Calico Resources Corp. (fka CVXHF)

[shermann7]

Buck Morrow CEO of Calico Testifies at Public Hearing for the permitting of Grassy Mountain Project

http://calicoresources.com/press-releases/press-release-september-5-2012

Vancouver Sept 5, 2012: Calico Resources Corp. (TSX-V: CKB, OTCQX: CVXHF) (the ”Company”) or “Calico”) is pleased to announce that the first public hearing on the Grassy Mountain “Oregon Consolidated Application and Permitting Process” was very positive and well attended. Approximately 24 members of the Project Coordinating Committee (PCC), representing State, Federal and County Agencies participated in the meeting, along with 75-80 members of the general public consisting of interested citizens, community leaders, stakeholders and non-governmental organizations (NGO’s). All formal testimony from the public comment portion of the meeting was supportive of Calico and the Grassy Mountain Project.

The meeting was held in Ontario, Oregon on August 14, 2012, in the commercial center of Malheur County, Eastern Oregon, easily accessible for all stakeholders and interested parties. The meeting was chaired by Gary Lynch, Assistant Director, DOGAMI (Oregon Department of Geology and Mineral Industries). Mr. Lynch gave an overview of DOGAMI, its role as the lead agency in the consolidated application process and summarized the current status of the Grassy Mountain permitting. Mr. Larry Knudsen, Senior Assistant Attorney General, Oregon Department of Justice, presented an overview of Division 37 Chemical Process Mining Law, rules and regulations facilitating mine permitting in Oregon and the role of the PCC during the permitting process.

Mr. Arden “Buck” Morrow, President and CEO, assisted by Vance Thornsberry, VP Exploration and Rick Richins, Environmental Coordinator gave a presentation introducing the audience to Calico and the Calico team, the Grassy Mountain conceptual mine plan and processing facility, Calico’s vision for the project and the Company’s plans moving forward through the permitting phase. Buck Morrow stated at the meeting “Calico feels the consolidated application process under Division 37 is well structured, offers transparency and contains clear guidelines and a timetable amenable to moving the project forward in a timely and efficient manner.”

On August 15th Calico organized a site tour of the Grassy Mountain Project for the PCC, members of the community and NGO’s. Mr. Morrow and Thornsberry provided information on geology, mining, processing and infrastructure. A special guest, Skip Yates P.G., the discoverer of Grassy Mountain, discussed how the deposit was first discovered 30 years ago. “We are very pleased with the positive feed-back from the PCC on the site visit; boots-on-the ground perspective is invaluable, said Vance Thornsberry.”

About Grassy Mountain

The Grassy Mountain Project contains NI 43-101 compliant (see March 29, 2012 Technical Report) Indicated resources of 1,271,300 ounces of Au in 37,471,000 tonnes averaging 1.055 g/t at a 0.34 g/t cutoff and Inferred resources of 305,600 ounces of Au in 15,733,300 tonnes averaging 0.604 g/t at a 0.34 g/t cutoff. Contained in the resource above, is a higher grade NI 43-101 compliant resource suitable for underground mining with Indicated resources of 540,200 ounces Au in 3,195,400 tonnes averaging 5.258 g/t at a 2.06 g/t cutoff and Inferred resources of 58,500 ounces Au in 302,600 tonnes averaging 6.010 g/t at a 2.06 g/t cutoff.

Qualified Person

Michael McGinnis, Calico’s Exploration Project Manager, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this release.

On behalf of the Board,

Arden (Buck) Morrow

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.”

For more information please call:

Terri Anne Welyki

Vice-President of Corporate Development

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