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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2011) -



NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES



Indicator Minerals Inc. (the "Company") (TSX VENTURE:IME) today announced that, subject to TSX Venture Exchange approval, it has increased the size of its previously announced private-placement offering from 5.55 million units to up to 11.0 million units at a price of $0.18 per unit, for gross proceeds of up to $1,980,000. All other terms contained in the previous announcement remain unchanged.



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 Northwestern Arizona. This under explored and largely untested project has a compelling copper, molybdenum and silver footprint with a coincident IP anomaly indicative of a large Copper Porphyry system. Indicator will be drilling the property in Q2, 2011.


Indicator Minerals Inc. is a member of the Discovery Group of companies, for more information on the group visit



On behalf of the Board



Indicator Minerals Inc.



Bruce Counts, P.Geoph., President & CEO




FOR FURTHER INFORMATION PLEASE CONTACT: Bruce Counts
Indicator Minerals Inc.
President & CEO
(604) 331-4605
(604) 331-4654 (FAX)
http://www.indicatorminerals.com/">www.indicatorminerals.com