Industrial Minerals, Inc. to Be Covered by Investrend Affiliate SISM Research.

NEW YORK -- (Investrend Research Syndicate) Investrend Research affiliate SISM Research is initiating coverage on Industrial Minerals, Inc. (OTCBB:IDSM).

Industrial Minerals, based in Toronto, has control over one of the largest graphitic resources in North America. This resource, the Bissett Creek property, contains the largest and purest natural flake graphite known in the world. IDSM is a commercial producer that recently commenced the first commercial sale and shipment of one-ton, high-grade, natural flake graphite to a large international user, filling its first order.

To date, only 10% of the vast deposit of the graphite field has been drilled and proven but 640,000 tons of large flake graphite has already been found and the company could become one of the largest producers of natural large flake graphite in the world. A drilling program to expand the overall resources (approximately 6 million tons) is planned for 2006/2007. The overall resource of large flake crystalline graphite present on IDSM's Bissett Creek property could supply the company's customer needs for decades.

Ernest C. Schlotter, four star analyst for EPS estimate accuracy according to the tracking firm StarMine, said: "There is a growing need for high-purity graphite. Forecasted growth of the transportation fuel-cell market, as well as stationary and portable power fuel cells, and increases in lithium-ion battery production, from the present ten million a year to more than one hundred million a year within the next few years alone provides an enormous opportunity. Both alkaline and lithium-ion batteries require the purest graphite. Carbon purified to 99.9%, is the popular choice for this kind of electrical application."

Industrial Minerals will pay SISM Research $1,750 per month over a two-year period solely to ensure independent coverage.

SISM Research, based in Zurich, Switzerland, is a private investment research firm offering high-quality, independent, fundamental research on public companies since 1995. SISM writes, publishes and distributes research coverage, in both English and German, on micro- to small-cap public companies trading on the OTC Bulletin Board, NASDAQ and AMEX.

This coverage is geared toward institutional and individual investors in both North America and in German-speaking Europe, a market that represents more than 100 million people. SISM Research is a content provider to Thomson Financials OneAnalytics/FirstCall and Investext, to Reuters Multex, and Investrend.

Both SISM Research and Investrend Research subscribe to the "Standards for Independent Research Providers." Complete information is available at the company's InvestorPower page at http://www.investrend.com/company/list.asp?sPathParam=yes. Investors are advised to read disclosures carefully before trading in the equities of any enrolled company.

The company's research will be enrolled for investor monitoring by the Shareholders Research Alliance (http://www.shareholdersresearch.com.

Anyone interested in receiving alerts regarding Industrial Minerals research should email [e-mail] with "IDSM" in the subject line.