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Calico To Optimize Gold and Silver Recoveries for Grassy Mountain

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VANCOUVER, March 5, 2012 /PRNewswire/ - Calico Resources Corp. (TSX-V: CKB, OTCQX: CVXHF) (the "Company" or "Calico") reports that the metallurgical test work it has commissioned Resource Development Inc. (RDi) to perform is designed to confirm gold recoveries at Grassy Mountain of up to 95% (see release January 18, 2012) and to explore flowsheet alternatives which will provide the best set of project economics going forward. "The purpose of the next phase of metallurgical testing is to compare a number of flowsheet alternatives in order to narrow the plant design options for Grassy Mountain and to optimize the economics of the project, including silver recoveries", commented Bill Wagener, Calico's President and CEO.

Calico has submitted a sample of approximately 375 kilograms (830 pounds) of core, rock and cuttings from the 2011 exploration program in order to provide material for bench scale testing of several mineral processing options available based on the conclusions derived from the earlier studies.

Bench scale testing of Grassy Mountain material will include initial grindability testing, gravity separation efficiency and circuit design, possible re-grinding requirements, froth floatation effectiveness, closed circuit leaching efficiency.  The testing will for the first time evaluate various methods for silver recovery.  Initial bench testing is expected to take approximately eight weeks with full results in three to four months.

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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