Indigo Lists on Frankfurt Exchange and Contracts AXINO AG for European Investor Relations

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/03/11 -- Indigo Exploration Inc. (TSX VENTURE: IXI)(FRANKFURT: INE) announces that the Company has listed its shares on the Frankfurt Exchange under the symbol 'INE' and retained AXINO AG to provide investor relations services.

AXINO will represent Indigo in Germany and other European countries, disseminating investor relations information and creating awareness of Indigo in the European financial community. AXINO will also be responsible for maintaining timely contact with Indigo's shareholders, potential investors and investment community professionals in Europe. As compensation, Indigo will pay AXINO 37,000 euros for an initial term of 12 months, payable in quarterly installments from general working capital.

The appointment of AXINO is subject to regulatory approval. AXINO has advised Indigo that it does not hold directly or indirectly any shares of Indigo and that it does not have the right to acquire any such shares prior to this agreement.

ABOUT AXINO AG

AXINO AG (http://www.axino.com) is a privately owned full-service investor relations firm based in Stuttgart, Germany. It specializes in representing resource sector companies that wish to obtain investor exposure and develop a shareholder following in the European financial markets, with a special focus on the German-speaking financial communities. AXINO's clients in the resource sector include: Agnico-Eagle Mines Ltd., Endeavour Silver Corp., Monument Mining Limited, Rio Alto Mining Limited, and Yukon-Nevada Gold Corp.

On Behalf of the Board of Directors,

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

Forward-Looking Statements

This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute 'forward-looking statements' and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, exploration results and plans, or future financial or operating performance and other statements that express management's expectations or estimates of future performance.

Forward-looking statements are generally identifiable by the use of the words 'may', 'will', 'should', 'continue', 'expect', 'anticipate', 'estimate', 'believe', 'intend', 'plan' or 'project' or the negative of these words or other variations on these words or comparable terminology. All such forward-looking information and statements are based on certain assumptions and analyses made by the Company's management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to: risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, as well as those factors discussed in the sections relating to risk factors of the Company set out in the Company's MD&A filed on SEDAR.

There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.

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

Contacts:

Indigo Exploration Inc.

Tim Henneberry

(604) 681-3422
www.indigoexploration.com