TSX.V: IXI

January 11, 2010 – Vancouver, British Columbia. Indigo Exploration Inc. (TSXV: IXI) reports that it has closed a nonbrokered flowthrough private placement, previously announced on December 30, 2009 of 580,000 Units, at price of $0.25 per Unit, for total gross proceeds of $145,000.

Each Unit consists of one FlowThrough Share and onehalf (1/2) of one nonflowthrough common share purchase warrant of the Issuer. Each whole warrant entitles the holder thereof to purchase one “nonflowthrough” share in the capital stock of the Company at an exercise price of $0.35 per warrant share, subject to adjustment in certain events, at any time on or before 5:00 p.m. (Vancouver time) on January 6, 2011.

In conjunction with the private placement, a finder’s fee of $6,500 has been paid and 26,000 warrants have been issued to Union Securities Ltd. with the warrants being exercisable at $0.35 per share, on or before 5:00 p.m. (Vancouver time) on January 6, 2011.

Securities issued pursuant to the private placement are subject to a four month hold period until May 7, 2010.

Proceeds from the private placement will be used in connection with the Company’s exploration program on the Fredy Creek Project.

The Company is a junior mining resource exploration company focused on acquiring mineral properties and exploring for and developing economically viable mineral resources. The Company’s mineral property is located in British Columbia. For more information, please refer to the Company’s prospectus dated November 20, 2009 available on SEDAR (www.sedar.com).

 

On Behalf of the Board of Directors,

“R. Tim Henneberry”
R.Tim Henneberry, P.Geo.
President and CEO


For further information, please contact:
Tim Henneberry: (604) 6813422

 

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.