Indicator Minerals Inc.

Indicator Minerals Inc.

March 04, 2010 14:00 ET

Indicator Minerals to Proceed with Colombian Emeralds

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2010) - Indicator Minerals Inc. (TSX VENTURE:IME) today announced that it has completed its Due Diligence review of Rio Verde Enterprises Inc. ("Rio Verde") and has elected to proceed with the opportunity in Colombian emeralds. Rio Verde is a private Canadian company with interests in the emerald fields of Colombia and a well established emerald exporting, marketing and sales business.

"Indicator has passed several important and exciting milestones since it began its involvement in the Colombian Emerald Industry," says Bruce Counts, President and CEO of Indicator Minerals. "Senior management has toured several operating and past producing Colombian emerald mines, we have begun geological assessment and laboratory analysis of samples taken from several of the properties visited and we have initiated negotiations with the owners of producing emerald mines and undeveloped emerald properties. Finally, we completed our initial purchase and importation of high-quality cut emeralds and have accelerated marketing and sales campaigns for the gems currently in inventory."

Rio Verde's established wholesale marketing business offers the possibility for significant near-term cash flow with very attractive margins. Furthermore, the opportunity to participate in producing emerald properties will facilitate a mine to market scenario and allow Indicator to provide the wholesale customer provenance of the emeralds it offers.

Discussions with the owners of producing emerald mines and un-developed emerald properties have begun. Business transactions that are being contemplated by the company include the outright purchase of a participating interest in operating properties, an option to acquire a participating interest through exploration and development expenditures and marketing agreements with emerald producers.

About Indicator Minerals:

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

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.

Contact Information

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