Indicator Minerals Increases Size of the Mohave Copper Porphyry Target

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 26, 2011) - Indicator Minerals Inc. (TSX VENTURE:IME) today announced that initial results from an Induced Polarization (IP) survey at its 100% owned Mohave Copper Porphyry Project located in northwest Arizona have significantly extended the previously identified chargeability anomaly.

"The results of the 2011 IP survey extension are tremendously encouraging since they provide further evidence that Mohave has the potential to host a very large tonnage copper porphyry deposit," says Bruce Counts, President and CEO of Indicator. "The chargeability anomaly now covers an area of 1820 acres (735 hectares) adding 68% to the size of the 2008 chargeability anomaly which was open to the south and west."

Click here to view the IP Survey and chargeability anomaly or visit www.indicatorminerals.com/i/pdf/IME_NR_110425.pdf

IP surveys are the primary geophysical tool used to define the extent of the sulphide mineralization within a copper porphyry deposit. This survey included the collection of more than 47 line-km of additional data using a 400ft dipole and extended the existing survey to the south and west where the chargeability anomaly remained open.

As announced on April 19, 2011, the first 5,000 m phase of the Mohave core drilling program is currently underway. This first phase is designed to test up to four spatially distinct areas of the property. A second phase of drilling will follow-up on phase one results and is scheduled for Q3/Q4, 2011

The Mohave Project is located in north-western Arizona and is interpreted as a large-scale, copper porphyry deposit. Exploration work has identified extensive copper, molybdenum and silver mineralisation over a large area of the project coincident with an Induced Polarisation (IP) anomaly, favourable alteration and complimentary structural features. The geology of the Mohave Project is believed to be analogous to the Freeport McMoRan Bagdad Copper Porphyry Mine, which is located within 35km of the property.

Mr. Bruce Counts, P.Geoph., President & CEO of Indicator, is a Qualified Person under NI 43-101 and is responsible for the design and execution of the programs carried out by Indicator on the Mohave property.

About Indicator Minerals:

Indicator Minerals Inc. is a leading Canadian exploration company focused on the discovery and development of economic mineral deposits. The company has assembled one of the most qualified technical teams in worldwide exploration to focus on advancing its early-stage Mohave Copper Porphyry project in north-western Arizona.

Indicator Minerals Ltd. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com

Cautionary Notice: This release may contain forward-looking statements regarding the Company's business or financial condition, including the proposed completion of financings, use of proceeds and exploration programs. Actual results could differ materially from those described in this news release as a result of factors, including, but not limited to the following: the timing and completion of financings, the actual use of proceeds, the timing, results and success of exploration and development programs, financial arrangements, the ability to obtain additional financing, developments in global resource markets, political developments, the timing of regulatory and environmental approvals and other factors. The Company cautions that these and similar statements involve risk and uncertainties, which could cause actual results to differ materially from those in the forward looking statement. Forward–looking statements are made in the context of information available as of the date stated. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.

On behalf of the Board

Indicator Minerals Inc.

Bruce Counts, P.Geoph., President & CEO