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VANCOUVER, Oct. 12, 2012 /CNW/ - Calico Resources Corp. (the "Company" or "Calico") is pleased to announce the closing of its non-brokered private placement originally announced on September 7, 2012. The Company issued 3,321,000 units at a price of $0.25 per unit. The total gross proceeds raised in this placement amount to CDN$830,250.00. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant is exercisable into one additional common share at a price of $0.40 per share for a period of two years, expiring October 12, 2014. The Company paid a cash finder's fee of $36,837.50 in connection with the private placement to certain parties who were instrumental in introducing investors to the Company.  In addition, The Company issued 147,350 Finders Warrants, exercisable for a period of two years into one common share at a price of $0.40 per share, expiring October 12, 2014. All securities issued by the Company in connection with the private placement are subject to a statutory hold period and may not be traded until February 13, 2013. 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. In addition, effective October 2, 2012, Calico has retained San Diego Torrey Hills Capital, Inc. ("Torrey Hills") to act as investor relations consultants to the Company. Torrey Hills is a leading investor and financial public relations firm specializing in small and micro-cap companies, primarily in the natural resource sector. Torrey Hills will increase awareness about Calico through its established relationships with investment professionals, investment advisors, and money managers focused on the microcap market space. This will allow Calico to build and maintain an informed investor audience in both the U.S and Canadian marketplace. Torrey Hills will also develop a profile on Calico for coverage on its website, www.babybulls.com, a website developed to showcase and provide exposure for emerging micro-cap companies to an audience of proven micro-cap investors. The Company also announces the grant of an aggregate 220,000 incentive stock options to various consultants, pursuant to its incentive stock option plan.  These options are exercisable for a period of three years from the date of grant at a price of $0.40 per share Torrey Hills currently has no direct or indirect interest in the securities of Calico, or any right or intent to acquire such an interest except pursuant to the exercise of the above referenced Options. The appointment of Torrey Hills as an investor relations consultant of Calico and the granting of the Options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange. 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. Calico Resources Corporation CONTACT: Terri Anne Welyki - Vice-President of Corporate Development -604-681-6855.

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