Calico Announces a $872,000 Private Placement Financing

VANCOUVER, March 28, 2013 /PRNewswire/ - Calico Resources Corp. (TSX-V: CKB, OTCQX: CVXHF) ("Calico" or "the Company") announces a non-brokered private placement of up to 5,450,000 units of the Company (the "Units") at a price of $0.16 per Unit.  Each Unit will consist of one common share and one-half of one transferable share purchase warrant ("Warrant").  Each full Warrant will entitle the holder to purchase one additional common share of the Company for a period of two years from the closing date of the financing ("Closing"), at an exercise price of $0.28 per common share. No finder's fees or commissions will be payable in respect of this financing.

The private placement is subject to receipt of applicable regulatory approvals, including acceptance of the TSX Venture Exchange.

The net proceeds from the Offering will be used for exploration and development on the Company's Grassy Mountain Project and for general working capital.

On behalf of the Board,

Arden B. Morrow
President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations.  All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and other future plans and objectives, are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements.  Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound.

SOURCE Calico Resources Corporation