Calico Resources Announces Leadership Changes

VANCOUVER, Feb. 8 /CNW/ - Calico Resources Corp (formerly Cobre Exploration Corp.) (TSX-V: CKB) (the "Company") is pleased to announce the following changes and appointments to the leadership team. "The leadership additions enacted by the Board add depth to the management team, are key to the execution of the Company's strategy and reunited a team with a proven track record of exploration, development and operational success" said Mr. Arden Morrow, Executive Chairman. The changes are detailed below.

Mr. Allan Williams has resigned as President of the Company and Mr. David McCue has resigned as Corporate Secretary. Calico Resources is delighted that Mr. Williams will remain on the Board of Directors. We sincerely appreciate their services and contributions during the Company's recapitalization and graduation to Tier 2.

Mr. William S. Wagener, currently Chief Operating Officer, has been appointed to the positions of President and Chief Executive Officer of the Company. Mr. Wagener served the Company well as COO and we are very pleased to have him take the lead at Calico Resources. Mr. Wagener was most recently, employed by Northland Resources as the CFO/Business Manager from 2005 to 2007 and as COO of the European Operations until July 2010.  Previously, Mr. Wagener worked for Atlantic Richfield (ARCO) for 19 years where he held various engineering, supervisory and executive positions at a number of underground and surface coal operations in the US and internationally.  During the last five years of his ARCO career, Mr. Wagener served as the President of ARCO Coal Australia Inc. and was located in Brisbane, Australia.  The Australian operations consisted of two surface mines and one underground mine which produced a combined 20 million tonnes of coal per year in total. He earned a B.Sc. in Mining Engineering from the University of Missouri Rolla.

Mr. Vance V. Thornsberry has accepted the position of Vice President of Exploration. He is a Registered Professional Geologist with over 35 years of domestic (US) and international experience in the mining and exploration industry. Mr. Thornsberry has held executive, managerial and technical roles for a number of companies. He has a strong technical background in both precious and base metals and his expertise ranges from early stage exploration through production. Mr. Thornsberry has been a contributing team member of three precious metal discoveries. Most recently he was employed by Northland Resources as Vice President of Exploration, where he was instrumental in the identification, acquisition and exploration of the Pajala Shear Zone IOCG properties in Sweden and Finland, a 1B tonne iron resource that is currently proceeding to development. Mr. Thornsberry is currently on the board of Timberline Resources Corp and is a member of the SME, SEG, NWMA, a PG in the states of WA and WY and a QP in Canada.

Miss Terri Anne Welyki has been promoted to Vice President of Corporate Development. Miss Welyki has over 10 years experience working with publicly listed companies across various industries and has a proven record in sales and project management.  Her experience spans multiple domains, including business ownership, management and administration in high-tech, financial sector, and also media work related to the sports industry. Her network includes well developed contacts in North America, South America and Europe.

Calico Resources Corp is confident that these management additions and changes will accelerate the execution of the Company's strategy to acquire a pipeline of quality assets ranging from near term production to exploration.

In behalf of the Board,

"Mr. Arden Morrow"
Executive Chairman

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.


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