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Independent Spirit Awards:
The 12th Independent Spirit Awards, honoring excellence in independent film, took place on March 22, 1997 under a tent on Santa Monica beach.
| Feature | Fargo |
| First Feature | Billy Bob Thornton, Sling Blade |
| Male Lead | William H. Macy, Fargo |
| Female Lead | Frances McDormand, Fargo |
| Supporting Male | Benicio Del Toro, Basquiat |
| Supporting Female | Elizabeth Pena, Lone Star |
| Debut Performance |
| Director | Joel Coen, Fargo |
| Screenplay | Joel Coen and Ethan Coen, Fargo |
| First Screenplay | Joseph Tropiano and Stanley Tucci, Big Night |
| Cinematography | Roger Deakins, Fargo |
| Foreign Film | Secrets and Lies |
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