Indicator Minerals Inc.

Indicator Minerals Inc.

August 16, 2007 12:30 ET

Indicator Minerals Warrants Exercised

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 16, 2007) - Indicator Minerals Inc. ("IME" or "Indicator") (TSX VENTURE:IME) announced today that the first tranche of warrants priced at 35 cents from the August 2005 Private Placement were exercised in their entirety prior to the August 12th deadline.

Bruce Counts, President and CEO of Indicator, stated, "In this difficult market, we are delighted to see the commitment from our existing shareholder base, and are confident that the remaining warrants from the second closing will be exercised in their entirety also."

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 4.3 million acres of targeted ground in the Canadian arctic and has three key projects in Nunavut: Darby, Barrow and Grail. 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
    Indicator Minerals Inc.
    Lisa May
    Manager, Corporate Communication
    1-877-331-4605 or (604) 331-4605