Indicator Minerals Announces $400,000 Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES.

Indicator Minerals Inc. (the "Company") (TSX VENTURE:IME) today announced that
it intends to complete a non-brokered private placement of up to $400,000,
comprised of units at a price of $0.08 per unit, subject to TSX Venture Exchange
approval.


Each unit will consist of one common share and one common share purchase
warrant. Each common share purchase warrant will be exercisable into one common
share for a period of 24 months from closing at a price of $0.12 per share,
subject to an acceleration provision in the event the closing price of the
Company's shares on the Exchange is $0.16 or greater for at least 10 consecutive
trading days.


All securities issued in the private placement will be subject to a four-month
hold period from the closing of the private placement. The Company may pay
finder's fees in connection with the private placement. The Company intends to
use the proceeds of the private placement to advance Indicator's exploration
properties and for general working capital purposes.


About Indicator Minerals:

Indicator Minerals Inc. is a Canadian exploration company focused on the
discovery and development of economic mineral deposits. Founded in 2004, the
Company has assembled one of the most qualified technical teams in worldwide
exploration. Management has quickly positioned the Company to be a sophisticated
player in both Canadian and international exploration by forming strategic
partnerships, acquiring highly prospective properties and conducting systematic
and efficient exploration programs.


Cautionary Notice: This release may contain forward-looking statements regarding
the Company's business or financial condition, including the proposed completion
of financings, use of proceeds and exploration programs. Actual results could
differ materially from those described in this news release as a result of
factors, including, but not limited to the following: the timing and completion
of financings, the actual use of proceeds, the timing, results and success of
exploration and development programs, financial arrangements, the ability to
obtain additional financing, developments in global resource markets, political
developments, the timing of regulatory and environmental approvals and other
factors. The Company cautions that these and similar statements involve risk and
uncertainties, which could cause actual results to differ materially from those
in the forward looking statement. Forward-looking statements are made in the
context of information available as of the date stated. The Company undertakes
no obligations to update or revise such statements to reflect new circumstances
or unanticipated events as they occur, unless required by applicable law.


On behalf of the Board

Indicator Minerals Inc.

Bruce Counts, P.Geoph., President & CEO

Indicator Minerals Inc. (TSXV:IME)
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