IME Indicator Minerals Inc.

Indicator Minerals Inc. (TSX VENTURE: IME) today announced that it has completed the previously announced acquisition of all of the issued and outstanding shares of Bluestone Resources Inc., a private company with a 100% interest in the drill-ready Mohave Copper Porphyry Project, Arizona.

"This is an exciting acquisition for Indicator," says Bruce Counts, President and CEO of Indicator. "There is strong evidence to suggest that the Mohave Project hosts a large copper porphyry deposit. We are eager to commence drilling and preparations for a 4,000-metre core-drilling program are underway."

The Mohave Project is located in north-western Arizona and is interpreted as a large-scale, copper porphyry deposit with significant amounts of silver and molybdenum. Exploration work conducted by Bluestone has identified extensive copper mineralisation over a large area of the project with a coincident Induced Polarisation (IP) anomaly and complimentary structural features. The geology of the Mohave Project is believed to be analogous to the Bagdad Copper Porphyry Mine, which is located within 30km and along the same structural trend.

Upon closing of the acquisition, Indicator issued an aggregate of 5,000,040 common shares to former Bluestone shareholders, representing approximately 4.7% of its issued and outstanding shares upon completion.

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

Neither the 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.

Contacts: Indicator Minerals Inc. Bruce Counts President & CEO (604) 331-4605 or Toll Free: 1-877-331-4605 (604) 331-4654 (FAX) www.indicatorminerals.com