Intermap will host a conference call today, March 12, 2012, at 4:30 p.m. EDT (2:30 p.m. MDT). To participate in the call, please dial +1-416-340-8530 or 1-877-240-9772 approximately 10 minutes prior to the conference call. A recording of the conference call will be available through March 19, 2012. Please dial +1-905-694-9451 or 1-800-408-3053 and provide the pass code 7026665 to listen to the rebroadcast. The call will also be available on Intermap’s website at http://www.intermap.com/investors.aspx for replay.

About Intermap Technologies

Headquartered in Denver, Colorado - Intermap ( www.intermap.com) is a leading provider of Location-Based Information (LBI), setting the industry standard for creating high-resolution 3D digital models of the earth’s surface. The Company has remapped entire countries, to build NEXTMap^® national databases consisting of affordably priced elevation data and geometric images of unparalleled accuracy. Turnkey solutions can be purchased from the Company’s NEXTMap Online Store, a hosted web services platform offering a variety of subscription levels by geography, data-layer, individual or enterprise wide license. Intermap’s cloud-based hosted model offers customers the most convenient and affordable method to satisfy their needs with both Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) options.

Adjusted EBITDA is not a recognized performance measure under GAAP and does not have a standardized meaning prescribed by IFRS. The term EBITDA consists of net income (loss) and excludes interest, taxes, depreciation, and amortization. Adjusted EBITDA is included as a supplemental disclosure because management believes that such measurement provides a better assessment of the Company’s operations on a continuing basis by eliminating certain non-cash charges and charges that are nonrecurring. The most directly comparable measure to adjusted EBITDA calculated in accordance with IFRS is net income (loss).

Intermap Reader Advisory

Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. You can find a discussion of such risks and uncertainties in our Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

Reference is made to the Company’s audited Consolidated Financial Statements for the years ended December 31, 2011 and 2010, together with the accompanying notes, which includes a going concern disclosure and such disclosure remains applicable as of the date of the financial statements included herein.

INTERMAP TECHNOLOGIES CORPORATION Consolidated Balance Sheets (In thousands of United States dollars)
				December 31,				December 31,				January 1,
				2011				2010				2010
Assets
Current assets:
	Cash and cash equivalents			$	597			$	4,356			$	10,355
	Amounts receivable				5,512				4,156				12,270
	Unbilled revenue				865				1,016				343
	Work in process				26				59				2,057
	Prepaid expenses				616				1,039				1,481
	Non-current assets held for sale				-				1,488				-
					7,616				12,114				26,506
Property and equipment					5,273				7,908				13,302
Data library					18,439				23,049				87,520
Intangible assets					290				551				1,056
Deferred tax assets					5				5				136
				$	31,623			$	43,627			$	128,520
Liabilities and Shareholders' Equity
Current liabilities:
	Accounts payable and accrued liabilities			$	5,097			$	3,141			$	5,916
	Current portion of provisions				888				1,109				398
	Current portion of note payable				69				1,639				-
	Current portion of deferred lease inducements				97				123				171
	Unearned revenue				1,544				4,873				674
	Deposit for sale of assets				-				4,000				-
	Income taxes payable				43				50				42
	Current portion of obligations under finance lease				323				151				229
	Current portion of long-term debt				548				527				1,383
					8,609				15,613				8,813
Long-term note payable					1,629				-				-
Deferred lease inducements					363				286				129
Long-term provisions					223				531				316
Obligations under finance lease					262				41				130
Long-term debt					95				658				1,121
Deferred tax liabilities					13				93				218
					11,194				17,222				10,727
Shareholders' equity:
	Share capital				193,992				187,253				181,623
	Accumulated other comprehensive income				46				128				147
	Contributed surplus				9,663				8,700				7,858
	Deficit				(183,272	)			(169,676	)			(71,835	)
					20,429				26,405				117,793
				$	31,623			$	43,627			$	128,520

INTERMAP TECHNOLOGIES CORPORATION Consolidated Statements of Comprehensive Income (In thousands of United States dollars, except per share information)
For the year ended December 31,				2011				2010
Revenue:
	Contract services			$	10,813			$	4,280
	Data licenses				13,254				9,652
					24,067				13,932
Expenses:
	Operating costs				31,376				36,381
	Depreciation of property and equipment				3,377				4,567
	Amortization of data library				4,610				14,346
	Impairment of data library				-				55,362
	Amortization of intangible assets				495				471
					39,858				111,127
Operating loss					(15,791	)			(97,195	)
Gain (loss) on disposal of equipment					2,514				(72	)
Financing costs					(160	)			(142	)
Financing income					3
Loss on foreign currency translation					(72	)			(369	)
Loss before income taxes					(13,506	)			(97,778	)
Income tax (expense) recovery:
	Current				(170	)			(57	)
	Deferred				80				(6	)
					(90	)			(63	)
Net loss for the period				$	(13,596	)		$	(97,841	)
Other comprehensive loss:
	Foreign currency translation differences				(82	)			(19	)
Total comprehensive loss for the period				$	(13,678	)		$	(97,860	)
Basic and diluted loss per share				$	(0.19	)		$	(1.73	)
Weighted average number of Class A
	common shares - basic and diluted				72,563,227				56,502,778

INTERMAP TECHNOLOGIES CORPORATION Consolidated Statements of Changes in Equity (In thousands of United States dollars)
		Share Capital				Contributed Surplus			Cumulative Translation Adjustments				Deficit				Total
Balance at January 1, 2010		$	181,623			$	7,858		$	147			$	(71,835	)		$	117,793
Comprehensive loss for the period			-				-			(19	)			(97,841	)			(97,860	)
Share-based compensation			198				732			-				-				930
Issuance of shares			6,157				-			-				-				6,157
Issuance costs			(725	)			-			-				-				(725	)
Compensation options issued to agent			-				110			-				-				110
Balance at December 31, 2010			187,253				8,700			128				(169,676	)			26,405
Comprehensive loss for the period			-				-			(82	)			(13,596	)			(13,678	)
Share-based compensation			597				698			-				-				1,295
Issuance of shares			6,791				-			-				-				6,791
Issuance costs			(384	)			-			-				-				(384	)
Compensation options issued to agent			(265	)			265			-				-				-
Balance at December 31, 2011		$	193,992			$	9,663		$	46			$	(183,272	)		$	20,429

INTERMAP TECHNOLOGIES CORPORATION Consolidated Statements of Cash Flows (In thousands of United States dollars)
				For the years ended
				December 31,
				2011				2010
Cash flows (used in) provided by:
Operating activities:
	Net loss for the period			$	(13,596	)		$	(97,841	)
	Adjusted for the following non-cash items:
		Depreciation of property and equipment			3,377				4,567
		Amortization of data library			4,610				14,346
		Impairment of data library			-				55,362
		Amortization of intangible assets			495				471
		Share-based compensation expense			1,011				1,068
		(Gain) loss on disposal of equipment			(2,514	)			72
		Amortization of deferred lease inducements			55				(279	)
		Deferred taxes			(80	)			6
		Financing costs			160				142
		Current income tax expense			170				57
		Interest paid			(99	)			(140	)
		Income tax paid			(105	)			(154	)
	Change in non-cash operating working capital				(2,545	)			14,162
					(9,061	)			(8,161	)
Investing activities:
	Purchase of property and equipment				(102	)			(1,015	)
	Investment in intangible assets				(242	)			-
	Investment in data library				-				(4,605	)
	Proceeds from sale of equipment				1				4,019
					(343	)			(1,601	)
Financing activities:
	Proceeds from issuance of common shares				6,791				6,157
	Securities issuance costs				(384	)			(725	)
	Repayment of obligations under finance lease				(239	)			(167	)
	Repayment of long-term debt				(531	)			(1,390	)
					5,637				3,875
Effect of foreign exchange on cash					8				(112	)
Decrease in cash and cash equivalents					(3,759	)			(5,999	)
Cash and cash equivalents, beginning of period					4,356				10,355
Cash and cash equivalents, end of period				$	597			$	4,356

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