CKB

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Calico Resources Corp. (TSX VENTURE:CKB) (the "Company" or "Calico") announces
that it has entered into an agreement with Stonecap Securities Inc. ("Stonecap")
in connection with a marketed, best efforts private placement of up to
14,750,000 units (the "Units") from treasury at a price of $0.34 per Unit for
gross proceeds of up to $5,015,000 (the "Offering"). Each Unit shall consist of
one common share of the Company and one-half of one common share purchase
warrant (a "Warrant"), with each whole Warrant entitling the holder thereof to
acquire one common share of the Company at $0.50 for 24 months following closing
of the Offering.


The Company also grants Stonecap an option to purchase up to an additional 15%
of the Units exercisable up to 48 hours prior to closing of the Offering for
additional gross proceeds of up to $752,250.


The net proceeds of the Offering will be used for exploration and development at
the Company's Grassy Mountain project, working capital and general corporate
purposes.


The Offering will be made by way of private placement to accredited investors in
all provinces of Canada. The Offering is expected to close on or about April 19,
2012, and is subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval of the TSX Venture
Exchange and the relevant securities regulatory authorities. The Units will be
subject to a four-month hold period.


On behalf of the Board,

William S. Wagener, President and CEO 

This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended, or any state securities laws and may not be offered or sold within
the United States or to U.S. Persons unless an exemption from such registration
is available. 


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.

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