Indigo Reprices Options Higher and Cancels Others to Directors, Employees and Consultants

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/18/12 -- Indigo Exploration Inc. (TSX VENTURE: IXI)(FRANKFURT: INE) has repriced 665,000 incentive stock options granted to directors, employees and consultants on November 3, 2011 from an exercise price of 20 cents and currently expiring on November 3, 2016, to a new exercise price of 30 cents. The vesting provisions and expiry dates of the repriced options will remain unchanged.

In addition, the Company has cancelled 400,000 of the incentive stock options granted November 3, 2011 to some directors and consultants that were exercisable at 20 cents per share, expiring November 3, 2016.


About Burkina Faso

The Lati, Kodyel, Loto, and Moule properties lie in the West African nation of Burkina Faso. Much of West Africa is underlain by the Birimian Greenstone Belt, one of the most prolific gold producing areas in the world. Many of the world's major gold companies are active in West Africa, several with producing mines, including: IAMGOLD Corporation, AngloGold Ashanti Limited, Randgold Resources Limited, Gold Fields Limited and Newmont Mining Corporation. Burkina Faso is politically and economically stable and relies on farming and mining as it primary sources of revenue. Burkina Faso saw gold production double from 2008 to 2010 and is currently the 5th largest gold producing country in Africa.


On Behalf of the Board of Directors,

Paul Cowley, P.Geo.
Interim CEO


Paul Cowley, P.Geo., Director of Indigo Exploration Inc., is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.



Forward-Looking Statements

This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute 'forward-looking statements' and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, planned drill program or future financial or operating performance and other statements that express management's expectations or estimates of future performance.

Forward-looking statements are generally identifiable by the use of the words 'may', 'will', 'should', 'continue', 'expect', 'anticipate', 'estimate', 'believe', 'intend', 'plan' or 'project' or the negative of these words or other variations on these words or comparable terminology. All such forward-looking information and statements are based on certain assumptions and analyses made by the Company's management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to: risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, as well as those factors discussed in the sections relating to risk factors of the Company set out in the Company's MD&A filed on SEDAR.

There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.



Contacts:

Indigo Exploration Inc.

Keir Reynolds

(778) 998-9242
keir@mmadvisory.com
www.indigoexploration.com