Indicator Engages Rockandel Holdings for Investor Relations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 7, 2011) -

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

Indicator Minerals Inc. (TSX VENTURE:IME) is pleased to announce that it has engaged Rockandel Holdings Inc. to provide investor relations services for the Company.

The principal of Rockandel Holdings Inc., Andrew Rockandel, is an experienced finance and communications executive with an extensive corporate development and investor relations background with Kadenwood Ventures and The Northair Group among others. Mr. Rockandel and Rockandel Holdings are each arm's length parties to the Company and have advised the Company that they do not have any direct or indirect interest in the Company. 

Effective January 4, 2011, Rockandel will provide the services of Mr. Rockandel as Manager, Investor Relations for a minimum 6 month period, following which the engagement may be terminated by either party. The Company will pay to Rockandel Holdings a base fee of $6,000 per month during the term of the engagement. 350,000 Indicator options will also be granted directly to Mr. Rockandel. These incentive stock options are exercisable at a price of $0.16 per share and will vest as to 25%, on each of April 5, 2011, July 5, 2011, October 5, 2011 and January 5, 2012, terminating five years after the grant date, January 5, 2016. Any shares issued on exercise of these options will be subject to a hold period of four months from the grant date of the options. The primary focus of investor relations is to introduce Indicator Minerals to the investment community including investment advisors, sell side analysts and institutional investors.

Indicator continues to make preparations to drill its north-western Arizona, Mohave Copper Project that is interpreted as a large-scale, copper porphyry deposit with significant amounts of silver and molybdenum.

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.

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

On behalf of the Board

Indicator Minerals Inc.

Bruce Counts, P.Geoph., President & CEO

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.