Indicator Minerals Closes Final Tranche of Private Placement

Indicator Minerals Inc. ("Indicator" or the "Company") (TSX VENTURE:IME)
announced today that it has completed the final tranche of its previously
announced non-brokered private placement of flow-through and non-flow-through
units. 


At the closing Indicator issued 2,037,500 non-flow-through units (the "Units")
at a price of $0.12 per Unit for gross proceeds of $244,500 (the "Private
Placement"). Each Unit is comprised of one non-flow-through common share and one
transferable share purchase warrant of the Company (the "Warrants"). Each
Warrant is exercisable to purchase one common share of the Company at a price of
$0.16 per share until July 14, 2012, subject to an acceleration provision in the
event the closing price of the Company's shares on the TSX Venture Exchange (the
"Exchange") exceeds $0.24 for at least 10 consecutive trading days.


Finder's fees consisting of $714 and 5,950 non-transferable broker warrants,
representing 7% of the proceeds raised and 7% of the number of Units issued,
respectively, were paid to a finder in respect of a subscription under the
Private Placement. The broker warrants have the same terms as the Warrants
(except as to transferability). 


All securities issued or issuable under the Private Placement are subject to a
hold period and may not be traded until November 15, 2010 except as permitted by
Canadian securities legislation and the Exchange.


A total of $1,744,500 gross proceeds were raised by Indicator pursuant to the
private placement of flow-through and non-flow-through units. Indicator intends
to use the proceeds to conduct exploration on the Company's properties in
Nunavut and, as to non-flow-through proceeds, for general working capital. 


Cautionary Notice: This release may contain forward-looking statements regarding
the Company's business or financial condition, including use of financing
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

Indicator Minerals Inc. (TSXV:IME)
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