Indicator Minerals Inc.

Indicator Minerals Inc.

November 29, 2006 09:30 ET

Indicator Minerals Appoints Mark Fields to Board of Directors

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 29, 2006) - Indicator Minerals Inc. (TSX VENTURE:IME) announced today the appointment of Mark Fields to the Board of Directors of the Company.

Mr. Fields brings more than 20 years of experience in mineral exploration and development to Indicator Minerals' Board of Directors. Mr. Fields was Executive Vice President and Director of Pine Valley Mining Corporation which developed a metallurgical coal project from trial mining to commercial production. As Vice President of Copper Ridge Explorations Inc. he was responsible for all aspects of the company's corporate affairs as well as technical direction of its precious and base metal projects in the Yukon and Alaska. In addition, Mr. Fields was involved in the $44 million sale of a junior gold explorer to Kinross Gold Corporation and participated in the successful acquisition, exploration and development of the Diavik Diamond Mine on behalf of the Rio Tinto Group. Mr. Fields holds an honours degree in Commerce from Queen's University, a Bachelor of Science in Geology from the University of British Columbia and presently serves on the board of Copper Ridge Explorations Inc.

"We are privileged to have a person of Mr. Field's depth join the Indicator board as an independent director," said Bruce Counts, President and Chief Executive Officer of Indicator Minerals Inc. "Mark's extensive experience in exploration and development of coal, gold, base metal and diamond projects will be a tremendous asset to the company."

Indicator's board of directors have granted 150,000 incentive stock options pursuant to the Indicator Minerals Inc. shareholder-approved stock option plan to Mr. Fields, exercisable for up to five years at a price of $0.40 per share. The options granted will be subject to any applicable regulatory hold periods.

Indicator Minerals Inc. is a Canadian exploration company focused on the discovery of economic diamond deposits. Founded in 2004, the company has assembled a highly qualified technical team, experienced in worldwide diamond exploration. Indicator is exploring more than six million acres of targeted ground in the Canadian arctic and has two key projects in the Franklin District of Nunavut: Darby and Barrow. Indicator's management has positioned the company to be a sophisticated player in both Canadian and international diamond exploration by forming strategic partnerships, acquiring highly prospective properties and conducting systematic and efficient exploration programs.

On behalf of the Board

Indicator Minerals Inc.

Bruce Counts, P.Geoph., President & CEO

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

Contact Information

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