Indicator Minerals Inc.

Indicator Minerals Inc.

March 01, 2005 09:15 ET

Indicator Minerals Acquires Interest in 4 Million Acres of Nunavut Prospecting Permits


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: INDICATOR MINERALS INC.

TSX VENTURE SYMBOL: IME

MARCH 1, 2005 - 09:15 ET

Indicator Minerals Acquires Interest in 4 Million
Acres of Nunavut Prospecting Permits

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 1, 2005) - Indicator
Minerals Inc. (IME) (TSX VENTURE:IME) announced today that it will
exercise its right to an 80% interest in the diamond rights to
approximately 4.0 Million acres of Prospecting Permits located
throughout the Nunavut Territory acquired by the Hunter Exploration
Group (Hunter) in 2005.

The 2005 Permits were acquired based on regional work carried out by the
Hunter Exploration Group in 2003 and 2004. This includes approximately
2.9 Million acres on Ellesmere Island where micro-probe work on
recovered heavy mineral grains confirmed the presence of kimberlite
indicator minerals including one G-10 garnet with high chrome
composition.

IME is planning a comprehensive follow-up program of regional heavy
mineral sampling to establish the distribution of kimberlite indicator
minerals over the 2005 Permits. "Hunter's regional work has, once again,
identified new areas with compelling results", commented Bruce Counts,
President and CEO of Indicator Minerals Inc. "This demonstrates the
value of our relationship with one of Canada's most successful
generative groups."

The 2005 Permits fall under the exploration agreement between Indicator
Minerals Inc. and the Hunter Exploration Group (see news release dated
May 19, 2004) whereby Indicator Minerals Inc. has an exclusive right to
acquire an 80% interest in the diamond rights to projects identified by
Hunter.

Indicator Minerals Inc. (TSX VENTURE:IME) is a publicly traded Canadian
diamond exploration company focused on the discovery of economic diamond
deposits. The company has one of the most experienced technical teams in
junior diamond exploration and is committed to the efficient and
systematic evaluation of its projects. Indicator is exploring more than
10.5 million acres of targeted ground in the Eastern Arctic of Canada
and 750,000 prospective acres in western Botswana. The Company also has
an exclusive agreement with the Hunter Exploration Group to acquire an
interest in new diamond properties that they identify.



On behalf of the Board
Indicator Minerals Inc
/s/"Bruce Counts"
P.Geoph., President


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Indicator Minerals Inc.
    Bernie Kennedy
    Investor Relations Manager
    888-331-2269 or 604-331-2269
    http://www.indicatorminerals.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.