Calico Awards Three Contracts to Advance Grassy Mountain Gold Project

VANCOUVER, Jan. 5, 2012 /PRNewswire/ - Calico Resources Corp. (TSX-V: CKB, OTCQX: CVXHF) (the "Company" or "Calico") has awarded three independent consulting contracts designed to advance key aspects of the Grassy Mountain Project development including; management of the environmental and permitting activities, commissioning of a 2012 NI 43-101 Resource Report and evaluation of the historic metallurgical test work.  Work commenced on these activities in December of 2011 in order to accelerate the delivery of key development-stage milestones into the 1st Quarter of 2012.  "Management has done an excellent job of evaluating and acquiring the high-quality external resources it needs to progress the Grassy Mountain Project in a timely manner" said Buck Morrow, Chairman.

RTR Resource Management Inc. (RTR) has been commissioned to manage the permitting processes and oversee all aspects of the environmental and data collection necessary for the acquisition of the requisite operating permits on behalf of the Company.  About RTR - RTR, located in Boise, Idaho, was involved in the industry/governmental cooperative rule making for the Oregon Division 37 "Chemical Process Mining" and has over 30 years of experience in mining, NEPA, permitting of resource development projects, water quality planning, environmental audits, industrial waste management and marketing.  Activities have included design of environmental baseline studies for mining projects, EIS management, project permitting, project feasibility studies, transportation and infrastructure assessments, waste management, land use and public involvement.

Gustavson Associates, LLC (Gustavson) have been commissioned to deliver, and act as the Qualified Person (QP), an updated NI 43-101 Resource Report which incorporates the highly positive 2011 exploration results with the historic exploration. The focus of this report is delineating the high-grade underground zone contained within the global gold resource.  About Gustavson - Gustavson has more than 27 years of experience in the mining business, specializing in minerals and hydrocarbon exploration, production, and evaluation. The Company works throughout North America and internationally. In the minerals sector, their experience and capabilities focus on evaluation of exploration opportunities, computerized mineral resources and reserves estimation, project financing, due diligence, feasibility studies, appraisals and valuations, and qualified person reports.

Resource Development Inc. (RDi) has been commissioned to review the historic metallurgical test work, provide commentary for the 2012 NI 43-101 Resource Report and propose final metallurgical test work. About RDi - RDi was established in 1990 to fill the worldwide mining industry's growing need for high-quality, cost-effective, and timely technical and consulting services. RDi has a well-equipped, state-of-the-art laboratory located in Wheat Ridge, Colorado, USA.  RDi's highly qualified staff and associates have laboratory, pilot-plant, and field experience that combine to offer a unique perspective on mineral industry operations. 

On behalf of the Board,

William S. Wagener
President and 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."


SOURCE Calico Resources Corporation



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