The Future of Diamond Exploration

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Forward Looking Statements

This presentation may contain “forward-looking statements.” These forward-looking statements are made as of the date of the PowerPoint presentationand Indicator Minerals Inc does not intend and does not assume any

This presentation may contain “forward-looking statements.” These forward-looking statements are made as of the date of the PowerPoint presentationand Indicator Minerals Inc does not intend and does not assume anyand Indicator Minerals Inc. does not intend, and does not assume anyobligation, to update these forward-looking statements. Forward-lookingstatements include, but are not limited to, statements with respect to thetiming and amount of estimated future exploration, success of explorationactivities, expenditures and requirements for additional capital.

and Indicator Minerals Inc. does not intend, and does not assume anyobligation, to update these forward-looking statements. Forward-lookingstatements include, but are not limited to, statements with respect to thetiming and amount of estimated future exploration, success of explorationactivities, expenditures and requirements for additional capital.

Forward-looking statements involve known and unknown risks, uncertaintiesand other factors which may cause the actual results, performance orachievements of the Company to be materially different from any future

Forward-looking statements involve known and unknown risks, uncertaintiesand other factors which may cause the actual results, performance orachievements of the Company to be materially different from any futureachievements of the Company to be materially different from any futureresults, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related toactual results of current exploration activities; changes in project parametersas plans continue to be refined; the ability to enter into joint ventures or toacquire or dispose of property interests; future prices of mineral resources;

achievements of the Company to be materially different from any futureresults, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related toactual results of current exploration activities; changes in project parametersas plans continue to be refined; the ability to enter into joint ventures or toacquire or dispose of property interests; future prices of mineral resources;acquire or dispose of property interests; future prices of mineral resources;accidents, labour disputes and other risks of the mining industry; ability toobtain financing; and delays in obtaining governmental approvals orfinancing.

acquire or dispose of property interests; future prices of mineral resources;accidents, labour disputes and other risks of the mining industry; ability toobtain financing; and delays in obtaining governmental approvals orfinancing.

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What Does Indicator Offer the Investor?

Indicator is an exploration company focused on discovery and development of high-value diamond deposits in North AmericaIndicator is an exploration company focused on discovery and development of high-value diamond deposits in North America

Quality assets• Initial samples of kimberlite from the Nanuq North Project returned a high

abundance of colourless diamonds with good size distributionI 2009 I di t ill f d i N N th t th i i b lk li

Quality assets• Initial samples of kimberlite from the Nanuq North Project returned a high

abundance of colourless diamonds with good size distributionI 2009 I di t ill f d i N N th t th i i b lk li• In 2009, Indicator will focus on advancing Nanuq North to the mini-bulk sampling stage

Well managed treasury• Low overhead no debt

• In 2009, Indicator will focus on advancing Nanuq North to the mini-bulk sampling stage

Well managed treasury• Low overhead no debt• Low overhead, no debt• Disciplined spending of $3M a year has delivered four drill ready projects• Very low burn rate compared to peers

Experienced, successful management

• Low overhead, no debt• Disciplined spending of $3M a year has delivered four drill ready projects• Very low burn rate compared to peers

Experienced, successful managementp , g• Technical depth, sophisticated approach to business• Involved in the discovery and development of the first two Canadian diamond mines

p , g• Technical depth, sophisticated approach to business• Involved in the discovery and development of the first two Canadian diamond mines

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Steps taken to mitigate current market volatility

Acted early and quickly

Reduced corporate overhead by more

Acted early and quickly

Reduced corporate overhead by moreReduced corporate overhead by morethan 40% while maintaining explorationcapabilities

Spending focused on projects with most

Reduced corporate overhead by morethan 40% while maintaining explorationcapabilities

Spending focused on projects with mostSpending focused on projects with mostpotential to deliver value

All key land positions in good standingwith no further payments required for

Spending focused on projects with mostpotential to deliver value

All key land positions in good standingwith no further payments required forwith no further payments required fortwo yearswith no further payments required fortwo years

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Extensive Management Experience

Bruce Counts President & CEO

David Kelsch VP Exploration

Bruce Counts President & CEO

David Kelsch VP ExplorationDavid Kelsch VP Exploration

Louis Blom CFO

Grant Lockhart Senior Technical Consultant

Magnus Haglund N B i D l t

David Kelsch VP Exploration

Louis Blom CFO

Grant Lockhart Senior Technical Consultant

Magnus Haglund N B i D l tMagnus Haglund New Business DevelopmentMagnus Haglund New Business Development

Over 75 years of diamond exploration experience

Involved in discovery, development and marketing ofCanada’s first 2 diamond mines: Ekati and Diavik

Over 75 years of diamond exploration experience

Involved in discovery, development and marketing ofCanada’s first 2 diamond mines: Ekati and Diavik

Directly involved in the discovery of more than 250kimberlites on 4 continentsDirectly involved in the discovery of more than 250kimberlites on 4 continents

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Strong Independent Directors

Richard Gorton36 years experience

Richard Gorton36 years experienceformer Director of Exploration for Newmont

John Robins25 years experience

former Director of Exploration for Newmont

John Robins25 years experiencey pPrincipal of Hunter Exploration

Mark Fields25 years experience

y pPrincipal of Hunter Exploration

Mark Fields25 years experience25 years experienceformer Vice President of Pine Valley Mining

Craig Bentham15 i t l

25 years experienceformer Vice President of Pine Valley Mining

Craig Bentham15 i t l15 years in corporate lawDirector of Committee Bay Resources15 years in corporate lawDirector of Committee Bay Resources

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Diamond Market Outlook

Current diamond market offers unique investment opportunity

Diamond market off sharplySteep decline in retail demand in Q4 2008Backlog of unsold diamonds in inventoryAs much as 25 Million carats could be cut from globalAs much as 25 Million carats could be cut from globalannual production in 2009

Exploration and mining company stock prices havecollapsedcollapsed

With declining inventories and production cutbacksany snap back in demand will catch the market short

Excellent Entry Point for InvestorsRough and polished diamondsDiamond producers

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Diamond explorers

Diamond Market Outlook

Fundamentals for long-term growth still in place

Constraints on supplyProduction declining as major mines (Ekati, Venetia, Udachnaya) wind downLack of new discoveriesLack of new discoveriesLong lead times to new production

Growing DemandDemand from BRIC countries projectedto continue to grow well into the centuryRetail demand from China expected tobe greater than North Americandemand by the end of the decade

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North American Focus

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Nanuq North – Highlights

New district with exceptional initial diamond results from a large kimberlite pipe

Kimberlite NQN-001Minimum surface area of 4.5 hectaresAb d t di d l lAbundant diamonds, many colourlessPotential for commercial size stones

Area has high potential for more diamond discoveriesdiscoveries

JV with Peregrine Diamonds Ltd.

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Nanuq North – Kimberlite NQN-001

NQN-001 Discovery Drill Hole

“Hornet” heli-portable RC drill

Drilled towards NW inclined at -58°

Total Depth of hole: 86.5 m

Hole started and ended in kimberlite

800 kg of kimberlite material obtained

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Nanuq North – Kimberlite NQN-001

Compelling Diamond Results From 153 kg Sample

Sample Interval

Interval Length

Sample Weight

Square Mesh Screen Size (in mm)Number of Diamonds

Number of Diamonds

per kg0.075 0.106 0.150 0.212 0.300 0.425 0.600

8.8m - 72.8m 64.0m 125.75kg 39 37 18 15 1 0 2 112 0.89

72.8m - 86.5m 13.7m 27.00kg 38 33 11 7 3 1 1 94 3.48

Total 77.7m 152.75kg 77 70 29 22 4 1 3 206 1.35

Largest diamond 0.97mm x 0.72mm x 0.70mm

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Nanuq North – Kimberlite NQN-001

Evidence of two distinct phases of kimberlite in discovery drill hole: one

significantly more enriched than the otherPhase Boundary

significantly more enriched than the other

Mag Susc

usce

ptib

ility

Stones per 6 k

Mag Susc

Mag

netic

Su

kg (moving avg.)

Diamonds

Downhole Depth (feet)

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Nanuq North – Kimberlite NQN-001

Compelling diamond size distribution: potential for commercial size stones

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Nanuq North – Discovery Potential

KIM dispersion at Nanuq Northcannot be explained by NQN 001NQN-024 cannot be explained by NQN-001alone

Additional kimberlites likely occurNQN 001 Additional kimberlites likely occurinside property boundaries

10 untested high priority targets

NQN-001

10 untested high priority targets

Target NQN-024 is more than 12ha at surface and is located up-ha at surface and is located up-ice of highly anomalous tillsamples

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North American Focus

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Key Projects - Darby

Under option to Teck Cominco Limited

Teck to spend $14M by June 2010 to earn 51%Teck to spend $14M by June 2010 to earn 51%

Once vested obliged to carry Indicator’s remaining 29% to production

9 kimberlites discovered

5 diamond bearing

Large pipes up to 11 hectares at surface

Continued discovery in 2008

Kimberlite boulders discovered in new areas

Field expanded from 100km2 to 1,200km2

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Key Projects - Borden

Indicator 51%/Committee Bay 49%

IME operates and can earn an additional 19% by spending ~$350,000 before June 2010

Abundant KIMs isolated to a discrete area

58,000 acres of mineral claims staked

Airborne geophysical survey completed in 2008

Late 2008 season kimberlite float discovery on top of priority magnetic anomaly

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Key Projects - Grail

80% Indicator / 20% Hunter Exploration

194,700 acres on Boothia Peninsula

Exceptional project potential

High Proportion of G10 Pyrope GarnetsHigh Proportion of G10 Pyrope Garnets

Compelling Geophysical Targets

Ready for Drilling

Darby, Borden and Grail are drill ready projects with land

tenure in good standing well into 2010

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tenure in good standing well into 2010

2009 Plans

Primary Goal: prepare kimberlite NQN-001 for mini-bulk sample

Core drilling program on NQN-001 will provide the following:Core drilling program on NQN 001 will provide the following:

• Geometry of the kimberlite (How many tonnes?)

• Geology of the kimberlite (How many phases of kimberlite are present?)

• Grade of the kimberlite (What is the distribution of diamonds within the different phases?)

Four IME projects with high potential for discovery are drill readyp j g p y y

Nanuq North, Darby, Borden and Grail have high potential for new kimberlite discoveries

Financial realities will ultimately determine how much work these projects receive in 2009

Land tenure on key projects remains in good standing well into 2010

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Corporate Structure

Indicator represents an outstanding opportunity for investment

Shares Issued and Outstanding 63.9 millionShares Issued and Outstanding 63.9 million

Fully Diluted 76.1 millionFully Diluted 76.1 million

52 Week High / Low $0.25/ $0.01

Market Cap ($0 10 per share) $6 4 million

52 Week High / Low $0.25/ $0.01

Market Cap ($0 10 per share) $6 4 millionMarket Cap. ($0.10 per share) $6.4 millionMarket Cap. ($0.10 per share) $6.4 million

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Contact Information

Indicator Minerals IncIndicator Minerals Inc.275 – 1075 West Georgia Street, Vancouver, BC V6E 3C9 Canada

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

www.indicatorminerals.com info@indicatorminerals.com@

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