Indico Reports on Frivolous Claims

Vancouver, British Columbia--(Newsfile Corp. - July 5, 2017) - Indico Resources Ltd. (TSXV: IDI) ("Indico" or the "Company") today reports on certain proceedings in Peru related to certain claims made by Minera Andina de Exploraciones S.A.A. ("Minandex") against Inversiones Minerales with respect to its Assignment and Mining Option Agreement of April 10, 2010 (the "Agreement").Minandex has asserted with a "deed of termination" in the Public Registry, Lima, Peru that the Company is in default of the Agreement.Indico believes these claims to be frivolous and intended for ulterior purposes.Accordingly, the matters have been submitted to arbitration in Peru in accordance with the Agreement.The Company will provide further updates as information becomes available.

About Indico Resources Ltd.

Indico is a mineral resource exploration company focused in the discovery and exploration of porphyry copper-gold deposits in South America.

On behalf of Indico Resources Ltd.

Robert Baxter
President and Chief Executive Officer

Contact Information:

Bob Baxter
Email:bbaxter@indicoresources.com
Vancouver: +1(778) 928-1864 / Lima: +51-936762648

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