Indicator Minerals Announces Intention to Extend Warrant Expiry Dates

VANCOUVER, BRITISH COLUMBIA -- Nov. 13, 2007 - Indicator Minerals Inc. ("IME" or "Indicator") (TSX VENTURE: IME) announced today that it intends to apply to the TSX Venture Exchange to extend the warrant expiry dates of 4,683,500 common share purchase warrants issued as part of the issuance of units in connection with a private placement completed by the Company on May 15, 2006. Each warrant was originally exercisable for one common share until November 15, 2007 at a price of $0.65 per share during the first nine months and $0.75 during the second nine months.

Application will be made to the TSX Venture Exchange to extend the expiry dates of all of the warrants to May 15, 2008. Other than the extension of the warrant expiry dates, the remaining attributes of the warrants, including the exercise price of $0.75 per share to the date of expiry, will remain the same.

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
Toll Free: 1-877-331-4605 or (604) 331-4605

Indicator Minerals Inc.
Lisa May
Manager, Corporate Communication
Toll Free: 1-877-331-4605 or (604) 331-4605
Fax: (604) 331-4654
Website: www.indicatorminerals.com

RENMARK FINANCIAL COMMUNICATIONS INC.
JASON ROY : JROY@RENMARKFINANCIAL.COM
CHRISTINE STEWART : CSTEWART@RENMARKFINANCIAL.COM
TEL. : (514) 939-3989
FAX : (514) 939-3717
WWW.RENMARKFINANCIAL.COM