IME Indicator Minerals Inc.

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

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 11,005,055 units (the "Units") at a price of
$0.18 per Unit for gross proceeds of $1,980,909.50 (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 $0.27 per share until February 23,
2013.


Finder's fees consisting of $70,529 in cash and 391,828 non-transferable finder
warrants, representing 5% of the proceeds raised and 5% of the number of Units
issued, respectively, were paid to six 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 $0.27 per share until
February 23, 2013.


All securities issued or issuable under the Private Placement are subject to a
hold period and may not be traded until June 24, 2011 except as permitted by
Canadian securities legislation and the Exchange. Indicator intends to use the
proceeds for exploration expenditures on its Mohave Copper Project and for
general working capital and other corporate expenditures.


Indicator is also pleased to announce, subject to regulatory approval, the
appointment of Jim Paterson, B.Comm. to the Board of Directors. Jim brings a
wealth of contacts and knowledge obtained through his 15 years of corporate
experience with several mineral exploration and development companies. Mr.
Paterson founded and, from June 2007 until August 2010, was President & CEO of
Corsa Capital Ltd. Currently Mr. Paterson is the CEO of Kivalliq Energy
Corporation and is also a Director of Kaminak Gold Corporation and Niblack
Development Corporation, both resource companies listed on the TSX Venture
Exchange.


About Indicator Minerals: 

Indicator Minerals Inc. is a leading Canadian exploration company focused on the
discovery and development of economic mineral deposits. The company has
assembled one of the most qualified technical teams in worldwide exploration to
focus on advancing its early-stage Mohave Copper Porphyry project in
north-western Arizona. This under explored and largely untested project has a
compelling copper, molybdenum and silver footprint with a coincident IP anomaly
indicative of a large Copper Porphyry system. Indicator will be drilling the
property in Q2, 2011.


On behalf of the Board:

Bruce Counts, P.Geoph., President & CEO

Indicator Minerals Inc.

Indicator Minerals Inc. is a member of the Discovery Group of companies, for
more information on the group visit www.discoveryexp.com.


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.

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