TSX-V: IDI

Indico Resources Ltd. is a mineral exploration company focused on the

discovery and exploration of porphyry copper deposits in South America. The
Ocaña Porphyry Project in southern Peru is the Company’s primary exploration
project, while it has recently entered into a MOU on the Maria Reyna copper
porphyry-skarn property in Cusco Region, as its secondary project.
The company’s management has considerable porphyry exploration and
resource definition experience. To assist in quickly moving the projects
forward, Indico has entered into an agreement with Stonehouse International
(SHC), whereby SHC will construct and operate the projects in Peru under an
Alliance Agreement, as well as commit to more than 33.33% of the operating
capital to be charged on through-put rates.

Porphyry Copper Gold Exploration in Peru

PERU
South
Constancia
OCAÑA PROJECT:
America
LIMA The project consists of 22 concessions of over 110 square kilometres, on which
Tintaya District
Indico has an option to earn a 100% interest. It is located in the Southern Peru
Cusco Cerro Verde
Las Bambas Copper Belt, where similar porphyry copper deposits include:
Cerrro Negro
Haquira
Cuajone
Maria Reyna Toquepala Reserves of 3.4B tonnes @ 0.47% copper
Quelleveco
Ocaña Project Toquepala Quelleveco Reserves of 916M tonnes @ 0.65% copper
Zafranal
Arequipa Cuajone Reserves of 2.6B tonnes @ 0.47% copper
Cerro Verde Reserves of 3.6B tonnes @ 0.40% copper
Indico has completed 6828m of drilling on the main Zafranal porphyry system 557M tonnes @ 0.36% copper, Measured & Indicated
porphyry target at Ocaña, initially identified by remote
sensing, mapping, and geochemical sampling in 2010.
In late 2012, drilling defined shallow, flat-lying copper 241m of 0.45% CuEq 264m of 0.55% CuEq or 300m of 0.70% CuEq incl. 57m of
0.36% Cu and 0.15 g/t Au 1.53% CuEq or 1.11% Cu, 0.21 g/t Au
oxides and secondary copper sulphides overlying
higher-grade (>0.35% Cu & 0.1 g/t Au) primary Cu- 47.5m of 0.68% Cu Supergene

Au mineralization. The primary mineralization remains

open to the east and north, and at depth. The oxide
mineralization is amenable to low-cost SX/EW heap-
leach mining, which can be fast-tracked to production.
The Phase 3 drill program, estimated at approximately
4600m, will infill the area of soluble copper oxide
mineralization, leading to a preliminary resource 51m of 0.49% Cu Supergene
265m of 0.52% CuEq incl.
288m of 0.29% CuEq Hypogene
estimation. It will also define the eastern extent of the 67m of 0.35% Cu, 0.27 g/t Au

primary sulphide mineralization. Drilling is scheduled to

53.6m of 0.81% Cu Supergene
start in Q4 2013. 100m of 0.28% Cu Supergene

51m of 0.56% Cu Supergene

Total consideration to earn the 100% interest in the
Mining Concessions of the property is 8.5 million
shares and $17.75 million over a 5 year period, with
the bulk of payments (6.5M shares and $15.5 million)
alluvium, colluvium dacite porphyry Phase 1 drill holes
obligated at the end of year 5. dacite porphyry, late-mineralization diorite, diabase Phase 2 drill holes
Concessions are valid in perpetuity through a govern- phreatic & hydrothermal breccia quartz stockwork
ment annual tax of $3/ha. There are no royalties, back-
in rights, payments, or known encumbrances to the Strategic Partner
property. A mining concession in Peru grants to the
holder the right to explore and extract mineral resourc- STONE
es within the specified boundaries of the concession. HOUSE

Tel: +1.604.638.5938 | Email: [email protected] | www.indicoresources.com

 TSX-V: IDI
MARIA REYNA PROJECT:
The project is located in the Andahuaylas-Yauri Belt of skarn-porphyry deposits
in Cusco Region, Southern Peru. The property is 100km south of Cusco, and
within 10km of Hudbay’s Constancia Cu-Mo-Ag project, which is currently under
construction. Indico’s CEO, Bob Baxter, was President of Norsemont, when it was
bought out by Hudbay, for the purchase of Constancia in 2010.
The 3164 hectare concession block covers at least four significant skarn-Porphyry
systems along 10 kilometres of a northeast-trending structure, only one of which TSX-V: IDI
has been partially drill-tested. The same geology is present at several significant
deposits in the Belt, including the Las Bambas skarn-porphyry cluster, Haquira, Capitalization (as of January 1, 2014)
and the Constancia porphyry deposit (reserves of 450 million tonnes at 0.36% Cu). Shares issued: 97.7 M
The property has numerous informal mine workings in high-grade skarn deposits, Fully diluted: 159.0 M
with the most active workings in the southern concessions. In 2010 Vale covered Recent price: $0.15
less than a third of the claims with a grid of 433 rock and 165 soil samples, as well 52 week high/low: $0.21 - $0.05
as extensive ground geophysics (magnetics, radiometrics, and IP). Market capitalization: $14.6 M
The geochemical sampling defined two zones of interest: the SW Zone, with a
strong copper and molybdenum anomaly that was subsequently tested with Management & Directors
drilling, and the broader NE Zone, which remains to be drill tested. The remaining Robert Baxter
2/3 of the concession remain unexplored, but host extensive skarn mineralization President / CEO & Director
in the north end of the property, and porphyry mineralization in the SE corner of the John Drobe
concessions, which is the west extension of Panoro’s Kusiorcco porphyry target. Chief Operating Officer

Vale completed 11 diamond- drill holes (5585 metres) at Maria Reyna, targeting Directors:
skarn and porphyry mineralization at the Southwest Zone. The drilling intersected Tariq Damerji David Savage
both high-grade, shallow Cu-Mo skarn and breccia mineralization, and low-grade Patrick Evans Asgari Stephens
disseminated porphyry mineralization beneath. Brian Kerzner Henk Van Alphen
Bob Parsons Eric Wardle

Corporate Office
Indico Resources Ltd.
1010 - 1130 West Pender Street
Vancouver, BC, Canada, V6E 4A4
Corporate Communications:
Dennis Nenadic
604-398-5379
[email protected]

www.indicoresources.com
For CuEq calculations, the following variables were used:
$3.00/lb Cu, $15.00/lb Mo, $21.00/Oz Ag; no allowances
for metallurgical recoveries were made.

DISCLAIMER: Certain statements contained in this document, including,

without limitation, those concerning the economic outlook for the mining
industry, expectations regarding metal prices and production, the comple-
tion and commencement of commercial operations of certain of Indico
Resources Limited (IDI) projects, and its liquidity and capital resources
and expenditure, contain certain forward-looking statements regarding
IDI’s economic performance and financial condition. Although IDI believes
that the expectations reflected in such forward-looking statements are rea-
sonable, no assurance can be given that such expectations will prove to
* have been correct. Accordingly, results could differ materially from those
set out in the forward-looking statements as a result of, among other fac-
tors, changes in economic and market conditions, success of business
initiatives, changes in the regulatory environment and other government
actions, fluctuations in metal prices and exchange rates, and business and
operational risk management. IDI undertakes no obligation to update pub-
licly or release any revisions to these forward-looking statements to reflect
events or circumstances after the date of the annual report. All subsequent
written or oral forward-looking statements attributable to IDI or any person
acting on its behalf are qualified by the cautionary statements herein. John
Drobe is the Qualified Person, as defined by National Instrument 43-101,
for all technical content on this factsheet.

* The Company cautions that it has not had the chance to fully verify the
quality and accuracy of the relevant historic sampling and drilling results.
The historic figures were generated from sources believed to be reliable,
based on limited review of the drill core and outcrops in the field, but they
have not been confirmed by a Qualified Person, as defined by NI-43-101;
readers should therefore not rely upon them.

www.indicoresources.com