Indicator Minerals Inc.

Indicator Minerals Inc.

March 18, 2005 18:40 ET

Indicator Minerals Announces Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: INDICATOR MINERALS INC.

TSX VENTURE SYMBOL: IME

MARCH 18, 2005 - 18:40 ET

Indicator Minerals Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 18, 2005) - Indicator
Minerals Inc. (the "Company") (TSX VENTURE:IME) announces that it will
be seeking approval from the TSX Venture Exchange to complete a
non-brokered private placement of up to 150,000 units at a price of
$0.30 per unit for gross proceeds of $45,000. Each unit will be
comprised of one common share and one-half of one share purchase
warrant, each whole share purchase warrant exercisable for one common
share at a price of $0.45 per share for a period of two years.

The proceeds of the private placement will be used for working capital.
A finders fee may be paid as part of this Private Placement.

Indicator Minerals Inc. (TSXV: IME) is a publicly traded Canadian
diamond exploration company focused on the discovery of economic diamond
deposits. The company is exploring more than seven million acres of
targeted ground in the Eastern Arctic and has an exclusive agreement
with the Hunter Exploration Group to identify and acquire new
properties. Indicator has experienced management that is technically
driven and committed to the efficient and systematic evaluation of its
projects.



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
    Website: www.indicatorminerals.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release