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Bluestone Resources Inc. (formerly Indicator Minerals Inc.) (the "Company" or
"Bluestone") (TSX VENTURE:BSR) today announced that it intends to complete a
non-brokered private placement of up to $750,000, comprised of units at a price
of $0.15 per unit. Each unit will consist of one common share and one common
share purchase warrant. Each common share purchase warrant will be exercisable
into one common share for a period of five years from closing at a price of
$0.20 per share. The terms and completion of the private placement are subject
to TSX Venture Exchange approval.


All securities issued in the private placement will be subject to a four-month
hold period from the closing of the private placement. The Company may pay
finder's fees in connection with the private placement. The Company intends to
use the proceeds of the private placement to advance Bluestone's exploration
properties and for general working capital purposes.


About Bluestone Resources Inc.: 

Bluestone Resources Inc. is a 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. 


On behalf of the Board, Bluestone Resources Inc.

Bruce Counts, P. Geoph., President & CEO
Bluestone Resources (TSXV:BSR)
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