IME Indicator Minerals Inc.

Indicator Minerals Inc. (the "Company") (TSX VENTURE:IME) announced today that
it has completed its previously announced non-brokered private placement of
units.


At the closing Indicator issued 9,000,000 units (the "Units") at a price of
$0.08 per Unit for gross proceeds of $720,000 (the "Private Placement"). Each
unit is comprised of one common share and one transferable share purchase
warrant of the Company (the "Warrants"). Each Warrant is exercisable to purchase
one common share of the Company at a price of $0.12 per share until October 29,
2012, subject to an acceleration provision in the event the closing price of the
Company's shares on the TSX Venture Exchange (the "Exchange") is $0.16 or higher
for at least 10 consecutive trading days beginning after March 1, 2011.


Finder's fees consisting of $40,250 in cash and 503,125 non-transferable finder
warrants, representing 7% of the proceeds raised and 7% of the number of Units
issued, respectively, were paid to seven finders in respect of certain
subscriptions under the Private Placement. Each finder warrant is exercisable to
purchase one common share of the Company at a price of $0.15 per share until
October 29, 2012.


All securities issued or issuable under the Private Placement are subject to a
hold period and may not be traded until March 1, 2011 except as permitted by
Canadian securities legislation and the Exchange.


Indicator intends to use the proceeds for exploration expenditures on its
properties and for general working capital and other corporate expenditures.


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 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

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