Indicator Minerals Inc.

Indicator Minerals Inc.

November 12, 2008 09:00 ET

Indicator Minerals: Change in Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2008) - Indicator Minerals Inc. (the "Company") (TSX VENTURE:IME) announced today that Mr. Grant Lockhart has tendered his resignation as a Director of the Company, effective November 5th, 2008.

Mr. Lockhart's years of diamond exploration experience as well as his track record of discovery and project management have been an invaluable asset to Indicator's Board of Directors. In his role as a Director, Grant helped to develop and implement the Company's exploration strategy. Mr. Lockhart will continue to consult for and advise Indicator on technical matters.

"I would personally like to thank Mr. Lockhart for his 3.5 years of service on the board and for the contribution he has made to Indicator's strategic direction. I am pleased that he will continue in his role as a consultant and senior technical advisor," commented Indicator Minerals' President and CEO, Bruce Counts.

About Indicator Minerals:

Indicator Minerals Inc. is a Canadian exploration company focused on the discovery and development 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 5.5 million acres of targeted ground in the Canadian arctic and has three key projects in Nunavut: Darby, Borden and Nanuq North. 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. Indicator is a member of the Discovery Group of Companies.

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

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