Indicator Minerals Inc.

Indicator Minerals Inc.

December 02, 2009 09:01 ET

Indicator Minerals Expands Grail Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2009) - Indicator Minerals Inc. (TSX VENTURE:IME) today announced that it has acquired over 41,000 acres of additional mineral claims adjacent to the western boundary of its Grail Diamond Project, bringing the total project size to more than 235,000 acres.

"Grail has the key elements we look for in an early stage diamond project including high-interest kimberlite indicator minerals and compelling geophysical targets. Our work to date suggests that a diamond bearing kimberlite field may exist at Grail and extend to the newly acquired mineral claims," says Bruce Counts, President & CEO of Indicator Minerals Inc. "We have identified numerous priority targets and are now prepared to advance the property through discovery drilling in early 2010."

The Grail Project is located in the Canadian arctic approximately 80 kilometres from the tidewater community of Taloyoak. Indicator Minerals has an 80% interest in the diamond rights with the ability to acquire the remaining 20% under certain conditions. Kimberlite indicator minerals have been isolated to a discrete area of the Grail Project and are believed to originate from bodies with excellent potential for economic quantities of diamond. The property has garnered the interest of major mining companies and junior explorers.

About Indicator Minerals:

Indicator Minerals Inc. is a Canadian exploration company focused on the discovery and development of economic gemstone deposits. Founded in 2004, the Company has assembled one of the most qualified technical teams in worldwide diamond exploration. Management has positioned Indicator as a sophisticated player in both Canadian and international gemstone 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.

On behalf of the Board

Indicator Minerals Inc.

Bruce Counts, P.Geoph., President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

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