Indicator’s drill program at Barrow

Indicator Minerals Inc. has initiated the 2008 field program on the Barrow Project.

Crews and equipment have been mobilised to the Barrow Property to commence the first phase of the 2008 drilling program. The focus of this six-week program is to test between eight and ten targets that are located within lakes and must be drilled from ice. A second phase of drilling to test land-based kimberlite targets is scheduled to start in August of this year.

Recent laboratory results from detailed heavy mineral sampling conducted in 2007 have returned kimberlite indicator minerals with compelling chemical compositions - pyrope garnets with preserved kelyphite surface features; interpreted, these features indicate a source located on the property as they do not survive well in a glaciated environment. In 2005, Indicator discovered a kimberlite boulder on the Barrow Property that yielded 176 diamonds from 25.5kg of material.

The data suggests that the Barrow Project hosts diamondiferous kimberlites, says Bruce Counts, President and CEO of Indicator Minerals Inc. We are eager to begin the 2008 drilling program and make our first discovery on the property, he said.

Indicator owns an 80% interest in Barrow, which includes more than 110,000 acres of mineral claims. The project is located approximately 15 kilometres south of the tide water community of Kugaaruk in Nunavut Territory and the northern boundary of the property can be accessed by an all-weather road. All exploration work is based out of the community and supported by local infrastructure which lowers operating and capital costs on the project. Hunter Exploration retains a 20% interest in the Project.

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