking statements are subject to known 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 in 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 occur. 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 they 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 properties. 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.